official Daily Technical Analysis By FxGrow.com

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FxGrow Daily Technical Analysis – 2nd Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 2nd Nov 2017

EUR/USD Intraday: continuation of the rebound.

 
Pivot: 1.1625
 
Our preference: long positions above 1.1625 with targets at 1.1690 & 1.1720 in extension.
 
Alternative scenario: below 1.1625 look for further downside with 1.1600 & 1.1570 as targets.
 
Comment: the break above 1.1625 is a positive signal that has opened a path to 1.1690.
 
Supports and resistances:
1.1750 **
1.1720 **
1.1690 **
1.1643 Last
1.1625 ***
1.1600 *
1.1570 **

USD/JPY Intraday: bullish bias above 113.75.

 
Pivot: 113.75
 
Our preference: long positions above 113.75 with targets at 114.30 & 114.75 in extension.
 
Alternative scenario: below 113.75 look for further downside with 113.30 & 112.95 as targets.
 
Comment: a support base at 113.75 has formed and has allowed for a temporary stabilisation.
 
Supports and resistances:
115.20
114.75
114.30
114.05 Last
113.75
113.30
112.95

GBP/USD Intraday: intraday support around 1.3240.

 
Pivot: 1.3240
 
Our preference: long positions above 1.3240 with targets at 1.3320 & 1.3360 in extension.
 
Alternative scenario: below 1.3240 look for further downside with 1.3190 & 1.3155 as targets.
 
Comment: a support base at 1.3240 has formed and has allowed for a temporary stabilisation.
 
Supports and resistances:
1.3380
1.3360
1.3320
1.3256 Last
1.3240
1.3190
1.3155

AUD/USD Intraday: continuation of the rebound.

 
Pivot: 0.7680
 
Our preference: long positions above 0.7680 with targets at 0.7750 & 0.7770 in extension.
 
Alternative scenario: below 0.7680 look for further downside with 0.7640 & 0.7620 as targets.
 
Comment: the break above 0.7680 is a positive signal that has opened a path to 0.7750.
 
Supports and resistances:
0.7790 **
0.7770 **
0.7750 **
0.7684 Last
0.7680 ***
0.7640 **
0.7620 *

Crude Oil‏ (WTI)‏ (Z7) Intraday: under pressure.

 
Pivot: 54.70
 
Our preference: short positions below 54.70 with targets at 53.80 & 53.40 in extension.
 
Alternative scenario: above 54.70 look for further upside with 55.22 & 55.70 as targets.
 
Comment: technically the RSI is below its neutrality area at 50.
 
Supports and resistances:
55.70
55.22
54.70
54.10 Last
53.80
53.40
52.80

Gold spot Intraday: bullish bias above 1273.00.

 
Pivot: 1273.00
 
Our preference: long positions above 1273.00 with targets at 1282.50 & 1286.00 in extension.
 
Alternative scenario: below 1273.00 look for further downside with 1268.00 & 1265.00 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1291.00
1286.00
1282.50
1276.40 Last
1273.00
1268.00
1265.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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FxGrow Daily Technical Analysis – 6th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 6 Nov 2017

AUD/USD Intraday: key resistance at 0.7670.

 
Pivot: 0.7670
 
Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7615 in extension.
 
Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7715 as targets.
 
Comment: as long as 0.7670 is resistance, look for choppy price action with a bearish bias.
 
Supports and resistances:
0.7715 **
0.7695 **
0.7670 ***
0.7665 Last
0.7635 *
0.7615 *
0.7595 *

GBP/USD Intraday: continuation of the rebound.

 
Pivot: 1.3070
 
Our preference: long positions above 1.3070 with targets at 1.3135 & 1.3170 in extension.
 
Alternative scenario: below 1.3070 look for further downside with 1.3040 & 1.3000 as targets.
 
Comment: the RSI is supported by a bullish trend line.
 
Supports and resistances:
1.3190 **
1.3170 *
1.3135 *
1.3113 Last
1.3070 ***
1.3040 *
1.3000 *

USD/JPY Intraday: bullish bias above 114.00.

 
Pivot: 114.00
 
Our preference: long positions above 114.00 with targets at 114.40 & 114.70 in extension.
 
Alternative scenario: below 114.00 look for further downside with 113.60 & 113.30 as targets.
 
Comment: a support base at 114.00 has formed and has allowed for a temporary stabilisation.
 
Supports and resistances:
115.00
114.70
114.40
114.06 Last
114.00
113.60
113.30

EUR/USD Intraday: the downside prevails.

 
Pivot: 1.1620
 
Our preference: short positions below 1.1620 with targets at 1.1570 & 1.1530 in extension.
 
Alternative scenario: above 1.1620 look for further upside with 1.1665 & 1.1685 as targets.
 
Comment: the RSI has failed to break above its bearish trendline.
 
Supports and resistances:
1.1685 **
1.1665 **
1.1620 ***
1.1596 Last
1.1570 *
1.1530 *
1.1490 **

Gold spot Intraday: under pressure.

 
Pivot: 1273.50
 
Our preference: short positions below 1273.50 with targets at 1265.00 & 1260.00 in extension.
 
Alternative scenario: above 1273.50 look for further upside with 1280.50 & 1284.00 as targets.
 
Comment: the RSI is capped by a bearish trend line.
 
Supports and resistances:
1284.00
1280.50
1273.50
1269.72 Last
1265.00
1260.00
1253.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: the upside prevails.

Pivot: 55.25

Our preference: long positions above 55.25 with targets at 56.55 & 56.85 in extension.

Alternative scenario: below 55.25 look for further downside with 54.90 & 54.40 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
57.50
56.85
56.55
56.04 Last
55.25
54.90
54.40

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 7th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 7 Nov 2017

EUR/USD Intraday: the downside prevails.

 
Pivot: 1.1620
 
Our preference: short positions below 1.1620 with targets at 1.1580 & 1.1560 in extension.
 
Alternative scenario: above 1.1620 look for further upside with 1.1640 & 1.1665 as targets.
 
Comment: as long as 1.1620 is resistance, look for choppy price action with a bearish bias.
 
Supports and resistances:
1.1665 **
1.1640 **
1.1620 ***
1.1589 Last
1.1580 *
1.1560 *
1.1530 **

AUD/USD Intraday: intraday support around 0.7670.

 
Pivot: 0.7670
 
Our preference: long positions above 0.7670 with targets at 0.7695 & 0.7710 in extension.
 
Alternative scenario: below 0.7670 look for further downside with 0.7650 & 0.7635 as targets.
 
Comment: the break above 0.7670 is a positive signal that has opened a path to 0.7695.
 
Supports and resistances:
0.7730 **
0.7710 **
0.7695 **
0.7677 Last
0.7670 ***
0.7650 *
0.7635 *

USD/JPY Intraday: the downside prevails.

 
Pivot: 114.15
 
Our preference: short positions below 114.15 with targets at 113.65 & 113.30 in extension.
 
Alternative scenario: above 114.15 look for further upside with 114.40 & 114.70 as targets.
 
Comment: the break below 114.15 is a negative signal that has opened a path to 113.65.
 
Supports and resistances:
114.70
114.40
114.15
114.13 Last
113.65
113.30
113.00

GBP/USD Intraday: bullish bias above 1.3125.

 
Pivot: 1.3125
 
Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3235 in extension.
 
Alternative scenario: below 1.3125 look for further downside with 1.3080 & 1.3040 as targets.
 
Comment: the break above 1.3125 is a positive signal that has opened a path to 1.3190.
 
Supports and resistances:
1.3290 **
1.3235 *
1.3190 *
1.3170 Last
1.3125 ***
1.3080 *
1.3040 *

Crude Oil‏ (WTI)‏ (Z7) Intraday: further upside.

 
Pivot: 56.75
 
Our preference: long positions above 56.75 with targets at 58.00 & 58.40 in extension.
 
Alternative scenario: below 56.75 look for further downside with 56.10 & 55.65 as targets.
 
Comment: the RSI is supported by a bullish trend line.
 
Supports and resistances:
59.15
58.40
58.00
57.42 Last
56.75
56.10
55.65

Gold spot Intraday: the bias remains bullish.

 
Pivot: 1273.00
 
Our preference: long positions above 1273.00 with targets at 1284.00 & 1290.50 in extension.
 
Alternative scenario: below 1273.00 look for further downside with 1265.00 & 1260.00 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1296.50
1290.50
1284.00
1277.70 Last
1273.00
1265.00  
1260.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 13th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical 13 Nov 2017

GBP/USD Intraday: the downside prevails.

Pivot: 1.3175
 
Our preference: short positions below 1.3175 with targets at 1.3080 & 1.3040 in extension.
 
Alternative scenario: above 1.3175 look for further upside with 1.3230 & 1.3270 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
1.3270 **
1.3230 **
1.3175 **
1.3130 Last
1.3080 ***
1.3040 **
1.3025 **

USD/JPY Intraday: turning down.

Pivot: 113.75
 
Our preference: short positions below 113.75 with targets at 113.20 & 113.05 in extension.
 
Alternative scenario: above 113.75 look for further upside with 114.05 & 114.30 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
114.30 *
114.05 *
113.75 ***
113.45 Last
113.20 **
113.05 *
112.90 **

EUR/USD Intraday: the upside prevails.

Pivot: 1.1635
 
Our preference: long positions above 1.1635 with targets at 1.1680 & 1.1700 in extension.
 
Alternative scenario: below 1.1635 look for further downside with 1.1610 & 1.1580 as targets.
 
Comment: the RSI is mixed to bullish.
 
Supports and resistances:
1.1720 **
1.1700 **
1.1680 **
1.1655 Last
1.1635 ***
1.1610 *
1.1580 **

AUD/USD Intraday: consolidation.

Pivot: 0.7670
 
Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7620 in extension.
 
Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7710 as targets.
 
Comment: as long as the resistance at 0.7670 is not surpassed, the risk of the break below 0.7635 remains high.
 
Supports and resistances:
0.7710 *
0.7695 *
0.7670 **
0.7650 Last
0.7635 **
0.7620 *
0.7600 *

Crude Oil‏ (WTI)‏ (Z7) ST: further advance.

Pivot: 52.80
 
Our preference: long positions above 52.80 with targets at 59.45 & 62.00 in extension.
 
Alternative scenario: below 52.80 look for further downside with 50.00 & 47.50 as targets.
 
Comment: the RSI advocates for further advance.
 
Supports and resistances:
64.50 ***
62.00 **
59.45 **
56.79 Last
52.80 ***
50.00 **
47.50 ***

Gold spot Intraday: the downside prevails.

Pivot: 1282.00
 
Our preference: short positions below 1282.00 with targets at 1273.00 & 1270.00 in extension.
 
Alternative scenario: above 1282.00 look for further upside with 1285.50 & 1289.00 as targets.
 
Comment: technically the RSI is below its neutrality area at 50.
 
Supports and resistances:
1289.00
1285.50
1282.00
1276.10 Last
1273.00
1270.00
1266.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 14th Nov 2017
By FxGrow Research & Analysis Team

GBP/USD Remains In Consolidation Downtrend With Positive CPI Expectations

GBP/USD still trades inside Nov. 2nd candle shadow with failure to break lower or higher, thus entering eighth trading consolidation session, and remains bearish with heavy selloff wave.

Yesterday, the cable rallied to 1.3179 high but failed to press forward, retreated to 1.3061 low, and closed at 1.3113. Today, GBP/USD is trading narrow with 38-pips price action after plunging to 1.3090 low.

As for Fundamentals, UK is set to release Inflation (CPI) data with high anticipation for a record above 3.1% with 0.2 point basis, but still it is not clear how market will react for such data release especially after the pair was already priced in for last BOE's rate hike. Shortly afterwards Carney will cross wires a long with major governors key speakers.

Analysts at TDS are looking for UK headline CPI to accelerate from 3.0% to a firmly outside the target band level of 3.3% y/y in October, leaving us above consensus (3.1%) and the BoE’s forecast from the Nov IR (3.2%).

Technical Overview GBP/USD

Current price: 1.3102

Target price: 1.2950

Resistance levels: 1.3140, 1.3170, 1.3200-20

Support levels: 1.1380, 1.3035, 1.3001

Trend: Sideways Down

Comment The market is short term negative and Monday's gap lower highlights a return to down trending action, projecting an initial bear leg to 1.2950-. A close below 1.3080 should release selloffs. Stay prepared for additional near term sideways corrective congestion, but rejected rallies against Monday's gap should bear flag. A close over 1.3210* is needed to signal a trend turn back to the upside.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 14th Nov 2017
By FxGrow Research & Analysis Team

EUR/USD Intraday: further advance.

Pivot: 1.1660
 
Our preference: long positions above 1.1660 with targets at 1.1720 & 1.1735 in extension.
 
Alternative scenario: below 1.1660 look for further downside with 1.1635 & 1.1620 as targets.
 
Comment: the RSI is bullish and calls for further upside.
 
Supports and resistances:
1.1750 ***
1.1735 ***
1.1720 ***
1.1690 Last
1.1660 ***
1.1635 *
1.1620 **

GBP/USD Intraday: key resistance at 1.3135.

 
Pivot: 1.3135
 
Our preference: short positions below 1.3135 with targets at 1.3085 & 1.3060 in extension.
 
Alternative scenario: above 1.3135 look for further upside with 1.3175 & 1.3205 as targets.
 
Comment: the upward potential is likely to be limited by the resistance at 1.3135.
 
Supports and resistances:
1.3205 **
1.3175 ***
1.3135 **
1.3105 Last
1.3085 ***
1.3060 **
1.3040 ***

USD/JPY Intraday: further upside.

 
Pivot: 113.40
 
Our preference: long positions above 113.40 with targets at 114.05 & 114.30 in extension.
 
Alternative scenario: below 113.40 look for further downside with 113.20 & 113.05 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
114.45 **
114.30 ***
114.05 ***
113.75 Last
113.40 **
113.20 *
113.05 **

AUD/USD Intraday: under pressure.

Pivot: 0.7150

Our preference: short @ 0.7625 with targets @ 0.7605 & 0.7575 in extension.
 
Alternative scenario: above 0.7640 look for further upside with 0.7665 & 0.7685 as targets.
 
Comment: the RSI is mixed to bearish.
 
Supports and resistances:
0.7685 *
0.7665 *
0.7640 **
0.7622 Last
0.7605 ***
0.7575 *
0.7545 **

Crude Oil‏ (WTI)‏ (Z7) Intraday: key resistance at 56.85.

 
Pivot: 56.85
 
Our preference: short positions below 56.85 with targets at 56.30 & 56.10 in extension.
 
Alternative scenario: above 56.85 look for further upside with 57.15 & 57.50 as targets.
 
Comment: the RSI is capped by a declining trend line.
 
Supports and resistances:
57.50
57.15
56.85
56.55 Last
56.30
56.10
55.65

Gold spot Intraday: under pressure.

 
Pivot: 1280.00
 
Our preference: short positions below 1280.00 with targets at 1273.00 & 1270.00 in extension.
 
Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1285.50 as targets.
 
Comment: the RSI is below its neutrality area at 50%
 
Supports and resistances:
1285.50
1283.00
1280.00
1276.42 Last
1273.00
1270.00
1266.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 15th Nov 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: continuation of the rebound.

 
Pivot: 1.3125
 
Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3230 in extension.
 
Alternative scenario: below 1.3125 look for further downside with 1.3085 & 1.3060 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.3265 **
1.3230 ***
1.3190 ***
1.3165 Last
1.3125 ***
1.3085 ***
1.3060 ***

USD/JPY Intraday: under pressure.

 
Pivot: 113.50
 
Our preference: short positions below 113.50 with targets at 112.50 & 112.30 in extension.
 
Alternative scenario: above 113.50 look for further upside with 113.70 & 113.90 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
113.90 ***
113.70 ***
113.50 ***
113.00 Last
112.50 **
112.30 **
112.10 ***

EUR/USD Intraday: further advance.

 
Pivot: 1.1775
 
Our preference: long positions above 1.1775 with targets at 1.1865 & 1.1880 in extension.
 
Alternative scenario: below 1.1775 look for further downside with 1.1730 & 1.1700 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.1900
1.1880
1.1865
1.1824 Last
1.1775
1.1730
1.1700

AUD/USD Intraday: consolidation.

 
Pivot: 0.7610
 
Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension.
 
Alternative scenario: above 0.7610 look for further upside with 0.7625 & 0.7650 as targets.
 
Comment: the RSI is mixed to bearish.
 
Supports and resistances:
0.7650 ***
0.7625 *
0.7610 ***
0.7585 Last
0.7570 ***
0.7550 *
0.7525 **

Crude Oil‏ (WTI)‏ (Z7) Intraday: the downside prevails.

 
Pivot: 55.80
 
Our preference: short positions below 55.80 with targets at 54.60 & 54.40 in extension.
 
Alternative scenario: above 55.80 look for further upside with 56.25 & 56.60 as targets.
 
Comment: the RSI is capped by a bearish trend line.
 
Supports and resistances:
56.60
56.25
55.80
55.15 Last
54.60
54.40
54.10

Gold spot Intraday: further advance.

 
Pivot: 1276.50
 
Our preference: long positions above 1276.50 with targets at 1286.00 & 1288.50 in extension.
 
Alternative scenario: below 1276.50 look for further downside with 1271.00 & 1266.00 as targets.
 
Comment: the RSI is bullish and calls for further upside.
 
Supports and resistances:
1291.00
1288.50
1286.00
1282.62 Last
1276.50
1271.00  
1266.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 15th Nov 2017
By FxGrow Research & Analysis Team

EURO Bulls Takes Over Dollar Bears, Eyes On CPI

EUR/USD bulls were highly occupied yesterday with 143-pips price action and 1.1805 high. Today, the pair extended the upward destination and clocked 1.1852 high, currently trading 1.1836 intraday.

Apparently, comments yesterday by Fed's Bullard indicating that current interest rate level likely to remain appropriate over near-term weighted negatively on the DXY, losing $1.10 value since yesterday which broke daily rising trend line and closed below it.

Market is currently in action, but suspense will increase shortly as U.S releases multi inflation figures with CPI and Core CPI in focus. Today's data is vital and it will re-shape the odds of potential Dec. Fed hike.  

 

EUR/USD Technical Overview:

Closing price: 1.1797

Target price: 1.1934

Resistance levels: 1.1880, 1.1934*

Support levels:  1.1781 , 1.1731

Trend: Up

Comment Yesterday's surge higher triggers a short term bottoming upturn and projects a drive to 1.1934*. Trade is poised for continuation rallies today. Any corrections that hang in the upper half of yesterday's upturn should bull flag. Only a close under 1.1731* stops the upswing anf warns for corrective congestion along 1.1700+/-.  

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 16th Nov 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: under pressure.

 
Pivot: 1.3185
 
Our preference: short positions below 1.3185 with targets at 1.3130 & 1.3110 in extension.
 
Alternative scenario: above 1.3185 look for further upside with 1.3215 & 1.3250 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
1.3250
1.3215
1.3185
1.3152 Last
1.3130
1.3110
1.3080

USD/JPY Intraday: continuation of the rebound.

 
Pivot: 112.70
 
Our preference: long positions above 112.70 with targets at 113.50 & 113.75 in extension.
 
Alternative scenario: below 112.70 look for further downside with 112.45 & 112.15 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
113.90 ***
113.75 ***
113.50 ***
113.07 Last
112.70 **
112.45 **
112.15 ***

EUR/USD Intraday: consolidation.

 
Pivot: 1.1805
 
Our preference: short positions below 1.1805 with targets at 1.1760 & 1.1725 in extension.
 
Alternative scenario: above 1.1805 look for further upside with 1.1830 & 1.1860 as targets.
 
Comment: a break below 1.1760 would trigger a drop towards 1.1725.
 
Supports and resistances:
1.1860
1.1830
1.1805
1.1775 Last
1.1760
1.1725
1.1700

AUD/USD Intraday: under pressure.

 
Pivot: 0.7610
 
Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension.
 
Alternative scenario: above 0.7610 look for further upside with 0.7630 & 0.7650 as targets.
 
Comment: the upward potential is likely to be limited by the resistance at 0.7610.
 
Supports and resistances:
0.7650 ***
0.7630 *
0.7610 ***
0.7590 Last
0.7570 ***
0.7550 *
0.7525 **

Gold spot Intraday: key resistance at 1280.00.

 
Pivot: 1280.00
 
Our preference: short positions below 1280.00 with targets at 1274.00 & 1271.00 in extension.
 
Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1286.50 as targets.
 
Comment: the RSI lacks upward momentum.
 
Supports and resistances:
1286.50
1283.00
1280.00
1276.70 Last
1274.00
1271.00
1266.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: turning up.

 
Pivot: 55.15
 
Our preference: long positions above 55.15 with targets at 55.80 & 56.05 in extension.
 
Alternative scenario: below 55.15 look for further downside with 54.80 & 54.40 as targets.
 
Comment: the RSI is bullish and calls for further advance.
 
Supports and resistances:
56.30
56.05
55.80
55.42 Last
55.15
54.80
54.40

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 17th Nov 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: further advance.

 
Pivot: 1.3175
 
Our preference: long positions above 1.3175 with targets at 1.3275 & 1.3300 in extension.
 
Alternative scenario: below 1.3175 look for further downside with 1.3135 & 1.3110 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.3320
1.3300
1.3275
1.3230 Last
1.3175
1.3135
1.3110

USD/JPY Intraday: under pressure.

 
Pivot: 113.00
 
Our preference: short positions below 113.00 with targets at 112.15 & 111.90 in extension.
 
Alternative scenario: above 113.00 look for further upside with 113.30 & 113.55 as targets.
 
Comment: technically the RSI is below its neutrality area at 50.
 
Supports and resistances:
113.55 ***
113.30 ***
113.00 ***
112.60 Last
112.15 **
111.90 ***
111.60 **

EUR/USD Intraday: the upside prevails.

 
Pivot: 1.1760
 
Our preference: long positions above 1.1760 with targets at 1.1830 & 1.1860 in extension.
 
Alternative scenario: below 1.1760 look for further downside with 1.1725 & 1.1700 as targets.
 
Comment: the RSI lacks downward momentum.
 
Supports and resistances:
1.1880
1.1860
1.1830
1.1796 Last
1.1760
1.1725
1.1700

AUD/USD Intraday: under pressure.

 
Pivot: 0.7605
 
Our preference: short positions below 0.7605 with targets at 0.7525 & 0.7490 in extension.
 
Alternative scenario: above 0.7605 look for further upside with 0.7630 & 0.7650 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
0.7650 ***
0.7630 *
0.7605 ***
0.7560 Last
0.7525 ***
0.7490 **
0.7470 ***

Gold spot Intraday: the upside prevails.

 
Pivot: 1277.00
 
Our preference: long positions above 1277.00 with targets at 1286.50 & 1289.50 in extension.
 
Alternative scenario: below 1277.00 look for further downside with 1273.00 & 1270.00 as targets.
 
Comment: the RSI is bullish and calls for further advance.
 
Supports and resistances:
1293.00
1289.50
1286.50
1282.20 Last
1277.00
1273.00
1270.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: caution.

 
Pivot: 55.48
 
Our preference: short positions below 55.48 with targets at 55.00 & 54.80 in extension.
 
Alternative scenario: above 55.48 look for further upside with 55.80 & 56.05 as targets.
 
Comment: the RSI is mixed and calls for caution.
 
Supports and resistances:
56.05
55.80
55.48
55.37 Last
55.00
54.80
54.40

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 21st Nov, 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: the bias remains bullish.

 
Pivot: 1.3220
 
Our preference: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.
 
Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.
 
Comment: the RSI advocates for further upside.
 
Supports and resistances:
1.3320
1.3300
1.3280
1.3250 Last
1.3220
1.3200
1.3180

USD/JPY Intraday: the bias remains bullish.

 
Pivot: 112.20
 
Our preference: long positions above 112.20 with targets at 112.75 & 113.00 in extension.
 
Alternative scenario: below 112.20 look for further downside with 111.90 & 111.60 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
113.35 ***
113.00 ***
112.75 ***
112.45 Last
112.20 **
111.90 ***
111.60 **

EUR/USD Intraday: consolidation.

 
Pivot: 1.1770
 
Our preference: short positions below 1.1770 with targets at 1.1720 & 1.1685 in extension.
 
Alternative scenario: above 1.1770 look for further upside with 1.1810 & 1.1850 as targets.
 
Comment: the RSI lacks upward momentum.
 
Supports and resistances:
1.1850
1.1810
1.1770
1.1745 Last
1.1720
1.1685
1.1650

AUD/USD Intraday: the downside prevails.

 
Pivot: 0.7570
 
Our preference: short positions below 0.7570 with targets at 0.7510 & 0.7490 in extension.
 
Alternative scenario: above 0.7570 look for further upside with 0.7590 & 0.7610 as targets.
 
Comment: the RSI is mixed to bearish.
 
Supports and resistances:
0.7610 ***
0.7590 **
0.7570 ***
0.7535 Last
0.7510 ***
0.7490 **
0.7465 ***

Crude Oil? (WTI)? (F8) Intraday: rebound expected.

 
Pivot: 56.25
 
Our preference: long positions above 56.25 with targets at 56.65 & 56.95 in extension.
 
Alternative scenario: below 56.25 look for further downside with 55.95 & 55.75 as targets.
 
Comment: the RSI is mixed with a bullish bias.
 
Supports and resistances:
57.20
56.95
56.65
56.45 Last
56.25
55.95
55.75

Gold spot Intraday: key resistance at 1285.00.

 
Pivot: 1285.00
 
Our preference: short positions below 1285.00 with targets at 1274.00 & 1271.50 in extension.
 
Alternative scenario: above 1285.00 look for further upside with 1290.00 & 1293.50 as targets.
 
Comment: the upward potential is likely to be limited by the resistance at 1285.00.
 
Supports and resistances:
1293.50
1290.00
1285.00
1280.70 Last
1274.00
1271.50
1266.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 22nd Nov, 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: supported by a rising trend line.

 
Pivot: 1.3220
 
Our preference: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.
 
Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.
 
Comment: the RSI is mixed to bullish.
 
Supports and resistances:
1.3320
1.3300
1.3280
1.3250 Last
1.3220
1.3200
1.3180

USD/JPY Intraday: under pressure.

 
Pivot: 112.50
 
Our preference: short positions below 112.50 with targets at 111.95 & 111.70 in extension.
 
Alternative scenario: above 112.50 look for further upside with 112.70 & 113.00 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
113.00 ***
112.70 ***
112.50 ***
112.20 Last
111.95 ***
111.70 ***
111.35 ***

EUR/USD Intraday: continuation of the rebound.

 
Pivot: 1.1730
 
Our preference: long positions above 1.1730 with targets at 1.1775 & 1.1810 in extension.
 
Alternative scenario: below 1.1730 look for further downside with 1.1710 & 1.1685 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.1850
1.1810
1.1775
1.1765 Last
1.1730
1.1710
1.1685

AUD/USD Intraday: bullish bias above 0.7555.

 
Pivot: 0.7555
 
Our preference: long positions above 0.7555 with targets at 0.7590 & 0.7610 in extension.
 
Alternative scenario: below 0.7555 look for further downside with 0.7530 & 0.7510 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
0.7635 ***
0.7610 ***
0.7590 ***
0.7575 Last
0.7555 ***
0.7530 ***
0.7510 **

Crude Oil‏ (WTI)‏ (F8) Intraday: further advance.

 
Pivot: 57.20
 
Our preference: long positions above 57.20 with targets at 58.15 & 58.60 in extension.
 
Alternative scenario: below 57.20 look for further downside with 56.85 & 56.55 as targets.
 
Comment: the RSI advocates for further upside.
 
Supports and resistances:
59.00
58.60
58.15
57.86 Last
57.20
56.85
56.55

Gold spot Intraday: continuation of the rebound.

 
Pivot: 1276.00
 
Our preference: long positions above 1276.00 with targets at 1290.00 & 1293.50 in extension.
 
Alternative scenario: below 1276.00 look for further downside with 1271.50 & 1266.00 as targets.
 
Comment: the RSI is supported by a bullish trend line.
 
Supports and resistances:
1297.00
1293.50
1290.00
1283.80 Last
1276.00
1271.50
1266.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 23rd Nov, 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: further advance.

 
Pivot: 1.3280
 
Our preference: long positions above 1.3280 with targets at 1.3345 & 1.3375 in extension.
 
Alternative scenario: below 1.3280 look for further downside with 1.3255 & 1.3220 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.3405
1.3375
1.3345
1.3310 Last
1.3280
1.3255
1.3220

USD/JPY Intraday: the downside prevails.

 
Pivot: 111.95
 
Our preference: short positions below 111.95 with targets at 111.00 & 110.65 in extension.
 
Alternative scenario: above 111.95 look for further upside with 112.40 & 112.70 as targets.
 
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
 
Supports and resistances:
112.70
112.40
111.95
111.50 Last
111.00
110.65
110.25

EUR/USD Intraday: the bias remains bullish.

 
Pivot: 1.1785
 
Our preference: long positions above 1.1785 with targets at 1.1850 & 1.1880 in extension.
 
Alternative scenario: below 1.1785 look for further downside with 1.1755 & 1.1735 as targets.
 
Comment: the RSI is mixed to bullish.
 
Supports and resistances:
1.1910
1.1880
1.1850
1.1820 Last
1.1785
1.1755
1.1735

AUD/USD Intraday: the upside prevails.

 
Pivot: 0.7590
 
Our preference: long positions above 0.7590 with targets at 0.7625 & 0.7650 in extension.
 
Alternative scenario: below 0.7590 look for further downside with 0.7560 & 0.7530 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
0.7675 ***
0.7650 ***
0.7625 ***
0.7610 Last
0.7590 ***
0.7560 ***
0.7530 ***

Crude Oil‏ (WTI)‏ (F8) Intraday: supported by a rising trend line.

 
Pivot: 57.50
 
Our preference: long positions above 57.50 with targets at 58.20 & 58.60 in extension.
 
Alternative scenario: below 57.50 look for further downside with 57.15 & 56.85 as targets.
 
Comment: the RSI lacks downward momentum.
 
Supports and resistances:
59.00
58.60
58.20
57.90 Last
57.50
57.15
56.85

Gold spot Intraday: bullish bias above 1284.00.

 
Pivot: 1284.00
 
Our preference: long positions above 1284.00 with targets at 1297.00 & 1300.00 in extension.
 
Alternative scenario: below 1284.00 look for further downside with 1279.00 & 1276.00 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1303.50
1300.00
1297.00
1289.27 Last
1284.00
1279.00
1276.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 24th Nov, 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: intraday support around 1.3280.

 
Pivot: 1.3280
 
Our preference: long positions above 1.3280 with targets at 1.3315 & 1.3335 in extension.
 
Alternative scenario: below 1.3280 look for further downside with 1.3255 & 1.3220 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1.3375
1.3335
1.3315
1.3300 Last
1.3280
1.3255
1.3220

USD/JPY Intraday: under pressure.

 
Pivot: 111.65
 
Our preference: short positions below 111.65 with targets at 111.05 & 110.65 in extension.
 
Alternative scenario: above 111.65 look for further upside with 111.95 & 112.40 as targets.
 
Comment: the upward potential is likely to be limited by the resistance at 111.65.
 
Supports and resistances:
112.40
111.95
111.65
111.35 Last
111.05
110.65
110.25

EUR/USD Intraday: intraday support around 1.1825.

 
Pivot: 1.1825
 
Our preference: long positions above 1.1825 with targets at 1.1860 & 1.1880 in extension.
 
Alternative scenario: below 1.1825 look for further downside with 1.1800 & 1.1770 as targets.
 
Comment: technically the RSI is above its neutrality area at 50.
 
Supports and resistances:
1.1910
1.1880
1.1860
1.1846 Last
1.1825
1.1800
1.1770

AUD/USD Intraday: intraday support around 0.7600.

 
Pivot: 0.7600
 
Our preference: long positions above 0.7600 with targets at 0.7640 & 0.7660 in extension.
 
Alternative scenario: below 0.7600 look for further downside with 0.7575 & 0.7555 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
0.7680 ***
0.7660 **
0.7640 ***
0.7625 Last
0.7600 ***
0.7575 **
0.7555 ***

Crude Oil‏ (WTI)‏ (F8) Intraday: further upside.

 
Pivot: 58.15
 
Our preference: long positions above 58.15 with targets at 59.00 & 59.40 in extension.
 
Alternative scenario: below 58.15 look for further downside with 57.80 & 57.30 as targets.
 
Comment: the RSI advocates for further advance.
 
Supports and resistances:
60.00
59.40
59.00
58.61 Last
58.15
57.80
57.30

Gold spot Intraday: bullish bias above 1286.00.

 
Pivot: 1286.00
 
Our preference: long positions above 1286.00 with targets at 1297.00 & 1300.00 in extension.
 
Alternative scenario: below 1286.00 look for further downside with 1279.00 & 1276.00 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1303.50
1300.00
1297.00
1291.00 Last
1286.00
1279.00
1276.00

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 27th Nov, 2017
By FxGrow Research & Analysis Team

GBP/USD Intraday: continuation of the rebound.

 
Pivot: 1.3305
 
Our preference: long positions above 1.3305 with targets at 1.3360 & 1.3375 in extension.
 
Alternative scenario: below 1.3305 look for further downside with 1.3280 & 1.3255 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.3390
1.3375
1.3360
1.3330 Last
1.3305
1.3280
1.3255

USD/JPY Intraday: consolidation.

 
Pivot: 111.70
 
Our preference: short positions below 111.70 with targets at 111.05 & 110.80 in extension.
 
Alternative scenario: above 111.70 look for further upside with 111.95 & 112.15 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
112.15
111.95
111.70
111.40 Last
111.05
110.80
110.65

EUR/USD Intraday: the bias remains bullish.

 
Pivot: 1.1895
 
Our preference: long positions above 1.1895 with targets at 1.1960 & 1.1990 in extension.
 
Alternative scenario: below 1.1895 look for further downside with 1.1855 & 1.1825 as targets.
 
Comment: the RSI is mixed to bullish.
 
Supports and resistances:
1.2020
1.1990
1.1960
1.1931 Last
1.1895
1.1855
1.1825

AUD/USD Intraday: continuation of the rebound.

 
Pivot: 0.7605
 
Our preference: long positions above 0.7605 with targets at 0.7640 & 0.7660 in extension.
 
Alternative scenario: below 0.7605 look for further downside with 0.7590 & 0.7575 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
0.7675 **
0.7660 **
0.7640 ***
0.7630 Last
0.7605 ***
0.7590 ***
0.7575 **

Gold spot Intraday: rebound.

 
Pivot: 1289.00
 
Our preference: long positions above 1289.00 with targets at 1297.00 & 1300.00 in extension.
 
Alternative scenario: below 1289.00 look for further downside with 1286.00 & 1283.00 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1304.00
1300.00
1297.00
1292.00 Last
1289.00
1286.00
1283.00

Crude Oil‏ (WTI)‏ (F8) Intraday: the upside prevails.

 
Pivot: 58.15
 
Our preference: long positions above 58.15 with targets at 59.40 & 60.00 in extension.
 
Alternative scenario: below 58.15 look for further downside with 57.80 & 57.30 as targets.
 
Comment: the RSI calls for a new upleg. The prices remain supported by a rising trend line, which should call for a new rise. A strong support at 58.15 should also limit any downward attempts.
 
Supports and resistances:
60.45
60.00
59.40
58.71 Last
58.15
57.80
57.30

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th Dec, 2017
By FxGrow Research & Analysis Team

Gold Breaks The Pennant After Long Consolidation Sessions

After sixty consolidation session where gold was fluctuating between 70s and 90s levels, gold has finally broke the pennant that has been confined inside with sideways range and congestion. The precious metal gaped downward on Monday, then peeked to 1277 yesterday, but failed to press forward and dipped to 1261 low.

Fundamentally, the U.S tax plan approval during the weekend boosted the U.S Dollar and last week's upbeat U.S economic data has increased the odds of U.S Fed hike pushing the DXY to 93.45 high today. On the other hand, failure between UK and Eurozone is still weakening the British pound and EURO, giving more strength to the greenback against XAUUSD.

Gold Technical Overview

Closing price: 1265.85

Target price: 1251

Trend: Sideways / Down

Trend reversal price: 1286

Resistance levels: 1271, 1276

Support levels: 1258, 1251

Comment The market extended the short term flagging downturn and suggests further selling to 1251. Minor corrections should stay in the 1270's to maintain bear trend forces. A push over 128050 stops pressing bear forces, but only a close over 1286.00* highlights a lasting turn to higher prices.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 07th Dec, 2017
By FxGrow Research & Analysis Team

EUR/USD: Downside Action More Likable Ahead of Draghi Speech

EUR/USD has entered the fourth cosolodation session with choppy sideways trading. The pair has failed to stay above 1.1800 (10-EMA) level since Monday and still flirting with 1.1780 support level.

The pair lost traction after reports indicating rough negotiations with the UK and Brexit deal, weighing negatively on the EURO. On the other hand, last weak upbeat U.S data and approval for tax plan is still boosting the U.S dollar with expectations for more upward action as the Dec. rates odds are on the U.S Fed's menu.

Draghi, head of ECB will cross wires today but expectations are high for a neutral stance, no game changer for the EURO currency.

EUR/USD technical overview

Closing price: 1.1797

Target price: 1.1760

Resistance levels: 1.1840+, 1.1870, 1.1900*

Support levels: 1.1760-50, 1.1700-

Trend: Sideways / Down

Trend reversal price: 1.1900

Comment The choppy slide this week is shifting the short term trend bias down and warns for a larger unfolding selling wave to 1.1760-/1.1700. Trade is poised for selling pressures today. A reluctance to extend / stay under 1.1800- cautions for a bounce into congestion near 11840. However, a close over 1.19000* is needed to highlight a reversing upturn form corrections to launch a fresh bull wave near 1.2000+.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 08th Dec, 2017
By FxGrow Research & Analysis Team

Britain and EU Strike Brexit Deal, EUR and GBP Up?

The EU and UK managed finally to reach a deal and move forward with Brexit as major news sources has just headlined as a breaking news. As a result, expectations for more upward action for British pound and some upward corrections as a retracement for the EURO. On the other hand, U.S will release major data today with NFP taking center stage.

GBP/USD technical overview:

Closing price: 1.3473

Trend: Sideways / Up

Target price: 1.3590?

Resistance levels: 1.3505, 1.3590-1.3667

Support levels: 1.3418, 1.3353*-, 1.3290

Trend reversal price: 1.3353

Comment Overall the market is short term bullish. A close over 13505 will rekindle bull trending to reach previous peaking levels at 1.3612+. A close over 1.3667 is bullish for moves to 1.3860. Be prepared for a near term slip and congestion inside the upper half of yesterday's range. Stable action over 1.3400+ suggests a build up for rallies. A close under 1.3353* highlights a topping turnover and chance for declines along 1.3200.  

EUR/USD Technical overview:

Closing price: 1.1772

Target price: 1.1760 ( Achieved)

Resistance levels: 1.1836, 1.1876-1.1897*

Support levels:  11760-50, 11700-

Trend: Sideways / Down

Trend reversal price: 1.1897

Comment: The choppy slide this week is shifting the short term trend bias down and warns for a larger unfolding selling wave to 1.1760-/1.1700. Trade is poised for selling pressures today. Trade may recover for near term congestion just over 1.1800+. However, a close over 1.1897* is needed to highlight a reversing upturn form corrections to launch a fresh bull wave near 1.2000+.

U.S Dollar Index Technical Overview:

DEC US DOLLAR

Closing price(9378)

Target price: 94.05

Resistance levels: 93.89, 94.055*

Support levels: 9343, 9318, 9294*

Trend: Sideways / Up

Trend reversal price: 92.94

Comment The market has worked into a short term bottoming / bullish pattern and targets rallies to 94.055* resistance to challenge for a larger upturn. A close over 94.055* is bullish. Any minor dips should level off into sideways basing action off the low 93.00 area. A close under 92.94* is needed to reverse back to lower prices.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

[FxGrow Support]

FxGrow Daily Technical Analysis – 11th Dec, 2017
By FxGrow Research & Analysis Team

GBP/USD Inching Higher Ahead of UK's Inflation Report

GBP/USD inaugurated Monday's trading session with bulls in action clocking 1.3427 high and 1.3366 low. The cable took a massive punch on Friday after releasing positive U.S Data, retreating from 1.3520 high and plunging to 1.3355 low. Technically, expectations for further upside action for the cable seems limited especially Friday's daily candle engulfing Thursday's strong bullish candle.

Fundamentally, a busy week for the market, first with today's CPI data coming from the UK with expectations placed at 3%, as as previous outcome. We are looking for a deviation in the inflation today which could set a more dovish tone for BOE's economic statement on Thursday taking into consideration that rates will stay put. On the other hand, FOMC meeting on Wednesday is taking all the attention with high expectations for hike.

Last but not least, market is looking forward  to the UK PM Theresa May’s cabinet meeting scheduled later today, with the key agenda on the Brexit negotiations ahead of this week’s EU Summit.

GBP/USD Technical overview:

Closing price: 1.3395

Target price:  None

Resistance levels: 1.3463, 1.3505+, 1.3610-67

Support levels: 1.3353*-, 1.3290

Trend: Sdwys/Up

Trend reversal price: 1.3353

Comment Overall the market is still short term bullish. A close over 1.3505 will rekindle bull trending to reach previous peaking levels at 1.3612+. A close over 1.3667 is bullish for moves to 1.3860. Friday's back off alerts for near term corrections. A close under 1.3353* highlights a topping turnover and chance for declines along 1.3240-00.

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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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FxGrow Daily Technical Analysis – 12th Dec, 2017
By FxGrow Research & Analysis Team

EUR/USD Trading Flat Ahead of Zew Sentiment And U.S PPI

EUR/USD has been trading flat since Monday with low price, 28-pips and 1.1788 high. On technical level, the pair is still sold off with daily downtrend and expectations for further downside action. On the upside, EURO bulls should be contaminated at 10-EMA at 1.1800 level along with yesterday's upper daily wick. The pair could test daily rising trend line at 1.1740 level, and in case EUR/USD closed below it, then further dips are expected.

On the fundamental level, market awaits German Zew sentiment which will be released shortly and expectations that the sentiment could call behind at 17.4. On NY opening sessions, U.S is due to release Producer Price Index which could shake the market a bit as eyes will be focused on Wednesday and Thursday with FOMC and ECB meeting. On the other hand, Draghi will cross wires today, but taking into consideration the ECB event on Thursday, the speech should be neutral without any major effect. As for tomorrow, it is highly anticipated that the U.S Fed will hike rates at 1.50% with 0.25% point basis which should add more pressure on the pair temporary till market take an action for the FOMC statement.  

EUR/USD Technical Overview:

Closing price: 1.1769

Target price: None

Resistance levels: 1.1800, 1.1880, 1.1860*

Support levels: 1.1720-1.1709*, 1.1640

Trend: Sideways / Down

Trend reversal price: 1.1860*

Current None 11881, 11910, 11954* 11807-11799*, 11728

Sdwys/Down

Comment: The current slide puts short term trend forces down and warns for a larger unfolding selling wave to 1.1640. Trade is poised for selling and a close under 1.1709* will fuel selloffs. Trade may recover for near term congestion up near 1.1820. However, a close over 1.1860* is needed to highlight a reversing upturn for a bull wave over 1.1920+.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.