Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 26th Oct, 2016
By FxGrow Research & Analysis Team

AUD/USD HIKES IN RESPONSE TO POSITIVE CPI DATA

The AUD/USD kept it's strong tone and extended gains since Monday lead by upbeat Australian CPI report 0.7% q/q and negative US consumer confidence 98.6 yesterday. As a result, the pair rallied from 0.7628 and scored a high at 0.7708, currently trading at 0.7697 intraday. the Australian Dollar strengthen on stronger data giving signs that the Reserve Bank of Australia is not going to cut rates on their next meeting. The pair awaits tomorrow's US data and next week RBA meeting which will either strengthen the US dollar or the Aussie will stay bullish depending on the outcome.

Trend: bullish

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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 – 27th Oct, 2016
By FxGrow Research & Analysis Team

GOLD REMAINS UNDER PRESSURE ALTHOUGH IT IS TRADING SHORT-TERM UPSWING

Although we have witnessed a slight increase in gold spot price, it's remains under pressure by US dollar control. XAUUSD rallied on Tuesday from 1262.11 low and clocked a high 1276.7 after negative US consumer confidence. On yesterday trading sessions, gold couldn't keep it's short upswing gains but decreased again to touch 1264.69 from below as US dollar index peeked to 99.09. Today US dollar index sank to 98.61 and gold took a slight break rising to 1269.04 intraday, near it's daily pivot but still under pressure awaiting further central banks decision in the coming period.

Trend: bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 28th Oct, 2016
By FxGrow Research & Analysis Team

THE EUR/USD CLIMBS AT A SLOW RATE AS ECB EASING MEASURES FADED

EUR/USD started a bullish trend at a slow pace in respond to neutral US economic report yesterday. The pair rallied today from 1.0829 low and clocked a high 1.0924 in response to positive EU data especially German CPI givig signs that tthe ECB is not going to ease its policy at these times. In addition, US dollar index dropped from yesterday high 99.0 to today's low 98.74, currently trading at 98.80. Although EUR/USD trend is short-term-upswing, the pair remains under pressure by strong greenback.

Trend: Bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 01st Nov, 2016
By FxGrow Research & Analysis Team

GBP/USD MAKES SLIGHT RECOVERY BUT REMAINS UNDER PRESSURE, AWAITING GBP PMI

GBP/USD started an uptrend rise since yesterday as Carney's accepted to extend his duties as head of BOE. The US dollar index remains on track but touches 98.31 low yesterday as US data failed to meet expectations awaiting US elections. The pair opened today at 1.2233, sank to 1.2210 low, then recovered and took a hawkish mood clocking a high at 1.2244, currently trading at 1.2226 intraday. GBP/USD still remains under pressure on strong US economy but it's currently stable trading above it's Daily Pp .12212. Today, the Pound undergoes a test where it might have the chance to extend it's further recovery as GBP PMI data awaits.

Trend: Bearish with short-term-upswing.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 01st Nov, 2016
By FxGrow Research & Analysis Team

AUD/USD RESPONDS POSITIVELY TO RBA AND TO STRONG CHINESE DATA

The Aussie dollar opened with a strong tone as RBA decided to leave the cash rate unchanged at 1.5% since the Australian economy is growing at the moment and labor conditions has improved as the RBA's latest release suggested. Add to that, positive Chinese PMI data at 51.2 early this morning, both energized AUD/USD bullish trend rallying from 0.7597 (today's low), to touch 0.7672 high (75 pips). AUD/USD is expected to continue is hawkish trend today, awaiting US PMI at 2 PM GMT which will give a better outlook if the Aussie dollar will continue it's strong tone or submit to the greenback depending on the outcome.

Trend : Bullish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 01st Nov, 2016
By FxGrow Research & Analysis Team

Global Markets are Dismissing US Political Developments Ahead of Election Results

The IBD/TIPP poll shows that Clinton is leading in the Northeast with Trump polling higher in the South. However, Real Clear politics revealed that ‘national polls’ gave Trump the lead about 48% vs. 43% for Clinton. But Trump was rude in the second debate and the worst thing he did is that he was aggressive with women giving a 20 points lead to Clinton.

The second debate between Trump and Clinton send the Mexican Peso higher as the survey declared that Clinton wins. Then the Mexican Peso dropped when trump was at the top of the polls.


Biotech stocks have been sluggish on Clinton who is expected to be tough on drug pricing if she wins the presidential election. Anyways, global Stocks closed lower on rising uncertainties over US elections especially after FBI investigation.

The US Dollars had surged about 2.5% on election suspense Knowing that Clinton have passed Trump by 3% and at the same time on rising expectations of a Fed rate hike in December. The US Dollar then slipped from highs as FBI investigation on Hillary Clinton private emails weighed on the US presidential election. In addition, some analysts claimed that if Trump wins the election, the US economy will face uncertainties and thus the dollar might face severe losses.

The Japanese Yen will benefit the most from the US elections knowing that it is a safe haven currency. Moreover, gold which is known as the safe haven metal will play a big role into the elections as uncertainties rises. Gold rose lately as the FBI obtained a warrant to investigate on Hillary Clinton use of private email system knowing that the email is not illegal but could cause damage to the law enforcement agency as they revealed.

The RCP polling showed lately that Clinton lead five percent over Trump until this moment.

Americans will vote on 8 November to choose their next president but any unexpected outcome will force the Federal Reserve to change their decision regarding interest rate hike this year.


For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-education/fxgrow-academia/fxgrow-blog

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 Nov, 2016
By FxGrow Research & Analysis Team

JAPANESE YEN STRENGTHEN AFTER BOJ'S KURODA STRONG, AGGRESSIVE TONE

USD/JPY extended it's bearish momentum since yesterday after US data failed to meet expectations and US index dropping to 97.62 low yesterday.

Kuroda, head of BOJ, appeared with strong bold tone committing to the program until price target is reached. Key Quotes:

“Thinking over buying of local, municipal debt but not easy task”

“Hard task to try to score direct hit of 2% inflation target”

“Board will continue with ‘aggressive, bold easing’ until price target reached”

Add to that US election suspense, gave the Japanese Yen a break from strong US dollar control over the last week after reaching highs 105.53 on 28th of Oct. Right now, USD/JPY is trading at 103.78, after dropping to 103.62 low. Even though USD/JPY seems in bearish mood, but the US dollar keeps the pace as today FOMC are scheduled at 6 PM GMT as final statement.

Trend: sideways Bullish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-education/fxgrow-academia/fxgrow-blog

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 Nov, 2016
By FxGrow Research & Analysis Team

OIL PRICES SANK ON EXPECTATIONS OF AN INCREASE IN US CRUDE INVENTORIES

Chances of success for the effort to curb global oil supply are getting thinner by the day. OPEC members have a rift on share cut distribution already, add to that inviting new members like Iran, Iraq, Nigeria, and lately Russia made things worse in terms for assigning production. Iran and Iraq wants to be excused from the party, and Russia is giving vague signals on OPEC-final-deal decisions. Then there’s Brazil, whose Oil and Gas Secretary this weekend delivered yet another blow to the cartel that once held the reins to the global oil price trends. Over the week, Marcio Felix told media in Vienna that “Yes, the Brazilian production is increasing… I do not have the exact figures, but the production in Brazil will grow in the next few years, we have such plans.” Felix attended a meeting between OPEC and a number of non-OPEC producers, but as the minister noted, only “as observers”. This wasn’t OPEC’s goal, however. OPEC wanted to convince external producers to take part in the freeze/cut, to make it more meaningful. That effort failed.


The atmosphere surrounding crude oil price suggests that prices to be expected to extend losses with no OPEC-cut-deal on the horizon and US efforts seeking lower price suggests that US hopes may come true after all today depending on their crude oil inventories at 2:30 PM GMT.

Trend : bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-education/fxgrow-academia/fxgrow-blog

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 Nov, 2016
By FxGrow Research & Analysis Team

BRITISH POUND HIKES ON BOE OPTIMISTIC DATA

Eurozone clutches with Sterling and refuse to set Britan free one and for all before triggering article 50. BOE tone was stronger than expected as they shifted from easing to neutral bias claiming that a respond in either direction is optional as they see fit since economic data has been significant to the Brexit uncertainties while the steep GBP depreciation means that CPI inflation will increase sharply next year.

Although the sterling surged higher yesterday rallying from 1.2296 low and clocked high 1.2494, currently swinging between 1.2449 low and 1.2481 high. GBP/USD trend remains bearish, and seems to be in desperate push today as US Payroll and unemployment rate data are scheduled to be released at 12:30 PM GMT. GBP/USD SMA 100 (1.2326 H4), SMA 100 (1.2671) at H4

Trend: Bearish sideways
First resistance R1 1.2503. R2 1.2561, R31.2616
First support: S1 1.2415, S2 1.2358, S3 1.2287

Remark: Even though GBP/USD took a bullish trend it's still considered Bearish between S1 and R1 in absence of news but high volatility is expected to kick shortly before US elections.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-education/fxgrow-academia/fxgrow-blog

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 Nov, 2016
By FxGrow Research & Analysis Team

SILVER SHIFTS TO BULLISH TONE AHEAD OF US ELECTION

After being bearish all through Oct, Silvers opens Nov with bullish momentum and steadily starts climbing above 18 zone as US dollar index sinks 97.07 low yesterday. Seems XAGUSD slipping from US dollar grip as the shiny metal hits fresh highs 18.74 on Wednesday. add to that, yesterday negative US unemployment claims build a stronger base for silver not to drop below-clinching above 18.00 level. Currently trading at 18.36 with SMA 100 17.61, SMA 200 17.13 , SMA 50 18.53.

Trend: Bullish sideways

Key levels to watch : Daily Pp 18.21

First resistance : R1 18.48, R2 18.75, R3 19.08

First Support: S1 17.99, S2 17.73, S3 17.31

Remark: Although general trend is bullish, but a slight shift backward should be included specially on US election suspense on the horizon 8th Nov

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-education/fxgrow-academia/fxgrow-blog

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.