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Thread: Daily Technical Analysis by FxGrow

  1. #231
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    FxGrow Daily Technical Analysis – 22nd Dec, 2015
    By FxGrow Research & Analysis Team

    EURUSD - consolidation will be continued in 2016

    Every important macro data (which have influence on EURUSD) in this year was published. For the first time in 9 years FED raised interest rates, but this event had less meaning to EURUSD than predictable ECB. Markets received less than expected, however in policy of ECB there wasn't any changes.

    Since December 4 EURUSD moves in consolidation between resistance 1.1050 and support 1.0800. It is likely that for next days until the end of this year price will be inside that consolidation. What is interesting, despite divergent policies of both central banks which should bring further declines of EURUSD, technically it has a chance of the continuation of upward movement. The falls that occured between December's top and bottom reached fibo 50% and rebounded. Nearest resistances: 1.0950, 1.0980, 1.1030, 1.1050. Nearest supports: 1.0905, 1.0870, 1.0830, 1.0800.



    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. #232
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    FxGrow Daily Technical Analysis – 23rd Dec, 2015
    By FxGrow Research & Analysis Team

    AUDCAD - highest since October 2014

    Since 8 weeks there is an uptrend rally at AUDCAD. Without bigger correction price gains more than a 800 pips. Today upward movement is continued and this year's top was broken above. AUDCAD reached a 15 months high. Correction may begin at every moment, however it is likely that current movement will lead price to supports at 1.0130 or 1.0200. If one of that levels will cause rebound, nearest support is at 0.9970 level.




    Wider view, time-frame W1
    So rapid movements aren't new for AUDCAD. However current uptrend is very mature and area to which the price approached should cause a reaction of supply.



    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 – 23rd Dec, 2015
    By FxGrow Research & Analysis Team

    GBPUSD - 8 months low

    In previous analysis from December 16 I pointed 2 supports, which could cause correction. They are at levels: 1.4870, 1.4740. First of them stopped declines for 3 days and was broken below, currently price is moving toward second one. Last 7 trading sessions finished with daily red candles, the current downward impulse is very mature. Traders are looking for rebound which should occur anytime.

    GBPUSD moves in a downtrend. Upward movement from April-June took a form of simple ABC correction with a Fibonacci extension C = 61,8% A. If supply will break below that support price will test this year's low area 1.4600. It is likely that 1.4740 level will cause a rebound which could reach one of the resistances: 1.4870, 1.50000, 1.5120.



    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 – 23rd Dec, 2015
    By FxGrow Research & Analysis Team

    GBPCAD - double top pattern in progress

    Since August 2013 there is an uptrend at GBPCAD. Resistance which price already reached caused multiple rebounds between years 1994 and 2007. For that reason it is likely that attempt of fast break above that level will be very hard. For the first time in this year 2.0930 made rebound at August 2015 and 2 weeks ago second attempt failed.
    Double top pattern can be seen on the chart and it may induce bigger correction. Currently nearest support at 2.0630 level stopped declines. If supply will be able to break below that level next target for falls are at 2.0320, 2.0000 and strongest support at 1.9850 level. Alternatively, if this year's high will break above new upward impulse will got a chance to reach to support 2.1400.



    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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  5. #235
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    FxGrow Daily Technical Analysis – 28th Dec, 2015
    By FxGrow Research & Analysis Team

    EURUSD - movement in consolidation

    Since December 3 EURUSD moved in a range where its volatility stabilized. Price moves between 1.0800 - 1.1055. Christmas season caused even more reduction in price volatility. Since 5 sessions movement is equal to 100 pips and lasts between support 1.0870 and the resistance 1.0977.

    Today 1.0977 level was tested. If demand breaks above this resistance next targets will be at levels: 1.1027, 1.1055, 1,1120. The strongest one form that levels is December's high 1.1055. However if rebound occurs nearest supports will be at levels: 1.0905, 1.0870, 1.0835, 1.0800. It is likely that 1.0800 (December's 7 low) won't be easily broken but if it occurs next support will be located at 1.0730 level.



    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 – 28th Dec, 2015
    By FxGrow Research & Analysis Team

    USDJPY - support stopped declines. For how long?
    Strong falls which took since the beginning of December were corrected and price returned to December's downtrend. Upward movement (correction) which started December 14 was very dynamic, however it took form of ABC simple correction. In this case upper limit of length C was little higher than A=C. This fact and today's test of 2-months low confirms the downward scenario. If level 120.040 will be break below it is likely that declines will test 118.600 level. Alternatively if today's rebound will be continue nearest resistance is located at 123.500 level.




    Wider view, time-frame D1
    USDJPY in entire 2015 year moved in consolidation between levels: 116.00 - 125.70. While in the earlier period between October 2012 and December 2014 the price has gained more than 50%. Currently it is likely both: trend reversal or new uptrend impuls. Key levels for further direction are levels 116.00 and 125.70. Break one of that levels should start new impuls.



    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 – 28th Dec, 2015
    By FxGrow Research & Analysis Team

    NZDUSD - key resistance
    Today NZDUSD reached to a key resistance, which is located in area 0.6900. That level is strenghtened by downtrend line and Fibonacci 50% level. Since mid-November price moved in upward channel and succesfully break above that level should lead price to the next resistance at 0.7180 level. However if price will rebound (it is more likely) nearest support is at 0.6760 level.



    Wider view, time-frame W1
    For 1,5 years price moved in downtrend. Low was established August 24 and there are no new lows. Today demand has attempted to break above downtrend line and gain 6-months high. Supply will definitely try rebound at this level, but if fail there could be a fester upward movement or even a long term 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 – 29th Dec, 2015
    By FxGrow Research & Analysis Team

    GBPJPY - next break 175.80

    In longer term there in an uptrend at GBPJPY however current price behaviour shows that right now correction may be deeper. For 3 years GBPJPY moved in an upward trend and in this particular time it gained 50% of its value.

    For this year's holidays situation looks worst. Price didn't established new highs. Last weeks was very important for further direction of price movement. In last week price broke below support from August. Today supply continue its downward rally reached 8-months low. Nearest support is 177.60 level. However stronger support which should make rebound is at 175.80 level. Alternatively if rebound occur, resistances are located at levels: 180.60, 184.20, 187.40.



    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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    FxGrow Daily Technical Analysis – 30th Dec, 2015
    By FxGrow Research & Analysis Team

    GBPAUD - 6-months low

    GBPAUD declines since August 015. Previous upward movement is corrected (it took place between September 2014 and August 2015). Price broke below Fibonacci 38,2% and declines continued (six months low was reached).

    Nearest support is 2.0000 and it is target for declines. However it is more likely that rebound will take place at lower level. Stronger support that coincides with Fibonacci 50% is at 1.9800. This level should be a good spot for a rebound. If demand tries to finish this correction and return to uptrend, price will need to break above 2.0450 level.



    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 – 04th Jan, 2015
    By FxGrow Research & Analysis Team

    AUDJPY - attempt of break below the lower limit of the flag pattern

    Since August AUDJPY moved in a flag pattern. Flag is a pattern of trend continuation which means that price should break below lower limit of the flag according to a main downtrend. Today there was an attempt of such breakout and price is at two months low.

    Break below that level during today's session may not be successful because at 85.60 there is a support, where price may rebound. However when that support will be broken, price should go back to downtrend. Nearest supports: 85.60, 84.70, 83.60, 82.20. Nearest resistances: 86.80, 88.30, 90.30.



    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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