Daily Technical Analysis by FxGrow

[FxGrow Support]

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).

 

For more than a month price declined and two weeks ago rebound occurred. Current local high coincides with 50% Fibonacci retracement of previous downward movement. Last Wednesday bulls broke upper limit of bullish regression channel and today there is an attempt of return to its range. If price stays above 1.4500 first target for falls will be at 1.4400. Next goal for bears will be 1.4200 which is a lower limit of the channel. However if upward movement returns and price stays above 1.4500 nearest resistances will be at 1.4560, 1.4600.

 

Time-frame H4

http://s8.postimg.org/4suphilgl/2016_02_05_analysis_GBPUSD_H4.jpg

 

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 Support]

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.

 

Today we could spot some bulls price action, but it seems that local resistance at 1.1180 stopped the gains. At this moment bear market seems to be more probable.

 

http://i67.tinypic.com/p4tir.jpg

 

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 Support]

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.

http://i67.tinypic.com/2i6ko4l.jpg

 

Interesting signal and the distribution of significant support/resistance levels can be seen on the higher TF (weekly one). As you can see, the last W1 candle tried to test the strong resistance from December 2014 (now support), however the final closure took place definitely above it. As a result, demand pin bar candle appreciated, which may suggests a desire of upward moves continuation. Candle tested also 23.6% Fibo retracement (uptrend from April 2015 lows).

http://i67.tinypic.com/99kufq.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 09th Feb, 2016

By FxGrow Research & Analysis Team

 

EURGBP - highest since a year and test of important resistance

 

Since a mid-November EURGBP moved in an uptrend. Currently demand has a tough work to do, which is break above resistance at 0.7760. If it succeeds price should gain 250 pips and reach another resistance 0.8030. However if supply is stronger nearest supports will be located at levels: 0.7540, 0.7420.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-09_analysis_EURGBP-W1_zpsbjktoqno.jpg

 

Wider view, time-frame W1

To see the current strength of the resistance you should take a look at a weekly time-frame. That level was "in game" many times before (years: 2008, 2012, 2014) and made rebounds. Current attempt could be successful, but you shouldn't expect that it will be fast. It is likely that right now we will see a shallow rebound or a side trend below resistance.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-09_analysis_EURGBP-D1_zps02lept8n.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 09th Feb, 2016

By FxGrow Research & Analysis Team

 

USDJPY - new week, new low

 

There is a black scenario in game at USDJPY and today price reached 14-months low. It have to be noted that such scenario was indicated in the last week's analysis. I wrote: "Currently price should continue previous declines. Nearest support is at 116.70 but even this year's low at 116.10 could be tested".

 

Demand is weak and support at 116.10 wasn't defended. Nearest supports are at 114.00, 112.30. However it is likely that even support at 109.80 may be tested. Chance for a demand is dynamic rebound and return above 116.10 which is currently unlikely.

 

Time-frame D1

http://i66.tinypic.com/k4tono.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 10th Feb, 2016

By FxGrow Research & Analysis Team

 

AUDCAD - rebound from support near 0.9730

 

Since the beginning of January AUDCAD moved down. In this particular time support at area 0.9820 - 0.9840 stopped declines. Yesterday this support was broken below and price sharply fell 100 pips reaching 0.9730. Support at 0.9730 is very strong, it can be seen at weekly TF. Price rebounded at indicated level and upward movement continues today.

 

Currently there is attempt of return above area 0.9820 - 0.9840 and according to the rule of poles changing it is now resistance. If demand breaks above next target for upward movement will be 0.9970. However if supply wins and price falls below 0.9820, nearest target for falls will be at 0.9730.

 

Time-frame H4

http://i64.tinypic.com/2hrid5f.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 10th Feb, 2016

By FxGrow Research & Analysis Team

 

Oil brent at support 30.50

 

Rebound which lasted 10 days is now only a memory and oil returned to downtrend. So far price stayed above 30.00 level however there isn't any optimistic sign for the bulls. It is likely that side trend between 27.30 and 36.10 will be continued. In this area price moved since a month.

 

If supply breaks below support, nearest target for falls will be 29.30, but a great battle of demand and supply will take place at 27.30. Alternatively if demand defends that support next resistances will be located at levels: 32.30, 33.50, 34.60, 36.10.

 

Time-frame H1

http://i68.tinypic.com/316rgbl.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 11th Feb, 2016

By FxGrow Research & Analysis Team

 

EURUSD - highest since October 2015

 

During semi-annual congressional testimony Janet Yellen wasn't dovish enough, she said: "The FOMC anticipates that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate".

 

EURUSD fell only for a moment and tested support 1.1160. But price sharply returned to daily's high and today demand continues upward movement testing 1.1350 level. Nearest resistance is at 1.1380 but it is likely that rebound will occur at 1.1490. Price moves between 1.1490, 1.0520 since more than a year. However if rebound occur faster nearest supports are located at: 1.1160, 1.1100.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-11_analiza_EURUSD-H1_zpsac3pdn4p.jpg

 

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-11_analiza_EURUSD-D1_zpssxhfrjux.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 11th Feb, 2016

By FxGrow Research & Analysis Team

 

USDCAD - bulls are back, but a flag pattern suggests that the falls are not finished

 

After correction of 50% previous upward movement, at the chart occurred a candle with long bottom shadow. Such price action candles predict rebound. So it happened and for a week upward movement continues. However there is one concern. At time-frame H4 price formed flag pattern in a direction opposite to the previous movement (blue on the chart). Flag pattern like that usually is break below and it is likely that previous downward movement will be continues. Scenario of downward movement may be connected with test of uptrend line (orange on the chart).

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-11_analiza_USDCAD-H4_zpsduxshs94.jpg

 

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-11_analiza_USDCAD-D1_zps2dx8xnxk.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 12th Feb, 2016

By FxGrow Research & Analysis Team

 

USDJPY - after 9 days of declines there is a hope for a rebound

 

Previous AUDJPY analysis was very profitable. I indicated flag pattern and direction of breakout. I wrote: 'Flag is a pattern of trend continuation which means that price should break below lower limit of the flag according to a main downtrend'. As you can see breakout occurred and price sharply moved down. After rebound, since mid-January decline continues and yesterday price tested support at 77.60.

 

Right now rebound should also occur - in last 9 days price declined without one day of stronger break. Yesterday's daily candle with long bottom shadow gives a hope that rebound will start right now. Nearest supports are at 79.60, 77.70, 74.80. Nearest resistances are located at 82.20, 83.60, 84.70, 85.60.

 

Time- frame D1

http://i67.tinypic.com/fabr81.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 12th Feb, 2016

By FxGrow Research & Analysis Team

 

EURCAD - correction should occur

 

Macroeconomic data from US caused sharp downward movement at EURCAD. Rebound occurred when price moved above 1.5580 area which is nearest support. US retail sales were better than forecasted. Similar price reaction occurred at EURUSD.

 

In a longer term EURCAD moved in an uptrend and in mid-January there were correction that reached 50% of previous upward movement. New upward impulse is very dynamic and since last 9 days there was only 1 session of declines. It is likely that currently downward movement should occur but in a long term uptrend should continue. Nearest resistance is at 1.5950, supports are located at: 1.5580, 1.5430, 1.5240.

 

Time-frame M30

http://i68.tinypic.com/72wuo5.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 13th Feb, 2016

By FxGrow Research & Analysis Team

 

EURUSD - movement towards 1.1160 support

 

Supply at EURUSD took over control after Thursday's test of resistance at 1.1380. First support at 1.1320 wasn't able to stop decline and today for the first minutes of trading downward movement is continuing. Nearest support is at 1.1160 but if it breaks stronger support will be located at 1.1100. One of that levels should make rebound.

 

There will be not many macroeconomic data in next few days that could increase volatility at EURUSD. Next important data will be protocols of last FOMC meeting. So-called FOMC minutes will be published on Thursday

 

Time-frame M30

http://i63.tinypic.com/fd4vn8.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 15th Feb, 2016

By FxGrow Research & Analysis Team

 

USDJPY - sharp return above 114.00

 

In previous analysis from February 9 I indicated weakness of the bulls at USDJPY and possibility of price movement towards 109.80. I wrote: 'Demand is weak and support at 116.10 wasn't defended. Nearest supports are at 114.00, 112.30. However it is likely that even support at 109.80 may be tested'.

 

Indeed price fell below support 112.30, however rebound occurred earlier at 111.00. Demand's reaction was strong and price returned sharply above 112.30. Today price is continuing upward movement and resistance at 114.00 was broken. Target for current upward movement is at 116.10. Return above 116.10 will be a bullish signal, but rebound from that level will give better chance for the bears.

 

Time-frame D1

http://i67.tinypic.com/2ikco60.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 16th Feb, 2016

By FxGrow Research & Analysis Team

 

AUDNZD - side trend, since more than two months

 

In Friday 1.0560 are caused price rebound. It took place third time during six months period. Currently 1.0930 level should be tested. Since more than two months AUDNZD moves in side trend between above mentioned levels. Another attempts of breakout finished faster with rebound.

 

This is interesting trading opportunity. Right now we should watch 1.0930 level and look for trend reversal signals, when price will reach there. Another closer located highs and lows indicate that AUDNZD forms triangle pattern. It has to be noted that breaking one of that levels will begin new trend impulse accordant with direction of the breakout.

 

Time-frame H4

http://i68.tinypic.com/1zlu71c.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 16th Feb, 2016

By FxGrow Research & Analysis Team

 

EURGBP - bulls offensive in progress

 

EURGBP moves in uptrend since lows from November 2015. Upward movement is very dynamic. Corrections which occurred during this period retraced only 23.6% of main trend. Struggle between demand and supply can be seen at 0.7760 - 0.7800. Because it lasts since a week it shows the determination of the bulls and the strength of that level. It can be found at weekly TF how important that level was in the past.

 

It is likely that this level won't break and rebound will occur. Nearest support is at 0.7700 however more important level were potential declines should reach is 0.7540. This level coincides with Fibonacci 38.2% of previous upward movement. Alternatively if bulls are strong enough next resistances will be at 0.7900, 0.8030.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-16_analiza_EURGBP-H1_zps15ps2b7n.jpg

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-16_analiza_EURGBP-W1_zpsbzxhgd5t.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 17th Feb, 2016

By FxGrow Research & Analysis Team

 

GBPUSD returned to declines, after short correction

 

Previous GBPUSD analysis gave almost 300 pips profit. I wrote: "If price stays above 1.4500 first target for falls will be at 1.4400. Next goal for bears will be 1.4200". First indicated level was reached very fast and second level could be tested today. Current chart pattern supports declines.

 

After downward movement which lasted since December 11 to January 21 rebound occurred. Corrections which occurred after this period retraced 50% of previous declines. Price returned to main trend and yesterday support at 1.4380 was broken below. Today GBPUSD continues downward movement, nearest supports are located at 1.4200, 1.4080. When that last level will be broken (January 2016 low) next important levels are located at: 1.3720, 1.3500 (2009 historical low).

 

Time-frame H4

http://i68.tinypic.com/2ppbq4h.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 18th Feb, 2016

By FxGrow Research & Analysis Team

 

EURUSD - above support 1.1100, movement towards 1.1380 possible

 

Since a week EURUSD continues downward movement. Yesterday better than forecasted macro data were published - the US Producer Price Index. The second macro data was FOMC minutes. Investors didn't see nothing new in FOMC protocol and it was confirmed by lack of volatility at EUR/USD. Officials stressed timing of hikes would depend on data.

 

EURUSD tested support at 1.1100 and for the third day in a row it moves below 1.1180 - 1.1100. It is likely that rebound may occur, follow by movement towards 1.1380. However if supply breaks above 1.1100 level declines will continue to 1.1020 and then to 1.0930.

 

Time-frame H1:

http://i66.tinypic.com/5l8ktu.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 18th Feb, 2016

By FxGrow Research & Analysis Team

 

GBPAUD - rebound from support at 1.9900

 

Since a half year GBPAUD moved in a downtrend. Price moves inside bearish regression channel and its upper band wasn't tested since early November. Yesterday price reached important support 1.9900 and today bullish rebound occurred. You shouldn't see this as trend reversal, but it is likely that some upward movement will occur and it should reach at least 2.0640.

 

However, if current support breaks, another equally strong support is at 1.9000. If today's upward movement will be continued targets for bulls should be located at 2.0640, 2.0860. Only break above last indicated level will be a signal that downtrend was finished.

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-18_analiza_GBPAUD-D1_zpsjweorq6j.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 19th Feb, 2016

By FxGrow Research & Analysis Team

 

EURSEK – sharp rebound from resistance

EURSEK moved in uptrend since the year beginning. Last week price rebounded sharply after testing the resistance at 9.6100 . Yesterday huge downward candle reached two weeks low. Nearest supports are located at: 9.3600, 9.3040, 9.2550. If rebound occurs and demand maintains its strength nearest resistances will be located at: 9.4220, 9.5000, 9.6100.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-19_analiza_EURSEK-D1_zpsov86a8d2.jpg

 

Wider view, time-frame W1

Since 2012 EURSEK moved in uptrend, it was finished at the beginning of 2015. Currently there aren't any new highs or lows so since one year price is moving in consolidation. In this period EURSEK is forming triangle pattern. In a long term it is likely that price will be moving between levels: 9.1400, 9.6100. Breaking one of that levels will show further movement direction.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-19_analiza_EURSEK-W1_zpsea1o7ti0.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 19th Feb, 2016

By FxGrow Research & Analysis Team

 

EURJPY - lowest since mid-2013

Yesterday EURJPY broke below support at 126.00 level and continues downward movement. Nearest support at area 125.00 was tested. Currently it is likely that price will rebound to 126.10 and return to declines. Alternatively if bulls will be as weak as so far new low may occur without any correction.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-19_analiza_EURJPY-H4_zpshdzqssi1.jpg

 

 

Wider view time-frame W1

In long term, uptrend at EURJPY looks like finished. After last high in December 2014 price falls and new lows occurred. While price is below 127.30 it is likely that declines will proceed. Next strong support at W1 TF could be found at 122.90.

 

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-19_analiza_EURJPY-W1_zpszslelorf.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 22nd Feb, 2016

By FxGrow Research & Analysis Team

 

GBPNZD - broke below support at 2.1500

 

Today price broke below support at 2.1500, and now is continuing its declines. After almost vertical upward movement which lasted between April - August 2015 currently almost all bullish moves has been corrected. Today support was broken (it stopped declines for 2 months) and right now there is a clear path for bears to test 2.0800

 

At 2.0800 level support coincides with equal A=C. Before that test, rebound to 2.1500 and test from the bottom may occur.

 

Time-frame D1

http://i63.tinypic.com/20z7n1t.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 22nd Feb, 2016

By FxGrow Research & Analysis Team

 

USDCHF – appreciation of the dollar pushes the price towards resistance

 

The currency pair USD CHF been declining since the beginning of February, a dynamic drop led to a break of the trend line conducted since the one-day landslide associated with the release of the EURCHF exchange rate, as well as support around the 0.9797 level.

 

Price now rebounded from the low which was formed in the second week of February, near the 0.9700 level. Strong growth, interrupted only one downward day today are continued and gaining pushes dollar price to the resistance, which now provides previously broken trend line. If the bullish movement is to be continued, bulls should effectively break resistance and then may re-test this year’s highs. However, if the bears take control, it is likely to return back to support at 0.9797.

 

http://i64.tinypic.com/2gx1bfa.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 23rd Feb, 2016

By FxGrow Research & Analysis Team

 

EURUSD - nearest supply target 1.0980, support at 1.1100 was broke below

 

In the last Wednesday there were an attempt of breaking below support 1.1100, it hasn't succeed and price moved around that region. At last support was broken yesterday and today EURUSD is continuing its declines.

 

Small rebound occurred at equal 1.1000 level, however more important support is located at 1.0980. It is likely that bigger rebound will occur at 1.0980. It have to be noted that declines are continuing since almost two weeks without any correction. During this time price fell 370 pips. If indicated level also breaks next important support will be located at 1.0810.

 

http://i65.tinypic.com/15i0ldj.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 23rd Feb, 2016

By FxGrow Research & Analysis Team

 

GBPCAD - new 8-months low

 

Last week's analysis was profitable for traders. I wrote: "current goal for bears is 1.9480 level" and "if price tests 1.9480 level, rebound will occur. After rebound resistances are at levels: 1.9730, 1.9890".

 

In fact price moved 20 pips above indicated level and rebound occurred. Upward movement finished at level 1.9830. Monday begun with a sharp falls and support at 1.9480 didn't cause demand reaction. Next supports are located at 1.9280, 1.8970. Currently it is likely that 1.9480 level will be tested from the bottom and if demand is still weak new wave of falls will occur after that test.

 

Time-frame D1

http://i65.tinypic.com/14ugght.jpg

 

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 Support]

FxGrow Daily Technical Analysis – 24th Feb, 2016

By FxGrow Research & Analysis Team

 

EURAUD - support at 1.5270 was defended so far

EURAUD is at the interesting level. Price already reached support at 1.5270 and that level was in game many times since December 2014. Yesterday rebound occurred, but right now it is indicating demand's weakness. If supply breaks this level next supports will be located at 1.5000, 1.4880. However if rebound is successful nearest resistance will be located at 1.5480.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-24_analiza_EURAUD-H4_zpswahgtrgv.jpg

 

Wider-view, time frame W1

Since August 2012 EURAUD moves in uptrend, inside Bullish regression channel. Right now price is in a middle of that channel. You can’t rule out new lows, however direction of the main trend and support's proximity indicate that in a mid-term upward movement should be continued.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-24_analiza_EURAUD-W1_zpsz1uaqzim.jpg

 

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.