Daily Market Analysis by FxGrow - page 21
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FxGrow Daily Technical Analysis – 04th Sept, 2015
By FxGrow Research & Analysis Team
NZDUSD - support is broken, target of falls 0.5900
NZDUSD for nearly two weeks is moving in a downward channel. Today there was an attempt to leave top of the channel but ended on a false breaking. On the chart appeared a long upper shadow and a red candle. It may end by the test of the lower limit of the channel at 0.6230 where there is also a minimum of 24 August. First bears must break the next support on level 0.6310.
Time-frame W1
NZDUSD for a year is moving in a strong downtrend and it looks like that falls will be continued. Seven weeks has lasted consolidation at support level 0.6500. So long impotence of bulls to perform bounce has to end broken of support. So it happened and support has been broken. Last week's minimum may cause slight rebound, but the next strong support is at 0.5900. That should be a target to bears which will allow for a longer rebound.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 07th Sept, 2015
By FxGrow Research & Analysis Team
EURAUD - breakout from the consolidation that lasted for three years
EURAUD on hourly interval approached to the resistance level at 1.6150. After his breakthrough nearest target will be 1.6585 which is a maximum of 24 August. The trend is upward (confirmed with the red line on the graph H1 and breakout from the consolidation on W1 chart). Any descent of pointed resistance should not be too deep because the bears will have to overcome several suport levels. Key support is at 1.5600.
Time-frame W1
Two weeks ago resistance that stopped move up for more than 2 years was broken. Long candle PIN BAR looks like fakey, but last week's candle confirmed the move up. August 24 the price has tested level which has not been since 2009 and return of the bulls to that level is a matter of time. After breakout the level 1.6585 next target will be at 1.7400.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 08th Sept, 2015
By FxGrow Research & Analysis Team
AUDJPY it's time for a rebound
In July and August AUDJPY moved in consolidation between the levels of 89.15 - 92.65. Break below pointed minimum of 24 August triggered a sharp move down. On the same day AUDJPY started to rebound, which achieved 50% of last downward move. August 24th bottom at the level of 82.00 was tested again last Friday. Rebound can be weak and successful pressure of the bears on level 82.00 will move down to the next support of 79.50.
Alternatively, if the bears will not aggressively push this rebound may come to the last resistance level at 87.30 and only there return to the declines.
Time-frame H1
For two weeks AUDJPY is moving in a downward channel. The lower limit of the channel was tested on Friday and rebounded. Today AUDJPY broke above upper limit of the channel. If this break was fakey last minimums will be again under pressure of sellers.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 08th Sept, 2015
By FxGrow Research & Analysis Team
EURUSD prepare for long movement
EURUSD after a false breakout above the triangle on August 24 returned to its range. Currently, the volatility is very small which normally ends with a dynamic movement. Policy of central banks suggests that the move could be down. From the one hand we have the FED meeting and possible rate hike. On the other hand, the ECB, which is in the middle of the QE program trying to weaken the euro. Break below the last support should lead price to a lower limit of the triangle (that is 1.0780).
Time-frame M30
Since the week beginning EURUSD moves in a upward channel. Today price tested lower band of the channel, chich caused the rebound. Break below lower band of this channel will be the first signal of upcoming falls.
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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 Daily Technical Analysis – 09th Sept, 2015
By FxGrow Research & Analysis Team
GBPCAD waiting for test of fibo 50%
GBPCAD moves in an upward trend since 2013. Last two weeks were correction declines. Declines are very flat and even failed to reach fibo 50% of the last upward movement. This forces the behavior of skepticism about the further fast move up. Especially that GBPCAD reached levels which for many years make an important support or resistance. There are no signs of reversal the upward trend, but a correction or side movement at the moment are very likely. Fibo level of 50% 1.9550 may be tested in the near future. Today we can observe the dynamic movement due to the decision of the Bank of Canada on interest rates.
Time-frame H4
The nearest resistance WHERE price is already moving is at 2.0590. Support is at 2.0100. It is possibile that the price will test resistance and rebound to the support.
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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 – 09th Sept, 2015
By FxGrow Research & Analysis Team
EURCHF false-break from upward channel
Yesterday EURCHF has reached its highest level since 16 January. Bulls failed to stay over the resistance at 1.0960. There has been a rebound and return inside the upward channel. Price moves in a channel for a month and it is possible that now will move to the lower limit of that channel.
Right now, very important levels are 1.0960 and 1.0720. Their break will indicate the direction for some time. Currently, return to upward movement is more likely.
Time-frame M30
M30 time-frame looks more optimistic. After reaching new high there has been downward correction that stopped on the support near fibo 61,8%. EURCHF already may be after the correction and price will return to upward trend.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 10th Sept, 2015
By FxGrow Research & Analysis Team
GBPJPY - correction that lasted three months may be near the end
GBPJPY is moving in an upward trend since 2012. Last three months was a correction descent and the inability to reach a new high. Level 195.80 stopped move up and it is a historical resistance. Recent upward movement from April to June 2015 have been corrected for less than 78.6%. Rebound from support of 180.40 caused the move up which stopped at the first resistance 185.20. Break above that resistance will cause move to 195.00, where bulls will try to end current correction. Alternatively, if the GBPJPY break below support at the 180.40 price will fall to 175.00.
Time-frame H1
For a week GBPJPY moves in an upward channel. Currently, the lower limit of the channel is located at 184.50 and top of the channel 187.30. Breaking down the channel will signal that the price could soon retest the support at 180.40.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 10th Sept, 2015
By FxGrow Research & Analysis Team
AUDUSD came close to an important support
Wide view, time-frame W1
Since 2011 AUDUSD moves in a downward trend. At the daily time-frame we can determine channel, in which the price moves. At this moment nothing indicates the possibility of trend reversal, but it is already very close to important support at 0.6780. Rebound from this support can cause upward movement of about 800 pips. Alternatively, if bears proves to be stronger next resistance will be at 0.6010.
Time-frame H4
The downward channel is also on a smaller interval. Today AUDUSD broke above downward channel. Correction of last downward movement should reach a minimum to fibo 38.2% (level 0.7100). If bulls prove to be strong enough, then reaction event to 0.7230 will be possible. There is the nearest resistance and the fibo 61.8%.
For more in depth Research & Analysis please visit FxGrow.
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 Daily Technical Analysis – 11th Sept, 2015
By FxGrow Research & Analysis Team
EURCAD time for a decision - up or down after reaching the September's top.
Wider view D1
EURCAD since April 2015 moves in upward channel. At the end of August we saw an unsuccessful attempt to broke above the Upper limit of the channel, which resulted in return to its lower band. Bulls started their purchases and there has been a rebound. After breakout strong resistance at 1.5560 has been tested. Price in the long term moves in a downward trend. 1998, 2008, 2014 highs, were followed by lower tops and lower lows.
Time-frame H1
On 28 August EURCAD moved in a side trend between support 1.4600 and resistance 1.5000. Since the beginning of September another resistance at 1.4920-1.4940 was formed, which today was broke from below. After breakout, the price has moved up about 50 pips where was stopped by even stronger resistance 1.5000. If this next resistance will be broken, the next targets will be in sequence 1.5200, 1.5430 and a peak of August 24 1.5560. However, if the bulls not be able to sustain upward movement and the price will return below 1.4940, the test of the March bottom on the level 1.4600 would be likely.
For more in depth Research & Analysis please visit FxGrow.
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.