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Thread: Daily Technical Analysis by FxGrow

  1. #141
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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.
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  2. #142
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    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.
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  3. #143
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    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.
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  4. #144
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    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.
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    FxGrow Daily Technical Analysis – 11th Sept, 2015
    By FxGrow Research & Analysis Team

    GBPAUD - waiting for exit from consolidation

    Time-frame H1

    Since the beginning of September GBPAUD moves in a side trend between resistance at 2.2100 and support 2.1670. Break above this resistance will lead price to 2.2400 which is the last top established on 24 August. Alternatively break below this support will bring price around 2.1500 - 2.1450.




    Wider view, time-frame D1

    Since 2013 GBPAUD moves in an upward trend. Nearest strong resistance is around 2.2600 - 2.2800. But to get to that area bulls must break above the last high. Since April 2015 the price moves in the upward channel. Currently range of this channel is 2.1600 - 2.2500. Breaking one of these levels will set the future direction for a while.




    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.
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  6. #146
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    FxGrow Daily Technical Analysis – 14th Sept, 2015
    By FxGrow Research & Analysis Team

    USDJPY breakout of the triangle will point the direction of move

    Since 3 weeks USDJPY moves in a triangle, whose lower and upper band have been tested for two times. Correction which lasts for a month was abolished by 61.8% (so amounted to rebound after drop). This suggests that there is still more likely to continue correction than the end of it and return to move up. In the triangle we are slowly running out of space. If the market will react on that formation effective break out will point further movement.



    Wider view D1

    Since 2012 USDJPY is moving in an upward trend. At that time the price rose from 76 in January 2012 to 120.50 last Friday. At the level of the maximum of August, price was recently in 2002. For now this resistance stopped further upward movement. On the other hand strong suport is on the level 116. Last time it was tested in 24 August. This support for almost a year does not allow price to fall.




    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.
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    FxGrow Daily Technical Analysis – 14th Sept, 2015
    By FxGrow Research & Analysis Team

    AUDCAD current rebound reached to fibo 50%

    According to the analysis for the beginning of September the price has tested the support 0.9160 (from 2013). Support was target for the bears and for the bulls. The bears were closing short positions and the bulls were opening a long positions here. As a result, the weekly chart shows the strong bull candle, which stopped at the resistance. On the weekly chart, we can draw quite precisely the downward channel, in which the price moves for 1.5 years. At this moment bulls are trying to break above resistance at 0.9400. If it proves successful the level of 0.9740 will be the target of upward move.



    At the time-frame H4 we can see smaller channel. An attempt of broke below has failed and today the bulls are trying to break above the channel's top. If the bulls succeeds the next resistance will be at 0.9480. However, the current level is a 50% Fibonacci retracement of last downward move and it may cause bears reaction.




    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.
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    FxGrow Daily Technical Analysis – 15th Sept, 2015
    By FxGrow Research & Analysis Team

    EURUSD - consolidation under the upper arm of the triangle

    Time-frame H1

    Since September 4 EURUSD moves in an upward channel. Last friday was break above the resistance at level 1.1305, but the bulls joy did not last long because already the next day the price back below resistance. In upcoming days it should be test the lower limit of the channel on 1.1270 and rebound. The target of the rebound will be the level 1.1370 which is the local maximum. High volatility on EURUSD is to be expected on Thursday, after the Fed's decision on interest rates.



    Wider view - interval D1

    Since the beginning of the year EURUSD moves in the triangle. In late of August there was an attend to break above the triangle, which ended with a fakey and price returned to the interior of the triangle. The last dynamic upward movement was ended on 24 August at the level of 1.1710. We saw a corrective decrease from that level, which stopped at the 88,6% Fibonacci retracement of last upward move. If the price will keep in area of the upper limit of the triangle it will increase the chance of successful break of resistance and move upward.





    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.
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    FxGrow Daily Technical Analysis – 15th Sept, 2015
    By FxGrow Research & Analysis Team

    GBPJPY - test of the rising trend line

    After a period of much volatility in the last few days the movement of price is in the consolidation. The current support defending against falls is in the level of 184.20, and resistance that will stop further rise in the price level is 186.80. If the bears will break below pointed suport, the target of falls will be 180.40. Alternatively, break above of consolidation can bring the price to 195.00.




    Wider view D1

    At the interval D1 GBPJPY is still moving in an upward trend and the trend line was tested last week. However if the bulls will show weakness, and led to the next level test September minimum break of the trend line could become a reality.





    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.
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    FxGrow Daily Technical Analysis – 16th Sept, 2015
    By FxGrow Research & Analysis Team

    EURGBP - weakened bulls and fundamentals confirm the possibility of falls

    Since three weeks price moves in consolidation. Near resistance, which stops the upward movement is on 0.7400. Resistance was tested two times, so the third time also should be failed. The nearest support level is 0.7240, and its break below will cause the price movement to 0.7160. Last rebound from the support was not as strong as the previous one. This suggests that the bulls are weakening.



    Wider view W1

    Since 2013 EURGBP fall from 0.8765 to 0.7000 in August 2015. This year the falls slowed, from January price moves in the channel. Fundamentally, the euro should continue to weaken because of the divergent policies of central banks. The Bank of England is on the way to interest rate hike. While the European Central Bank is in the middle of monetary policy easing program. For this reason, we are now seeing rather sorth pause of falls than the beginning of a trend reversal.




    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.
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