Daily Technical Analysis by FxGrow - page 11
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FxGrow Daily Technical Analysis – 16th Sept, 2015
By FxGrow Research & Analysis Team
USDTRY - level 3.0000 may cause a correction?
An interesting situation on USDTRY (US dollar to Turkish lira). Price is in impressive upward trend since 2010. At the beginning of September level of 3.00000 was broke above and many investors became interested. Because since two years, there wasn't a bigger correction. For now, at such a strong uptrend short positions would be risky, but USDTRY is worth of attention.
The nearest resistance is at 3.07000. Close support is 3.00000, and after it has been broken below the next support level is on 2.90000. The second support also reinforces the 38,2% Fibonacci retracement of last upward move. However only break below the next support which means fall below the 2.80000 will be a warning of USDTRY deeper correction. The last pointed level is also the 61,8% Fibonacci retracement of last upward move.
Time-frame H4
Time-frame W1
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 – 18th Sept, 2015
By FxGrow Research & Analysis Team
GBPCAD - the bulls are not giving up
Since beginning of August GBPCAD move up 500 pips from the bottom and it is moving in the upward channel. On Thursday upward movement was stopped on the resistance 2.0530. However bulls could break it soon. Upward movement may take place in the channel and bring the price to the August high on 2.0900. Alternatively, if the move up are not continued the supports for the bulls will be at the levels 2.0260 and 2.0030.
Wider view, interval monthly
Since 2013 GBPCAD moves in upward trend. The next resistance were broke by bulls with success. Last month, the price reached to the next significant resistance at 2.0900 and on the monthly chart appeared downward candle with a long upper shadow. Bulls are not surrending, and after almost three weeks of September recovered half of August candle. Too fast attempt to break through this resistance may end with deeper correction. So the best thing that bulls may do is to wait on the consolidation below the resistance.
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 – 18th Sept, 2015
By FxGrow Research & Analysis Team
AUDJPY in consolidation, nearest resistance could be a chance for a short
After August decreases – which culminated on August 24th – price finally rebounded. Rebound reached 50% Fibonacci retracement of last downward move, then AUDJPY returned to falls. That bottom at 82.10 with an accuracy of 2 pips confirmed its strength as a support. Price approached the resistance of the last 3 weeks. If bears takes the initiative near 87.25 the further test of August's minimum will be possible. However if an attack on the resistance succeeds the next resistances will be on 89.40, 92.40.
Wider view, time-frame W1
In the long term since mid-2009 AUDJPY moves between levels 72 - 104. Last year after getting closer to the upper limit of this range falls occurred. Since then the price moves in a downward channel, the lower limit has been tested in early September. If the bears will take the control now a bottom of 2015 can be deepened. Alternatively, if the bulls shows strength upward move can reach 92.00 in the long term.
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 – 18th Sept, 2015
By FxGrow Research & Analysis Team
NZDUSD - Bulls on the offensive, the target of upward movement is 0.6700
Thursday's Fed meeting turned out to be very negative for the dollar bulls. At NZDUSD shortly after the FED's decision followed attempt of break above resistance at the level 0.6400. The attempt proved to be false and the price returned creating a false breakout on the chart. The dollar weakened today to the main currencies EURUSD has exceeded 1.1400, GBPUSD went over 1.5600. Also on NZDUSD bulls decided to try attacking again on yesterday's resistance. At this moment, the resistance has been broken above and we should see upward move to 0.6500 level, and this area should appear of correction. When it appears it could bring price to re-test of resistance at 0.6400, a level which has now become the new support. If level 0.65 will be also break above, it will open the road to a level 0.6700, which should stop upward movement for a longer time.
Wider perspective
Since the middle of 2014 NZDUSD is in a downward trend therefore the current rally still should be regarded as a 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 – 21st Sept, 2015
By FxGrow Research & Analysis Team
EURAUD - breakout from the consolidation will indicate the direction of movement
Since last week EURAUD can't go away from the level of 1.5770. The downward movement stops at support 1.5660, and move up stops at resistance 1.5940. Dynamic upward candle, which took place on Thursday after the Fed decision also does not help with consolidation breakout. If break below that consolidation will be successfully next support on 1.5600 has a chance to cause a rebound. On the other hand, the break above resistance 1.5940 will take price first to 1.6160 and next to 1.6600.
Wider view, interval W1
At weekly interval we can indicate another significant levels. After breaking down the 1.5600 level, the downward movement may reduce price to 1.3800. But break above the level 1.6600 will bring the price to 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 – 21st Sept, 2015
By FxGrow Research & Analysis Team
USDJPY waiting for the triangle breakout
Since one month USDJPY moves in the triangle formation. Its range of movement is clearly slowing down. Therefore, the breakout of the triangle in one direction will bring dynamic movement. Currently, the lower arm of the triangle is 119.20, and the upper arm 120.90. If the lower arm of the triangle breaks below, downward movement will lead price to 118.30. If that support also will not stop the falls the next target of downward move is the August minimum at 116.10.
However, if bulls break above the upper arm of the triangle the next levels of resistance will be located at 122.00 and 125.20. Successfull break above that levels will confirm that the correction on USDJPY has now been completed and the price goes back to the uptrend.
Wider view, interval W1
Since 2011 USDJPY moves in upward trend. At this time bears failed to correct upward movement even on the smallest Fibonacci level of 23.6%. If falls finally comes, level 114.00 which is 23.6% fibo will be the first target.
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 – 22nd Sept, 2015
By FxGrow Research & Analysis Team
EURUSD rebound from the resistance, target of falls 1.1090
Last Thursday EURUSD has reached to 1.1460 and that level cause rebound. The first support, which could stop the descent was the level of 1.1214 but bears broke below it. Another support which price is aiming is around 1.1145 - 1.1135. If the price reaches to that area and it will be breaking the next target of falls will be 1.1090. Since Thursday EURUSD also moves in a steep downward channel which reflects well on the strength of bears.
Wider view, interval D1
In 2015 EURUSD moves in the consolidation between the levels 1.1460 - 1.0460. Indicated top was a false break only for a while in August. And indicated bottom has been tested only once in March and in the following months the price stopped already at higher levels. The last important support is 1.0815.
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 – 22nd Sept, 2015
By FxGrow Research & Analysis Team
USDCAD – false break of consolidation lower limit
An interesting situation in the USDCAD. For a month price moved in the consolidation between resistance 1.3320 and support 1.3130. Last Friday there was an attempt to break below the support that lead the price to the level 1.3010. On that support bulls returned to the game. On the daily chart a long lower shadow appeared and USDCAD returned to the consolidation range. Currently, the price is moving to the upper limit of consolidation on the level 1.3320.
It is worth to note, that the USDCAD moves in a long-term uptrend, and often false breakout from the consolidation in one direction ends with a proper breakout in the opposite direction. If such situation will take place it will follow the main trend. A minimum target of upward movement is a level 1.3800.
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 – 23rd Sept, 2015
By FxGrow Research & Analysis Team
EURGBP breakout of the triangle with a range of 0.7060 decline
For a month EURGBP moves in a shape of downward triangle. This formation promises falls and it is in line with long-term downward trend. On Monday there was a break below of the triangle after a longer test of the level 0.7240. Support came to help bulls, which is located at the 0.7210 level. There was a rebound and return to the interior of the triangle.
If the rebound will be successful it may test level 0.7340, which is the top of the triangle. However, if in the near future the bulls will press harder break below the triangle will become a fact. Range of the falls will be equal to the height of formation. The target level after breaking the triangle will be 0.7060. Before that, supply will have to deal with more supports: 0.7210, 0.7160, 0.7100, 07040. Alternatively, if the triangle has been break above a nearest resistance is 0.7390.
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 – 23rd Sept, 2015
By FxGrow Research & Analysis Team
AUDNZD - a trend reversal or just a corrective rebound?
Since 4 months AUDNZD moves in a consolidation between 1.0900 and 1.1430. On August 24 there was a dynamic upward movement. Within a 30 minutes candle price moves up and fall about 900 pips. Since then the price has reduced the range of its movement. Right now it moves in the consolidation between 1.0900 and 1.1340. AUDNZD now rebounded from the resistance at the indicated level and is heading 1.0900.
Wider view, interval W1
Since 5 years AUDNZD moves in a downward trend but the minimum, which took place at the beginning of April this year, begins to indicate a possibility of trend reversal. Direction of breakout from flag will be very important. Flag is a pattern of trend continuation and it should be break above. Break above will give a chance even to trend reversal. However, if the flag breaks below, then this whole movement will take the form of a rebound and AUD/NZD will come back to the main trend (the downward one).
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.