Daily Technical Analysis by FxGrow - page 16
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FxGrow Daily Technical Analysis – 01st Dec, 2015
By FxGrow Research & Analysis Team
AUDCAD - break above strong resistance, nearest target 0.9750
Today AUDCAD break above strong resistance at 0.9660 and with strong upward candle moving toward next resistance. So high was for the last time in August 2015. During few next sessions it could be a withdrawal and descent should be stopped at new support 0.9660. If another resistance will be break above next base level for bulls can be found at: 0.9870 but it will be hard what I show below.
Wider view, time-frame W1
Since march 2014 AUDCAD moves in downward trend what confirms lower highs and lower lows. However since September 2015 there is a rebound, which is moving to resistance coincides with fibo 50% and downtrend line. Pointed level which should stopped upward movement is 0.9750. Its easy break above will not be easy and should be preceded by consolidation, otherwise the price can quickly return to a downtrend.
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 – 01st Dec, 2015
By FxGrow Research & Analysis Team
EURUSD - moves up after macro data
Surprising data from the US economy cause dynamic upward movement at EURUSD. The ISM index was lower than forecasts. Instead of the expected 50,4 index dropped to 46,6 which means entry into the recession zone. Currently EURUSD moves under low volatility and since 1,5 months there wasn't bigger rebound. Also price rebounded today from 1.0570 level which is the last support before this year's low.
This all may indicate that it's time for an upward correction. Targets for the bulls are located at: 1.0640, 1.0690, 1.0760. Stronger upward movement is currently unlikely until Thursday, when ECB meeting takes place. The market expects further easing of monetary policy, and this should lead to further declines in EURUSD.
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 – 02nd Dec, 2015
By FxGrow Research & Analysis Team
EURNZD - return to downward trend
Yesterday EURNZD broke below important support. This means six months of upward movement has been wrecked. It is worth noticing, that in long term price moves in downward trend. However last dynamic upward movement (observed in August) ended with a very long upper shadow (visible on a monthly time-frame). Currently there could be a rebound to support at 1.6040. That rebound should begin from next support at 1.5820 or from a current level. After price behavior at 1.6040 we should be able to forsee EURNZD further directions. More likely and in line with main trend is return to declines. Nearest supports: 1.5820, 1.5660, 1.5400, 1.5000. Nearest resistances: 1.6040, 1.6210, 1.6350, 6500.
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 – 02nd Dec, 2015
By FxGrow Research & Analysis Team
GBPUSD – attempts of support defense at 1.5000 level'
GBPUSD began this week at new 6-months low. And today after one-session break, price deepened the low. If support at 1.5000 breaks, nearest target will be at: 1.4740 and next at area 1.4600-1.4565 which is a 5-year low. Alternatively if rebound occurs, the next resistances will be at: 1.5120, 1.5240, 1.5370.
Perspective of the first rate hike in USA causes the dollar strengthening against most of the currencies. Further direction of GBPUSD movement is dependent on Friday's Non-farm Payrolls.
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 – 03rd Dec, 2015
By FxGrow Research & Analysis Team
USDJPY - another attempt of breaking above consolidation upper limit
Since a month USDJPY moves in a consolidation between 122.20 - 123.60, yesterday we saw an unsuccessful attempt of breaking above consolidation upper limit. That breakout may occur today, after ECB meeting or tomorrow after Non-farm Payrolls. If upper limit of consolidation breaks, next resistances will be seen near: 124.40, 125.10. Alternatively if price moves down next supports will be at levels: 121.40, 120.30, 118.80.
In a long term, since 2012 USDJPY moves in an uptrend. However since six months we did not see a new high. It is possible that the correction is coming to an end which is currently more likely than trend reversal. Breaking above year-to-date high (125.85) will signal that price returned to an uptrend.
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 – 03rd Dec, 2015
By FxGrow Research & Analysis Team
EURUSD - earth quake after ECB meeting
Today ECB meeting took place. Expectations about further easing monetary policy were huge and… have failed. Also in the previous analysis I have indicated the possibility of rebound, I wrote: "Currently EURUSD moves under low volatility and since 1,5 months there wasn't bigger rebound", "this all may indicate that it's time for an upward correction. Targets for the bulls are located at: 1.0640, 1.0690, 1.0760".
After the ECB decision and press conference by Mario Draghi, EURUSD made unpredictable upward move of 371 pips in 1,5 hours. Firstly support at 1.0520 was tested, and nextly price reached resistance at 1.0890 level which is strengthen by Fibonacci 38,2% of last downward movement. Tomorrow will be another important event - non-farm payrolls - and reaction to it could be also violent. If upward movement will be continued next resistances are located at: 1.1000, 1.1120. If price will return to declines next supports are at 1.0810, 1.0690.
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 – 04th Dec, 2015
By FxGrow Research & Analysis Team
EURAUD - dynamic upward movement, but this is only a correction
Since August 2015 EURAUD moves in downward trend. Yesterday price dynamically rebounded from support area 1.4350 and within a few hours made upward movement (620 pips). Awaken expectations after Thursday ECB meeting helped here a lot: central bank didn't extend QE program what was expected.
However market overreacted and that was caused not due to the lack of correction for a long time but due to the ECB. Current rebound has to be treated just like a correction before new wave of falls. Today price reached Fibonnaci 23,6% 1.4870 and resistance 1.4990. But rebound can reach higher, good level is Fibonacci 38,2% at 1.5200. Don't forget about today's very important data from US economy which may cause volatility on the market (similiar to the yesterday's 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.
FxGrow Daily Technical Analysis – 04th Dec, 2015
By FxGrow Research & Analysis Team
AUDUSD - highest since August 2015
Today one of the most volatile currency was AUDUSD. Despite today's non-farm payrolls market behaved calmly. Reading was in line with forecasts and reaction wasn't too big. AUDUSD within 15 minutes reached to December's low and rebounded. An hour later price broke above December's high. In a long term there is downtrend so you may want to look into resistances. Rebound from one of them should bring new wave of falls.
Next resistances are at levels: 0.7380, 0.7600, 0.7800, 0.7900. Only break above 0.8000 will give a chance to trend reversal. Current rebound has a chance to reach Fibonacci 38.2% level (0.7000) which is supported by resistance. If one of that resistances cause rebound nearest target of falls are at 0.7020, 0.6900.
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 Dec, 201
By FxGrow Research & Analysis Team
GBPNZD - fibo 38.2% level stopped declines
Since August 24 at GBPNZD there is a correction. Currently price reached to fibo 38.2% level of full upward impuls. However it seems that this is not the end of declines. The current downward movement took the form of simple correction ABC. If there will be often seen equal where lengths A=C declines may occur to the level of 2.0800.
Wider view, time-frame W1
Since April 2014 GBPNZD moves in uptrend. The most dynamic movement took place between April and August 2015. Then the attempt of break resistance at 2.4600 level has failed, and rebound continues to this day. The current decline in the long term should only be correction, after that price may return to uptrend. The trend shows fact that last low was established in April 2013 and in next months the price reached new highs and new lows.
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 Dec, 2015
By FxGrow Research & Analysis Team
EURGBP - it's time for a second test of resistance at 0.7250
Last analysis from November 27 gave earn 120 pips. I wrote about consolidation and possible target of upward movement at 0.7200. In fact that movement reached 50 pips higher and rebounded. In long term EURGBP moves in a downward trend and current rebound could be seen as an opportunity for short.
For the trend reversal the price should break above resistance at 0.7480 level. If the declines will be continue next supports are located at levels: 0.7155, 0.7125, 0.7060. If there will be another attack at the resistance on area 0.7250 which is more likely and it failed it will give an interesting investment opportunity.
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.