Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 29th March, 2016
By FxGrow Research & Analysis Team

Crude oil tests the price gap

On the daily chart of May contracts for crude oil, we can see that price once again tested the support area defined by weekend price gap sketched between March 4-7 (ranging over 1.5USD). Declines reached the above mentioned zone after a failed test of resistance level which is determined thanks to the October 2015 lows (42.58).

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 March, 2016
By FxGrow Research & Analysis Team

EURUSD - the test of March's high

After side trend in which EURUSD moved for a few days (just above 1.1160 level), finally new upward wave occurred. Yesterday first resistance at 1.1200 was broken and a direct cause of larger volatility was yesterday's public speech of Janet Yellen. Chair of the FED indicated anxiety of the low inflation and she said that Federal Reserve has tools to fight with this problem. This could mean a significant extension of the period of low interest rates in the US.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 March, 2016
By FxGrow Research & Analysis Team

GBPUSD - above resistance 1.4400

After last week’s selloff at GBPUSD which started after terrorist attacks in Brussels, declines reached support at 1.4070. Declines were finished last Thursday after local double bottom pattern and bullish candle (at time-frame H4) with long lower shadow. Demand took over control during end of last week but current week it was a capitulation of supply.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 – 31st March, 2016
By FxGrow Research & Analysis Team

NZDCAD - long PIN BAR candle at the resistance

Yesterday on NZDCAD interesting daily candle occurred. Demand was punished for too rapid attempt of rebound and on the chart PIN BAR candle occurred with a long upper shadow. Shadow of that candle tested resistance at 0.9050.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 – 04th April, 2016
By FxGrow Research & Analysis Team

USDCAD back to touch highs as it underpinned long-term support

The USDCAD decreased for nine consecutive weeks as the pair hits fresh 2016 lows near 1.2857. This long-term support level provides signals of a reversal trend as the USDCAD touched 1.2832 lows in October 2015. Thus prices are expected to comeback as the pair breaks 1.3075 reaching 1.3090 and 1.3125 respectively.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 – 04th April, 2016
By FxGrow Research & Analysis Team

EURUSD further upside direction

The EURUSD started pushing higher after Yellen’s comments last week. The EURUSD is attempting to have a bullish breakout after an increase in US unemployment rate producing a slack in US labor market especially as the price cuts 1.1400 as a strong resistance. Thus next resistances are located at 1.1440 and 1.1470.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 – 05th April, 2016
By FxGrow Research & Analysis Team

AUDUSD rallied as RBA kept lending rate steady

The AUDUSD traded higher as the Reserve Bank of Australia (RBA) weakens rate cut expectations and kept lending rate unchanged at 2%. Breaking 0.7640 increases to 0.7675 as a major resistance level and cutting this point will produce a bullish momentum targeting 0.7723 and 0.7745 respectively.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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 – 05th April, 2016
By FxGrow Research & Analysis Team

EURUSD overbought territory might lead to strong pullback

The EURUSD failed to continue gaining after reaching 1.1437 high this year. Hitting higher lows and failing to cut 1.1420 and the European Central Bank (ECB) dovish outlook for inflation and monetary policy give signs of a strong pullback and will open the door of a downside move. Cutting 1.1365 as a strong point will push the EURUSD lower toward 1.1345, 1.1325 and 1.1295 as next support levels.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th April, 2016
By FxGrow Research & Analysis Team

USDJPY rise as risk appetite firms in Asia

USDJPY fell to 14 month lows at 109.95 yesterday on BOJ negative interest rate policy. Japanese Yen gains support as Kuroda said that he will keep monitoring the currency and warned of further interest rate cut. Breaking 1.1015 as a minor support point will nourish the downside trend and will push the USDJPY lower toward 109.95, 109.70 and 109.50 respectively.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th April, 2016
By FxGrow Research & Analysis Team

GBPUSD is in a chaotic position on ‘BREXIT’ risk

GBPUSD is extending its weakness as ‘Brexit’ is creating volatility as it gets priced in. The BOE financial policy committee increased the countercyclical capital buffer rate for UK exposures from 0% to 0.5% and raises risks of the UK economy as more possibilities of the EU referendum ‘Brexit’ emerge.

To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.

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.