FxGrow Daily Technical Analysis – 02nd Feb, 2016 By FxGrow Research & Analysis Team
OIL brent - near key level above support
In previous analysis I indicated target for upward movement 36.00, I wrote: "rebounds at OIL were usually dynamic so while the key levels weren't broken current movement should be seen as a correction. Key resistances are at levels: 36.00 (former support that stopped declines in December) and 42.50".
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 Daily Technical Analysis – 02nd Feb, 2016 By FxGrow Research & Analysis Team
EURUSD - another attempt of break above bearish regression channel
Demand on EURUSD definitely catched the wind. Since a week supply wasn't able to cross 1.0800 level, beside this last two days show constant upward movement. Currently price broke above bearish regression channel in which price moved since December 4.
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 Daily Technical Analysis – 03rd Feb, 2016 By FxGrow Research & Analysis Team
GBPUSD - Inside upward channel
After rebound on January from 6-years low, GBPUSD continues upward movement. Since two weeks it moves in bullish regression channel. Before new uptrend impulse occurs, it is likely that price will move to the lower limit of that channel (area 1.4200). Further upward movement should be continued - current rebound didn't reach even a basic Fibonacci 38,2% level (area 1.4520) of previous downward movement.
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 Daily Technical Analysis – 03rd Feb, 2016 By FxGrow Research & Analysis Team
NZDCAD - rebound after uptrend line test
NZDCAD looks very interesting. From September to December 2015 price moved in an uptrend. In the end of December correction occurred which continues till today. Downward movement took a shape of ABC simple correction and particular points can be marked already. There isn't perfect equal A = C, but other elements should help with further upward movement.
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 Daily Technical Analysis – 04th Feb, 2016 By FxGrow Research & Analysis Team
USDJPY - Sharp declines after completed reverse H&S pattern
Such technical price behaviour like last USDJPY movement can't be seen very often. First it formed reverse head and shoulders pattern and BoJ decision was an excuse for upward movement. Target for that movement coincides almost perfectly with reverse H&S potential target (it can be measured by range between the top of the head and neckline). USDJPY after reaching the target begun declines immediately and support at 118.80 didn't stop the price even for a moment.
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 Daily Technical Analysis – 04th Feb, 2016 By FxGrow Research & Analysis Team
GBPCAD - huge volatility after BoE decision
Today huge volatility occurred at currency pairs with GBP. It was caused by BoE decision on interest rates. That decision was consistent with forecasts which mean interest rates stayed at the same level. There were a hesitance on the market and just after decision GBPCAD sharply fell to the 1.9890 level and as quickly rebounded. That level was three months support. BoE statement was unequivocal from one side rates hike is possible and from the other lowered the forecast for inflation.
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 Daily Technical Analysis – 05th Feb, 2016 By FxGrow Research & Analysis Team
EURUSD - movement in 1.1500 direction, watch out on today's U.S. nonfarm payrolls
Roaring success of the bulls at EURUSD is in full swing. After broke above bearish regression channel price also broke resistances at 1.1050 and 1.1120. Next resistance is at 1.1350 however it looks like the goal for demand is at 1.1500. That level is the upper limit of big channel in which price moved since 12 months. Only once during last year that level was exceeded for two days.
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 Daily Technical Analysis – 05th Feb, 2016 By FxGrow Research & Analysis Team
GBPUSD - declines after U.S. nonfarm payrolls readings
After macroeconomic reading of U.S. nonfarm payrolls dollar strengthened. EURUSD and GBPUSD declined, but more interesting situation can be seen at GBPUSD. Nonfarm payrolls grew 151K in January, however that reading is almost 20% worse than the forecast. From the other side the unemployment rate edged down to 4.9% (what is also different from forecasts).
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 Daily Technical Analysis – 08th Feb, 2016 By FxGrow Research & Analysis Team
EUR/USD - technical analysis of popular major
In last Thursday we could spot an attempt to break the 1,1250 area, where at least two Fibonacci levels are located. First one is the 61.8% of 24th August bear move - price didn't really test it, but it was really close. Second resistance is a 100% level from the 100% pattern. Measuring the corrective move from 3rd of December we can draw the resistance line right in the place of reversal. This line was perfectly tested by the price and market reaction was perfect as well.
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 Daily Technical Analysis – 08th Feb, 2016 By FxGrow Research & Analysis Team
EUR/PLN – significant suport + weekly LONG signal
Single currency to Polish zloty moved above 4.3894 and 38.2% Fibonacci retracement (upward move from December lows) during few last session. Horizontal level had an important role at the end of 2014 – and now acts as the support. Monday’s session brings stronger reflection and move above 4.4300.
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.
