Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 25th Nov, 2015
By FxGrow Research & Analysis Team

EURUSD below 1.0600 - getting closer to test of this year's low

Today's macro data series from the US economy led to a further strengthening of the dollar. Published data of durable goods orders are better that expected and US citizens income raised month to month. What is more, jobless claims fell by 13000.

It is another week when EURUSD deepens its lows. And it's hard to think about bigger rebound while low of this year wasn't tested again. Target for declines is at level 1.0500 and there should be rebound. Because for a quite long time EURUSD falls without any correction. If there will be rebound nearest resistances are at levels: 1.0600, 1.0680, 1.0730.

Time-frame M30:

Time-frame D1:

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Nov, 2015
By FxGrow Research & Analysis Team

USDCAD - another test of resistance 1.3400 without a deep rebound

On Monday for the second time was tested resistance at level 1.3400. Right now rebound after that test is low. First test was in September 29 and rebound regressed price of 550 pips what took two weeks. In the coming days demand should to carry out another attack at the resistance. Deeper declines appear only when dollar start a correction of the current strengthening. Importance of level 1.3400 is visible only at monthly interval. At this level the price reacted many times in the years 1992-2005. If this resistance will be break above next target for demand is at the level 1.3860. However if there will be a rebound nearest supports are at levels: 1.3280, 1.3180 and 1.3060 which is strengthened by uptrend line.

Time-frame H4

Time-frame Monthly

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Nov, 2015
By FxGrow Research & Analysis Team

AUDJPY - rebound from important resistance

After dynamic falls in August, AUDJPY did not deepen established lows. Even more upward movement is getting stronger. Demand has exceeded the fibo 61,8% level of August's downward movement. Strong resistance, which make rebound is the downward gap from August 24. Break above 89.30 will be a strong buy signal.

However at this moment it is more likely that decline will be a little deeper before demand will test for the second time pointed resistance. Nearest supports are at levels 88.10, 87.40, 86.50, 85.50. If 89.30 breaks next resistance is at 90.30 but upward movement could reach much higher.

Time-frame H4

Time-frame D1

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 27th Nov, 2015
By FxGrow Research & Analysis Team

EURJPY - this year's lows at the viewfinder of supply

Since half year price moves in downward trend. On last Friday supply break below important support at 131.00 level. Today EURJPY drop below 130.00. Nearest target of declines is level 128.80. Below it is strong support at 127.20 level. Currently it is more likely if there won't be any macro data which could make upward movement, only 127.20 level could make a rebound.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 27th Nov, 2015
By FxGrow Research & Analysis Team

EURGBP - two weeks in consolidation of range 100 pips

EURGBP moves in consolidation after strong wave of sell-off started on mid-October. Price moves between 0.7080 - 0.6980. If price break below support at 0.6980 level next support is low from this year's July 0.6935. After its break, next support is at 0.6600 level, which was in the game in 2004 - 2007 years. However if supply will be strong enough and 0.7080 level will be break above, next supports are at levels: 0.7100, range: 0.7130 - 0.7150, 0.7200.

For 6 years EURGBP moves in strong downward trend. The next lower lows and lower highs are break by corrections and it confirms current downward trend. Therefore there is more likely break below from the lower limit of that consolidation.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 30th Nov, 2015
By FxGrow Research & Analysis Team

EURCAD - close to break below support

Since 2012 there is a huge volatility at EURCAD. Clear trends last many months, and later there is no consolidation, but new dynamic trends. Since August 2015 from 1.5560 level there is a downward move, which currently approaches fibo 61.8% level. At that level fibo 61,8% coincides with support and round 1.4000. Test of that level should occur during few next sessions.

That level will be a good moment for price to rebound. Even if rebound will not be very strong, it still should occur. Nearest resistances: 1.4260, 1.4360, 1.4550, 1.4640. However if rebound will be too weak and pointed supports will be broken, next base level for bulls can be found at: 1.3760, 1.3560, 1.3400, 1.3230, 1.3100

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 01st Dec, 2015
By FxGrow Research & Analysis Team

AUDCAD - break above strong resistance, nearest target 0.9750

Today AUDCAD break above strong resistance at 0.9660 and with strong upward candle moving toward next resistance. So high was for the last time in August 2015. During few next sessions it could be a withdrawal and descent should be stopped at new support 0.9660. If another resistance will be break above next base level for bulls can be found at: 0.9870 but it will be hard what I show below.

Wider view, time-frame W1
Since march 2014 AUDCAD moves in downward trend what confirms lower highs and lower lows. However since September 2015 there is a rebound, which is moving to resistance coincides with fibo 50% and downtrend line. Pointed level which should stopped upward movement is 0.9750. Its easy break above will not be easy and should be preceded by consolidation, otherwise the price can quickly return to a downtrend.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 01st Dec, 2015
By FxGrow Research & Analysis Team

EURUSD - moves up after macro data

Surprising data from the US economy cause dynamic upward movement at EURUSD. The ISM index was lower than forecasts. Instead of the expected 50,4 index dropped to 46,6 which means entry into the recession zone. Currently EURUSD moves under low volatility and since 1,5 months there wasn't bigger rebound. Also price rebounded today from 1.0570 level which is the last support before this year's low.

This all may indicate that it's time for an upward correction. Targets for the bulls are located at: 1.0640, 1.0690, 1.0760. Stronger upward movement is currently unlikely until Thursday, when ECB meeting takes place. The market expects further easing of monetary policy, and this should lead to further declines in EURUSD.

For more in depth Research & Analysis please visit FxGrowhttps://secure.fxgrow.com/b.php?cid...yb3cuY29tL3Byb21vX2RldGFpbHMucGhwP2Fkc19pZD02.

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 – 02nd Dec, 2015
By FxGrow Research & Analysis Team

EURNZD - return to downward trend

Yesterday EURNZD broke below important support. This means six months of upward movement has been wrecked. It is worth noticing, that in long term price moves in downward trend. However last dynamic upward movement (observed in August) ended with a very long upper shadow (visible on a monthly time-frame). Currently there could be a rebound to support at 1.6040. That rebound should begin from next support at 1.5820 or from a current level. After price behavior at 1.6040 we should be able to forsee EURNZD further directions. More likely and in line with main trend is return to declines. Nearest supports: 1.5820, 1.5660, 1.5400, 1.5000. Nearest resistances: 1.6040, 1.6210, 1.6350, 6500.

For more in depth Research & Analysis please visit FxGrowhttps://secure.fxgrow.com/b.php?cid...yb3cuY29tL3Byb21vX2RldGFpbHMucGhwP2Fkc19pZD02.

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 – 02nd Dec, 2015
By FxGrow Research & Analysis Team

GBPUSD – attempts of support defense at 1.5000 level'

GBPUSD began this week at new 6-months low. And today after one-session break, price deepened the low. If support at 1.5000 breaks, nearest target will be at: 1.4740 and next at area 1.4600-1.4565 which is a 5-year low. Alternatively if rebound occurs, the next resistances will be at: 1.5120, 1.5240, 1.5370.

Perspective of the first rate hike in USA causes the dollar strengthening against most of the currencies. Further direction of GBPUSD movement is dependent on Friday's Non-farm Payrolls.

For more in depth Research & Analysis please visit FxGrowhttps://secure.fxgrow.com/b.php?cid...yb3cuY29tL3Byb21vX2RldGFpbHMucGhwP2Fkc19pZD02.

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.