Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 07th Nov, 2016
By FxGrow Research & Analysis Team

US Election Market Trend Lookout

EUR/USD

Trend : Bearish

Support: S1 1.1025, S2 1.0937, S3 1.0821

Resistance : R1 1.1127, R2 1.1192, R3 1.1258


GBP/USD

Trend : Bearish

Support : S1 1.2334, S2 1,2116 , S3 1.1955

Resistance : R1 1.2562, R2 1.2687 , R3 1.2856

GOLD/ XAUUSD

Trend: bearish sideways

Support : S1 1281.72, S2 1262.47, S3 1241.57

Resistance : R1 1301, R2 1315.81, R3 1331.21

USD/MXN

Trend : bearish sideways

Support : S1 18.3419 , S2 17.9949, S3 17.7776

Resistance : R1 18.9566, R2 19.3217, R3 19.7810

USDJPY

Trend : bullish

Support: S1 103.25 , S2 102.42, S3 101.18

Resistance : R1 105.07. R2 105.90, R3 106.77

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 Fundamental Analysis – 07th Nov, 2016
By FxGrow Investment Research Desk

HOW TO TRADE THE US PRESIDENTIAL ELECTIONS?

The presidential US election is knocking on doors. On 8th of Nov, US citizens will have the final decision on whom shall lead the free world. Either Mrs. Clinton representing democrats will stay in white house, or Mr. Trump on behalf of republican will have the upper hand. Along comes questions and debates on US future performance, especially economic sector. Traders, analysts, and financial sectors have their eyes focused on possible outcomes incase either of Trump or Clinton win. Why is that? We will try to break it into simple, reasonable point of views and avoid complications and sophistications.

First, each candidate has his/her own agendas with major decisions on behalf of internal affairs, economic and private sectors, and foreign policy. Any decision can have major layout on economic sectors whether it’s direct or indirect, related on or not related to the economy, if not on the short run, then on the long run as a chain or reactions.

Second, each candidate has his/her own advantages and disadvantages.

Third, as we have mentioned in a previous article on FxGrow’s blog, Fed rate hike is inevitable no matter what, and as long as the US economy is growing and enhancing, the Fed rate increase will be postponed. Well now comes a new catalyst into the equation, the US election. In the article, we gave a hint that federal rates are to be increased in December, maybe that’s the reason why in December. Thus after the election and further data coming this month, US economy would show further signs on the election-economical-outcome, thus determining how far will federal officials go when it comes to increasing rates.

What will happen if Trump wins?

Donald Trump has repeatedly issued statements that are racist, Islamophobic, xenophobic and misogynistic. He constantly criminalizes people of color and has proposed banning Muslims from the country and enacting a deportation force. Analysts at Credit Suisse have downgraded their outlook for the dollar in 2016 and communicated the emergence of a potential new threat to the currency - Donald Trump could be the next big headache for dollar bulls in 2016. If Trump is elected and brings anti-social trading policies which isolate the country from the international community, foreign investors may start to sell their US assets in abundance. Trump drags a gray cloud along with the possibility of him being triumph when it comes to US dollar performance. Last week, US dollar started to show weak signals facing its rivals on US election suspense showing that Trump and Clinton are leading together.

Clinton on the other hand:

Analysts justifies the US dollar weaker movement in past days is that it’s only the election suspense itself, neither Trump, nor Clinton are the reason.

Since last week, US dollar index has tumbled from 99.09 high to 97.11 (today’s low). Gold, Japanese Yen, Canadian dollar, Aussie dollar, Kiwi, even Sterling has strengthen facing its US dollar rival. Forex market is highly volatile these days and expected to extend volatility until Election Day and after that briefly.

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 – 10th Nov, 2016
By FxGrow Research & Analysis Team

USD/JPY SHIFTS FROM YESTERDAY'S BEARISH MOOD AS US ELECTION ENDS

The US dollar suffered major losses yesterday facing it's rival Japanese Yen as the race for oval office between Trump and Clinton strengthened in the last hours. USD/JPY opened yesterday at 105.15, sank to 101.19 low, then rallied to 105.88 as trump was declared victorious. Trump made a speech with strong tone, sending massages between the lines as he promised to take the US economy into a better-stronger state erasing all the doubts and questions marks about his previous aroused signals. The greenback took over the Yen today's early trading sessions sending the USD/JPY to a higher price at 105.95 today, and US dollar index peeking to 98.50 after dropping to 95.91 yesterday. Right now, the pair is trading at 105.40 intraday with SMA 50 (104.13) , SMA 100 (106.93).

Daily Pp : 104.24

Trend : 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 – 11th Nov, 2016
By FxGrow Research & Analysis Team

GOLD SINKS BEATING TRUMP'S EXPECTATIONS BEING TRIUMPHED

US election is over with a major layout on yellow metal proving all analysts wrong as XAUUSD should peek if Trump would be victorious. Gold was supposed to peek beating 1330 handle and park in that zone but as soon as the white smoke came out of white house with a the new president, gold started tumbling dramatically reaching a low today 1251.19. The haven metal had a long journey before reaching this low level, first rallying from 1268.13 (low) on the election day clocking a new high for Nov at 1337.35, closing at 1277.58. Bearish momentum extended yesterday sinking to 1252.35 low, but before that the metal clocked a high at 1292.33.
On the other hand, US dollar index was moving totally opposite to gold's lows and highs starting on 9th with a low at 95.31 while gold was booming, then the index started a hike scoring a 99.08 yesterday while gold was soaring. Currently gold is trading at 1262.30 intraday as US dollar index trading at 98.66. Although gold started taking its breath, but still remains under pressure on strong dollar after Trump's strong speech. Gold SMA 100 (1269.58) , 50 SMA (1291.23).

Trend : bearish sideways

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 – 14th Nov, 2016
By FxGrow Research & Analysis Team

EURO SINKS DEEPER AS US DOLLAR STRENGTHEN, AWAITING DRAGHI SPEECH

EUR/USD slips down further more as US election seems to an end. The US Dollar index went bullish starting on Friday with a high at 99.13, opened today with an increase-gap 99.39, high 99.67, currently trading at 99.59 intraday, highest since March 2016. The EURO seems defenseless, and day by day weaker since Brexit, and US economy booming. Over all, the pair has dropped since US election on 9th Nov from 1.1299 high to 1.0772 today's low as Trump won the Presidential election. EUR/USD is significantly bearish, awaiting Mr. Draghi's appearance today scheduled at 3:00 PM GMT and what he holds magic solution for the EURO zone.

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 – 14th Nov, 2016
By FxGrow Research & Analysis Team

USD/JPY EXTENDS GAINS AS MARKET BEATS TRUMP SHOCKING WIN

The US Dollar opened trading sessions with a further pressure extension since last week, sending the USD/JPY to five months fresh highs 107.96.The Japanese yen weakens on higher US yields and as concerns over US trade policy vanished. The sell-off in global bonds could increase upward pressure on the BoJ’s 10-year JGB yield target at 0.00% encouraging speculation that the BOJ may have to accelerate purchases thus weighing on the yen as well. Add to that, strong US Dollar index beating 100 handle at 2016 new highs 100.03. The Japanese Yen remains under pressure by greenback and expected to extend gains in absence of root solution by BOJ governor Koruda.

Trend : 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 – 15th Nov, 2016
By FxGrow Research & Analysis Team

GBP/USD AGAIN UNDER PRESSURE, AWAITING LOCAL DATA

GBP/USD opened with a bullish trend, seemed to be recovering as the pair beat the 1.25 handle clocking a high at 1.2528 as US dollar index marched backward from yesterday's highs at 100.24 to 99.75 today's low. The pair failed to guard early gains with an inverted candle pin sinking to 1.2464 today's low. British Pound awaits local data today at 9:30 AM GMT as CPI y/y and PPI data will be released, then at inflation rate hearing at 10:00 AM GMT which might restore some confidence in the Sterling or keep it under under pressure.

Trend: Bearish Sideways

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 – 15th Nov, 2016
By FxGrow Research & Analysis Team

AUSTRALIAN DOLLAR STRENGTHEN AFTER HINTS OF POSITIVE ECONOMY, AWAITING RBA

AUD/USD opened early trading sessions with gains as RBA meeting minutes gave hints that Australian economy continues to grow at a moderate rate. The pair opened at 0.7552, rallied to 0.7580 high, then dropped to 0.7534 low, currently trading at 0.7553 intraday. The pair stands with heavy guard at 0.75 handle, not able to break it as US dollar index sinks 99.68 today's low. Governor Lowe, head of RBA, will make an appearance shortly at 9:15 AM GMT, where he'll lay out policy headlines.

Trend: Bullish sideways

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 – 17th Nov, 2016
By FxGrow Research & Analysis Team

SILVER DIGESTS WEDNESDAY'S GAINS, US DATA EYED

XAGUSD opened yesterday at 17.04 and took a hike clocking a high at 17.23, touching 200 SMA at 17.19, then failed to guard the 17 handle. The shiny metal started a bearish afterwards sinking to 16.87. US economy still growing with US dollar index peeking yesterday to new high's at 100.60, currently trading at 100.41 intraday. XAGUSD still remains under pressure as greenback is strengthening, and today US dollar strength will undergo a further test as US CPI report will be published.

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 – 17th Nov, 2016
By FxGrow Research & Analysis Team

GOLD PRICE SHIFTS UPWARD AS US DOLLAR EASED, AWAITING FURTHER US DATA

Gold hiked on Tuesday from 1218.90 low to 1231.64 high and closed at 1228.64. Yesterday, XAUUSD marched to a higher price scoring 1233.07, then plunged to 1221.50 low and closed at 1224.13. The yellow metal failed to soar and stay above 1230 level on strong US dollar especially after positive US retail sales data.. Add to that US dollar index peeked to a high new level yesterday at 100.60, currently trading at 100.19. With US dollar index drop, seems gold took the chance and surged 1229.78 high, currently trading at 1227.40 intraday. Traders have their eyes set on US data today with main focus on Core CPI and its result which will a better clue on how they will set their-ongoing-orders from XAUUSD. Gold at 200 SMA 1241.52, if price beats it, then look forward for next resistance levels.

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.