Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 29th September, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: bullish bias above 0.7830.

Pivot: 0.7830

Our preference: long positions above 0.7830 with targets at 0.7860 & 0.7880 in extension.

Alternative scenario: below 0.7830 look for further downside with 0.7805 & 0.7780 as targets.

Comment: a support base at 0.7830 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
0.7900
0.7880
0.7860
0.7845 Last
0.7830
0.7805
0.7780

Comment: Overall, the general trend is still down. Today's and Monday's upward retrwcement are part of a correction, preparing for deeper dips. A close over 0.7908 is needed for reversing trend and become bullish.


Gold spot Intraday: rebound.

Pivot: 1282.00

Our preference: long positions above 1282.00 with targets at 1289.00 & 1295.00 in extension.

Alternative scenario: below 1282.00 look for further downside with 1276.00 & 1271.00 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1300.00
1295.00
1289.00
1285.13 Last
1282.00
1276.00
1271.00

Comment: The market is bearish, but against the 1282.50- target. The market posture remains negative and close under 128450-1280 implies declines to 1270-1267. Yesterday's rebound from under 1282.50 should put us on guard for stalled declines and minor turn that could trigger a rebound into 2-3 flagging congestion days near 1300. A close over 1301.10* is friendly.


Crude Oil‏ (WTI)‏ (X7) Intraday: break of a ST rising trendline support.

Pivot: 51.85

Our preference: short positions below 51.85 with targets at 51.20 & 50.75 in extension.

Alternative scenario: above 51.85 look for further upside with 52.25 & 52.85 as targets.

Comment: the RSI advocates for further downside.

Supports and resistances:
52.85
52.25
51.85
51.40 Last
51.20
50.75
50.30

Comment: The market is bullish, powering a breakout run up from congestion. The market alignment holds potential for additional rallies to 52.60+/-. Any corrective congestion contained to the upper edges of Monday's run will remain aligned for rallies. Only a close under 50.76* signals a topping turnover.


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/iMefgZ

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 02nd October, 2017
By FxGrow Research & Analysis Team

GBP/USD Testing 20-EMA For The Third Session Ahead of UK PMI

GBP/USD rallied on Monday's Asian clocking 1.3398 high, testing 10-EMA 1.3400 successfully, and retreated to 1.3331 low, still testing 20-EMA area since Thursday, but has closed below it, which keep the daily trend bullish.

Fundamentally, PM May promised on Saturday to deliver the best deal for Brexit and offered her apologies for putting the Conservatives under pressure after the snap election that ended in less control for UK Parliament and within her party, My is under pressure as calls for resignation has been requested which explain the why the Pound in under selloff wave today ahead of UK Manufacturing PMI.

Technical Overview:

Target: None

Closing Price: 1.3396

Trend: Sideways / Up

Resistance: 1.3456 , 1.3489 , 1.3532

Support levels: 1.3337, 1.3269, 1.3225

Comment The market remains in a corrective setback against the prevailing bull trend, hinting for possible topping action. A close under 1.3371* opens up potential to 1.3225*. Stay prepared for defensive trading pressures, but stabilizing off 13381* could swing trade back to recovery action. A close over 1.3532* rekindles bull forces and should spark rallies back to the last high.

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/T3TvYD

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 03rd Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: the downside prevails.

Pivot: 1.1740

Our preference: short positions below 1.1740 with targets at 1.1680 & 1.1645 in extension.

Alternative scenario: above 1.1740 look for further upside with 1.1770 & 1.1800 as targets.

Comment: the RSI has broken down its 30 level.

Supports and resistances:
1.1800
1.1770
1.1740
1.1707 Last
1.1680
1.1645
1.1615


GBP/USD Intraday: the downside prevails.

Pivot: 1.3315

Our preference: short positions below 1.3315 with targets at 1.3205 & 1.3165 in extension.

Alternative scenario: above 1.3315 look for further upside with 1.3355 & 1.3400 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
1.3400
1.3355
1.3315
1.3252 Last
1.3205
1.3165
1.3125

USD/JPY Intraday: the bias remains bullish.

Pivot: 112.75

Our preference: long positions above 112.75 with targets at 113.25 & 113.50 in extension.

Alternative scenario: below 112.75 look for further downside with 112.50 & 112.20 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:
113.75
113.50
113.25
113.00 Last
112.75
112.50
112.20

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/h8PDRo

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 03rd Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: capped by a negative trend line.

Pivot: 0.7850

Our preference: short positions below 0.7850 with targets at 0.7790 & 0.7765 in extension.

Alternative scenario: above 0.7850 look for further upside with 0.7875 & 0.7900 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
0.7900
0.7875
0.7850
0.7815 Last
0.7790
0.7765
0.7725

Gold spot Intraday: under pressure.

Pivot: 1277.00

Our preference: short positions below 1277.00 with targets at 1267.00 & 1262.00 in extension.

Alternative scenario: above 1277.00 look for further upside with 1281.00 & 1286.50 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1286.50
1281.00
1277.00
1269.90 Last
1267.00
1262.00
1254.00


Crude Oil‏ (WTI)‏ (X7) Intraday: under pressure.

Pivot: 50.95

Our preference: short positions below 50.95 with targets at 50.05 & 49.75 in extension.

Alternative scenario: above 50.95 look for further upside with 51.30 & 51.75 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
51.75
51.30
50.95
50.47 Last
50.05
49.75
49.25

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/h8PDRo

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 04th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: the upside prevails.

Pivot: 1.1735

Our preference: long positions above 1.1735 with targets at 1.1780 & 1.1800 in extension.

Alternative scenario: below 1.1735 look for further downside with 1.1715 & 1.1695 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1.1825
1.1800
1.1780
1.1760 Last
1.1735
1.1715
1.1695

GBP/USD Intraday: under pressure.

Pivot: 1.3290

Our preference: short positions below 1.3290 with targets at 1.3230 & 1.3205 in extension.

Alternative scenario: above 1.3290 look for further upside with 1.3355 & 1.3400 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.3290.

Supports and resistances:
1.3400
1.3355
1.3290
1.3257 Last
1.3230
1.3205
1.3165

USD/JPY Intraday: the downside prevails.

Pivot: 112.95

Our preference: short positions below 112.95 with targets at 112.30 & 112.05 in extension.

Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.50
113.20
112.95
112.60 Last
112.30
112.05
111.80


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/7zbLUZ

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 04th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: the bias remains bullish.

Pivot: 0.7825

Our preference: long positions above 0.7825 with targets at 0.7875 & 0.7890 in extension.

Alternative scenario: below 0.7825 look for further downside with 0.7800 & 0.7785 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
0.7905
0.7890
0.7875
0.7850 Last
0.7825
0.7800
0.7785

Crude Oil‏ (WTI)‏ (X7) Intraday: capped by a negative trend line.

Pivot: 50.75

Our preference: short positions below 50.75 with targets at 49.75 & 49.25 in extension.

Alternative scenario: above 50.75 look for further upside with 51.30 & 51.75 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
51.75
51.30
50.75
50.12 Last
49.75
49.25
48.90

Gold spot Intraday: bullish bias above 1272.00.

Pivot: 1272.00

Our preference: long positions above 1272.00 with targets at 1281.00 & 1286.50 in extension.

Alternative scenario: below 1272.00 look for further downside with 1268.00 & 1262.00 as targets.

Comment: the RSI is supported by a rising trend line.

Supports and resistances:
1290.00
1286.50
1281.00
1275.90 Last
1272.00
1268.00
1262.00


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/7zbLUZ

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 05th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: continuation of the rebound.

Pivot: 1.1745

Our preference: long positions above 1.1745 with targets at 1.1800 & 1.1825 in extension.

Alternative scenario: below 1.1745 look for further downside with 1.1725 & 1.1695 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.1860
1.1825
1.1800
1.1774 Last
1.1745
1.1725
1.1695

GBP/USD Intraday: the downside prevails.

Pivot: 1.3250

Our preference: short positions below 1.3250 with targets at 1.3165 & 1.3115 in extension.

Alternative scenario: above 1.3250 look for further upside with 1.3290 & 1.3330 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.3330
1.3290
1.3250
1.3190 Last
1.3165
1.3115
1.3080

USD/JPY Intraday: turning down.

Pivot: 112.95

Our preference: short positions below 112.95 with targets at 112.30 & 112.05 in extension.

Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.50
113.20
112.95
112.59 Last
112.30
112.05
111.80



For more in depth Research & Analysis please visit FxGrow.https://goo.gl/UeKBzR

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 05th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: under pressure.

Pivot: 0.7855

Our preference: short positions below 0.7855 with targets at 0.7815 & 0.7800 in extension.

Alternative scenario: above 0.7855 look for further upside with 0.7870 & 0.7890 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
0.7890
0.7870
0.7855
0.7830 Last
0.7815
0.7800
0.7780

Crude Oil‏ (WTI)‏ (X7) Intraday: key resistance at 50.45.

Pivot: 50.45

Our preference: short positions below 50.45 with targets at 49.75 & 49.25 in extension.

Alternative scenario: above 50.45 look for further upside with 50.75 & 51.00 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
51.00
50.75
50.45
50.03 Last
49.75
49.25
48.85

Gold spot Intraday: rebound expected.

Pivot: 1270.50

Our preference: long positions above 1270.50 with targets at 1278.50 & 1282.50 in extension.

Alternative scenario: below 1270.50 look for further downside with 1268.00 & 1265.00 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1286.50
1282.50
1278.50
1275.20 Last
1270.50
1268.00
1265.00


For more in depth Research & Analysis please visit FxGrow.https://goo.gl/UeKBzR

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 10th October, 2017
By FxGrow Research & Analysis Team

GBP/USD Surpasses 50-EMA Over Upbeat Manufacturing Production Data

GBP/USD extends the recovery for the third consecutive session rallying from 1.3027 low on Friday, clocking 1.3198 high today after receiving a positive push by Manufacturing Production at 0.4% while expectations placed at 0.2%. On the other hand, the U.S Dollar continues to show weakness since Friday, dipping to to 93.21 low today, giving the Pound a wilder tone.

Technical Overview GBP/USD

Closing Price: (1.3140)

Target: 1.2956?

Resistance levels: 1.3168, 1.3220, 1.3290*

Support levels: 1.3130, 1.3027-, 1.2986

Trend: Down

Trend Reversal Price: 1.3290

Comment The market is short term bearish and a close under 1.3130 warns for pressing selloffs to 12986. Monday's rebound may carry over into today, but any corrections contained within last Thursday's range for 1-2 days should bear flag and keep the bear trend forces intact. A close over 1.3290* is needed for a short term bottoming turnaround.

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/UnpNU4

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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FxGrow Daily Technical Analysis – 11th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: further upside.

Pivot: 1.1785

Our preference: long positions above 1.1785 with targets at 1.1860 & 1.1890 in extension.

Alternative scenario: below 1.1785 look for further downside with 1.1760 & 1.1735 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.1915
1.1890
1.1860
1.1818 Last
1.1785
1.1760
1.1735

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.3175

Our preference: long positions above 1.3175 with targets at 1.3225 & 1.3260 in extension.

Alternative scenario: below 1.3175 look for further downside with 1.3130 & 1.3100 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.3290
1.3260
1.3225
1.3200 Last
1.3175
1.3130
1.3100

USD/JPY Intraday: the upside prevails.

Pivot: 112.20

Our preference: long positions above 112.20 with targets at 112.55 & 112.80 in extension.

Alternative scenario: below 112.20 look for further downside with 111.95 & 111.65 as targets.

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

Supports and resistances:
113.05
112.80
112.55
112.40 Last
112.20
111.95
111.65

For more in depth Research & Analysis please visit FxGrow.https://goo.gl/poiCN5

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.