Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 19th May, 2017
By FxGrow Research & Analysis Team

Gold Remains Bullish Despite Yesterday's Losses

Gold was nursed yesterday with a dropping pressure at 1246 low, but still remains above 200-EMA (D1) by 80-pips, which sends a message that XAU/USD remains bullish despite severe losses yesterday -$19 after positive unemployment claims beating expectations.

U.S Dollar performance remained weak yesterday but managed to peek at 97.96 with +$0.6, but expectation were build for more point basis considering that U.S Index anchored yesterday at 79.26 2017-low which indicates U.S current political drama still tackling greenback rallies.

Technically, gold is currently trading 1245 after clocking 1252 high showing recovery symptoms. Still above 200-EMA and and ....

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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 – 19th May, 2017
By FxGrow Research & Analysis Team

USD/CAD Shows Stingy Price Action Over Crisp U.S Dollar

Unlike major currencies seen taking advantage of weak greenback, the loonie traded with shy 45-pips price action today, currently at 1.3570 after retreating from 1.3610 high today. Although Crude Oil is currently bullish, but remaining below $50 bp slowed USD/CAD bearish forces as Canada as major oil producers.

In addition to that, the Trump administration on Thursday set the clock ticking toward a mid-August start of renegotiation's of the North American Free Trade Agreement with Canada and Mexico to try to win better terms for U.S. workers and manufacturers which gave some solid ground for greenback as uncertainties ....


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/tLyUb8

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 May, 2017
By FxGrow Research & Analysis Team

EURO Toughens On Weak U.S Dollar Ahead of Local Data

EUR/USD sustained the bullish momentum for 30 consecutive days, trading with +100-pips above its daily 7-EMA, and clocked a 1.1263 high yesterday, a peek the pair has not witnessed since Oct-2016. On the other hand, weakness in U.S Dollar as the Index plunged today to 96.68 low indicates the sharp tone of EURO facing its west rival greenback and EUR/USD still has potential to revenge with higher gains ahead of EU local data today.

Previous EU Data including PMI, CPI, and Retails sales were increasing session over session, but the main focus today will be on German Data, along with the increasing inflation, and ...


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/PFykVr

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 May, 2017
By FxGrow Research & Analysis Team

Sterling Dips Slightly Over UK's Attack Ahead of Inflation Report

Yesterday. GBP/USD bullish momentum with a high 1.3034 supported by soft U.S Dollar tone was tanked by terrorist attack on the UK, tripping and erasing the daily +78-pips market action. The pair failed to withhold the 1300 level and anchored at 1.2965 low. Currently the pair is trading 1.2977, only +12-pips above yesterday's lows which indicates that yesterday's ugly events still has negative tails to Sterling current bearish pattern. On the other hand, U.S Dollar is showing some vital signs as the Index traders 96.90 after dipping to 96.74 low, but unless the Index penetrates 97.35 (Yesterday's high), greenback remains under pressure, giving room for Sterling take a breath and slow the bearish trend.

Away from politics, BOE Governor and several MPC members will testify testify today regarding inflation and the ...


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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 – 23rd May, 2017
By FxGrow Research & Analysis Team

Gold: Closing Above 1263 will Fuel Additional Bullish Waves

The hardest obstacle facing gold bullish with extension is today's high resistance located at 1263.80 and 1265. A resistance door which gold has knocked several times in the past two months with failure to penetrate and technically retreating, but fundamentals were always there for the help including safe haven and negative U.S Data interventions. But technical intakes with gold closing above daily 100 and 200 SMA at 1238 indicates that gold current trend is bullish supported by strong rising trend line, the yellow metal should overcome the 1265 with no hard time. Closing Above 1265, traders should prepare for themselves seeing gold on a jet ride with further inclines seeing 1280+ as a destination.

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/FQJEvx

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 – 24th May, 2017
By FxGrow Research & Analysis Team

Crude Oil: Potential For 2017's Highs As Eyes Are Set On the Bigger Prize

Crude oil surged +1.44 bp since Monday and clocked 51.86 high today boosted by potential positive outcomes as OPEC and Non-OPEC nations meet tomorrow yet again in Vienna on 25th of May.

OPEC has promised to cut supplies by 1.8 million barrels per day (bpd) until the end of June and is expected on Thursday to decide to prolong that cut to March 2018.

The meeting tomorrow could hold additional outcomes, other than extending the original deal, such as more compliance between OPEC and Non-OPEC counties and increasing cut-outputs with efforts to curb global supply demand and glut. If OPEC managed to nail such attributes, this could be added as additional ....

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/Xe8Rnu

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 – 25th May, 2017
By FxGrow Research & Analysis Team

Fx Majors Technical Levels Ahead of FOMC Meeting Results

U.S Fed will meet this after noon 6:00 PM GMT and market should pay close attention to words and details. Based on that, you can know how market will head and trade. The easiest way if to see how U.S Dollar will perform and Index levels.

If U.S Index is declining, it's a signal that rival currencies are taking advantage and surging facing weaker U.S Dollar. June hike will be center stage. Any suggestion or adding odds to already 78% chances will fuel U.S Index. A stress by FOMC that they still see three possible hikes will also peek the greenback. In March 2017, U.S Fed increased 0.25% to initial 0.75%, resulted in 1% as U.S Central Banks Interest. So market ...

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/Bcy6fd

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 – 25th May, 2017
By FxGrow Research & Analysis Team

GBP/USD to Re-Test 1.300 level Ahead of Local GDP

GBP/USD has entered the fourth consolidative trading session and been confined within 116-pips price action. The pair dipped yesterday to 1.2927 low as U.S Index showed some strength with 97.36 high, but then faded away as FOMC meeting maintained a neutral stance, not giving clear messages on how things are heading despite the highly odds for June hike which was already expired as a fact, hence the pair managed to shift bearish candles top bullish and clocked a 1.2999.

Today will the second chapter for the pair as UK releases Second Estimate GDP, shortly followed by U.S data Sterling hanging above 1.2900 will tested. Options are opened with 1.300+ or 1.2900- are on ...

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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 – 25th May, 2017
By FxGrow Research & Analysis Team

Gold Still Fears The 1260+ level With Retreats, Eyes On U.S Data

Gold still shows weakness to withhold the 1260 level with consistent failure as market and traders are psychologically programmed to abandon the 1260+ position. Technically, through out 2017, gold retreated more than 10 times every time the yellow metal reaches 1265. Previous sessions where gold surpassed 1265 was due to fundamental factors such as negative U.S data or safe haven buying.

Today, gold clocked 1259.68 then retreated to to 1255.68 low as reminder of recent behavior, still above 50-EMA (D1) at 1245 which still supports the bullish momentum. There is a chance today that gold can overcome the 1265 phobia fundamentally as ...

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/RxFFdf

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 – 26th May, 2017
By FxGrow Research & Analysis Team

U.S Index Makes A reverse Turn Giving Rivals to Surge

After peeking to 97.31 today, the greenback went back to comatose mood as the Index plunged 96.94 low, and hourly chart behavior suggests further dips. Yesterday U.S Data recorded a neutral stance, not convincing market expectations which left the Index within weekly range, down below 97 level. FOMC member Williams crossed wires today stressing that increasing rate is a must to coop with the market running hot which should have pushed the Index higher, but Trump still succeed to tank U.S Dollar with recent and yesterday's attack on NATO and candidate Lieberman withdraw-ed his name being FBI deputy yesterday.

As a result, rivals currencies and gold taking advantage of weaker U.S Dollar. Greenback has one last chance this week to redeem itself as U.S

Releases major data below:

1- USD- Core Durable Goods Orders m/m + Prelim GDP q/q + Durable Goods Orders m/m.

Technical Overview for GBP/USD , EUR/USD , USD/JPY , Gold

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/mphYke

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.