Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 13th Jan, 2015
By FxGrow Research & Analysis Team

CADJPY - closer to stronger support zone

Analysis from December 17 was very profitable. However declines without any correction reached much lower than I expected (black symbols at H4 chart). I wrote: "Current 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", "The nearest support can be found at: 87.40, and another in the area 85.00".
Downtrend is so strong that support at 85.00 didn't stop declines even for one day. Currently lower limit of downtrend channel was tested and weak rebound may occur, however it shouldn't reach higher than 84.70. Strong support is near 81.00 area and there should be a rebound. Price many times reacted at this level between 2010 – 2012. However if bulls strengthen first break above 85.00 level will be a first signal for a trend reversal.

Time-frame H4

Time-frame W1

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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 – 14th Jan, 2015
By FxGrow Research & Analysis Team

NZDCAD - it's not the end of correction

After upward movement lasting 2 months NZDCAD reached resistance, which since 2014 has been causing rebounds. That's also happened now. For the third time area 0.9550 stopped bulls charge. Falls that occurred doesn't reach even to Fibonacci 38,2% which could mean that correction isn't finish.

Bulls could try to return to uptrend as evidenced by broken intraday downtrend line (orange line at the chart). However it shouldn't be succeeded (December's high shouldn't be threatened). If bulls fail, price will come back to correction. When bears return and support at 0.9240 will be broken, it is likely that next target will be found near 0.9000 - 0.9050. At this area supports coincide with Fibonacci levels. Nearest resistances: 0.9380, 0.9470, 0.9550. Nearest supports: 0.9240, 0.9110, area 0.9000-0.9050.

Time-frame H4

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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 – 14th Jan, 2015
By FxGrow Research & Analysis Team

EURJPY - failed attempt of break above triangle upper limit

In January there is a side trend at EURJPY and price formed triangle pattern. Today bulls tried to broke above upper limit of the triangle but they failed. Successful breakout could be very dynamic. If it is up, upward movement will be limited to 133.00. However if it is down, it will give a strong long-term trend reversal signal.

Wider view, time-frame D1
Since December 2014 EURJPY moves in a downtrend, in last week price reached 8 months low. Currently price is near support, but it is very hard to see any good signals looking at the chart. Break below support at 126.90 could lead price to 120.50 and in a long term will look like trend reversal (because right now falls still could be seen as a correction in uptrend). Alternatively if rebound occurs the main challenge for the bulls will be break above resistance at 133.00, where right now is a downtrend line.

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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 – 15th Jan, 2015
By FxGrow Research & Analysis Team

AUDCAD - one week of correction and return to uptrend

Bulls strikes back on AUDCAD. New year started with falls after almost vertical upward movement which lasted in November and December last year. After two months of upward movement without any correction supply expected deeper correction. I assumed that should make rebound was 0.9740 where support coincides with Fibonacci 50%.

For more in depth Analysis & Research please visit FxGrowhttp://www.fxgrow.com/analysis-educ...one-week-of-correction-and-return-to-uptrend .

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 Jan, 2015
By FxGrow Research & Analysis Team

AUD/USD deepens 6-year lows

Australian to US dollar fell during Friday’s trading below wide consolidation 0.7383-0.6900 drawn from the middle of the last year. As a result, long-term, more than 6-ytear lows on the Aussie has been deepened to 0.6862. If the price closes below that level, then traders will have an opportunity to look for supply signals.

For more in depth Analysis & Research please visit FxGrowhttp://www.fxgrow.com/analysis-educ...one-week-of-correction-and-return-to-uptrend .

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

CHFPLN - breakout the upper limit of consolidation after S&P downgrade

On Friday rating agency Standard & Poor’s cut the Poland's rating and warned of a further cut. S&P in note pointed at new government's actions without reference to the Poland's economy. Despite that other agencies does not opt to identical moves polish zloty weakened.

Currency pair CHFPLN is very popular because a thousands of Poles have debt in CHF.

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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 – 19th Jan, 2015
By FxGrow Research & Analysis Team

USDJPY an opportunity for rebound - double bottom pattern at support

After Friday's selloff current week started with a rebound at USDJPY. Area of 116.50 was defended by demand because further declines (and especially support breakout at 116.00) will worsen technical situation on the chart. Changes in long-term trend to a downtrend will become a fact. Currently upward movement should reach 118.30 - 118.80.

For more in depth Analysis & Research please visit FxGrowhttp://www.fxgrow.com/analysis-educ...-for-rebound-double-bottom-pattern-at-support.

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 – 19th Jan, 2015
By FxGrow Research & Analysis Team

EURGBP - fast correction and return to uptrend

Since almost a year demand was unable to break above 0.7480. From the other side, supply likewise wasn't able to broke below support at 0.6990. As a result on January 8 there was a successful breakout of consolidation upper limit and new dynamic upward impulse began.

For more in depth Analysis & Research please visit FxGrowhttp://www.fxgrow.com/analysis-educ...-eurgbp-fast-correction-and-return-to-uptrend.

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 – 20th Jan, 2015
By FxGrow Research & Analysis Team

EURUSD - break above bearish regression channel
Since December 4th EURUSD moves in downward channel. First attempt of breaking above it, occurred on January 15th but finished with false breakout and returned into the channel. Currently there is a second attempt and price reached 1.0975 level. If withdrawal doesn't occur, then upward move will reach at least the nearest resistance at 1.1050.

To read Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...eurusd-break-above-bearish-regression-channel.

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 – 20th Jan, 2015
By FxGrow Research & Analysis Team

GBPJPY - is it a good time for a rebound?

GBPJPY falls second month in a row without any bigger correction. Firstly, supply broke below support at 175.50 and then 168.00. It took place without any attempt of a rebound. Today demand reactin occurred in area 163.00 - 163.70 and it was at the time when macroeconomic data were published.

For more in depth Analysis & Research please visit FxGrowhttp://www.fxgrow.com/analysis-educ...ls/515-gbpjpy-is-it-a-good-time-for-a-rebound.

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.