Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 24th Feb, 2016

By FxGrow Research & Analysis Team

 

GBPUSD - forecast of brexit plunges the bulls

 

This week is a bulls' nightmare. Since Monday we observe fall at GBP/USD, despite the recommendations of British Prime Minister David Cameron. He will be urging to stay in the E.U.

 

Support at area 1.4080 was broken and now there is an open road to the next support at 1.3720. Downtrend is so strong that even test of 1.3500 is likely (which is low from 2009). Emotions are currently ruling on the market, so any positive information from the U.K. can cause equally dynamic rebound. Nearest resistance is at 1.4080.

 

Time-frame H4:

http://i66.tinypic.com/200xl06.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 – 25th Feb, 2016

By FxGrow Research & Analysis Team

 

EURJPY - PIN BAR candle on the support

 

In accordance to the last week analysis declines were continued to indicated support. I wrote: "It is likely that declines will proceed. Next strong support at W1 TF could be found at 122.90".

 

Yesterday price rebounded and upward PIN BAR candle occurred (visible on D1 time-frame). Now upward movement should be continued, minimum range after rebound is at 126.10 and there will be two scenarios. Price may rebound and new wave of declines will start. At the chart it will be a re-test from the bottom of strong support which currently will be a new resistance. Second scenario forecasts return above 126.10 and denial of last breakout.

 

Time-frame H4:

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-25_analiza_EURJPY-H4_zpsp98p7yom.jpg

 

Time-frame D1:

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-25_analiza_EURJPY-D1_zpsm7sm7uf2.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 – 25th Feb, 2016

By FxGrow Research & Analysis Team

 

EURUSD - support at 1.0980 stopped declines, it is likely that 1.1100 will be tested

 

Declines at EURUSD were stopped by support at 1.0980. At this level you can clearly see the support reaction. Now area 1.1100 should be tested and there we will see in which direction price wants to move in the nearest future. Return above 1.1100 will lead price to last high at 1.1380.

 

Before that, demand must break above two weak resistances 1.1160, 1.1230. Alternatively if price falls, initial target for declines is located at 1.0980 and next equally strong is located at 1.0810.

 

Time-frame H1

http://i68.tinypic.com/o0qg48.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 – 26th Feb, 2016

By FxGrow Research & Analysis Team

 

USDCAD - 1.3670 support broke, potential 300 pips decline

 

Yesterday USDCAD broke below support which has been stopping declines since the beginning of February. Nearest target for falls is located at 1.3420. If rebound occurs at indicated level nearest important resistance will be at 1.3670. Despite the current declines it's too early to talk about new down trend which I will show at weekly time-frame.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-26_analiza_USDCAD-H4_zpsetwaqswe.jpg

 

Wider view, time-frame W1

Since 2011 USDCAD moved in uptrend and now 300 pips left to test the uptrend line. That line can be found currently near 1.3200 and only break below that level will be a strong signal of trend reversal.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-26_analiza_USDCAD-W1_zpsukvy1qfp.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 – 26th Feb, 2016

By FxGrow Research & Analysis Team

 

USDJPY - dollar appreciated after macroeconomic data

After Friday’s macroeconomic data (US GDP) publication dollar sharply appreciated versus other currencies. EURUSD dynamically reached support at 1.0980 and USDJPY tested resistance at 113.35.

 

Situation at USDJPY is very interesting because after double bottom pattern, current upward movement began. Nearest resistances are at levels: 113.35, 114.50, 116.10.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-26_analiza_USDJPY-H1_zpslxgs0lbm.jpg

 

 

Wider view, time-frame D1

However in a long term current rebound should be seen just as a correction. After side trend which lasted more than a year since the beginning of February there is a clear downtrend at USDJPY. If we want to think about trend reversal price has to return above 116.10 level.

http://i1148.photobucket.com/albums/o568/onestore40/2016-02-26_analiza_USDJPY-D1_zpslaclcw3y.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 – 29th Feb, 2016

By FxGrow Research & Analysis Team

 

GBPNZD - demand reaction at very interesting level

 

Last week analysis was profitable. I wrote: "Today support was broken (it stopped declines for 2 months) and right now there is a clear path for bears to test 2.0800". In the area 2.0800 there is an equal A=B of current correction. This level is strengthened by important support.

 

A little lower at 2.0600 there is Fibonacci 78.6% of previous upward movement which lasted from April to August 2015. Nearest resistances are at levels: 2.1510, 2.2430, 2.3300 and price is reaching there. Support is located at area 2.0800 - 2.0600.

 

Time-frame D1

http://i66.tinypic.com/f9mip.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 – 29th Feb, 2016

By FxGrow Research & Analysis Team

 

AUDCAD - reached lower limit of bearish channel

 

Friday brought huge selloff at AUDCAD. Falls ranging almost 200 pips during just one session certainly isn't a common picture. Bears broke three important supports 0.9820, 0.9730, 0.9650. Today's rebound started by bulls finished with a long upper shadow on the chart.

 

Potential test of channel lower limit gives a change for a rebound. Support located at area 0.9600 - 0.9650 may also help with the rebound move. However any upward movement should be treated as correction. Nearest resistances are located at levels: 0.9650, 0.9730, 0.9820.

 

http://i63.tinypic.com/2cesn0p.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 – 01st March, 2016

By FxGrow Research & Analysis Team

 

EURUSD - on the way to 1.0810

 

On last Friday price broke below support at 1.0980 and downward movement is continuing. Period of low volatility at EURUSD should has been already finished, because in next three weeks there will be important macro events which should cause higher volatility (US non-farm payrolls, ECB meeting, FED meeting).

 

Nearest target for supply is 1.0810 and currently that level should be tested. At that level rebound should occur and targets for that movement are located at: 1.0980, 1.1100. If EURUSD continues declines next supports will be located at: 1.0710, 1.0520.

 

http://i64.tinypic.com/a5byg3.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 – 01st March, 2016

By FxGrow Research & Analysis Team

 

EURCAD - 80 pips left to important support

 

Downward movement at EURCAD is continuing after broke below support in last week. It is likely that today's session will bring fifth downward candle in a row. Supply should test 1.4520 area, where price need only 80 pips to achieve that level. That level is the nearest strong support and 40 pips lower there is a 78.6% Fibonacci retracement of previous upward movement.

 

You can't expect that this level will make trend reversal but at least some rebound should occur. Next strong support is located at 1.4050 and nearest resistance is at 1.4830.

 

Time-frame H4

http://i68.tinypic.com/6yjk08.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 – 02nd March, 2016

By FxGrow Research & Analysis Team

 

EURAUD - lowest since two months

 

Declines accelerated after EURAUD broke below support at 1.5270. Today price tested next support at 1.5000, but currently there are no signs that declines may end. Next weak supports are located at: 1.4890, 1.4730. Nearest strong support is 600 pips below current level at 1.4400.

 

At similar level there is lower limit of bearish channel (visible at time-frame W1), in which price moves since more than 3 years.

 

Obviously because of the wide time-frame it can't be indicated precisely, but few supports in area 1.4400 - 1.4300 should cause strong rebound.

 

http://i65.tinypic.com/2ij6zva.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 – 03rd March, 2016

By FxGrow Research & Analysis Team

 

GBPUSD - upward movement reached first resistance

 

After huge selloff during last week, GBPUSD reached 1.3850 support. At this area we observe lows from 2009 and since the beginning of current week area caused a rebound. The goal for market demand side won't be easy because price is in downtrend, however after so big selloff rebound's range might be big.

 

Currently price reached first resistance at 1.4080 and bulls aren't giving up. Next resistance is located at 1.4200 but really significant level is located at 1.4400.

 

http://i68.tinypic.com/2sb37te.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 – 03rd March, 2016

By FxGrow Research & Analysis Team

 

AUDCAD - dynamic rebound from lower limit of a bearish channel

 

Monday's analysis was very profitable. Rebound that occurred was much faster and more dynamic than it was expected after last weeks' weakness of demand. I wrote on Monday: 'Potential test of channel lower limit gives a chance for a rebound. Support located at area 0.9600 - 0.9650 may also help with the rebound move'.

 

Demand broke above levels 0.7930 and 0.9820 with equal ease, like in previous week supply done it in different direction. Right now it has to be noted that price is reaching the upper limit of a bearish channel (currently it is at 0.9920). That level should finish the bulls offensive.

 

http://i66.tinypic.com/169nfw3.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 – 04th March, 2016

By FxGrow Research & Analysis Team

 

AUDUSD - third test of important resistance

 

AUDUSD reached to resistance at area 0.7380. Last time price was so high three months ago and it finished new low. If demand breaks above current support, next target will be located at 0.7610. However only break above level 0.8160 will be a strong signal to trend reversal. At current level it is likely that rebound occurs and will be a new downtrend wave because of the main train, what I will show at time-frame weekly.

 

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-04_analiza_AUDUSD_D1_zps1sxxsnvf.jpg

 

Wider view, time-frame W1

 

Since 2011 AUDUSD moves in downtrend. Often there are strong upward candles and next new lows. New low that occurred at the beginning of the year confirms downtrend in long term. If price doesn't come back above 0.7610 situation should be seen as occasion to short.

 

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-04_analiza_AUDUSD_W1_zpsmotpqmvl.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 – 07th March, 2016

By FxGrow Research & Analysis Team

 

USDJPY side trend after rebound from support and double bottom pattern

 

Since a week USDJPY moves between 113.30 - 114.20. Side trend occurred after dynamic rebound from area 111.00. There was a support strenghtened by double bottom pattern. If indicated level 113.30 brakes successfully it is likely that third test of 111.00 will occur. It have to be noted that main trend at USDJPY is downward one and it is more likely that there will be a new wave of falls than new uptrend movement.

 

However if demand is strong enought and level 114.20 will be break above target for upward movement is located at 116.10. Last level that I pointed is very important for futher direction of USDJPY. Only return above that resistance will be a very good signal for demand.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-07_analiza_USDJPY_H1_zpsmophna6a.jpg

 

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-07_analiza_USDJPY_H4_zpssclzabx0.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 March, 2016

By FxGrow Research & Analysis Team

 

EURUSD - nearest target for demand 1.1070

 

After huge EURUSD volatility last saw on Friday (just after US non-farm payrolls data), yesterday's session was similar. At the beginning supply broke below support at 1.0980 but in the afternoon failed to move further and demand was on the top. Today EURUSD is continuing upward movement and price achived new local high. Nearest important resistance is located at 1.1070.

 

If demand breaks it next resistances will be located at 1.1160, 1.1230, 1.1370. Current supports 1.0980, 1.0910, 1.0810.

 

Till Thursday EURUSD may move up, but during ECB metting (March 10th) there will be one thing for sure - huge volatility.

 

http://i66.tinypic.com/2v3llw3.jpg

 

To read this Full in depth Analysis please visit FxGrow.

 

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 March, 2016

By FxGrow Research & Analysis Team

 

EURGBP - return above important support area 0.7710 - 0.7760

 

 

EURGBP is above very important support - area 0.7710 (support from 2008) and 0.7760 (support from 2012, 2014). Since the beginning of February there was a correction of previous strong upward movement. Today demand is trying to finish it. Price is approaching 0.7800 and after breakout of that resistance price will move in direction of 0.7920.

 

It is a good sign for bulls that price is still above indicated support. Break above resistance at 0.7920 will finally confirm the strength of the bulls. Alternatively falls below 0.7710 will cause further declines to 0.7540.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-08_analiza_EURGBP_H1_zpsfkoddocv.jpg

 

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-08_analiza_EURGBP_D1_zpsndctvz2g.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 – 14th March, 2016

By FxGrow Research & Analysis Team

 

GBPUSD below important resistance

 

Upward movement at GBPUSD is in progress. In March situation is opposed that it was in February. In February we saw huge sell-off wave and in March price is continuing its rebound. Right now after two weeks of upward movement GBPUSD is starting below important resistance.

 

At charts below you can see that 1.4400 level was important in the past. This level stopped declines in 2010. It is likely that till next Wednesday (nearest FOMC meeting) price won't be very far from current level.

 

Further direction of movement will be indicated on Wednesday. If bulls break above 1.4400 level next targets will be at 1.4600, 1.4950. Otherwise nearest support is located at 1.4200.

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-14_analiza_GBPUSD_H4_zpswsbgbnhy.jpg

 

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-14_analiza_GBPUSD_W1_zpsmx0c08nr.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 – 14th March, 2016

By FxGrow Research & Analysis Team

 

USDJPY - movement inside big triangle pattern

Since February 26 USDJPY is moving in side trend between levels 112.30 - 114.40. It has to be noted that volatility is decreasing and at time-frame H4 triangle pattern occurred. Currently lower limit of the triangle should be found at 112.60 and upper limit at 114.30. After breaking one of indicated levels, dynamic movement is expected.

 

However, we should be careful - currency pairs with Japanese yen like to have first breakout fakey (false breakout). Nearest supports: 113.30, 112.30, 111.10, nearest resistances: 114.40, 116.00.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-14_analiza_USDJPY_H1_zpsn2dpe4ed.jpg

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-14_analiza_USDJPY_H4_zpsbf5acx1j.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 March, 2016

By FxGrow Research & Analysis Team

 

CADJPY - declines after BOJ meeting

 

On Tuesday there was a meeting of the Japanese central bank. BOJ didn't change anything - left interest rates and QE at current levels. Japanese Yen in reaction, strengthened to all of the currencies.

 

Declines at CADJPY wasn't a surprise. Since two weeks price moved below upper limit of the bullish regression channel. Yesterday we saw a rebound from resistance at 86.20. Target for declines should be 83.10 level. There coincides lower limit of the channel and support. On the way to indicated level there is a support at 84.30.

 

Only successful breakout of one of the levels 86.20 or 83.10 will allow for faster movement according with the breakout's direction.

 

http://i65.tinypic.com/2ushrix.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 March, 2016

By FxGrow Research & Analysis Team

 

EURUSD - silence before the storm, ahead of FOMC meeting

 

Price stabilized above 1.1070 level after huge volatility on the last Thursday. It was caused by ECB meeting. It's not the end of market's attractions because tomorrow there will be the FOMC meeting and decision about interest rates.

 

Till tomorrow price should stay between 1.1070 - 1.1200. However after FOMC decision it will be important which pointed level will be broken. Break below 1.1070 will lead price to 1.0810, but break above 1.1200 allows to test even 1.1380 level.

 

http://i67.tinypic.com/wqshvb.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 March, 2016

By FxGrow Research & Analysis Team

 

EURGBP highest since the beginning of march

 

Yesterday EURGBP broke above resistance at 0.7840. Upward movement may reach 0.7910 and next 0.8020 if demand won't fail. However if supply wins and price returns below 0.7840 nearest supports will be located at levels: 0.7710, 0.7610.

 

Wider view, time-frame W1

 

Since November 2015 EURGBP is moving in uptrend and corrections are very flat. It has to be noted that in long term (since 2008) price moves were bearish. Currently only break above 0.8150 will be a signal of trend reversal.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-16_analiza_EURGBP_H1_zpsvpznie2e.jpg

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-16_analiza_EURGBP_W1_zpszq9kcyly.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 March, 2016

By FxGrow Research & Analysis Team

 

EURPLN - uptrend line was broken

 

During last 2 months EURPLN felt 2400 pips. Previous upward movement from January 2016 was caused by the decision of Standard & Poor's agency, which unexpectedly cut Poland's credit rating. As you can see current declines shows that previous reaction on PLN was exaggerated.

 

Supply broke below uptrend line and until price does not return above 4.3100 it is likely that EURPLN will continue its declines. Nearest supports are located at 4.2650, 4.2240 and because price hasn't rebounded since more than a month rebound may occur at one of the indicated supports.

 

Time-frame D1

http://i66.tinypic.com/wjc3tz.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 March, 2016

By FxGrow Research & Analysis Team

 

AUDUSD broke above resistance at 0.7600

 

Since two months there is a bull market on AUDUSD. Today price broke above resistance at 0.7600 and right now is leading to next resistance at 0.7880. Before test of indicated level it is likely that price will re-test 0.7600 again, but this time test will be from the top.

 

Wider view, time-frame W1

 

For last 3 years AUD/USD has moved in a downtrend. Return above 0.7600 is a first signal that trend is reversing. However only break above 0.8150 confirms it. As we can see on weekly chart huge problem for bulls will occur at 0.7880. In this area resistance and upper limit of downward channel coincide.

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-17_analiza_AUDUSD_D1_zpsxqrkbbpj.jpg

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-17_analiza_AUDUSD_W1_zpsqc22488f.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 March, 2016

By FxGrow Research & Analysis Team

 

EURUSD - fight at 1.1330 resistance area

 

EURUSD sharply moved up after FOMC meeting where Janet Yellen FED's chair was very dovish. For last 24 hours price moved up by 300 pips. So far high from February wasn't tested however it is a matter of time that level 1.1380 will be re-tested.

 

If price continues upward movement the biggest problem for demand will be 1.1490 level. That level was tested only once since last 14 months and there price should rebound and start correction. Alternatively if falls occur earlier nearest supports will be located at 1.1200, 1.1070.

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-17_analiza_EURUSD_H4_zpskjh4f2up.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 March, 2016

By FxGrow Research & Analysis Team

 

GBPCAD new 10-months low

 

Since the beginning of the March GBPCAD moved up in correction. Rebound wasn't very strong because upward movement didn't reach even to Fibonacci 38.2% level. Correction finished on Wednesday when new low occurred. Yesterday price reacted at support and 1.8680 level has been defended.

 

However right now it is very hard to see any bullish signal and it is more likely that new downtrend wave will occur and GBPCAD will test support at 1.8140 level.

 

http://i67.tinypic.com/2urs049.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.