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Thread: Daily Technical Analysis by FxGrow

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    FxGrow Daily Technical Analysis – 13th Oct, 2016
    By FxGrow Research & Analysis Team

    JAPANESE YEN STRENGTHEN AFTER DISAPPOINTING CHINESE DATA



    USD/JPY dropped 90 pips on early morning trading sessions in response to negative Chinese trading balance.The worse-than expected Chinese trade figures spooked markets, and weighed heavily on the risk-associated space, causing a drop in equities and US bond yields thus surging the Japanese Yen higher. The Nikkei 225 index erased gains and now drops -0.30% to trade around 16,790 levels. Exports in September dropped 10% in dollar terms and imports fell 1.9 percent, with a trade surplus of $41.99 billion. Add to that a 0.2% increase in Japanese banking loads bolstered the safe haven Yen against U.S Dollar.

    USD/JPY opened at 104.63 (10 weeks high) and due to the above financial reports catalysts, the pair scored 103.55 lows (-113 pip). USD/JPY made a tiny re-bounce currently trading 103.75 intraday, still managed to stay below daily Pivot 103.98.

    Trend: Neutral bullish

    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 Oct, 2016
    By FxGrow Research & Analysis Team

    EUR/USD SINKS TO 8 WEEKS LOW, AWAITING U.S DATA, LATER ON YELLEN



    EUR/USD dropped yesterday to 1.0985 low reaching it's lowest price since July. The U.S dollar still keeps a tight fist facing major currencies, the US dollar index jumped +0.28% to fresh session highs of 97.82, heading back towards fresh seven-month highs of 98.12 reached a day before as the latest FOMC meeting released encouraged a Fed rate hike in December. The pair made a re-bounce to 1.1058 (today's high) but then digested yesterday's gains in Asian trading sessions -0.28% ahead of Yellen speech. Currently trading at 1.1024, still a bit below the daily pivot. The EURO is in desperate need for negative reports in the U.S financial market to make a correction to it's usual position and today, we may witness this scenario due to crucial U.S news and Yellen speech.

    The greenback picked-up significant strength facing its major rivals, mainly driven by a sharp rally in the US treasury yields, which suggest that a Fed rate hike in Dec is almost confirmed.

    Trend: bearish

    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 Oct, 2016
    By FxGrow Research & Analysis Team

    GOLD STANDS IMMUNE ABOVE 1250, EYES ON TODAY'S U.S DATA



    Gold prices held steady on Friday after it touched 1262.34 high as investors remained cautious ahead of U.S retail sales and consumer sentiment data in addition to Federal Reserve Chair Janet Yellen speech due later in the day. Strong U.S. dollar weighed on the precious metal especially after increased probability of a Fed rate hike in December knowing that the safe haven metal is highly sensitive to interest rate decisions. Gold collapsed on Friday's early trading sessions clocking a low 1254.64 as the greenback remains solid, currently trading at 1255.84 intraday. Today, all eyes are focused on U.S financial data, later on Yellen's speech, where we'll either witness gold going back to Sep and Aug highs, or price will tumble way below depending on the outcome.

    Trend: Neural bearish

    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 – 17th Oct, 2016
    By FxGrow Research & Analysis Team

    AUD/USD dropped ahead of RBA meeting



    AUD/USD opened with 0.7621 high, then retreated to 0.7581 ( today's low). AUD/USD made a correction, then started a bullish trend at 9 AM GMT, re-bounced to 0.7616, currently trading at 0.7610 after the RBA released its October financial stability review. However, the AUDUSD remained under pressure as the local housing supply is causing risk and ahead of RBA's latest monetary policy meeting minutes during early Asian session on Tuesday expecting to stay on the wait and see approach.

    Trend:l bullish

    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.
    Last edited by FxGrow Support; 10-17-2016 at 14:30.
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    FxGrow Daily Technical Analysis – 18th Oct, 2016
    By FxGrow Research & Analysis Team

    The British POUND HELD ABOVE 1.22 HANDLE, AWAITING CPI Data



    GBP/USD rose 97 pips in early morning trading sessions. The sterling received a push yesterday after disappointing manufacturing index -6.8 and industrial production 0.1% not meeting expectations 0.3%. The U.S Dollar index also tumbled -0.15% in in Asian sessions 97.76%. As a result, U.S Dollar lost it's pace, and British Pound gained some profits as Prime Minister Theresa May is prepared to listen to top ministers opinion for leaving EU, GBP/USD clocked a high 1.2273, currently trading at 1.2230, above daily Pp, but leaving the EU single market will be harsh on sterling thus remaining under pressure. GBP/USD awaits today British Core CPI which will set the on-going trend knowing that good CPI data will encourage the BOE to take more actions.

    Trend : bearish

    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 – 18th Oct, 2016
    By FxGrow Research & Analysis Team

    NZDUSD RALLIES ON STRONGER THAN EXPECTED CPI DATA



    NZD/USD extended contentious bullish H4 candle charts, rallying from 0.7128 (low), touching 0.7198 high as the CPI rose 0.2% in the third quarter.The Kiwi is expected to continue surging as good data lowered the RBNZ rate cut decision. Currently NZD/USD trading 0.7196, closing to the first resistance 0.7200 handle. Add to that, the New Zealand government bond yields also rose on positive data which drove the NZD/USD to peek.

    Trend : bullish

    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 – 19th Oct, 2016
    By FxGrow Research & Analysis Team

    WTI OIL TURNED HAWKISH, AWAITING US CRUDE OIL INVENTORIES REPORT



    The option of inviting the US into Opec's cartel is now on the table as OPEC secretary Barkindo whispered to reporters on Tuesday in London. US could be invited to OPEC next meeting in Vienna but only after US presidential election on Nov 8. OPEC members are expected to limit production range between 32.5 or 33 million However, US already clarified loud and clear that they are subject to any oil quotas.

    The latest reports from Saudi shows that its exports fell in Aug according to Reuters inventory data. In a separate news piece, Saudi’s state owned company, Aramco is said to boost crude supplies to China in September. Meanwhile, both crude benchmarks trade with size-able gains amid reports of falling exports from Iran as well as from Saudi.

    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 – 21st Oct, 2016
    By FxGrow Research & Analysis Team

    USD/CAD RALLIED ON STRONGER DOLLAR INDEX, AWAITING CORE CPI



    The USD/CAD digested Wednesday's gains first as response to negative trade and commerce data held by Mr. Poloz, second by positive U.S data yesterday on Philly index. The greenback surged yesterday to 98.50, causing the USD/CAD to rally from 1.3006 ( Wednesday low), to 1.3257 (251 pip) . Although the crude oil is still above 50 handle, it was not enough for the US Dollar to loosen it's grip on it's neighbor Canadian Dollar, currently trading at 1.3257 intraday, closing to last week highs. Today, Canadian Dollar awaits the Core retail sales which will determine if the U.S Dollar continues it's domination or give some chance for Canadian Dollar to breathe.

    Trend: bullish

    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 – 21st Oct, 2016
    By FxGrow Research & Analysis Team

    SILVER TUMBLES AS US DOLLAR INDEX STRENGTHEN



    XAGUSD started a bearish trend as the greenback received positive economic data-Philly index (9.7). Silver dropped from yesterday's high 17.73 to 17.44 (-29 pips), and closed at 17.52. US Dollar index rose yesterday and peeked to 98.5%, making it's opponent to look weak. Although silver bounced and made a correction, currently trading 17.52 intraday, still under it's daily pivot at 17.71, XAGUSD is till under pressure by US Dollar.

    Trend: Neutral bearish

    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 – 24th Oct, 2016
    By FxGrow Research & Analysis Team

    THE EURO REMAINS UNDER PRESSURE AWAITING GERMAN IFO



    EUR/USD extends losses since last week hitting the bottom at 1.0866 -14%. The pair keeps the offered tone intact as the US dollar peeks to new eight-month highs 98.85 in response to hawkish Fed that boosted the odds for a Fed rate hike this year. Add to that, Draghi gave hints for extending the OE program, as a result, the EUR/USD tumbled from Friday's highs 1.0929, hitting today's low at 1.0859. The EUR/USD is still under pressure and expected to keep it's bearish trend, awaiting tomorrow's German IFO and Draghi's speech which will give heads up on how the EUR/USD will settle.

    Trend: Bearish

    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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