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Thread: Daily Technical Analysis by FxGrow

  1. #211
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    FxGrow Daily Technical Analysis – 08th Dec, 2015
    By FxGrow Research & Analysis Team

    AUDCAD - 500 pips of upward movement without correction

    Since November 11 AUDCAD moves in an uptrend rally. Price moved upward 500 pips without correction and 3 resistances were broken above. Soon there could be a correction and minimum declines should reach 38.2% fibo. It is possible that rebound will be higher than last week's high. Two important resistances are at levels: 0.9880, 0.9980. However if there will be a rebound nearest supports are at levels: 0.9730, 0.9590, 0.9420.



    Wider view, time-frame W1
    AUDCAD looks very interesting at weekly time-frame. The behavior of price at current level will be important for a further direction of movement. In last week weekly candle broke above downtrend line extending from 2013. The end of current week will be really important. Any retracement may look like fake breakout and new high can give a big chances of trend change.





    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 – 08th Dec, 2015
    By FxGrow Research & Analysis Team

    CADJPY - on its way to support at 88.90

    Today CADJPY broke below support at 90.70 level. Currently declines stopped at weak support at 90.10 and we should see a return movement attempts. If price will move back above 90.70 today's movement will be a false breakout and next targets for upward movement will be the levels 91.20, 91.80, 92.40. More likely scenario is rebound - if price could reach 90.70.

    Since August 25 CADJPY moves in consolidation between 93.00, 88.90. Last time at November 19 price tested upper limit of consolidation so there is a huge probability that right now lower limit of consolidation 88.90 will be tested. Breaking one of the pointed levels will give us a confirmation of consolidation end.




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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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  3. #213
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    FxGrow Daily Technical Analysis – 09th Dec, 2015
    By FxGrow Research & Analysis Team

    AUDJPY - correction in upward trend

    In last week 90.40 level was tested and caused rebound. Yesterday price broke below support at 89.60 level (visible at daily time-frame) and currently price will test next support 88.00. On the way there is an uptrend line, however it is more likely that price will test 88.00 and rebound after it. If supply will be strong enough another strong support is at 86.20 level.



    Wider view, time-frame D1
    Since the beginning of September 2015 AUDJPY moves in an uptrend. Last week price with strong candle broke above 89.60 level. However current week began and continues as a correction. It is likely that 88.00 could be a good level for a rebound. AUDJPY is characterized by high volatility and until there are higher highs and higher lows at daily time-frame declines should be seen as a correction in 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.
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  4. #214
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    FxGrow Daily Technical Analysis – 09th Dec, 2015
    By FxGrow Research & Analysis Team

    USDJPY - monthly support has been broken

    Since last month USDJPY moves in a narrow consolidation between 122.30 - 123.60. Today demand gave up after 4 defenses of support at 122.30 level. Currently return movement to the broken support is very likely. The behavior of price in this area will determine the future direction of the movement. If price will go back to consolidation, movement to 123.60 level should be easy. However if supply will confirm today's breakout, nearest target of falls is 121.45 level. Further targets for the supply were pointed below on the higher time-frame.



    Wider view, time-frame W1
    Since 2012 USDJPY moves in an uptrend. Trend is strong, what is confirmed by the fact that for more than a year uptrend line hasn't been tested (dotted line on the chart below). If declines will still continue, next strong supports are at levels: area 119.00 (trend line reinforced by support), 116.00 (strong support).



    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 – 10th Dec, 2015
    By FxGrow Research & Analysis Team

    NZDUSD - upward movement after RBNZ decision
    Yesterday Reserve Bank of New Zealand announced its interest rate decision. As forecasted, main rate was reduced. This caused volatility on the NZDUSD. First, price false broke below support at 0.6610 and second dynamic upward candle reached to 0.6780 level. Further attempt to break above indicated resistance and upward movement to 0.6850 is very likely.



    Wider view, time-frame D1
    Since 5 months NZDUSD moves in consolidation between 0.6260 - 0.6850. Last time lower limit of the consolidation was tested in September 2015. Currently price approaches range upper limit. However price still stays below downtrend line and that suggests return to declines in the future. Right now break above 0.6900 will change sentiment and gives a hope to 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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    FxGrow Daily Technical Analysis – 10th Dec, 2015
    By FxGrow Research & Analysis Team

    GBPCHF - high volatility under the influence of central banks
    Today at GBPCHF traders that were range-trading should earn a lot. Those ones who waited for a range breakout might dent their deposits. In the morning SNB took a decision on interest rates. Interest rates remained at the same level. GBPCHF failed to break above resistance and rebounded. After that it reached a daily low. Demand was supported by Bank of England and here interest rates were also unchanged what brought another upward impuls.

    Time-frame M30:


    If break above 1.5000 level will succeed target for upward movement is at 1.5070. Only above this level it will prove whether this rebound is likely to be a new uptrend. But if new wave of fall activates, the nearest strong support is at 1.4890 level.

    Time-frame M30:


    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 Dec, 2015
    By FxGrow Research & Analysis Team

    EURUSD - markets awaits FED decision

    After last week's fast upward movement, in current week demand does not give up. On Wednesday we saw a test of 50% fibo level of the previous downward movement. After that there was a shallow correction. Currently, upward movement continues and it is likely that high from last days will be exceeded.

    Next Wednesday investors will know the FED decision on interest rates. If there won't be a first hike it will be a big surprise for the markets. From the fundamental side there is a divergence between the central banks policy which should result in a further weakening of the euro against the dollar. However the decision is not yet published and technically EURUSD has a chance to test the 61,8% fibo level, which is located in the area 1.1120. That level is also strengthened by resistance. Nearest resistances: 1.1030, 1.1120. Supports: 1.0910, 1.0860, 1.0810, 1.0685, 1.0630.



    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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  8. #218
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    FxGrow Daily Technical Analysis – 12th Dec, 2015
    By FxGrow Research & Analysis Team

    GBPUSD - on three weeks high

    Today US inflation data was published. That was one of the last important macro reading before next week FED meeting. As federal reserve expected, inflation increased more rapidly than forecasted. The time of FOMC meeting is approaching and it may cause big volatility because nobody knows what will be the markets reaction on first rate hike.
    At GBPUSD (H1) today demand broke above resistance at 1.5190 level and approached next resistance at 1.5240. What's interesting, this month's upward movement took the form of simple ABCD correction and price already reached D point, where AB=CD.



    Wider view, time-frame D1

    GBPUSD continues rebound that started on December 2nd. Nearest resistance is 1.5240 level (blue line at chart D1). Stronger resistance (monthly high) is at 1.5330 level (red dotted line at chart H1).




    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 Dec, 2015
    By FxGrow Research & Analysis Team

    EURAUD - reached to resistance, for the last week point for the bulls

    At the beginning of December there was a test of support at 1.4400 level. That level caused dynamical rebound. After impressing last week's candle (at weekly time-frame), price reached to the resistance that stopped upward movement. Currently this upward movement should be treated as a correction.

    However it is likely that price will reach to 1.5500 level where is resistance and fibo 50% of last downward movement or even to 1.5720 level where is fibo 61,8%. On each of that important levels: 1.5270, 1.5500, 1.5720 bears will be looking oportunity to end that correction. When declines will back we will be able to determine in what condition are the bulls. Then it turns out if it is a chance to return to upward movement, which last at EURAUD since April 2015.



    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 Dec, 2015
    By FxGrow Research & Analysis Team

    USDCAD - new highs, but resistance is on the horizon

    Previous analysis USDCAD from November 26 gave more than a 400 pips profit. I wrote: "In the coming days demand should carry out another attack at the resistance 1.3400" and "if this resistance will be broken, next target for demand is at the level 1.3860". Actually continuation of upward movement is very dynamic and today price tested 1.3780 level.

    Since 2004 price wasn't at such high levels. Currently next resistances should be looking for at monthly time-frame. It should be noted that levels from monthly time-frame aren't precise. Nearest resistances are at area: 1.3860, 1.4070. If there will be a correction nearest support is at 1.3430 level.

    Time-frame H4



    Time-frame monthly



    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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