Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 17th Dec, 2015
By FxGrow Research & Analysis Team

AUDJPY - upward movement in uptrend channel

As markets expected on Wednesday evening there was a lot of volatility, and all tis due to the FED decision about interest rates. Finally there was no surprise and FED announced first rates hike since 9 years. Volatility was high just after the announcement however movement was two-sided. There wasn't so much unpredictable movements like after ECB event, which was in early December.

Beside EURUSD high volality was also at AUDJPY. During yesterday's event there were an attempt of broke above resistance at 88.100. For 6 hours price remained above that level and declines were back. Currently price broke again that resistance and upward movement should be continued.

Situation looks Clearly on AUDJPY at daily time-frame.

After sudden drop which was at August 24 (and broke below support at 89.250) price gains in value. New higher high and higher low are established. The movement took a form of uptrend channel. At any time, it may be an attack on the indicated resistance and it is likely that it will be successfully. The nearest resistances: 88.560, 89.250, 90.600. Important support 86.500.

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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 – 17th Dec, 2015
By FxGrow Research & Analysis Team

CADJPY - breakout of support confirmed by a re-test

In previous analysis from December 8 entitled "on its way to support at 88.90" I wrote that after breaking 90.70 level, falls will test 88.90 level. That in fact happened, but supply didn't stop the pressure at that level and last Friday support was broken. Until yesterday there was a rebound which ended today and price already returned to declines.

Currently situation looks very bad for demand side. Upward movement which we saw this week was just a re-test of new resistance. It is likely that declines will become a further direction. Only return above 88.90 level could change declining sentiment on CADJPY. The nearest support can be found at: 87.40, and another in the area 85.00. Resistances are at levels: 88.90, 90.70

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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 – 18th Dec, 2015
By FxGrow Research & Analysis Team

NZDCAD - upward rally is coming to an end?

Since a month NZDCAD moves in a one direction. It is an upward impulse. In that period price gain 800 pips. Volatility of NZDCAD is huge, so it is likely that it will change direction and same dynamic movement will begin in the opposite direction. In last days there were attempts of breaking above resistance at 0.9350 which so far failed. Stronger resistance is 100 pips higher at 0.9450 it is strengthened by Fibonacci 88,6% of earlier downward movement.

December's monthly candle is historically extremely long which may mean that potential for further upward movement is running out. These 800 pips was carried out without correction. Nearest resistances: 0.9350, 0.9450, nearest supports 0.9320, 0.9180, 0.9040.

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.

 

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FxGrow Daily Technical Analysis – 18th Dec, 2015
By FxGrow Research & Analysis Team

USDJPY - high volatility after BoJ announcement

Perturbation after Bank of Japan event caused huge volatility at JPY currency pairs. BoJ surprised investors with its decision to allocate 300 billion yen for the ETFs investing primarily in companies from the Nikkei400 index. Just after that decision there were contradictory informations about the activities of the bank which resulted in higher volatility.

Yesterday USDJPY returned inside the consolidation in which it moved since November 7. Short after BoJ announcement price tested upper limit of consolidation and dynamic falls broke below support at 122.25 level. It is likely that declines will be continued. Targets for supply are at levels: 120.80, 118.80.

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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 – 21st Dec, 2015
By FxGrow Research & Analysis Team

AUDNZD - high volatility and trouble with identifying direction

From June to October 2015 AUDNZD moved in consolidation between levels 1.1390 - 1.0920. After breaking below the lower limit of the channel, declines stopped at 1.0500. At that support there were a dynamic rebound which led price back to the consolidation. Joy of demand was too early and after 14 days AUDNZD broke below lower limit of the channel again.

Currently falls reached support at 1.0580, after it breaks, supply will have to deal with 6-months low at 1.0500. Another supports are at levels: 1.0370, 1.0290, 1.0190, 1.0040. If rebound occurs, important level which should cause trend reversal is 1.1300. After it breaks, price will finish the head and shoulders pattern forming since 2 years. It is a trend reversal formation. The nearest resistances are at levels: 1.0760, 1.0880, 1.1070.

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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 – 21st Dec, 2015
By FxGrow Research & Analysis Team

EURPLN - rebound from important resistance, falls targeting 4.1000

Confusion after polish election in Poland led to depreciation of the Polish currency. EURPLN reached strong resistance at 4.3000 level. Rebound from that level occurred last week and was so dynamic that also the uptrend line was broken. In 5 days falls of 1400 pips and currently reached to the support area of 4.2400. That support is also strengthened by Fibonacci 50% of last upward movement. This should induce corrective rebound, after which falls could be continued. After break below that level the nearest support is located at: 4.2100, and the main target for supply is at 4.1000 level.

Since 4 years EURPLN moves in the regression channel. Upper and lower limits of that channel have been constantly tested: 4.3000 and 4.1000. Right now there is nothing which could indicate that this consolidation in coming to an end.

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.

 

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FxGrow Daily Technical Analysis – 22nd Dec, 2015
By FxGrow Research & Analysis Team

EURUSD - consolidation will be continued in 2016

Every important macro data (which have influence on EURUSD) in this year was published. For the first time in 9 years FED raised interest rates, but this event had less meaning to EURUSD than predictable ECB. Markets received less than expected, however in policy of ECB there wasn't any changes.

Since December 4 EURUSD moves in consolidation between resistance 1.1050 and support 1.0800. It is likely that for next days until the end of this year price will be inside that consolidation. What is interesting, despite divergent policies of both central banks which should bring further declines of EURUSD, technically it has a chance of the continuation of upward movement. The falls that occured between December's top and bottom reached fibo 50% and rebounded. Nearest resistances: 1.0950, 1.0980, 1.1030, 1.1050. Nearest supports: 1.0905, 1.0870, 1.0830, 1.0800.

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.

 

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FxGrow Daily Technical Analysis – 23rd Dec, 2015
By FxGrow Research & Analysis Team

AUDCAD - highest since October 2014

Since 8 weeks there is an uptrend rally at AUDCAD. Without bigger correction price gains more than a 800 pips. Today upward movement is continued and this year's top was broken above. AUDCAD reached a 15 months high. Correction may begin at every moment, however it is likely that current movement will lead price to supports at 1.0130 or 1.0200. If one of that levels will cause rebound, nearest support is at 0.9970 level.

Wider view, time-frame W1
So rapid movements aren't new for AUDCAD. However current uptrend is very mature and area to which the price approached should cause a reaction of supply.

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.

 

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FxGrow Daily Technical Analysis – 23rd Dec, 2015
By FxGrow Research & Analysis Team

GBPUSD - 8 months low

In previous analysis from December 16 I pointed 2 supports, which could cause correction. They are at levels: 1.4870, 1.4740. First of them stopped declines for 3 days and was broken below, currently price is moving toward second one. Last 7 trading sessions finished with daily red candles, the current downward impulse is very mature. Traders are looking for rebound which should occur anytime.

GBPUSD moves in a downtrend. Upward movement from April-June took a form of simple ABC correction with a Fibonacci extension C = 61,8% A. If supply will break below that support price will test this year's low area 1.4600. It is likely that 1.4740 level will cause a rebound which could reach one of the resistances: 1.4870, 1.50000, 1.5120.

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.

 

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FxGrow Daily Technical Analysis – 23rd Dec, 2015
By FxGrow Research & Analysis Team

GBPCAD - double top pattern in progress

Since August 2013 there is an uptrend at GBPCAD. Resistance which price already reached caused multiple rebounds between years 1994 and 2007. For that reason it is likely that attempt of fast break above that level will be very hard. For the first time in this year 2.0930 made rebound at August 2015 and 2 weeks ago second attempt failed.
Double top pattern can be seen on the chart and it may induce bigger correction. Currently nearest support at 2.0630 level stopped declines. If supply will be able to break below that level next target for falls are at 2.0320, 2.0000 and strongest support at 1.9850 level. Alternatively, if this year's high will break above new upward impulse will got a chance to reach to support 2.1400.

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.