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FxGrow Fundamental Analysis – 13th April, 2017 By FxGrow Investment Research Desk Japanese Yen Surges Over Tanked U.S Dollar, U.S Data Eyed USD/JPY extended the bearish momentum with 108.76 18-Dec-2016-fresh-lows supported by crisp U.S Dollar performance and upbeat Chinese Trade Balance. Overall, political tension starting with attacks on Syria and U.S battleship approaching North Korean offshore added political and economical uncertainties, hence Japanese Yen is a sacred refuge. Add to that, Trump comment yesterday that U.S Dollar is relatively too strong, tackled the Index to 99.91 low today with expectations that negative tails will follow such surprising deceleration. Trump also mentioned that question marks are placed next to Yellen as nomination for next U.S Fed presidency. Along came with it. Chinese trade balance early this morning scored $23.93B surplus versus +$10B expectations, adding more weight to Asian currencies. U.S Data today will give a better clue on how the pair will trade for the coming hours. Fundamentals: 1 -USD - Producer Price Index today at 12:30 PM GMT. 2- USD - Unemployment Rate today at 12:30 PM GMT. Technical overview: Trend: Bearish Sideways Resistance levels: R1 110.10, R2 111.04, R3 111.93 Support levels: S1 108.59, S2 107.75, S3 106.95 Comment: The market has turned bearish at the moment but keep an eyes on U.S Index levels. Trades below R1 will sustain bearish forces. A penetration for S1 level will increase selloffs and wash towards S2&S3 levels. On the other hand, a break above R1 level signs for larger bull waves R2 level at which, the pair will shift to 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.

FxGrow Fundamental Analysis – 13th April, 2017 By FxGrow Investment Research Desk Gold Tweets Higher Over Collapsing U.S Dollar, Eyes on U.S Data For the second week, Trump interfered, forbidding gold bullish forces to shift course and shoot lower. Last week, an attack on Syria with Tomahawk missiles, creating uncertainty and political tension in the middle eat. But Trump didn't stop at this level, he amplified the compass and headed east towards North Korea, increasing further tension, and along with it, gold was the ultimate choice as sacred haven for market with 1279.96 high. Yesterday, Trump broke his fasting silence with a hint that U.S Dollar is too strong causing U.S Index to shed $0.5 within 15 minutes, and today, U.S Index anchored at 99.91 low after clocking 101.24 on Monday. As a result, gold added $17 additional profits this week with a 1288.03 high, with expectation of bullish dilatation as tails yet to follow Trump's tweets. April is the lucky month for the yellow metal with $49 profits and +34.8% gains. XAUUSD can officially consider Trump as a strong ally and can count on Trump when desperate measures fail. Today, U.S Data has two major news with high impact, Producer Price Index PPI and Unemployment Rate, both scheduled for a release at 12:30 PM GMT, and market is anticipating the result and how Trump will tank U.S Dollar again. Technical Overview: Trend: Bullish Resistance levels: R1 1290.55, R2 1302.05, R3 1312.05 Resistance levels: S1 1271.55, S2 1262.70, S3 1253.03 Comment: Market to consider gold bullish due to the above fundamentals, but U.S data today could tackle rising cable or contribute to gold's bullish forces further. The pattern hints for a larger upswing if we see trade accelerate over 1285+, aiming at R2&R3 as a target. Any corrective dips should fight to hold over previous congestion at S1 level to keep strong bull forces. A penetration for S2 level in an alert for trend reversal, but only a close below 1249 is a 100% confirmation for bearish momentum. 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.

FxGrow Fundamental Analysis – 12th April, 2017 By FxGrow Investment Research Desk USD/CAD Extends Losses Ahead of BOC's Rate Decision USD/CAD extended the bearish momentum for the 5th consecutive session with a 1.3306 low today and stingy -33-pips price action. Loonie sharp tone was supported by collapsing U.S Dollar as the Index clocked 100.50 low today and crude oil bullish levels with 53.74 high today, considering Canada is a major oil producer. Canadian Dollar awaits today BOC interest rate decision and forecasts are highly bet to leave it at current 0.5% which could create a pessimistic wave for the Loonie, but the pair could receive a lift by Gov. Poloz depending on the speech tone. Fundamentals: 1- CAD - BOC Interest Rate Decision today at 2:00 PM GMT. 2- CAD - BOC's Gov. Poloz Speech at 3:15 PM GMT. Technical overview: Trend : Bullish Sideways Resistance levels: R1 1.3376, R2 1.3432, R3 1.3515 Support levels : S1 1.3294, S2 1.3231, S3 1.3166 Remark : Market to consider the pair bullish despite weekly losses due to strong relatively strong USD. A break below S1 will increase selloffs and wash towards S2 level. Dips should fight S1 level. Closing under S2 level is a signal for trend reversal and market to consider the pair bearish. On the other hand, closing above R1 level will spark bullish forces towards R2 level. Expect high volatility with sideways destination shortly after BOC rate decision. Crude levels are vital for the Loonie. 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 Fundamental Analysis – 12th April, 2017 By FxGrow Investment Research Desk Crude Oil Rallies Over Geopolitical Tension, Awaiting U.S Inventories Fundamentals: Crude oil prices added +1.28 profit bp this week +2.44% with 53.58 April-2017-fresh-highs. On March 2017, oil prices fell to the lowest at 47.07 over concerns of market glut driven by intensive U.S shale drilling and overloaded storage. Last week, U.S attack on Al-Shaayrat airfield sparked fears in market with possible consequences that yet might come in coming days and this week, tension aroused further more as U.S battleships approaches North Korean offshore, and the Koreans responded with a sharper ascending tone, threatening to use Nuclear muscle power, in case they are provoked. On the other hand, Saudi Arabia told OPEC cartel that they have the good intention of extending OPEC-deal that was constructed in Vienna, late 2016. Add to that, troubles with Libyan oil filed still continues. Last week, there were also concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. According to OPEC's sources quoted by Reuters, OPEC's 11 states with oil output targets comply 104% with curbs in March. Also, OPEC oil output data from secondary sources may be revised before publication on Wednesday. On Tuesday, the American Petroleum Institute said U.S. crude oil inventories fell by 1.3 million barrels last week, following a 1.8 million drop seen in the previous report. The weekly inventory report from the Energy Information Administration due to be released today during the NA session now has the potential to record a drop as well. Summary: Given the geopolitical tension in the middle eat and the ugly flirting between U.S and North Korea, crude levels has the potential to break higher. Add to that, Saudi Arabia message of six months extension desire which is a clear message for April 22th 2017 OPEC next-meeting, will support oil bullish forces more. We look forward for U.S Crude Inventories today at 2:30 PM GMT. Technical Overview: Trend: Bullish/sideways Resistance levels: R1 54.11, R2 54.79, R3 55.63 Support levels: S1 52.52, S2 51.67, R3 50.71 Remark: The market has turned short term bullish. A close over 53.65 is needed to continue pressing advances. Be guard for a back off from 53.65 into a short term swing high. Corrections should fight to hold along 51.00. A close Below S3 level is an indication for shifting course trend to 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.

FxGrow Fundamental Analysis – 11th April, 2017 By FxGrow Investment Research Desk EUR/USD Remains Under Pressure by Stronger U.S Dollar EUR/USD extended the bearish trend for the 12th consecutive session and has been confined with 37-pips price action since yesterday. The pair clocked a 1.0620 high today and remains under pressure by recovering US Dollar as the Index peeked to 101.24 high yesterday. Today U.S Index retreated to 100.73 low, showing signs of weakness following Yellen speech yesterday as the market still not digesting the outcome. Yellen and Co. abandoned the support for U.S Dollar, and left the Index to trade based on U.S upcoming economic events, stressing that U.S economy is doing well overall. Technical : Trend : Bearish Sideways Resistance levels: R1 1.0622, R2 1.0653, R3 1.0705 Support levels: S1 1.0570, S2 1.0537, S3 1.0486 Remark : The market is bearish and Friday's drop out from sideways congestion around 1.07+/- alerts for fro another aggressive selling wave to reach S2. Any corrective congestion trapped within the lower half of Friday's range will stay aligned for selloffs. A close above R3 level is needed to spark bullish forces and 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.

FxGrow Fundamental Analysis – 11th April, 2017 By FxGrow Investment Research Desk GBP/USD Bullish Momentum Re-Tests Ahead of Local Data Sterling showed a significant recovery on Monday with +63-pips price action. Today, GBP/USD was modest with +4 pips profit and the pair clocked 1.2432 high, then retreated 1.4221, at which the pair is currently trading intraday. GBP/USD still under pressure by recent strong U.S Dollar performance as the U.S Index clocked 101.24 April-2017-fresh-highs, although the index currently trades 100.93, is still a threat for the Sterling and promises for further declines for GBP/USD. Mrs. Yellen, head of U.S Fed crossed wires yesterday with the following headlines and the coming hours will decide how the market will digest Yellen's speech as traders awaited more positive hints for coming U.S Fed hikes. "I think we have a healthy economy now" "Whereas before we had our foot pressed down on the gas pedal trying to give the economy all the oomph we possibly could, now allowing the economy to kind of coast and remain on an even keel -- to give it some gas but not so much that we are pressing down hard on the accelerator -- that's a better stance of monetary policy," she said. "We want to be ahead of the curve and not behind it." Today, UK Data pocket is heavily loaded with Consumer Price Index CPI, Producer Price Index PPI, and Retail Price Index with CPI in focus. The UK CPI is expected to be weaker at 2.2% y/y in March versus a 2.3% reading booked last. On monthly basis, the consumer prices in the UK are expected to arrive at 0.3% versus 0.7% on previous sessions. GBP/USD low volatility is justified by markets being poised for economic data arrival today, but there will volatility after releasing data which will be eyed by BOE correlated with Inflation and coming interest rate decision. Fundamentals: 1- GBP - CPI + PPI + RPI today at 8:30 AM GMT. 2- GBP - BOE Gov Carney Speech tomorrow at 8:00 AM GMT. 3- GBP - Average Earnings Index 3m/y tomorrow at 8:30 AM GMT. Technical: Trend: Bearish Sideways Resistance levels : R1 1.2444, R2 1.2494, R2 1.2545, R4 1.2618 Support levels : S1 1.2375, S2 1.2321, S3 1.2267, S4 1.2195 Remark : UK Data today is crucial for GBP/USD trend coming hours with expectation of high volatility shortly after release. Although cable trend is currently bearish sideways, the data outcome could re-set GBP/USD Trend. U.S Index levels to be taken highly into consideration. 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 Fundamental Analysis – 07th April, 2017 By FxGrow Investment Research Desk Gold Rockets With Fury Over Trump's Attack Decision Gold inaugurated early trading at 1255.45 low and clocked a 1269.28 Dec-2016-Fresh highs with +$18.83 price action. Yesterday, Trump hinted that U.S military forces are considering the option of a possible attack on Syrian lands, but no one took his words seriously. Trump had to prove everyone wrong, and the prohibited occured, an attack on Al-Shayrat airfield on Syrian Territories with Tomhauk missiles, but this is not the end of the story. There are confirmed details that Russian military forces were at Al-Shayrat airfield base which should create further tension between U.S and Russia, and the biggest beneficiary was gold where markets and traders will consider XAUUSD as a safe haven alternative. This is not the end of gold bullish ride, and tails will extend further political tension supporting gold bullish forces. The first resistance failed at 1260, the second was tested successfully at 1267 with a minor correction, currently the yellow metal is trading 1263 intraday. Expectations that gold will dilate and extend further gains during the coming hours even though U.S Index is strong 100.68 high today. Gold tends to tweet comfortably despite U.S Dollar performance when economic and political uncertainties creeps into market. Gold next destination is 1275>1280 in case R2 level 1267 fails. Remark: Although markets are awaiting U.S NFP data today at 12:30 PM GMT, NFP could have a minor affect on gold due to the above political fundamentals. 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.

FxGrow Fundamental Analysis – 06th April, 2017 By FxGrow Investment Research Desk Gold Bull Forces Remain Under Pressure, U.S Data Will Decide Gold has postponed breaking the 1260 level for the third consecutive session and for the 8th time in 2017, XAUUSD has built a higher wall being impossible to penetrate. Yesterday, the yellow metal plunged to 1243.75 dramatically over ADP Non-Farm Employment Change with an upbeat 263K while forecasts were 184K. Markets awaited FOMC meeting yesterday with expectations about a precise or clear figure about coming hikes with date, but details were left unspoken, as a result, market reacted negatively and U.S Index shed -$0.69 after peeking to 100.95 earlier. Currently gold trades 1245.30 intraday, with agitated volatility. The same scenario has been repeated where gold reaches the climax of 1259, then fades aggressively as if the market is on an autopilot mood or Déjà vu. Today and tomorrow, U.S Data will decide once and for all, gold's destination. A break above 1261 will fuel gold bullish candles with fury, whilst, a failure to break above, market could witness pressured selling and gold will plunge below 1245 as a reminder of recent scenarios. On the other hand, other keys could provoke gold inclines including Trump's political continuous tension with China and doubts about his leadership, North Korea declarations of launching nuclear missile as a test arousing uncertainties, French coming elections with Frexist as what happened on Brexit, markets might head to gold a safe haven substitute when doubts creap into the market. Fundamentals: 1- USD - Unemployment Claims today at 12:30 PM GMT. 2- USD - Non-Farm Payrolls NFP tomorrow at 12:30 PM GMT. Technical Overview: Trend : Bullish Sideways Resistance levels: R1 1260.05, R2 1267.40, R3 1280.30 Support levels: S1 1249.80, S2 1242.26, S3 1236.75 Comment: Gold levels will be determined depending on U.S Data outcome. As for technical, staying above 1250 rekindles bull forces. A break above R1 with long positions should fuel larger bull hikes towards R2&R3 level. Yesterday's spike rebound has trade positioned for rallies as a restore of confidence. Any penetration for S1 level holds congestion with a reminder of aggressive selloffs towards S2 level. Closing below S2 is a signal for trend reversal and market to consider gold bearish. Expectations of high volatility during economic data release and traders to be careful from setbacks as recent behavior when gold tests support and resistance 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.

FxGrow Fundamental Analysis – 06th April, 2017 By FxGrow Investment Research Desk Silver Technical Overview Ahead of U.S Data Silver technical overview Trend : Bullish Resistance levels: R1 18.40 , R2 18.50, R3 18.73 Support levels: S1 18.19, S2 18.03, S3 17.74 Comment : The market is staying bullish with yesterday's bounce calling for another push higher. However, trade is pressed up against the previous downturn levels at R1&R2. A close over 18.55 is needed for a larger bull drive to R3 level. Be careful for a stall a stall against R1 and possible back off into flagging congestion. A slip through S2 level cautions for near term selling. A close under S3 is a signal for short term reversing turnover. Keep an eye on U.S Data today and tomorrow which will impact silver levels instantly. Be careful from setbacks as a first test on S&R due to high volatility. Only long positions above or below S&R is a confirmation for levels failure. 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.

FxGrow Fundamental Analysis – 05th April, 2017 By FxGrow Investment Research Desk Crude Oil Surges Over Fears Of Supply Tightening, Eyes on U.S Inventories Fundamentals: Crude oil level rallied yesterday +$1.41, and added +$0.14 today clocking a high 51.47, with expectation of additional gains, ahead of U.S Crude Inventories today. Oil bullish forces accelerated yesterday over signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. Another contributor (Iraq), entered the field on Sunday pledging to a full compliance with oil cut deal as OPEC chief hinted. Iraq has assured OPEC that it will fully comply with an agreement to cut oil supply in order to curb crude prices and the deal as a whole is encouraging, OPEC Secretary General Mohammed Barkindo said on Sunday in Baghdad. Iraq's compliance stands now at 98 percent, the nation's oil minister Jabar al-Luaibi told reporters, after addressing a conference in the Iraqi capital, also attended by Barkindo. General compliance with supply cuts by the oil producers was 86 percent in January and 94 percent in February and the market is already balancing, he added. On the other hand, the OPEC amd Non-OPEC deal for additional six months extension is cooked on a low steam and under the table which leaked optimism to the market as traders are anticipating it. Such deal, if struck, could accelerate rising price pace of crude oil despite U.S increased Shale drilling. Conclusion: Currently OPEC with above fundamentals have the upper hand, and markets should expect oil prices to climb back to Feb 2017 average $53 bp. Note: Look forward for U.S crude inventories today at 2:30 PM GMT which will give new perspectives for oil levels depending on the outcome. Technical Overview: Resistance levels: R1 51.65, R2 52.60, R3 53.52 Support levels : S1 50.86, S2 49.60, S3 48.41 Comment: The market has turned short-term bullish and calls for a larger bull wave up around R2&R3 levels. Stable action above 51.0 sustains bullish forces and boosts additional hikes. A slip below S1 cautions for near term correction, but only a close below S2 alerts for a trend reversal action and below S3, down-trend is confirmed. R1 level is sensitive as a psychological reminder of 2017 early rallies. 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.

FxGrow Fundamental Analysis – 05th April, 2017 By FxGrow Investment Research Desk EUR/USD Steadies Ahead of local Data, Eyes on FOMC Meeting Last week, EUR/USD witnessed an intensive decline and the pair plunged to 1.0649 on Friday after peeking to 1.0906 last Monday. This week, the pair was confined with 50-pips as price action and prolonged the third consolidation consecutive session with a weekly high at 1.0685. Although U.S Dollar has awakened with a 100.59 high yesterday, market is showing some immunity by other currency rivals due to overall political uncertainties and economies are shifting courses at a high pace, add to that, mixed data leaving markets confused and cautious trading. According to the analysts at Danske Bank, if we are close to a peak in inflation and they are right that the pricing of hikes in the Eurozone will prove premature, EUR/USD should stay under pressure in coming months and fall back towards 1.05 as close-to-neutral positioning in the cross makes room for a revival in relative rates. Eurozone still has many obstacles to overcome before the whole image is drawn, especially the French coming elections and Frexit is already on tongues. This week, currency majors traded narrow as analysts awaits FOMC meeting minutes today and U.S NFP this Friday which should create higher volatility despite a negative or positive outcome especially EUR/USD. Local EURO services PMI is expected to have minor volatility. The main focus will be on tonight's FOMC meeting with eyes and ears focused on every word, trying to decipher messages, and the process of pricing the market could start all over again and FOMC members will do their best of avoid this scenario. Fundamentals: 1- EUR - Final Services PMI today at 7:00 AM GMT. 2- USD - FOMC Meeting Minutes today at 6:00 PM GMT. 3- USD - Non-Farm Payrolls on Friday at 12:30 PM GMT. Remark : U.S Data is heavy this week, but market poised and tied with FOMC meeting and NFP result, which leaves other data less significant. Technical Overview: Trend: Bearish / Sideways Resistance levels : R1 1.0712, R2 1.0771, R3 1.0826, R4 1.0877 Support levels : S1 1.0632, S2 1.0589, S3 1.0532, S4 1.0478 Summary: Overall, the pair remains under pressure by strong U.S Index and market to consider EUR/USD bearish. But economic data this week will determine the trend further more. A penetration for S1 level will increase further selloffs and wash towards S2. A break below S2 level warns for additional intensive declines towards S3&S4. Any close below 1.07 is negative. Rallies that stay capped by 1.0800 should maintain bear forces. Closing above R3 level, traders to take it as sign for shifting trend course and above R4, uptrend is 100% confirmed. Be careful from setbacks as a first test on S&R levels due to high volatility. 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.

FxGrow Fundamental Analysis – 04th April, 2017 By FxGrow Investment Research Desk USD/JPY Extended Further losses Despite Recovering U.S Dollar Unlike U.S Dollar soaring rivals, Japanese Yen managed to hold strong positions facing Sharp U.S Dollar tone, and USD/JPY rolled -59-pips today, adding -66-pips loss since Monday. The pair plunged to 110.33 earlier, and when uncertainties aroused by markets and economies, Japanese Yen is often a substitute as sacred haven. The pair bearish forces were supported by BOJ's Tankan report signifying a large manufacturer DI improvement less than expected - Nomura. Namura report also added “Results not inconsistent with an export-driven economic recovery" Fundamentals: 1- USD - FOMC meeting tomorrow at 6:00 PM GMT. 2- USD - Non-Farm (NFP) on Friday at 12:30 PM GMT. Remark : This weekly economic data is light with Japanese Yen, on the other hand, heavy loaded for U.S economy with FOMC meeting in focus, after that NFP on Friday. Look for hints from U.S Fed regarding how many hikes are left and when. As for NFP this Friday, the result will determine USD/JPY trend for the coming days. Technical overview: Trend: Sideways Resistance levels: R1 111.20, R2 111.74, R3 112.79 Support levels: S1 110.20, S2 109.66, S3 109.13 Comment: Current bullish trend of U.S index keeps USD/JPY under pressure despite this week losses. A break below S1 alerts for a bullish shifting forces and only a close below S2, the market will confirm the pair bearish trend. Market will retest last week's strong S1 level and dips should fight to stay above it. A penetration for R1 level will result in buying congestion with respect to strong U.S Dollar with fast upward correction towards R2 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.

FxGrow Fundamental Analysis – 04th April, 2017 By FxGrow Investment Research Desk Copper Technical Overview Copper Technical Overview Trend : Bearish Sideways Daily Pp 261.70 Resistance levels : R1 262.33, R2 264.06, R3 267.32 Support levels : S1 259.02, S2 256.66, S3 253.80 Comment : Yesterday's break marks a short-term reversing turnover and calls for selloffs to press for a breakout under recent congestion swing lows. A close below 258.80 signals for a selling wave 251.60. Trade may again bounce and continue choppy sideways congestion of recent weeks. A close over 267.32 is needed to flip the trend bias back up. 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.

FxGrow Fundamental Analysis – 04th April, 2017 By FxGrow Investment Research Desk June U.S Dollar Index Technical Overview U.S Dollar Index Technical Overview Trend : Sideways/Up Resistance level: R1 100.57, R2 100.89, R3 101.31 Support levels : S1 99.90, S2 99.38, S3 99.05 Comment : The market is triggering a short term upturn and projects a climb to 101.31. Trade is poised for rallies, although be prepared for near term dips and basing action just under 100 to set up for rallies. A close under 99.38 is needed to rekindle bear trend forces. 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.

FxGrow Fundamental Analysis – 04th April, 2017 By FxGrow Investment Research Desk Sterling Bumps with Negative Manufacturing PMI, Awaiting Furhter Data GBP/USD extended the bearish momentum trading session today with 1.2420 low, and the pair is witnessing aggressive selling following negative UK Manufacturing PMI yesterday at 54.2, less by 0.3 on previous sessions. The pair lost -146-pips since yesterday and couldn't take advantage of dipping U.S Index at 100.28 low on earlier sessions today. Skepticism still evolves around UK's economic outlook, and negative local data added a darker aura as traders still have their deep doubts on how will Sterling perform after a departure from EU. GBP/USD levels awaits today additional test as UK releases Construction PMI, and in case of a negative score, doubts will creep deeper and markets could witness an abandon-ship for the pair and intensive selling and vise versa. GBP/USD currently trades 1.2444 intraday. Fundamentals: 1- GBP - Construction PMI today at 7:30 AM GMT. 2- USD - FOMC meeting tomorrow at 6:00 PM GMT. Technical overview: Trend : Bearish Sideways Resistance levels: R1 1.2500, R2 1.2560, R3 1.2638 Support levels : S1 1.2399, S2 1.2324, S3 1.2241 Remark : Look forward for UK local data today which will decide the pair trend for coming hours. U.S Index levels are to be watched carefully especially tomorrow during FOMC meeting. A penetration for S1 level is a further confirmation for the bearish momentum and wash towards S2 level. A close above R1 level will re-establish bullish forces and the pair will shift 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.

FxGrow Fundamental Analysis – 03rd April, 2017 By FxGrow Investment Research Desk Aussie Slips on Negative Data Ahead of RBA Rate Decision Australian Dollar opened Asian trading session with negative Retails Sales -0.1% compared to 0.4$ on previous sessions and plunged 49-pips at 0.7591 low. On the other hand, U.S Index shifted the downtrend and instead, a significant recovery +$1.84 since last week and the Index clocked 100.49 today, ahead of local ISM Manufacturing PMI which will either confirm the bullish trend, or the Index will hit a bump. Currently AUD/USD 0.7604, with efforts to withhold the 0.78 level as USD pressures the Aussie. AUD/USD is trading thin today with 49-pips as price action, and it's expected to extend narrow ahead of Australian Trade Balance, followed by RBA's interest decision tomorrow early. Although forecasts highly bet that RBA wont wave the changing card and to leave it at current 1.5%, which leaves traders more anticipated on what will Lowe has to say on behalf of RBA preceded by local Trade balance. Analysts will try to decipher words out of Lowe with hawkish or dovish tone regarding the economic outlook and monetary policy supported by the result of trade balance. Fundamentals: 1- USD - ISM Manufacturing PMI today at 2:00 PM GMT. 2- AUD - Trade Balance tomorrow at 1:30 AM GMT. 3- AUD - RBA Interest Rate Decision tomorrow at 4:30 AM GMT. 4- AUD- Lowe, Gov of RBA speech tomorrow at 9:15 AM GMT. Technical Overview: Trend: Bullish Sideways Resistance levels: R1 0.7641, R2 0.7674, R3 0.7719, 0.7764 Support levels : S1 0.7582, S2 0.7540, S3 0.7496, S4 0.7458 Remark : Market to consider AUD/USD bullish despite early losses due to U.S Dollar bullish trend. Trade is poised with expectations of low action as market awaits vital Australian economic news tomorrow, market should kick with high volatility on Australian Trade balance and Lowe speech. A break S1 level signals a beginning of trend reversal and only a close below S2, market to consider the pair 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.

FxGrow Fundamental Analysis – 31st March, 2017 By FxGrow Investment Research Desk Silver Retreats Temporary As US Index Inches higher Although silver suffered -15-pips loss yesterday over mix US Data with positive GDP 2.1% being in main focus, XAGUSD sustained the bullish trend despite recovering U.S Index peeking to 100.46 high, 9-pips below 50 SMA D1, after two weeks dwelling below 99. Negative unemployment claims with 3K narrow difference on 261K previous sessions, analysts took it as neutral despite the overall outcome. But what really energized U.S index was the GDP, paving the scenario content for next FOMC meeting next Wednesday, and market took it as a sign of possible hawkish tone where FOMC releases the statement. Markets started placing bets against odds of U.S Fed meeting, and the process of pricing the market is already in action. Currently, silver trades 18.09 after tumbling to 18.04 early this morning. U.S Index is confined with 17-pips price action and its expected to keep that thin due to further U.S Data coming today with PCE and Personal spending in the main frame with, and the result could tackle the tone of FOMC members Dudley and Kashkari. GDP, PCE, Personal Spending, CPI, and inflation are the basis that central banks focus on whenever there is an interest rate decision. Finally, metals drop on strong US GDP data which increases bets on Fed rate hike decision. FOMC members Dudley and Kashkari will talk today and will give clues on future monetary policy. Note: Kashkari was the only FOMC member who waved a red card in last the U.S Fed meeting where 0.25% took action. Fundamentals: 1- USD - Core PCE Price Index m/m today at 1:30 PM GMT. 2- USD - Personal Spending m/m today at 1:30 PM GMT. 3- USD- FOMC members Dudley and Kashkari speeches today. Technical: Bullish Sideways Resistance levels : R1 18.04, R2 18.30, R3 18.55 Support levels : S1 18.04, S2 17.83, S3 17.55. Remark : Silver still to be considered bullish although XAGUSD trading near sensitive support levels that could provoke bearish forces. Staying within 29th price actions support silver bullish forces and a break above R2 alerts for larger bullish wave towards S3 level. A break below S2 level alerts for a beginning of a trend reversal, and below S3, market to consider silver 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.

FxGrow Fundamental Analysis – 30th March, 2017 By FxGrow Investment Research Desk Copper Technical Overview Trend : Sideways Up Daily Pp : 266.6 Resistance levels : R1 : 269.30 , R2 270.51 , R3 273 Support levels: S1 264.45 , S2 260.90 , S3 258.60 Comment: The rebounds this week are triggering short term reversal, signaling for rallies to 273. Trade is poised to extend rallies today. Any corrective dips that show a sideways day will provide a staging level for rallies. The trend reversal point is 260.91, and a close below is needed to reverse back to negative trade. 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.

FxGrow Fundamental Analysis – 30th March, 2017 By FxGrow Investment Research Desk Gold Bullish Forces Decelerate By Awakening U.S Dollar, Awaiting Further Data Gold has entered the 6th bullish consolidation session and has been jailed with 200-pips price action. The yellow metal plunged to 1248.30 low today after a long struggle with 1250 handle, and yesterday, XAUUSD couldn't overcome the 1255 hitch which still supports the bullish trend. On Tuesday, gold peeked to 1258.47 high, keeping a tight range between Monday's 1261.10 high, as U.S index sank to 98.65 2017 low, and markets expected gold to jet ride for higher levels giving the circumstances. Gold bullish forces were tackled by positive U.S CB consumer confidence which sparked USD bearish levels and U.S index showed a minor recovery today with 99,89 high, postponing gold sky trip for another session as U.S releases today unemployment claims, but the main focus will be on the GDP as analysts tend to relate it directly to U.S fed policy and their in take. U.S GDP today will set the tone for next FOMC members speech with the possibility of hawkish or dovish tone regarding next interest hikes, and traders has to take U.S data today as articular as well gold levels will. Note: Keep in mind that releasing Article 50 with the French coming election could provoke uncertainties around EU, and gold prices could rally as traders tend to turn to XAUUSD as a sacred haven metal instead of currencies. Fundamentals: USD - Unemployment Claims today at 1:30 PM GMT. USD - Final GDP q/q today 1:30 at 1:30 PM GMT. Technical: Trend: Bullish Sideways Resistance levels : R1 1263.71, R2 1275.94, R3 1284.24 Support levels : S1 1244.48, S2 1236.62, S3 1225.25 Remark: The market remains bullish and calls for additional attacks towards R1 although U.S index has showed vital signs. A break above R1 which is considered articular which projects intensive bullish waves towards R3 level due to previous retracements and setbacks from R1. Staying within Monday's range keeps bullish forces in action as well as the trend. A penetration for S2 levels, signals a beginning for bearish trend and closing below S3, market to consider gold downward. U.S economic data not to be missed today in corelation with U.S Index levels which impacts gold levels directly. 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.

FxGrow Fundamental Analysis – 29th March, 2017 By FxGrow Investment Research Desk Oil Bullish Forces In Action Over OPEC Deal Extension, Eyes on U.S Inventories The long waited deal between OPEC and Non-OPEC counties has finally saw the light as we mentioned in the last article we posted. Yesterday, oil levels surged +$0.94, with a high 48.73, highest levels for this week and today, crude extended bullish candles with 48.57 with expectations to surpass Wednesday's highs. Crude levels were confined with $1.65 price action with six consolidation consecutive sessions indicating low volatility as markets were anticipating hints from either U.S increased shale drilling or from OPEC striking a newer deal, other than Vienna. API data showed U.S. crude supplies up 1.9 million barrels. The American Petroleum Institute late Tuesday reported a rise of 1.9 million barrels in U.S. crude supplies for the week ended March 24, according to sources. The API data also showed a decline of 1.1 million barrels in gasoline supplies and a fall of 2.0 million barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast an increase of 300,000 barrels in crude inventories. Between the U.S and OPEC, another fundamental catalyst logged the field, (Libya) an armed protesters blocked Sharara and Wafa oil western fields, reducing output by 252,000 barrels per day (bpd), a source at the National Oil Corporation (NOC) told Reuters late on Tuesday. MOSCOW (Reuters) - Russia and Iran have pledged to continue efforts to rein in oil production and stabilize markets, the presidents of both countries said in a joint statement on Tuesday. "Russia and Iran will continue cooperation in this sphere (in oil output cuts) in order to stabilize the global energy market and ensure stable economic growth," the statement from Russian President Vladimir Putin and Iranian counterpart Hassan Rouhani said. According to Bank of America Merrill Lynch, U.S. oil production growth between September and December was almost entirely the result of offshore wells, which increased production by 220,000 barrels a day in that period. Offshore projects are much more long-term investments. They are far more costly to develop and take years to get started. "Those projects have an inertia," said John Kilduff of Again Capital. Total U.S. oil production peaked at 9.6 million barrels a day in 2015 and fell to 8.56 million by September, according to Energy Information Administration data. Since then, U.S. production has jumped back, reaching 9.1 million barrels a day this month, according to the latest EIA weekly data. (CNBC). The Organization of the Petroleum Exporting Countries (OPEC), along with some other producers including Russia, have agreed to cut production by almost 1.8 million bpd during the first half of the year in order to rein in a global fuel supply overhang and prop up prices. But as markets remain bloated halfway into the cuts, there is a broad expectation that the supply cuts will be extended into the second half of the year. Despite the rising consensus of extended cuts, the OPEC-led strategy to re-balance oil markets is not without controversy. As OPEC and especially Saudi Arabia cut their production, other producers not participating in the cuts have been quick to fill the supply gap and gain market share. (Reuters). In the United States in particular, shale oil drillers have seized the opportunity to ramp up output and exports. As a result, China became the third biggest overseas destination for U.S. crude oil in 2016, according to data from the Energy Information Administration (EIA), up from ninth position the previous year. "In 2016, U.S. crude oil exports averaged 520,000 bpd, 12 percent above the 2015 level, despite a year-over-year decline in domestic crude oil production," the EIA said. Conclusion: Currently, the U.S has the upper hand controlling oil bearish levels, but given the above fundamentals between Libyan oil field issues and OPEC and Non-OPEC deal waving on horizon, crude levels could steady back to $50>$52 pb, that's if and only if. Otherwise, crude levels will sustain the $47>$49 pb. Remark : Look forward for U.S Crude inventories set to be released today at 3:30 PM GMT and forecasts are 1.2M compared to 5.2M on previous sessions. The above fundamentals are the key player and markets should pay attention about what's coming next, either from OPEC or perhaps another new fundamental other than Libyan protesters, which could tackle oil prices upward or downward. 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.

FxGrow Fundamental Analysis – 29th March, 2017 By FxGrow Investment Research Desk GBP/USD Digests Monday's Gains Ahead of Article 50 Release Sterling lost the sharp tone yesterday and went to a softer one today as UK gears up for the historic release for Article 50. GBP/USD bled -239-pips since Monday and plunged to 1.2376 low today over fears of consequences of what might outcome as PM releases the article. Traders has abandoned buying positions of GBP/USD high levels and left the pair to cast at lower levels with aggressive selling. On the other hand, U.S Index is showing a minor recovery today, with +$0.71 increase following positive U.S Consumer Confidence release yesterday with a positive 125.5 compared to 116.1 on previous sessions. PM May has already signed the Article 50 letter, which will be delivered by Tim Barrow today at 11:30 GMT. Thereafter, the European Council (EC) President Donald Tusk will hold a press conference at 13:45 GMT on the UK Article 50 notification. The UK PM May finally invoking the Article 50 means the process of the Britain to exit EU’s membership commences, after the referendum vote held in June last year showed Brits favoring a Brexit by 51.9% to 48.1%. Once the Article 50 is triggered later today, the terms of Britain's exit will have to be agreed by 27 national parliaments, a process which could take some years. Some EU leaders believe, it could take as long as 5 years to agree to new trading and immigration policies with the remaining countries In the meantime, the UK will continue to abide by EU treaties and laws.” Once the Article 50 is released, the terms of Britain's exit will have to be approved by 27 national parliaments, a process which could take some years. Some EU leaders believe, it could take as long as 5 years to agree to new trading and immigration policies with the remaining countries In the meantime, the UK will continue to abide by EU treaties and laws.” Timeline post-Article 50 trigger (via the Sun) MARCH 31: Donald Tusk will give the EU’s remaining 27 member states’ initial response to Mrs May. APRIL 29: Emergency summit of the 27 EU leaders to agree on the mandate for their lead negotiator Michel Barnier to conduct exit talks. MAY 7: French presidential elections final run-off. Many believe serious talks cannot begin until we know who the next French president is. MID MAY: Michel Barnier draws up EU’s negotiating guidelines based on the mandate given to him. The EU’s council of foreign ministers meets to sign them off. LATE MAY/EARLY JUNE: Face-to-face Brexit negotiations between Britain and the EU begin. SEPT 24: German elections, to decide if Angela Merkel continues as Chancellor or is ousted. Difficult for much to be agreed on Brexit until then. OCTOBER 2018: Both sides want to conclude negotiations six months before Britain leaves the EU to give the Houses of Commons and Lords, as well as the European Parliament and other national assemblies, time to ratify the final Brexit deal. We could see a ‘soft’ Brexit landing if the UK agrees to compromise on issues like the free movement of people in order to maintain access to the EU single market. Contrarily, a ‘hard’ Brexit would be inevitable, in case the UK fails to reach a deal for the single market access with the EU. Remark: Due to uncertainties evolving currently around UK with correlation of Article 50, and U.S Index sudden recovery, market to expect high volatility for GBP/USD. A break above 1.2464 projects additional bullish waves towards Monday's range at 1.2535 & 1.2605. The opposite scenario, A penetration for 1.2337 will increase further selloffs and wash towards 1.2241 & 1.2112 intensively. UK economic data today could be ignored due to Article 50 topic being the main frame for Sterling. 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.

FxGrow Fundamental Analysis – 28th March, 2017 By FxGrow Investment Research Desk GBP/USD Clocks Two Months High Ahead of Article 50 Release Sterling was the talk of the market yesterday with a 1.2615 high and extended the bearish momentum for the 10th consecutive sessions. Although the pair lost -47-pips as price action since yesterday, the pair successfully sustained the 1.25 handle and currently trading 1.2568 intraday. Overall, GBP/USD rallied 471-pis since the U.S Fed hike, till yesterday high, and the pair is preparing for additional bullish waves due to soaring U.S Index yesterday with 98.65 2017-fresh-lows. On the other hand, UK demands a final departure politically and financially from the EU. Political is by PM May releasing article 50 on the 29th of March which will set a new course for UK, but before that, PM May met with Scottish PM Nicola Sturgeon. Sturgeon has called for a second Scotland independence referendum, against May's will, but the terror attack from last week has interrupted the tense relations between them both. After officially lunching the Brexit, the UK will have two years to negotiate new arrangements, after which it will no longer be subject to EU treaties. On the Financial level, The EU has to make up a budget gap once the Brexit becomes official. Britain's exit from the European Union indicates that one of the bloc's biggest economies will stop making donations to its budget. This arouses questions as to how long the U.K. will proceed to pay its share of the budget and how can the EU fill the blacnk once Britain has officially left. The U.K. has already said it will not pay a 60 billion euro ($64.73 billion) bill to departure the bloc – money that according to the EU would be used for the U.K.'s share of commitments to the pensions of its workers and U.K.-based projects that have already received funding approval. At the same time, some member states have already told Brussels that the UK are not willing to pay more into the EU budget to compensate for the U.K.'s divorce. (CNBC) Fundamentals: 1- USD - Goods Trade Balance today at 1:30 PM GMT. 2- USD- CB Consumer Confidence today at 3:00 PM GMT. Technical : Trend : Bullish Sideways Resistance levels: R1 1.2598, R2 1.2640, R3 1.2682 Support levels : S1 1.2531, S2 1.2462, S3 1.2392 Remark : Given the current situation of pale greenback trading 98.96, and GBP/USD significant rallies Sterling has the upper hand which supports the pair's bullish forces. Closing above R1 restores confidence for Sterling and the pair has the tendency to climb to R2 level. On the other hand, stalling below S1 will increase further selloffs and wash towards S2 level signaling a beginning for trend reversal. Closing below S2 is a confirmation that bearish forces has taken control and market to consider GBP/USD bearish with a reminder that the pair collapses intensively on psychological level. Political issues such as article 50 and Scottish referendum are vital for Sterling levels on the fundamental 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.

FxGrow Fundamental Analysis – 27th March, 2017 By FxGrow Investment Research Desk Japanese Yen Holds a Ruthless Grip Over Softer US Dollar Japanese Yen launched Asian trading sessions with a sharp strong tone facing pale greenback supported by positive summary by BOJ and Services Producer Price Index SPPI 0.8% compared to 0.5% on previous sessions. The pair penetrated the taboo support level (110.60) aggressively with 110.25 22-Nov-2016-fresh lows, from which bull forces rallied at 103.71 7-Nov-2016 low. Overall, USD/JPY has shed -79-pips as price action, trading below 200 SMA (111.17 D1), and it is expected to drift downward further more given the current circumstances. BOJ Summary was as follows : 1- Japan's economy has continued its moderate recovery trend and Private consumption has been resilient against the background of steady improvement in the employment and . 2- Exports and production have remained firm on the back of a global pick-up in manufacturing, mainly supported by IT-related goods. 3- Japan's economy is likely to continue to recover in line with the path we expect, backed by synergy effects of the government's large-scale stimulus package and the Bank's monetary easing measures, with improvements in overseas economies. 4- Japan's economy is projected to continue to see moderate recovery toward fiscal 2018 unless downside risks stemming from developments in overseas economies materialize, such as a rise of protectionism, political and economic instability in Europe, and an increase in geopolitical risks in the Middle East and Asia. On the other hand, US Dollar was bearish for the second consecutive week with a clear signal for additional bearish forces as the Index gaped downward -$0.42 and dug deeper at 99.06, 2017-new-lows. Trump's health care voted with an annulment on Friday showed Republicans weak trying to replace ex-Democratic Obamacare health program, which added additional question mark around Trump's capacity to lead the free world nation (USA), and consequences are expected to dilate further more as U.S Wallstreet opens. Fundamentals : 1- USD - FOMC Member Evans speech today at 6:15 PM GMT. 2- USD - CB Consumer Confidence tomorrow at 3:00 PM GMT. 3- USD FOMC Member Kaplan speech tomorrow at 6:00 PM GMT. Technical: Trend : Bearish Resistance levels : R1 111.33, R2 112.38, R3 113.33 Support levels : S1 110.25, S2 109.33, S3 108.20 Trend : Bearish Sideways Remark : Current situation of low U.S Index and positive Japanese Data signals for further dips for USD/JPY. Negative decision on Trump's healthcare program will still tail for the coming trading hours and market should expect further declines for US Dollar.Also, FOMC members appearance this week is heavy, traders should watch for hawkish hints regarding coming U.S Fed hikes with efforts to rescue U.S Index. A penetration for S1 will increase further selloffs and wash towards S2 level. A close below S2 level projects additional bear forces for the cable but be careful from setback as a test on support levels. Keep in mind that below S3 level is a threat for USD/JPY Nov-2016 rallies. A close above R2 level is an alert for trend reversal and above R3, bullish trend will re-confirmed once again. 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.