FxGrow Support Posted July 31, 2015 Author Report Share Posted July 31, 2015 Daily Market Analysis – 31st July, 2015By FxGrow Research & Analysis TeamGreek Bailout - IMF won't back Greek deal without reforms The International Monetary Fund said after its board meeting on Wednesday that it cannot officially join the €86bn third bailout deal for Greece as the country’s debt levels are unsustainable. "As we've said before, the IMF can only support a program that is comprehensive. What do we mean? We mean a program that ensures medium-term sustainability" - IMF spokesperson, Angela Gaviria. "In order to ensure that sustainability, that medium-term sustainability, there's a need for difficult decisions on both sides and by both sides. I mean, difficult decisions in Greece regarding reforms, and difficult decisions for Greece's European partners about debt relief” - IMF spokesperson, Angela Gaviria. “According to its own rules, the IMF cannot participate in any new bailout. I mean, they’ve already violated their rules twice to do so, but I don’t think they will do it a third time” - Greek finance minister. Germany has insisted that IMF has to be involved in the new 86 billion euro bailout deal. Greece needs to repay 3.2 billion euro to the European Central Bank on August 20 and with the recent IMF move will make it difficult for Greece to receive the new bailout funds in time. "There is a need for difficult decisions on both sides... difficult decisions in Greece regarding reforms, and difficult decisions among Greece's European partners about debt relief" - IMF official. Greece's talks with its International creditors for a €86bn third bailout deal continue with top officials from the European Union and International Monetary Fund meeting key ministers in Athens. Greek Prime Minister Alexis Tsipras is seeking support from Syriza party for accepting the tough bailout as demanded by its European creditors. “We are telling the Greek people loud and clear and with no remorse that this is the deal we managed to bring to them and if there is someone who thinks that they could have achieved a better deal, let them come out and say that” - Greek PM Alexis Tsipras. US Economy grew by 2.3% in the second quarter of 2015 according to the Commerce Department. Initial jobless claims rose by 12K in the week ended July 25 according to the Labor Department. In Japan household spending declined for the month of June showing signs of contraction in the world's third biggest economy. Annual core consumer inflation rose 0.1% in June. "There's a risk the recent softness in exports and output may hurt corporate sentiment just when companies were beginning to turn more aggressive on investment" - Koji Ishida, Bank of Japan board member. New Zealand Business Confidence declined to the lowest level in 6 years according to ANZ Business Outlook. Crude oil prices fell to $47.66 on concerns of oversupply after OPEC indicated there would be no cuts in production. Gold is trading lower in the Europe at 1083.44, while Silver is weak at 14.6231st July 2015 – 12:23hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 3, 2015 Author Report Share Posted August 3, 2015 Daily Technical Analysis – 03rd Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was indecisive last week and opened the week lower this morning. Now the pair is trading below its 20day moving average of 1.0997 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1050RSI (14) is Neutral; STOCH (9, 6), STOCHRSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator indicate a BUY; while Average True Range (14) indicates Less Volatility.Support is at 1.0947 while Resistance is at 1.103403rd Aug 2015 – 07:29hrs GMTGBPUSDGBPUSD was bullish last week and opened the week at same levels. Now the pair is trading above its 20day moving average of 1.5628 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5700STOCH (9, 6), Ultimate Oscillator are Neutral; RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), ROC indicate a BUY; CCI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.5551 while Resistance is at 1.567503rd Aug 2015 – 07:45hrs GMTFor 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. Daily Technical Analysis – 03rd Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bearish last week and opened the week at same levels. Now the pair is trading below its 20day moving average of 0.7309 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7200RSI (14) is Neutral; STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 0.7256 while Resistance is at 0.732803rd Aug 2015 – 07:50hrs GMTUSDJPYUSDJPY was bullish last week and opened the week higher. Now the pair is trading above its 20day moving average of 123.95 in the European trading session. The near term bias remains Neutral to Bullish with targets of 124.70RSI (14) is Neutral; STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 123.63 while Resistance is at 124.3703rd Aug 2015 – 07:55hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 3, 2015 Author Report Share Posted August 3, 2015 Daily Market Analysis – 03rd Aug, 2015By FxGrow Research & Analysis TeamUS Consumer Sentiment declines to the lowest level in the last eight months Consumer confidence slipped a bit in the July 2015 survey. A disappointing pace of economic growth was the main reason for the small decline in consumer confidence - University of Michigan. The Sentiment Index was 93.1 in the July 2015 survey, down from 96.1 in June. A disappointing pace of economic growth was the main reason for the small decline in consumer confidence. Importantly, consumers still anticipate that the expansion will continue - University of Michigan. While expected changes in unemployment have been trendless at positive levels in the past year, the July survey was the first since last September that consumers on balance expected no significant change in the rate of joblessness during the year ahead - University of Michigan. US economy growth has been low this year, with an annual rate of growth at just 0.6% from January to March 2015. Most of the economists still see that the Federal Reserve will raise its interest rates later this year. Gold has opened the week lower with prices down as much as 7 percent after Federal Reserve indicated the prospects of raising its interest rates this year. Investors are awaiting the US Non-Farm Payrolls data this week which will provide fresh clues on the timing of the rate hike and the strength of the US economy. In China manufacturing activity declined to the lowest level in 2 years showing signs of a further slowdown in the later part of the year. Caixin manufacturing PMI declined to 47.8 in the month of July the weakest level seen since 2013. Eurozone Consumer Inflation rose to 1.0%, while the unemployment rate remained at 11.1% In Canada Economic output shrank 0.2% in May according to the data released by the Statistics Canada. Greek Stock markets opened today after a 5 - week shutdown, with restriction put in place due to capital controls. The Greek benchmark index slumped by 19 percent to 649.48 reaching the lowest levels seen since September 2012. Greek Banking sector was in spotlight as their shares were down due to Recapitalization, Bad debts and they are not expected to make any profits this year. Crude oil prices fell to $46.41 on weak China data and oversupply concerns. Gold is trading lower in the Europe at 1092.90, while Silver is weak at 14.6903rd Aug 2015 – 10:14hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 4, 2015 Author Report Share Posted August 4, 2015 Daily Technical Analysis – 04th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD did not made any major moves yesterday and remained Neutral. Now the pair is trading just above its 20day moving average of 1.0953 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1010RSI (14), STOCH (9, 6) are Neutral; ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.0940 while Resistance is at 1.097604th Aug 2015 – 07:20hrs GMTGBPUSDGBPUSD did not make any significant moves yesterday and remained Neutral. Now the pair is trading just above its 20day moving average of 1.5594 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5650RSI (14), ADX (14) are Neutral; STOCH (9, 6), CCI (14), Ultimate Oscillator, ROC, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.5570 while Resistance is at 1.563604th Aug 2015 – 07:26hrs GMTFor 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. Daily Technical Analysis – 04th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD did not make any significant moves yesterday and remained Neutral. Now the pair is trading above its 20day moving average of 0.7295 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7450STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), ROC, MA100, MA200 indicate a BUY; RSI (14), STOCHRSI (14), Ultimate Oscillator is Overbought; while Average True Range (14) indicates High Volatility.Support is at 0.7350 while Resistance is at 0.740104th Aug 2015 – 07:37hrs GMTUSDJPYUSDJPY was indecisive yesterday and did not make any major moves. Now the pair is trading below its 20day moving average of 124.00 in the European trading session. The near term bias remains Neutral to Bearish with targets of 123.50ADX (14), Ultimate Oscillator are Neutral; RSI (14), MACD (12, 26), CCI (14), ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.Support is at 123.85 while Resistance is at 124.1804th Aug 2015 – 07:42hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 4, 2015 Author Report Share Posted August 4, 2015 Daily Market Analysis – 04th Aug, 2015By FxGrow Research & Analysis TeamReserve Bank of Australia holds rates steady at 2 percent At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 percent - Reserve Bank of Australia. The global economy is expanding at a moderate pace, but some key commodity prices are much lower than a year ago. Much of this trend appears to reflect increased supply, including from Australia. Australia's terms of trade are falling nonetheless - Reserve Bank of Australia. The Federal Reserve is expected to start increasing its policy rate later this year, but some other major central banks are continuing to ease policy. Hence, global financial conditions remain very accommodative. Despite fluctuations in markets associated with the respective developments in China and Greece, long-term borrowing rates for most sovereigns and creditworthy private borrowers remain remarkably low - Reserve Bank of Australia. In Australia, the available information suggests that the economy has continued to grow. Overall, the economy is likely to be operating with a degree of spare capacity for some time yet. Recent information confirms that domestic inflationary pressures have been contained. In such circumstances, monetary policy needs to be accommodative. Low interest rates are acting to support borrowing and spending - Reserve Bank of Australia. Further information on economic and financial conditions to be received over the period ahead will inform the Board's ongoing assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target - Reserve Bank of Australia. Following the news AUDUSD soared and is currently trading at 0.7382 in the European trading session. The Euro zone manufacturing PMI came in at 52.4 for the month of July as the manufacturing sector continues to grow amid Greek debt crisis. "Policymakers will be reassured by the robust growth rates seen in these countries and the resilience of the manufacturing sector as a whole, especially as growth is likely to pick up again now that Greece has jumped its latest hurdle in the ongoing debt crisis" - Chris Williamson, chief economist at Markit. UK Manufacturing PMI rose to 51.9 for the month of July as the British economy continues to gain momentum. "Although a tick higher in the headline PMI breaks the decelerating trend in UK manufacturing, growth in the sector remains near-stagnant and suggests that the sector is continuing to act as a drag on the economy" - Rob Dobson, Markit. Crude oil is trading lower at $45.87 on slowdown in China and oversupply concerns. Gold is trading lower in the Europe at 1092.85, while Silver is weak at 14.5504th Aug 2015 – 09:50hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 5, 2015 Author Report Share Posted August 5, 2015 Daily Technical Analysis – 05th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was mildly bullish yesterday and remained firm towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7380 in the European trading session. The near term bias remains Bearish with targets of 0.7310STOCH (9, 6), STOCHRSI (14), ADX (14), CCI (14), ROC indicate a SELL; RSI (14) is Neutral; while Average True Range (14) indicates Less Volatility.Support is at 0.7327 while Resistance is at 0.742805th Aug 2015 – 07:49hrs GMTUSDJPYUSDJPY was mildly bullish yesterday and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 124.26 in the European trading session. The near term bias remains Bullish with targets of 124.80RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), ROC, MA100, MA200 indicate a BUY; while Average True Range (14) indicates Less Volatility.Support is at 124.22 while Resistance is at 124.4705th Aug 2015 – 07:54hrs GMTFor 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. Daily Technical Analysis – 05th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was bearish yesterday and remained weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.0899 in the European trading session. The near term bias remains Bearish with targets of 1.0800RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Neutral; while Average True Range (14) indicates Less Volatility.Support is at 1.0848 while Resistance is at 1.091505th Aug 2015 – 07:38hrs GMTGBPUSDGBPUSD remained indecisive yesterday towards the end of the trading session. Now the pair is trading just below its 20day moving average of 1.5572 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5520RSI (14), ADX (14) are Neutral; STOCH (9, 6), MACD (12, 26), ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.5510 while Resistance is at 1.560005th Aug 2015 – 07:44hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 5, 2015 Author Report Share Posted August 5, 2015 Daily Market Analysis – 05th Aug, 2015By FxGrow Research & Analysis TeamGreece in severe depression after third bailout Greece is trapped in a prolonged and severe depression after securing the third bailout from its European creditors. The country will need a debt write-down of €95 billion to avoid a permanent recession according to the National Institute of Economic and Social Research (NIESR). “We don’t see Greece getting back to the level it was when it joined the euro in 2001, let alone anywhere near where it was before this crisis struck, so this is a prolonged and severe depression for Greece” - Jack Meaning, NIESR. “Certainly, as the prospects for Greece deteriorate while inside the euro area, questions over Greece remaining a member will persist” - NIESR. Greek bank shares sold off sharply for the third day in a row on Wednesday with buyers yet to emerge on a scale large enough to counter continued dumping of the stocks - Reuters. Greece's banks have seen deposits severely depleted as Greeks pulled out their euros for fear they would be forcibly converted into a new drachma outside the euro zone. The banks have been propped up by emergency money from the European Central Bank - Reuters. Greece's dismal economic prospects may also weigh on the market. The European Commission says the Greek economy will shrink by 2 to 4 percent this year, a return to the recession that plagued the country for six years until 2014 - Reuters. EURUSD is down from the yesterday’s high of 1.0985 to trade at 1.0877 in the European trading session today. US Dollar is stronger after comments from Atlanta Fed President Dennis Lockhart said that the US economy was ready for the first rate hike in September. UK PMI services declined to 57.4 in the month of July. Investors are awaiting the Bank of England quarterly inflation report to know the central bank’s growth and inflation outlook. UK construction PMI fell to 57.1 for the month of July amid weak demands. Shortage of new housing and increasing demand has pushed house prices upwards. "Commercial activity was a key growth driver during July, which partly offset ongoing weakness in civil engineering and softer residential building trends" - Tim Moore, Markit. New Zealand unemployment rate rose to 5.9% as the number of n ew jobs created could not meet the growing demand. It is expected that the Reserve Bank of New Zealand will consider further monetary policy easing. "Despite lower quarterly growth, this is still the 11th consecutive quarter of employment growth, making it the second-longest period of growth since the period between 1992 and 1996" - Diane Ramsay, New Zealand. In China services sector rose as Caixin services PMI surged to 53.8 in July, showing a positive sign in the world's second biggest economy. Crude oil is trading lower at $46.20 after Iran’s oil minister said the country could boost output within a week of the lifting of international sanctions. Gold is trading lower in the Europe at 1089.75, while Silver is flat at 14.6105th Aug 2015 – 13:13hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 6, 2015 Author Report Share Posted August 6, 2015 Daily Technical Analysis – 06th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was indecisive yesterday towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.0900 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.0800RSI (14), MACD (12, 26) are Neutral; STOCH (9, 6), CCI (14), Ultimate Oscillator, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 1.0879 while Resistance is at 1.093906th Aug 2015 – 08:31hrs GMTGBPUSDGBPUSD remained indecisive yesterday as it touched a low of 1.5525 and a high of 1.5646 towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5610 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5550RSI (14) is Neutral; STOCH (9, 6), CCI (14), Ultimate Oscillator indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 1.5526 while Resistance is at 1.562706th Aug 2015 – 08:39hrs GMTFor 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. Daily Technical Analysis – 06th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD did not make any significant moves and remained indecisive towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7343 in the European trading session. The near term bias remains Bearish with targets of 0.7270RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a SELL; STOCH (9, 6), STOCHRSI (14) are Oversold; while Average True Range (14) indicates Less Volatility.Support is at 0.7310 while Resistance is at 0.734006th Aug 2015 – 08:57hrs GMTUSDJPYUSDJPY was bullish yesterday as it touched a high of 124.99 and remained firm towards the end of the trading session. Now the pair is trading just above its 20day moving average of 124.82 in the European trading session. The near term bias remains Bullish with targets of 125.50RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, MA100, MA200 indicate a BUY; while Average True Range (14) indicates Less Volatility.Support is at 124.43 while Resistance is at 125.0106th Aug 2015 – 09:03hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 10, 2015 Author Report Share Posted August 10, 2015 Daily Technical Analysis – 10th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was indecisive last week and opened the week lower at 1.0949 today. Now the pair is trading above its 20day moving average of 1.0931 in the European trading session. The near term bias remains Bullish with targets of 1.1010RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCH (9, 6), STOCHRSI (14) is Overbought; while Average True Range (14) indicates High Volatility.Support is at 1.0940 while Resistance is at 1.098210th Aug 2015 – 06:44hrs GMTGBPUSDGBPUSD was bearish last week as it touched a low of 1.5423 and opened this week higher at 1.5487 in the Asian trading session. Now the pair is trading below its 20day moving average of 1.5495 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5410RSI (14), STOCH (9, 6), CCI (14) are Neutral; MACD (12, 26), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates High Volatility.Support is at 1.5470 while Resistance is at 1.550910th Aug 2015 – 06:49hrs GMTFor 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. Daily Technical Analysis – 10th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bullish last week and opened the week firm in the early Asian trading session. Now the pair is trading just above its 20day moving average of 0.7383 in the European trading session. The near term bias remains Bullish with targets of 0.7440RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; STOCH (9, 6), STOCHRSI (14) are Overbought; while Average True Range (14) indicates High Volatility.Support is at 0.7394 while Resistance is at 0.742110th Aug 2015 – 07:01hrs GMTUSDJPYUSDJPY was indecisive last week and opened the week higher in the early Asian trading session today. Now the pair is trading below its 20day moving average of 124.60 in the European trading session. The near term bias remains Bearish with targets of 124.00RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.Support is at 124.09 while Resistance is at 124.3410th Aug 2015 – 07:05hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 10, 2015 Author Report Share Posted August 10, 2015 Daily Market Analysis – 10th Aug, 2015By FxGrow Research & Analysis TeamUS Non-Farm Payrolls support Fed Rate Hike in September Total nonfarm payroll employment increased by 215,000 in July, and the unemployment rate was unchanged at 5.3 percent. Job gains occurred in retail trade, health care, professional and technical services, and financial activities - US Bureau of Labor Statistics. Following the NFP data US Dollar rose to a 2 month high versus the Japanese Yen and to a 5 month high against the Swiss Franc. Towards the end of the trading session US dollar gave up its gains due to drop in long bond yields. Non-Farm Payrolls supports the Fed outlook to begin raising Interest rates later this year in September. "I don't think it's done any harm but I don't see anything here that screams that Sep hike chances have increased. The revision to June helps, as does the increase in working hours and the underemployment rate falling. Wages rose as expected but y/y only showed a small gain. There's reasons to be bullish but I don't see this report making the Fed's mind up for definite" - Janus Capital's Bill Gross. "If I had to pick trigger for the Fed to act on jobs it would probably be the unemployment rate dropping to 5.0% or better, and/or a big uptick in wages. Get them up to 2.5%+ y/y and that might be enough for the Fed to pull the trigger" - Janus Capital's Bill Gross. The US dollar remained supported against its major counterparts on Monday after Friday’s strong NFP report supported the Fed rate hike view. In China Exports declined in the month of July due to a strong Yuan and weaker demand in the European Union. "As global growth moderates and commodity prices remain depressed, it is unlikely to see China's trade growth pick up significantly in the remainder of the year" -ANZ Bank. In Canada employment growth was better than expectations with creation of 6.6K Jobs in the month of July. The unemployment rate remained at 6.8%, while participation rate was at 65.7% according to a report by Statistics Canada. German Industrial output declined for the month of June to 1.4% mainly due to risks in the Euro zone and a weak growth in the emerging market countries including China. The British Deficit widened to 1.6 billion pounds in the month of June according to the Office for National Statistics. Greek government is close to securing the third bailout deal of €86bn to prevent an economic collapse just a week before €3bn debt repayment to the European Central Bank is due. "When the new bailout comes to parliament for a vote it will be one bill with two articles - one article will be the loan agreement and the MoU (memorandum of understanding) and the second article will be the prior actions" - Greek official. "Efforts are being made to conclude the negotiations, the horizon is by Monday night or early Tuesday" - Greek official. Crude oil is trading lower at $43.86 amid rising US rig count. Gold is trading higher in the Europe at 1094.69, while Silver is up at 14.9310th Aug 2015 – 10:13hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 11, 2015 Author Report Share Posted August 11, 2015 Daily Technical Analysis – 11th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was bullish yesterday as it touched a high of 1.1040 yesterday and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.1003 in the European trading session. The near term bias remains Bullish with targets of 1.1080RSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.0913 while Resistance is at 1.106511th Aug 2015 – 08:26hrs GMTGBPUSDGBPUSD was bullish yesterday as it touched a high of 1.5603 and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5577 in the European trading session. The near term bias remains Bullish with targets of 1.5650RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; while Average True Range (14) indicates Less Volatility.Support is at 1.5514 while Resistance is at 1.562611th Aug 2015 – 08:30hrs GMTFor 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. Daily Technical Analysis – 11th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bullish yesterday as it touched a high of 0.7437 and remained firm towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7376 in the European trading session. The near term bias remains Bearish with targets of 0.7280RSI (14), STOCHRSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCH (9, 6) is Oversold; while Average True Range (14) indicates High Volatility.Support is at 0.7327 while Resistance is at 0.742811th Aug 2015 – 08:54hrs GMTUSDJPYUSDJPY was bullish yesterday as it touched a high of 124.77 and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 124.67 in the European trading session. The near term bias remains Bullish with targets of 125.50RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.Support is at 124.43 while Resistance is at 125.0611th Aug 2015 – 08:58hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 11, 2015 Author Report Share Posted August 11, 2015 Daily Market Analysis – 11th Aug, 2015By FxGrow Research & Analysis TeamPeople's Bank of China Devalues Yuan to Increase Exports China has devalued the Yuan to combat slowdown, which had ripple effects on the Forex markets as the People’s Bank of China cut its daily reference rate by 1.9 percent. People's Bank of China depreciated Yuan by 1.9 percent against the US dollar to levels seen almost three years back, which came as a shock to the currency markets. The statement that was released by the Central Bank said it had changed the way it calculated the currency's daily midpoint against the greenback, now taking the midpoint from market-makers quotes and the previous day's closing price. Monetary policies in emerging market economies diverged and it was hard to make policies - People's Bank of China. The Yuan dropped 1.8 percent to 6.32 per dollar as of 1:34 p.m. in Shanghai. It slid 2.3 percent in Hong Kong’s offshore trading. The ECB reinforced its accommodative monetary policy. The euro area is confronted with the threat from persistent declining inflation and low growth potential. The Bank of Japan announced additional easing monetary policies. The Bank of England maintained its easing monetary policies - People's Bank of China. The Federal Reserve ended the program of asset purchases. The world economy faces the challenge that the policy rate of the U.S. may rise. The global financial conditions may tighten and emerging market economies may be faced with the sudden reversal of capital flows if the Federal Reserve raises its policy rate earlier than expected - People's Bank of China. "Since China's trade in goods continues to post relatively large surpluses, the Yuan’s real effective exchange rate is still relatively strong versus various global currencies, and is deviating from market expectations" - People's Bank of China. The devaluation followed weekend data that showed China's exports tumbled 8.3 percent in July, hit by weaker demand from Europe, the United States and Japan, and that producer prices were well into their fourth year of deflation - Reuters. The move by the People's Bank of China overnight could have a significant impact on whether the Federal Reserve decides to hike interest rates this year. Greece has agreed a bailout deal with its European creditors according to the European Commission as it said a technical agreement had been reached with Greece, which now requires political approval. In Germany Investor confidence dropped to 25.0 in the month of July according to a report released by the ZEW Center for European Economic Research. Crude oil is trading lower at $44.07 on oversupply and weak global demands. Gold is trading higher in the Europe at 1109.31, while Silver is up at 15.2511th Aug 2015 – 11:41hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 12, 2015 Author Report Share Posted August 12, 2015 Daily Technical Analysis – 12th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was bullish yesterday as it touched a high of 1.1087 yesterday and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.1055 in the European trading session. The near term bias remains Bullish with targets of 1.1170RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), ROC, MA100, MA200 indicate a BUY; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.1045 while Resistance is at 1.111112th Aug 2015 – 08:14hrs GMTGBPUSDGBPUSD was indecisive yesterday towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5573 in the European trading session. The near term bias remains Bullish with targets of 1.5650RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.5530 while Resistance is at 1.564412th Aug 2015 – 08:18hrs GMTFor 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. Daily Technical Analysis – 12th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bearish yesterday and remained weak towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7288 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7360RSI (14), STOCH (9, 6) are Neutral; ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates High Volatility.Support is at 0.7234 while Resistance is at 0.732412th Aug 2015 – 08:23hrs GMTUSDJPYUSDJPY was bullish yesterday and remained firm towards the end of the trading session. Now the pair is trading below its 20day moving average of 125.01 in the European trading session. The near term bias remains Bearish with targets of 124.00RSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14), CCI (14) are Oversold; while Average True Range (14) indicates High Volatility.Support is at 123.75 while Resistance is at 124.7812th Aug 2015 – 08:27hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 12, 2015 Author Report Share Posted August 12, 2015 Daily Market Analysis – 12th Aug, 2015By FxGrow Research & Analysis TeamEuro hits 2-week high after Greece reached third bailout deal with creditors Greece and its international lenders reached an 85 billion euro bailout agreement on Tuesday after nailing down the terms of new loans needed to save the country from financial ruin - Reuters. European Commission spokeswoman said that a technical deal has been reached between Greece, the International Monetary Fund, the European Central Bank, and the European Stability Mechanism. The deal, which came after 23 hours of talks that continued through the night, must still be adopted by Greece's parliament and by euro zone countries - Reuters. Following the news EURUSD reached a 2 week high of 1.1115 and is currently trading at 1.1142 in the European trading session. “The crucial nature of the situation requires the immediate convening of parliament to proceed with the deal’s approval and allow disbursement of the first installment” - Greek PM Alexis Tsipras. The Greek government has submitted a Draft bill in the Parliament today which contains an agreement with its European creditors for securing the third bailout funds. They are expected to pass the bill on Thursday with Euro group meeting scheduled on Friday. According to the agreement, Greece will have to produce a primary budget deficit of 0.25 percent of GDP in 2015, followed by surpluses of 0.5 percent in 2016, 1.75 percent in 2017, and 3.5 percent in 2018. "After this deal the prime minister should call for elections, so that the Greek people can vote on whether they approve the programme or want something else" - Greek Health Minister. Global investors are awaiting the Germany’s IFO survey, which is likely to indicate Europe’s largest economy is on track to post a reasonable pace of growth. Gold rose more than one per cent on Tuesday as the dollar cut gains and European stocks fell and investors assessed the impact of China’s move to devalue its currency and prop up its economy. “Gold’s best moment this year came in the first few months when we saw various FX swings, lots of different central banks cutting interest rates or intervening in their monetary policy, so probably there is some element of that which has helped the rally from Monday continue a bit. Probably gold is benefiting from fears that this is a new round of currency war" - Matthew Turner, analyst at Macquarie. Consumer confidence in Australia rose for the month of August by 7.8% to 99.5 points according to the Westpac-Melbourne Institute. "Movements of the Index of this magnitude are unusual and generally associated with highly significant events such as interest rate moves or Commonwealth Budgets" - Bill Evans, Westpac chief economist. Crude oil is trading lower at $43.45 due to a rapid decline in the value of Yuan. Gold is trading higher in the Europe at 1116.20, while Silver is up at 15.3112th Aug 2015 – 11:42hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 13, 2015 Author Report Share Posted August 13, 2015 Daily Technical Analysis – 13th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was bullish yesterday as it touched a high of 1.1212 yesterday but came down towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1156 in the European trading session. The near term bias remains Bearish with targets of 1.1080STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 1.1078 while Resistance is at 1.114813th Aug 2015 – 07:33hrs GMTGBPUSDGBPUSD was indecisive yesterday but remained on the higher side towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5621 in the European trading session. The near term bias remains Bullish with targets of 1.5670RSI (14), MACD (12, 26), CCI (14), ROC MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 1.5551 while Resistance is at 1.566013th Aug 2015 – 07:36hrs GMTFor 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. Daily Technical Analysis – 13th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bullish yesterday and touched a high of 0.7385 remaining firm towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7375 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7300RSI (14), STOCH (9, 6) are Neutral; ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 0.7322 while Resistance is at 0.738013th Aug 2015 – 07:40hrs GMTUSDJPYUSDJPY was bearish yesterday s it touched a low of 123.79 and then recovered mildly towards the end of the trading session. Now the pair is trading above its 20day moving average of 124.23 in the European trading session. The near term bias remains Bullish with targets of 125.00RSI (14), STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 124.27 while Resistance is at 124.7013th Aug 2015 – 07:44hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 14, 2015 Author Report Share Posted August 14, 2015 Daily Technical Analysis – 14th Aug, 2015By FxGrow Research & Analysis TeamEURUSDEURUSD was indecisive yesterday towards the end of the trading session. Now the pair is trading just above its 20day moving average of 1.1142 in the European trading session. The near term bias remains Neutral.RSI (14), STOCH (9, 6), ADX (14), CCI (14) are Neutral; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 1.1113 while Resistance is at 1.116514th Aug 2015 – 06:47hrs GMTGBPUSDGBPUSD was indecisive yesterday towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5621 in the European trading session. The near term bias remains Bullish with targets of 1.5670RSI (14) is Neutral; STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 1.5590 while Resistance is at 1.562714th Aug 2015 – 06:52hrs GMTFor 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. Daily Technical Analysis – 14th Aug, 2015By FxGrow Research & Analysis TeamAUDUSDAUDUSD was bearish yesterday and touched a low of 0.7321 and then recovered towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7362 in the European trading session. The near term bias remains Bullish with targets of 0.7450RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.Support is at 0.7327 while Resistance is at 0.739414th Aug 2015 – 06:57hrs GMTUSDJPYUSDJPY was indecisive yesterday towards the end of the trading session. Now the pair is trading below its 20day moving average of 124.41 in the European trading session. The near term bias remains Bearish with targets of 124.00RSI (14), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.Support is at 124.22 while Resistance is at 124.4714th Aug 2015 – 07:00hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 14, 2015 Author Report Share Posted August 14, 2015 Daily Market Analysis – 14th Aug, 2015By FxGrow Research & Analysis TeamGreek parliament approves €85bn bailout deal Greek parliament has approved the new €85bn rescue package following a debate and voting on the deal on Friday. The new deal which seeks harsh austerity measures was approved with 222 votes for, 64 votes against and 11 absent in a 24 hour session in the Greek parliament. Greek PM Alexis Tsipras is facing harsh criticism from his own party for accepting the demands of its European creditors, with several members showing dissent and threatening to split the party and call for early elections in Greece. EURUSD was supported by the news that Greek parliament has approved the new bailout deal terms and is currently trading above the 1.1100 level at 1.1133 in the European trading session. International Monetary Fund has welcomed the bailout deal but said that it will wait to see if there is a plan for reducing Greece's debt. “The IMF will remain closely engaged with the Greek government and the European partners to assist in this process, and will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities’ program and debt relief have been taken” - Delia Velculescu, IMF. “The IMF has been adopting a line of, not silence but, we try to be mindful of developments and not be excessive in our positions” - IMF managing director. “There’s a need for difficult decisions on both sides and by both sides. I think everybody understands that the IMF can only be involved when these decisions on these two sides are taken.” - Senior IMF official. Greek PM has called French president François Hollande, European Commission president, leader of European parliament members for approval of the rescue package by the Euro group. Greece Economy has grown unexpectedly in the second quarter of the 2015 as its GDP rose 0.8% from the previous quarter. “The surprise is partly explained by some consumption indices, such as retail sales, that were in positive territory in the second quarter and this was helped by some improvement in the labor market. There was also a very strong positive impact from tourism, which is having increasing knock-on effects on the economy” - Nikos Magginas, economist at National Bank of Greece. The Peoples Bank of China put the Yuan's central parity rate at 6.4010 Yuan for US$1, a drop of 1.11% from the previous day. “The central bank, if necessary, is fully capable of stabilizing the exchange rate through direct intervention in the foreign exchange market to avoid the herd mentality resulting in irrational movements of the rate” - Peoples Bank of China economist Ma Jun. In New Zealand Retail sales fell short of analyst expectations. Retail sales in the second quarter of the 2015 grew by 0.1% while the expectations were for a 0.5% growth. Weak economic data from New Zealand has increased the expectations for a further rate cut by the Reserve Bank of New Zealand. Crude oil is trading lower at $41.92 on oversupply concerns and weak global demand. Gold is trading higher in the Europe at 1117.34, while Silver is up at 15.4614th Aug 2015 – 08:57hrs GMTFor 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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 17, 2015 Author Report Share Posted August 17, 2015 FxGrow Daily Technical Analysis – 17th Aug, 2015By FxGrow Research & Analysis TeamEURUSD (D1) Will the price fall after two bearish formations? Double Top at 1.121 EURUSD and broken growth channel. The second formation is Evening Star (blue color on chart). Target Falls: 1.082 Alternative Scenario: Moving back inside bullish channel.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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 18, 2015 Author Report Share Posted August 18, 2015 FxGrow Daily Technical Analysis – 18th Aug, 2015By FxGrow Research & Analysis TeamUSDCAD ends correction and now it's time for a new peak USDCAD (US Dollar vs. Canadian Dollar) is at levels which were seen in 2004. Traders are biding higher levels what asures that the current trend will maintain. The rally is also supported by the structure of the current growth which formed since bottom made in 2012 a characteristic pattern described in Elliott Wave Theory as a 'Impulse Wave'. The nearest resistance levels are 1.3212 (last peak), then 1.33 and 1.35. The last level is a Fibonnacci dependence where wave 1 = wave 5. Last week USDCAD breached higher out of the downward channel and now it is moving towards the last peak. On 1-hour time frame the price tested the lower bound of the upward channel what have triggered a demand-side response.For this currency pair long positions are preferred.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. Link to comment Share on other sites More sharing options...
FxGrow Support Posted August 20, 2015 Author Report Share Posted August 20, 2015 FxGrow Daily Technical Analysis – 20th Aug, 2015By FxGrow Research & Analysis TeamUSDCHF - bottom exit from consolidation and breached out support For a week USDCHF was moving in consolidation and created a channel with the width of 75 pips Yesterday, the bears were able to breach out of the channel bottom and momentum to break the next support. In the chart it is also showed that there has been a re-test of broken support which has now become resistance. At daily interval situation is even more ambigous. Yesterday's candle breach out of the channel bottom with great force and now it is expected that soon it will move in the direction of 0.95000.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. Link to comment Share on other sites More sharing options...
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