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  1. FxGrow Daily Technical Analysis – 21st Nov, 2017 By FxGrow Research & Analysis Team GBP/USD Intraday: the bias remains bullish. Pivot: 1.3220 Our preference: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension. Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets. Comment: the RSI advocates for further upside. Supports and resistances: 1.3320 1.3300 1.3280 1.3250 Last 1.3220 1.3200 1.3180 USD/JPY Intraday: the bias remains bullish. Pivot: 112.20 Our preference: long positions above 112.20 with targets at 112.75 & 113.00 in extension. Alternative scenario: below 112.20 look for further downside with 111.90 & 111.60 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 113.35 *** 113.00 *** 112.75 *** 112.45 Last 112.20 ** 111.90 *** 111.60 ** EUR/USD Intraday: consolidation. Pivot: 1.1770 Our preference: short positions below 1.1770 with targets at 1.1720 & 1.1685 in extension. Alternative scenario: above 1.1770 look for further upside with 1.1810 & 1.1850 as targets. Comment: the RSI lacks upward momentum. Supports and resistances: 1.1850 1.1810 1.1770 1.1745 Last 1.1720 1.1685 1.1650
  2. FxGrow Daily Technical Analysis – 17th Nov 2017 By FxGrow Research & Analysis Team GBP/USD Intraday: further advance. Pivot: 1.3175 Our preference: long positions above 1.3175 with targets at 1.3275 & 1.3300 in extension. Alternative scenario: below 1.3175 look for further downside with 1.3135 & 1.3110 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.3320 1.3300 1.3275 1.3230 Last 1.3175 1.3135 1.3110 USD/JPY Intraday: under pressure. Pivot: 113.00 Our preference: short positions below 113.00 with targets at 112.15 & 111.90 in extension. Alternative scenario: above 113.00 look for further upside with 113.30 & 113.55 as targets. Comment: technically the RSI is below its neutrality area at 50. Supports and resistances: 113.55 *** 113.30 *** 113.00 *** 112.60 Last 112.15 ** 111.90 *** 111.60 ** EUR/USD Intraday: the upside prevails. Pivot: 1.1760 Our preference: long positions above 1.1760 with targets at 1.1830 & 1.1860 in extension. Alternative scenario: below 1.1760 look for further downside with 1.1725 & 1.1700 as targets. Comment: the RSI lacks downward momentum. Supports and resistances: 1.1880 1.1860 1.1830 1.1796 Last 1.1760 1.1725 1.1700
  3. AUD/USD Intraday: under pressure. Pivot: 0.7610 Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension. Alternative scenario: above 0.7610 look for further upside with 0.7630 & 0.7650 as targets. Comment: the upward potential is likely to be limited by the resistance at 0.7610. Supports and resistances: 0.7650 *** 0.7630 * 0.7610 *** 0.7590 Last 0.7570 *** 0.7550 * 0.7525 ** Gold spot Intraday: key resistance at 1280.00. Pivot: 1280.00 Our preference: short positions below 1280.00 with targets at 1274.00 & 1271.00 in extension. Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1286.50 as targets. Comment: the RSI lacks upward momentum. Supports and resistances: 1286.50 1283.00 1280.00 1276.70 Last 1274.00 1271.00 1266.00 Crude Oil‏ (WTI)‏ (Z7) Intraday: turning up. Pivot: 55.15 Our preference: long positions above 55.15 with targets at 55.80 & 56.05 in extension. Alternative scenario: below 55.15 look for further downside with 54.80 & 54.40 as targets. Comment: the RSI is bullish and calls for further advance. Supports and resistances: 56.30 56.05 55.80 55.42 Last 55.15 54.80 54.40 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.
  4. FxGrow Daily Technical Analysis – 16th Nov 2017 By FxGrow Research & Analysis Team GBP/USD Intraday: under pressure. Pivot: 1.3185 Our preference: short positions below 1.3185 with targets at 1.3130 & 1.3110 in extension. Alternative scenario: above 1.3185 look for further upside with 1.3215 & 1.3250 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.3250 1.3215 1.3185 1.3152 Last 1.3130 1.3110 1.3080 USD/JPY Intraday: continuation of the rebound. Pivot: 112.70 Our preference: long positions above 112.70 with targets at 113.50 & 113.75 in extension. Alternative scenario: below 112.70 look for further downside with 112.45 & 112.15 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 113.90 *** 113.75 *** 113.50 *** 113.07 Last 112.70 ** 112.45 ** 112.15 *** EUR/USD Intraday: consolidation. Pivot: 1.1805 Our preference: short positions below 1.1805 with targets at 1.1760 & 1.1725 in extension. Alternative scenario: above 1.1805 look for further upside with 1.1830 & 1.1860 as targets. Comment: a break below 1.1760 would trigger a drop towards 1.1725. Supports and resistances: 1.1860 1.1830 1.1805 1.1775 Last 1.1760 1.1725 1.1700
  5. FxGrow Daily Technical Analysis – 15th Nov 2017 By FxGrow Research & Analysis Team EURO Bulls Takes Over Dollar Bears, Eyes On CPI EUR/USD bulls were highly occupied yesterday with 143-pips price action and 1.1805 high. Today, the pair extended the upward destination and clocked 1.1852 high, currently trading 1.1836 intraday. Apparently, comments yesterday by Fed's Bullard indicating that current interest rate level likely to remain appropriate over near-term weighted negatively on the DXY, losing $1.10 value since yesterday which broke daily rising trend line and closed below it. Market is currently in action, but suspense will increase shortly as U.S releases multi inflation figures with CPI and Core CPI in focus. Today's data is vital and it will re-shape the odds of potential Dec. Fed hike. EUR/USD Technical Overview: Closing price: 1.1797 Target price: 1.1934 Resistance levels: 1.1880, 1.1934* Support levels: 1.1781 , 1.1731 Trend: Up Comment Yesterday's surge higher triggers a short term bottoming upturn and projects a drive to 1.1934*. Trade is poised for continuation rallies today. Any corrections that hang in the upper half of yesterday's upturn should bull flag. Only a close under 1.1731* stops the upswing anf warns for corrective congestion along 1.1700+/-. 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.
  6. AUD/USD Intraday: consolidation. Pivot: 0.7610 Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension. Alternative scenario: above 0.7610 look for further upside with 0.7625 & 0.7650 as targets. Comment: the RSI is mixed to bearish. Supports and resistances: 0.7650 *** 0.7625 * 0.7610 *** 0.7585 Last 0.7570 *** 0.7550 * 0.7525 ** Crude Oil‏ (WTI)‏ (Z7) Intraday: the downside prevails. Pivot: 55.80 Our preference: short positions below 55.80 with targets at 54.60 & 54.40 in extension. Alternative scenario: above 55.80 look for further upside with 56.25 & 56.60 as targets. Comment: the RSI is capped by a bearish trend line. Supports and resistances: 56.60 56.25 55.80 55.15 Last 54.60 54.40 54.10 Gold spot Intraday: further advance. Pivot: 1276.50 Our preference: long positions above 1276.50 with targets at 1286.00 & 1288.50 in extension. Alternative scenario: below 1276.50 look for further downside with 1271.00 & 1266.00 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances: 1291.00 1288.50 1286.00 1282.62 Last 1276.50 1271.00 1266.00 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.
  7. FxGrow Daily Technical Analysis – 15th Nov 2017 By FxGrow Research & Analysis Team GBP/USD Intraday: continuation of the rebound. Pivot: 1.3125 Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3230 in extension. Alternative scenario: below 1.3125 look for further downside with 1.3085 & 1.3060 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.3265 ** 1.3230 *** 1.3190 *** 1.3165 Last 1.3125 *** 1.3085 *** 1.3060 *** USD/JPY Intraday: under pressure. Pivot: 113.50 Our preference: short positions below 113.50 with targets at 112.50 & 112.30 in extension. Alternative scenario: above 113.50 look for further upside with 113.70 & 113.90 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 113.90 *** 113.70 *** 113.50 *** 113.00 Last 112.50 ** 112.30 ** 112.10 *** EUR/USD Intraday: further advance. Pivot: 1.1775 Our preference: long positions above 1.1775 with targets at 1.1865 & 1.1880 in extension. Alternative scenario: below 1.1775 look for further downside with 1.1730 & 1.1700 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.1900 1.1880 1.1865 1.1824 Last 1.1775 1.1730 1.1700
  8. AUD/USD Intraday: under pressure. Pivot: 0.7150 Our preference: short @ 0.7625 with targets @ 0.7605 & 0.7575 in extension. Alternative scenario: above 0.7640 look for further upside with 0.7665 & 0.7685 as targets. Comment: the RSI is mixed to bearish. Supports and resistances: 0.7685 * 0.7665 * 0.7640 ** 0.7622 Last 0.7605 *** 0.7575 * 0.7545 ** Crude Oil‏ (WTI)‏ (Z7) Intraday: key resistance at 56.85. Pivot: 56.85 Our preference: short positions below 56.85 with targets at 56.30 & 56.10 in extension. Alternative scenario: above 56.85 look for further upside with 57.15 & 57.50 as targets. Comment: the RSI is capped by a declining trend line. Supports and resistances: 57.50 57.15 56.85 56.55 Last 56.30 56.10 55.65 Gold spot Intraday: under pressure. Pivot: 1280.00 Our preference: short positions below 1280.00 with targets at 1273.00 & 1270.00 in extension. Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1285.50 as targets. Comment: the RSI is below its neutrality area at 50% Supports and resistances: 1285.50 1283.00 1280.00 1276.42 Last 1273.00 1270.00 1266.00 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.
  9. FxGrow Daily Technical Analysis – 14th Nov 2017 By FxGrow Research & Analysis Team EUR/USD Intraday: further advance. Pivot: 1.1660 Our preference: long positions above 1.1660 with targets at 1.1720 & 1.1735 in extension. Alternative scenario: below 1.1660 look for further downside with 1.1635 & 1.1620 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances: 1.1750 *** 1.1735 *** 1.1720 *** 1.1690 Last 1.1660 *** 1.1635 * 1.1620 ** GBP/USD Intraday: key resistance at 1.3135. Pivot: 1.3135 Our preference: short positions below 1.3135 with targets at 1.3085 & 1.3060 in extension. Alternative scenario: above 1.3135 look for further upside with 1.3175 & 1.3205 as targets. Comment: the upward potential is likely to be limited by the resistance at 1.3135. Supports and resistances: 1.3205 ** 1.3175 *** 1.3135 ** 1.3105 Last 1.3085 *** 1.3060 ** 1.3040 *** USD/JPY Intraday: further upside. Pivot: 113.40 Our preference: long positions above 113.40 with targets at 114.05 & 114.30 in extension. Alternative scenario: below 113.40 look for further downside with 113.20 & 113.05 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 114.45 ** 114.30 *** 114.05 *** 113.75 Last 113.40 ** 113.20 * 113.05 **
  10. FxGrow Daily Technical Analysis – 14th Nov 2017 By FxGrow Research & Analysis Team GBP/USD Remains In Consolidation Downtrend With Positive CPI Expectations GBP/USD still trades inside Nov. 2nd candle shadow with failure to break lower or higher, thus entering eighth trading consolidation session, and remains bearish with heavy selloff wave. Yesterday, the cable rallied to 1.3179 high but failed to press forward, retreated to 1.3061 low, and closed at 1.3113. Today, GBP/USD is trading narrow with 38-pips price action after plunging to 1.3090 low. As for Fundamentals, UK is set to release Inflation (CPI) data with high anticipation for a record above 3.1% with 0.2 point basis, but still it is not clear how market will react for such data release especially after the pair was already priced in for last BOE's rate hike. Shortly afterwards Carney will cross wires a long with major governors key speakers. Analysts at TDS are looking for UK headline CPI to accelerate from 3.0% to a firmly outside the target band level of 3.3% y/y in October, leaving us above consensus (3.1%) and the BoE’s forecast from the Nov IR (3.2%). Technical Overview GBP/USD Current price: 1.3102 Target price: 1.2950 Resistance levels: 1.3140, 1.3170, 1.3200-20 Support levels: 1.1380, 1.3035, 1.3001 Trend: Sideways Down Comment The market is short term negative and Monday's gap lower highlights a return to down trending action, projecting an initial bear leg to 1.2950-. A close below 1.3080 should release selloffs. Stay prepared for additional near term sideways corrective congestion, but rejected rallies against Monday's gap should bear flag. A close over 1.3210* is needed to signal a trend turn back to the upside. 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.
  11. AUD/USD Intraday: consolidation. Pivot: 0.7670 Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7620 in extension. Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7710 as targets. Comment: as long as the resistance at 0.7670 is not surpassed, the risk of the break below 0.7635 remains high. Supports and resistances: 0.7710 * 0.7695 * 0.7670 ** 0.7650 Last 0.7635 ** 0.7620 * 0.7600 * Crude Oil‏ (WTI)‏ (Z7) ST: further advance. Pivot: 52.80 Our preference: long positions above 52.80 with targets at 59.45 & 62.00 in extension. Alternative scenario: below 52.80 look for further downside with 50.00 & 47.50 as targets. Comment: the RSI advocates for further advance. Supports and resistances: 64.50 *** 62.00 ** 59.45 ** 56.79 Last 52.80 *** 50.00 ** 47.50 *** Gold spot Intraday: the downside prevails. Pivot: 1282.00 Our preference: short positions below 1282.00 with targets at 1273.00 & 1270.00 in extension. Alternative scenario: above 1282.00 look for further upside with 1285.50 & 1289.00 as targets. Comment: technically the RSI is below its neutrality area at 50. Supports and resistances: 1289.00 1285.50 1282.00 1276.10 Last 1273.00 1270.00 1266.00 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.
  12. FxGrow Daily Technical Analysis – 13th Nov 2017 By FxGrow Research & Analysis Team Forex Daily Technical 13 Nov 2017 GBP/USD Intraday: the downside prevails. Pivot: 1.3175 Our preference: short positions below 1.3175 with targets at 1.3080 & 1.3040 in extension. Alternative scenario: above 1.3175 look for further upside with 1.3230 & 1.3270 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.3270 ** 1.3230 ** 1.3175 ** 1.3130 Last 1.3080 *** 1.3040 ** 1.3025 ** USD/JPY Intraday: turning down. Pivot: 113.75 Our preference: short positions below 113.75 with targets at 113.20 & 113.05 in extension. Alternative scenario: above 113.75 look for further upside with 114.05 & 114.30 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 114.30 * 114.05 * 113.75 *** 113.45 Last 113.20 ** 113.05 * 112.90 ** EUR/USD Intraday: the upside prevails. Pivot: 1.1635 Our preference: long positions above 1.1635 with targets at 1.1680 & 1.1700 in extension. Alternative scenario: below 1.1635 look for further downside with 1.1610 & 1.1580 as targets. Comment: the RSI is mixed to bullish. Supports and resistances: 1.1720 ** 1.1700 ** 1.1680 ** 1.1655 Last 1.1635 *** 1.1610 * 1.1580 **
  13. FxGrow Daily Technical Analysis – 7th Nov 2017 By FxGrow Research & Analysis Team Forex Daily Technical Overview 7 Nov 2017 EUR/USD Intraday: the downside prevails. Pivot: 1.1620 Our preference: short positions below 1.1620 with targets at 1.1580 & 1.1560 in extension. Alternative scenario: above 1.1620 look for further upside with 1.1640 & 1.1665 as targets. Comment: as long as 1.1620 is resistance, look for choppy price action with a bearish bias. Supports and resistances: 1.1665 ** 1.1640 ** 1.1620 *** 1.1589 Last 1.1580 * 1.1560 * 1.1530 ** AUD/USD Intraday: intraday support around 0.7670. Pivot: 0.7670 Our preference: long positions above 0.7670 with targets at 0.7695 & 0.7710 in extension. Alternative scenario: below 0.7670 look for further downside with 0.7650 & 0.7635 as targets. Comment: the break above 0.7670 is a positive signal that has opened a path to 0.7695. Supports and resistances: 0.7730 ** 0.7710 ** 0.7695 ** 0.7677 Last 0.7670 *** 0.7650 * 0.7635 * USD/JPY Intraday: the downside prevails. Pivot: 114.15 Our preference: short positions below 114.15 with targets at 113.65 & 113.30 in extension. Alternative scenario: above 114.15 look for further upside with 114.40 & 114.70 as targets. Comment: the break below 114.15 is a negative signal that has opened a path to 113.65. Supports and resistances: 114.70 114.40 114.15 114.13 Last 113.65 113.30 113.00
  14. FxGrow Daily Technical Analysis – 6th Nov 2017 By FxGrow Research & Analysis Team Forex Daily Technical Overview 6 Nov 2017 AUD/USD Intraday: key resistance at 0.7670. Pivot: 0.7670 Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7615 in extension. Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7715 as targets. Comment: as long as 0.7670 is resistance, look for choppy price action with a bearish bias. Supports and resistances: 0.7715 ** 0.7695 ** 0.7670 *** 0.7665 Last 0.7635 * 0.7615 * 0.7595 * GBP/USD Intraday: continuation of the rebound. Pivot: 1.3070 Our preference: long positions above 1.3070 with targets at 1.3135 & 1.3170 in extension. Alternative scenario: below 1.3070 look for further downside with 1.3040 & 1.3000 as targets. Comment: the RSI is supported by a bullish trend line. Supports and resistances: 1.3190 ** 1.3170 * 1.3135 * 1.3113 Last 1.3070 *** 1.3040 * 1.3000 * USD/JPY Intraday: bullish bias above 114.00. Pivot: 114.00 Our preference: long positions above 114.00 with targets at 114.40 & 114.70 in extension. Alternative scenario: below 114.00 look for further downside with 113.60 & 113.30 as targets. Comment: a support base at 114.00 has formed and has allowed for a temporary stabilisation. Supports and resistances: 115.00 114.70 114.40 114.06 Last 114.00 113.60 113.30
  15. B]AUD/USD Intraday: continuation of the rebound.[/b] Pivot: 0.7680 Our preference: long positions above 0.7680 with targets at 0.7750 & 0.7770 in extension. Alternative scenario: below 0.7680 look for further downside with 0.7640 & 0.7620 as targets. Comment: the break above 0.7680 is a positive signal that has opened a path to 0.7750. Supports and resistances: 0.7790 ** 0.7770 ** 0.7750 ** 0.7684 Last 0.7680 *** 0.7640 ** 0.7620 * Crude Oil‏ (WTI)‏ (Z7) Intraday: under pressure. Pivot: 54.70 Our preference: short positions below 54.70 with targets at 53.80 & 53.40 in extension. Alternative scenario: above 54.70 look for further upside with 55.22 & 55.70 as targets. Comment: technically the RSI is below its neutrality area at 50. Supports and resistances: 55.70 55.22 54.70 54.10 Last 53.80 53.40 52.80 Gold spot Intraday: bullish bias above 1273.00. Pivot: 1273.00 Our preference: long positions above 1273.00 with targets at 1282.50 & 1286.00 in extension. Alternative scenario: below 1273.00 look for further downside with 1268.00 & 1265.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1291.00 1286.00 1282.50 1276.40 Last 1273.00 1268.00 1265.00 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.
  16. FxGrow Daily Technical Analysis – 2nd Nov 2017 By FxGrow Research & Analysis Team Forex Daily Technical Overview 2nd Nov 2017 EUR/USD Intraday: continuation of the rebound. Pivot: 1.1625 Our preference: long positions above 1.1625 with targets at 1.1690 & 1.1720 in extension. Alternative scenario: below 1.1625 look for further downside with 1.1600 & 1.1570 as targets. Comment: the break above 1.1625 is a positive signal that has opened a path to 1.1690. Supports and resistances: 1.1750 ** 1.1720 ** 1.1690 ** 1.1643 Last 1.1625 *** 1.1600 * 1.1570 ** USD/JPY Intraday: bullish bias above 113.75. Pivot: 113.75 Our preference: long positions above 113.75 with targets at 114.30 & 114.75 in extension. Alternative scenario: below 113.75 look for further downside with 113.30 & 112.95 as targets. Comment: a support base at 113.75 has formed and has allowed for a temporary stabilisation. Supports and resistances: 115.20 114.75 114.30 114.05 Last 113.75 113.30 112.95 GBP/USD Intraday: intraday support around 1.3240. Pivot: 1.3240 Our preference: long positions above 1.3240 with targets at 1.3320 & 1.3360 in extension. Alternative scenario: below 1.3240 look for further downside with 1.3190 & 1.3155 as targets. Comment: a support base at 1.3240 has formed and has allowed for a temporary stabilisation. Supports and resistances: 1.3380 1.3360 1.3320 1.3256 Last 1.3240 1.3190 1.3155
  17. AUD/USD Intraday: bullish bias above 0.7650. Pivot: 0.7650 Our preference: long positions above 0.7650 with targets at 0.7700 & 0.7720 in extension. Alternative scenario: below 0.7650 look for further downside with 0.7625 & 0.7605 as targets. Comment: the RSI is mixed to bullish. Supports and resistances: 0.7745 0.7720 0.7700 0.7670 Last 0.7650 0.7625 0.7605 Crude Oil‏ (WTI)‏ (Z7) Intraday: the bias remains bullish. Pivot: 53.60 Our preference: long positions above 53.60 with targets at 54.50 & 54.75 in extension. Alternative scenario: below 53.60 look for further downside with 53.15 & 52.85 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 55.00 54.75 54.50 53.97 Last 53.60 53.15 52.85 Gold spot Intraday: the bias remains bullish. Pivot: 1271.50 Our preference: long positions above 1271.50 with targets at 1279.00 & 1283.00 in extension. Alternative scenario: below 1271.50 look for further downside with 1268.50 & 1260.00 as targets. Comment: the RSI is supported by a rising trend line. Supports and resistances: 1288.00 1283.00 1279.00 1276.22 Last 1271.50 1268.50 1260.00 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.
  18. FxGrow Daily Technical Analysis – 31st Oct, 2017 By FxGrow Research & Analysis Team Forex Daily Technical Overview 31 Oct 2017 GBP/USD Intraday: the bias remains bullish. Pivot: 1.3165 Our preference: long positions above 1.3165 with targets at 1.3235 & 1.3280 in extension. Alternative scenario: below 1.3165 look for further downside with 1.3125 & 1.3080 as targets. Comment: the RSI is mixed to bullish. Supports and resistances: 1.3325 1.3280 1.3235 1.3210 Last 1.3165 1.3125 1.3080 USD/JPY Intraday: consolidation. Pivot: 113.55 Our preference: short positions below 113.55 with targets at 112.95 & 112.70 in extension. Alternative scenario: above 113.55 look for further upside with 113.80 & 114.00 as targets. Comment: the RSI lacks upward momentum. Supports and resistances: 114.00 113.80 113.55 113.21 Last 112.95 112.70 112.30 EUR/USD Intraday: intraday support around 1.1600. Pivot: 1.1600 Our preference: long positions above 1.1600 with targets at 1.1675 & 1.1710 in extension. Alternative scenario: below 1.1600 look for further downside with 1.1570 & 1.1520 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1.1750 1.1710 1.1675 1.1637 Last 1.1600 1.1570 1.1520
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  20. FxGrow Daily Technical Analysis – 27th Oct, 2017 By FxGrow Research & Analysis Team Gold Has triggered A Price Action With Deeper Retractment, US GDP ?? After seven consolidation sessions where gold was fluctuating between 80+ and 70s area, finally gold has give a clear sign for a deeper dips and washes 6th Oct daily bullish grabber candle at 1260 low. Yesterday, gold extended the correction phase clocking 1282.60 high then started deprecation gradually, but after ECB's dovish scenario and as the EURO was aggressively plunging, the Dollar Index (DXY) was strengthening hitting three months high at 94.60, gold submitted closed one hour below 70, then extended losses at 1265.80 low. Today, gold traded narrow inside yesterday's candle with 1264.80 low, then started another correction phase till 1269, currently trading 1268 Intraday. Technically, yesterday's bearish candle is to be considered engulfing for 6th Oct bullish grabber and erased all the scenarios for potential upward trend reversal, and at this moment, market should expect some upward corrections between 72 and 78, but the 1250-45 zone still persists. Add to that, the 10-year yield bonds were also rising with 2.47 high today which adds more pressure on gold along with strong greenback. Fundamentally, market is awaiting U.S GDP which will be released today at 12:30 PM GMT, and market stands at two possible scenarios. In both cases, whether data is negative or positive and taking into consideration that DXY levels at H1 and H4 are oversold at RSI, gold and in react to the data, could rally shortly around 72 and 76 levels, but eventually the 1250+/- will be achieved (Technically). The other scenario is that gold could start falling reaching 1260-58 support area and start upward correction retracement also at 70s area, and again, the 1250+/- should be achieved (technically). Last but least, and to add an unpleasant scenario that could reverse the technical overview is any real political tension between NK and USA with serious actions, in this case we gold will shift as safe haven substitute and will start rising gradually depending on the level or pace of the events. XAUUSD Technical Summary Current price: 1268 Closing price: 1267.60 Trend: Down Target price: none at this moment Trend Reversal price: 1291.40 Resistance levels: 1270-72, 1282 Support levels: 1262.50 , 1260, 1250+/- Comment: Comment The market is bearish and suggesting a bear extension to test around the last swing low in the 1264-1261 levels. A close under 1260 opens up potential near 1250. Any corrections trapped within yesterday's outside bear range should retain bear forces and bear flag. A pop over 1282.30 is needed to stop pressing bear forces, however, only a close above 1291.40 will shit bear to bull 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.
  21. FxGrow Daily Technical Analysis – 27th Oct, 2017 By FxGrow Research & Analysis Team EUR/USD Clocks Three Months Low Over Dovish ECB, Eyes on U.S GDP EUR/USD was knocked out yesterday as the market undigested ECB's reduced QE size by half and simultaneously extended the duration, thus maintaining the same level of stimulus as before. As a result, the pair was on a massive selloff wave dipping from 1.1836 high to 1.1640 low, 196 pips during only eight hours. Today, EUR/USD extended losses at 1.1624 the months fresh lows with expectations for further dips in the coming days seeing the buck strengthening with 94.74 high today. Fundamentally, the U.S Index is back with a sharper tone sending strong message for all currency rivals as the House of Representatives has passed a budget bill paving the way for Trump's so long waited tax cut plan. The only bump at moment fronting is who will inherit the U.S Fed, still nominees are mixed between Powell and Taylor. Recent Reports has mentioned that current Yellen is ruled out, but rumors looms that Trump is worried about such scenario which could disrupt the hardy stock market rally that has taken place since his election. The Dow industrials have surged more than 30 percent from the low just a couple days before the Nov. 8 election. Last but not least, Spanish tension with Catalans referendum still vows which add more pressure on the EURO. Finally, this week risk event will be conducted with U.S GDP release today at 12:30 PM GMT with all eyes focused with expectations for a growth during third quarter. The data today will play significantly on the promised late U.S rate hike and DXY levels. EUR/USD Technical Overview: Current price: 1.1624 Target: 1.1480? Closing Price: 1.1652 Trend: Down Resistance levels: 1.1680, 1.1705 +/- , 1.1763* Support levels: 1.1540, 1.1480 Trend Reversal: 1.1763* Down 117.93 Comment: The market triggered a significant downside breakout from sideways congestion of the past month, opening up potential for a bear wave to 1.1480. Trade is poised for continuation selloffs. Any corrections should be rejected up along the lower edges of recent congestion. Only a close over 1.1763* marks a short term turnaround. 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.
  22. FxGrow Daily Technical Analysis – 26th Oct, 2017 By FxGrow Research & Analysis Team EUR/USD Pushes Higher, Seeing Draghi Hawkish EUR/USD has been actively bullish since yesterday rallying from 1.1753 low recording 1.1817 high. Today, the pair extended yesterday's action and pushed higher at 1.1836 with expectations for more pips as 5-EMA crossed with 10-EMA from below. Today market is expecting a hawkish statement as Super Mario Draghi crosses wires at 12:30 PM GMT. On the other hand, rates are highly expected to be left unchanged at 0% point basis, which turns all the attention to the ECB's Gov. Draghi has mentioned previously in Sep that tapering with QE program and details will laid out in Oct as the ECB holds a press conference. At the moment, ECB is currently running QE purchasing at 60B value. Now the question comes is how much or at which pace will Draghi slow down the amount and setting specific dates. Note expectations are between 25B and 40B reduction. Logically, any tapering with QE as reduction should be taken positive and EUR/USD should rally as the event itself is highly anticipated since a long time of period. But still, market may not digest the details and below are possible scenarios that should take action. First scenario which most likely, ECB will reduce monthly bond purchasing at 30B value and commit to buying bonds till Sep 2018 with a guidance. (Positive for EUR/USD). Second scenario which is likely. ECB will cut bond purchasing by 30B and commit the QE program till Jun 2018. ( Less positive ). Third scenario which is possible that ECB could cut monthly bond buys by 20B and commit to buying bonds to June 2018. ( Negative for EUR/USD) Last and fourth scenario which is unlikely, ECB will cut monthly bond buys by 40B and commit to buying bonds to Sept 2018. ( Strongly positive for EUR/USD). Technical Overview EUR/USD Current price: 1.1822 Closing price: 1.1812 Target price: None Resistance levels: 1.1830, 1.1860 , 1.1907* Support levels: 1.1760 , 1.1730? , 1.1680-70 Trend: Down Trend reversal price: 1.1909 General comment: Comment Overall the market is bearish and penetration under Monday's low suggests a selloff under the last 1.1780 swing low. Near term trade is showing corrections and may again work sideways higher today. A surge over 1.18945 voids the bear alignment. However, a close over 1.1907* is the key to start a reversing turn and sustained climb to higher levels. 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.
  23. FxGrow Daily Technical Analysis – 25th Oct, 2017 By FxGrow Research & Analysis Team Brexit Still Pressures GBP/USD, Eyes On UK GDP GBP/USD extends the downtrend momentum for eighth consecutive session after peeking to 1.3227 high yesterday, the pair failed to press forward and hold gains, taking a dip to 1.3113 low and closed at 1.3131. Currently the pair is trading narrow with 20-pips price action after hitting 1.3116 low support, but expectations for higher volatility as UK releases its quarter GDP shortly. Technically, on the chart we can notice that GBP/USD is capped inside wedge triangle and has been touching the boundaries but failing to close neither above the descending trend line, nor below ascending one, putting the pair in a state of congestion in case daily price managed to close above or below both lines. Fundamentally, GBP/USD is traded cautiously. First Brexit negotiations still weighs negatively on the pair favoring selloff mood and last week Carney was noticed less hawkish than precious press conferences held, but rate hike in November is still on the table and open to discussion which keeps the cable on solid ground preventing it from severe losses. Today, expectations are placed for GDP at 3% as recorded previously. Market stands on two potential scenarios. First, in case GDP scored 3% or above, this should be taken as a booster and second, if GDP missed 3% target, then adding all the negative elements above, market should expect a heavier abandon for GBP/USD and extending the bearish momentum. Technical Overview GBP/USD: Closing price: 1.3116 Target price: None Resistance levels: 1.3154 , 1.3200, 1.3248 Support levels: 1.3114 , 1.3080 , 1.3030 Trend: Sideways / Down Trend reversal price: 1.3226* General overlook: The market is still caught is a secondary decline. Near term trade is working through corrective congestion, but retains the bear bias. A close under 1.3080 should open ip a fresh bear leg. Near term trade may yet try to congest around 1.3154 +/- . A close over 1.3226* and 1.3260* are the triggers for a re-turn into higher prices. 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.
  24. FxGrow Daily Technical Analysis – 24th Oct, 2017 By FxGrow Research & Analysis Team Forex Daily Technical Overview 24 Oct 2017 GBP/USD Intraday: under pressure. Pivot: 1.3230 Our preference: short positions below 1.3230 with targets at 1.3155 & 1.3125 in extension. Alternative scenario: above 1.3230 look for further upside with 1.3260 & 1.3290 as targets. Comment: the RSI broke below a rising trend line. Supports and resistances: 1.3290 1.3260 1.3230 1.3190 Last 1.3155 1.3125 1.3085 USD/JPY Intraday: caution. Pivot: 113.75 Our preference: short positions below 113.75 with targets at 113.10 & 112.70 in extension. Alternative scenario: above 113.75 look for further upside with 114.10 & 114.30 as targets. Comment: the RSI is mixed and calls for caution. Supports and resistances: 114.30 114.10 113.75 113.40 Last 113.10 112.70 112.35 AUD/USD Intraday: under pressure. Pivot: 0.7825 Our preference: short positions below 0.7825 with targets at 0.7765 & 0.7745 in extension. Alternative scenario: above 0.7825 look for further upside with 0.7855 & 0.7885 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 0.7885 0.7855 0.7825 0.7795 Last 0.7765 0.7745 0.7730 Crude Oil‏ (WTI)‏ (Z7) Intraday: the downside prevails. Pivot: 52.10 Our preference: short positions below 52.10 with targets at 51.65 & 51.30 in extension. Alternative scenario: above 52.10 look for further upside with 52.30 & 52.60 as targets. Comment: the RSI is bearish and calls for further decline. Supports and resistances: 52.60 52.30 52.10 51.85 Last 51.65 51.30 50.85 Gold spot Intraday: bullish bias above 1276.50. Pivot: 1276.50 Our preference: long positions above 1276.50 with targets at 1284.00 & 1291.00 in extension. Alternative scenario: below 1276.50 look for further downside with 1272.00 & 1267.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1296.00 1291.00 1284.00 1279.97 Last 1276.50 1272.00 1267.00 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.
  25. AUD/USD Intraday: under pressure. Pivot: 0.7835 Our preference: short @ 0.7820 with targets @ 0.7800 & 0.7780 in extension. Alternative scenario: above 0.7835 look for further upside with 0.7855 & 0.7870 as targets. Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. Supports and resistances: 0.7870 0.7855 0.7835 0.7820 Last 0.7800 0.7780 0.7765 Crude Oil‏ (WTI)‏ (Z7) Intraday: further advance. Pivot: 51.60 Our preference: long positions above 51.60 with targets at 52.40 & 52.60 in extension. Alternative scenario: below 51.60 look for further downside with 51.30 & 50.85 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances: 52.80 52.60 52.40 52.16 Last 51.60 51.30 50.85 Gold spot Intraday: capped by a negative trend line. Pivot: 1282.00 Our preference: short positions below 1282.00 with targets at 1270.00 & 1265.00 in extension. Alternative scenario: above 1282.00 look for further upside with 1286.00 & 1291.00 as targets. Comment: the RSI is capped by a bearish trend line. Supports and resistances: 1291.00 1286.00 1282.00 1274.94 Last 1270.00 1265.00 1261.00 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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