Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 18th March, 2016

By FxGrow Research & Analysis Team

 

OIL WTI - nearest target for upward movement is 43.20

 

Rebound at OIL WTI is in progress. After new low on 11 February, when price reached to 26.00 rebound occurred and it lasts for today. At chart we can indicate uptrend channel in which price is moving.

 

Currently upper limit of that channel is at 42.00 and there should occur some correction. However bigger falls may start when price will test area 43.20. If OIL breaks below support at 38.00 it will be a signal that upward movement was finished.

 

Time-frame H4

http://i65.tinypic.com/9r7i47.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 – 21st March, 2016

By FxGrow Research & Analysis Team

 

USDCAD at key level

 

USDCAD is continuing downward movement which was started in mid-January 2016. Currently further direction of the main uptrend is endangered. Because uptrend line was broken (that line was respected since 2012), return above 1.3200 - 1.3250 area should be treated as a bullish signal. It will inform that demand returned to the market.

 

Above this area price will be safe again over long-term uptrend line and also short-term downtrend line will be broken (dotted blue line at the chart). Nearest support: 1.2840, Nearest resistances: 1.3050, 1.3410.

 

Time-frame H4

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-21_analiza_USDCAD_H4_zps51dne3gy.jpg

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-21_analiza_USDCAD_W1_zpsyv3ayrtf.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 – 21st March, 2016

By FxGrow Research & Analysis Team

 

AUDCHF - triangle pattern predicts uptrend continuation

 

Since almost two weeks AUDCHF is moving inside a triangle. Its breakout will show further direction of price movement. It should occur soon because inside the triangle there is only 100 pips left (0.7330 - 0.7430 range).

 

Current chart prefers continuation of upward movement because the triangle pattern is a trend continuation pattern. Furthermore on March 10 price reached 11-months high and AUDCHF right now is just below that level. Key level for demand is located at 0.7540. Break above that level allows new uptrend wave. Alternatively if declines occur nearest support will be located at 0.7300.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-21_analiza_AUDCHF_H1_zpsh9np6m7y.jpg

 

Time-frame D1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-21_analiza_AUDCHF_D1_zpswfw4wf92.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 March, 2016

By FxGrow Research & Analysis Team

 

GBPUSD - sharp decline after attack in Brussels

 

Current week began with declines at GBPUSD. Yesterday support at 1.4400 was broken below and today just after attack in Brussels dollar strengthened vs most of the currencies. GBPUSD broke below another support at 1.4300 and right now it is leading towards 1.4220 - 1.4150.

 

It has to be noted that just after that kind of news emotions are winning and all of the movements that occurred will be corrected later.

 

At the chart you can see bullish regression channel which lasts from 3 weeks. Lower limit of the channel is located at 1.4150.

 

Time-frame H4

http://i64.tinypic.com/4u6wlz.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 March, 2016

By FxGrow Research & Analysis Team

 

SILVER - downtrend line was broken at weekly time-frame

 

Today's terror at Brussels caused temporary volatility, which was corrected in next trading hours. On silver volatility was huge. After sharp upward movement in the morning, decline and rebound occurred which lead price to daily high.

 

At time-frame H1 we can see a bullish regression channel and lower limit of that channel is located at 15.40 area. Above that area there is 15.70 (current nearest support). It has to be noted that uptrend on silver continues since December 2015. Important level for demand is located at 116.10, after break above that level price should fast reach 10-months high.

 

Wider view, time-frame W1

 

Since 3 months silver is moving in uptrend (new local highest highs and highest lows) but in a long term situation looks worse. Since many years silver moved in downtrend. Breaking the trend line is the first positive signal that demand is trying to reverse. Currently important job to do is to break above resistance at 16.10 and reach above 16.50 which will set new 10-months high.

 

Time-frame H1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-22_analiza_SILVER_H1_zps78fstq4v.jpg

 

Time-frame W1

http://i1148.photobucket.com/albums/o568/onestore40/2016-03-22_analiza_SILVER_W1_zpscm26cj1z.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 March, 2016

By FxGrow Research & Analysis Team

 

GBPAUD - after short break price is continuing downward movement

 

Last week support at 1.8820 caused rebound which was finished just after two days and at the beginning of current week price returned to declines. Declines lasts since August 2015 and there wasn't any bigger rebound in this period. The support at 1.8820 yesterday was broken and today supply is trying to break another support (but weaker) at 1.8620.

 

It is likely that this level won't stop declines and another level which may cause rebound is located at 1.8390. This level is strengthened by 78.6% Fibonacci retracement of previous upward movement.

 

Time-frame H4

http://i63.tinypic.com/29z6hr7.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 March, 2016

By FxGrow Research & Analysis Team

 

EURUSD reached support at 1.1160 strengthened by Fibonacci 61,8%

 

Since last Thursday EURUSD is sliding down without any hints on the next movement. Declines are very small relative to some previous movements. Today price reached very interesting level, which has a chance to prepare field for a rebound. Mentioned level is 1.1160, it is support strengthened by Fibonacci 61,8% of previous upward movement (it was just after FED's meeting).

 

However if rebound occurs nearest resistance will be at 1.1200. Next resistances are located at 1.1260, 1.1330 (last week's high). Alternatively if supply breaks indicated level nearest supports will be located at 1.1110 and much stronger at 1.1070.

 

Time-frame H1

http://i64.tinypic.com/30d9c35.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 March, 2016

By FxGrow Research & Analysis Team

 

USDJPY - rebound in progress

 

In last analysis I indicated the triangle pattern, as you can see it was broken down. After that declines accelerated, however once again support at 110.90 stopped them and caused rebound. Since the beginning of current week price is moving up and resistance at 111.70 was successfully broken.

 

Nearest resistances are located at 113.30, 114.50. If one of indicated levels cause rebound nearest supports will be located at levels: 112.70, 112.30, 111.70.

 

Time-frame H4

http://i68.tinypic.com/2whh8i1.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 March, 2016

By FxGrow Research & Analysis Team

 

EURGBP - 16-months high

 

Since the beginning of December 2015 EURGBP moved in strong uptrend. Short correction which started one month ago probably was finished. New 16-months high confirms that correction was ended.

 

If price keeps standing above 0.7910 next important resistances will be located at 0.8000 and 0.8150 (strong resistance and long term downtrend line which connects highs since January 2009 coincide in this area). Alternatively if current level breaks and new wave of declines occurs nearest supports will be located at 0.7860, 0.7800, 0.7770, 0.7700.

 

Time-frame H4

http://i64.tinypic.com/t6cphf.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 March, 2016

By FxGrow Research & Analysis Team

 

GBPCAD - support at 1.8540 stopped declines

 

Last week supply tried again to broke support at 1.8540 but that attempt failed. Since Wednesday rebound is in progress and upward movement should test at least 1.8830 area. If bulls will be strong enough even 1.9080 level may be tested. Currently there isn't any positive signs for bulls.

 

Only when price breaks 1.9080 level there will be a bigger chance for a trend reversal. It is likely that in a mid-time support at 1.8540 will be broken and GBPCAD will test 1.8400 or even 1.8140. At this strong support there is a bigger chance that rebound will occur.

 

Time-frame D1

http://i65.tinypic.com/2ln8msm.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 March, 2016

By FxGrow Research & Analysis Team

 

EURGBP

 

This analysis is a continuation of previous one, published on Thursday 24th of March. Since then, EUR/GBP has failed in getting through the last high resistance and corrected a bit. Of course, since last Thursday we had weekend and Easter which froze the market, but during Monday session EUR/GBP touched first demand zone and it does it twice.

 

Today we're witnessing another test of gold area which is first demand zone on the chart. It has been tested couple of times in the past, both from up and down. We are also really close to the medium term trend line which was tested 4 times since the begining of March.

 

It seems that we might see another move up, which should lead us to another test of previous resistance. If supply will be stronger than buyers, then we might have a breakthrough. In this scenario, short positions after retest of blue trendline will be preffered.

 

http://i1148.photobucket.com/albums/o568/onestore40/eurgbp_zps5jcffjbu.png

 

http://i1148.photobucket.com/albums/o568/onestore40/EURGBPH4_zpsoferpjhq.png

 

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 March, 2016

By FxGrow Research & Analysis Team

 

Crude oil tests the price gap

 

On the daily chart of May contracts for crude oil, we can see that price once again tested the support area defined by weekend price gap sketched between March 4-7 (ranging over 1.5USD). Declines reached the above mentioned zone after a failed test of resistance level which is determined thanks to the October 2015 lows (42.58).

 

In this place it is worth watching for further developments – so far there is no indication of the stronger rebound (price stopped at the gap’s upper limit almost to the point), but the situation may change during the next trading sessions. Especially that current week brings a number of important macro data reading which should guarantee higher volatility.

 

D1 Timeframe

http://i66.tinypic.com/immf0g.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 – 30th March, 2016

By FxGrow Research & Analysis Team

 

EURUSD - the test of March's high

 

After side trend in which EURUSD moved for a few days (just above 1.1160 level), finally new upward wave occurred. Yesterday first resistance at 1.1200 was broken and a direct cause of larger volatility was yesterday's public speech of Janet Yellen. Chair of the FED indicated anxiety of the low inflation and she said that Federal Reserve has tools to fight with this problem. This could mean a significant extension of the period of low interest rates in the US.

 

EURUSD sharply moved up and today price is testing 1.1330 (which is March's high). Right now it is likely that price will reach 1.1380 level which is next resistance. After successful breakout of that level price would be at 5-month high. It has to be noted that at the level 1.1490 there is an upper limit of consolidation, in which EURUSD moves over a year.

 

http://i64.tinypic.com/2l8bwpc.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 – 30th March, 2016

By FxGrow Research & Analysis Team

 

GBPUSD - above resistance 1.4400

 

After last week’s selloff at GBPUSD which started after terrorist attacks in Brussels, declines reached support at 1.4070. Declines were finished last Thursday after local double bottom pattern and bullish candle (at time-frame H4) with long lower shadow. Demand took over control during end of last week but current week it was a capitulation of supply.

 

In the last three days demand broke resistance at 1.4200 and today price reached above 1.4400. In the long term the technical situation on the chart continues to favour supply. Because there aren't new higher highs and higher lows which should confirm uptrend. Right now important job for demand is to break above march's high (moves above 1.4514 level). Nearest supports: 1.4400, 1.4290, 1.4200. Nearest resistances: 1.4500, 1.4600.

 

http://i65.tinypic.com/2mw8ktx.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 – 31st March, 2016

By FxGrow Research & Analysis Team

 

NZDCAD - long PIN BAR candle at the resistance

 

Yesterday on NZDCAD interesting daily candle occurred. Demand was punished for too rapid attempt of rebound and on the chart PIN BAR candle occurred with a long upper shadow. Shadow of that candle tested resistance at 0.9050.

 

It is likely that downward movement will be continued. 0.8820 handle may be tested or even current rebound may be finished. Right now it is a perfect moment for bulls to show strength because only breaking above March's high (area 0.9115) will allow the more optimistic view on further growth.

 

http://i67.tinypic.com/mmsboi.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 April, 2016

By FxGrow Research & Analysis Team

 

USDCAD back to touch highs as it underpinned long-term support

 

The USDCAD decreased for nine consecutive weeks as the pair hits fresh 2016 lows near 1.2857. This long-term support level provides signals of a reversal trend as the USDCAD touched 1.2832 lows in October 2015. Thus prices are expected to comeback as the pair breaks 1.3075 reaching 1.3090 and 1.3125 respectively.

 

However, we could see a further downside direction awaiting crude oil movements and Canadian employment data. Cutting 1.3015 as a major support level will push the USDCAD lower toward 1.2995, 1.2960 and 1.2940 as next support levels.

 

http://i1148.photobucket.com/albums/o568/onestore40/USDCAD_sc_zpsirvpcwbt.png

 

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 April, 2016

By FxGrow Research & Analysis Team

 

EURUSD further upside direction

 

The EURUSD started pushing higher after Yellen’s comments last week. The EURUSD is attempting to have a bullish breakout after an increase in US unemployment rate producing a slack in US labor market especially as the price cuts 1.1400 as a strong resistance. Thus next resistances are located at 1.1440 and 1.1470.

 

However, the ECB easing decisions might push the EURUSD lower and trading below 1.1387 will send bearish signals testing 1.1365, 1.1345 and 1.1330 as next support levels.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_m_zpsbz0k8wfl.png

 

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 – 05th April, 2016

By FxGrow Research & Analysis Team

 

AUDUSD rallied as RBA kept lending rate steady

 

The AUDUSD traded higher as the Reserve Bank of Australia (RBA) weakens rate cut expectations and kept lending rate unchanged at 2%. Breaking 0.7640 increases to 0.7675 as a major resistance level and cutting this point will produce a bullish momentum targeting 0.7723 and 0.7745 respectively.

 

However, the AUDUSD was testing support point near 0.7570 and breaking 0.7555 will support the near term reversal touching 0.7520 and 0.7485.

 

http://i1148.photobucket.com/albums/o568/onestore40/AUDUSD_ma_zpsthvfnf9v.png

 

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 – 05th April, 2016

By FxGrow Research & Analysis Team

 

EURUSD overbought territory might lead to strong pullback

 

The EURUSD failed to continue gaining after reaching 1.1437 high this year. Hitting higher lows and failing to cut 1.1420 and the European Central Bank (ECB) dovish outlook for inflation and monetary policy give signs of a strong pullback and will open the door of a downside move. Cutting 1.1365 as a strong point will push the EURUSD lower toward 1.1345, 1.1325 and 1.1295 as next support levels.

 

However, a bullish sentiment will be created once the EURUSD breaks 1.1420 reaching near term resistance level 1.1455 and 1.1475.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_ma_zpstxjqbrrm.png

 

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 – 06th April, 2016

By FxGrow Research & Analysis Team

 

USDJPY rise as risk appetite firms in Asia

 

USDJPY fell to 14 month lows at 109.95 yesterday on BOJ negative interest rate policy. Japanese Yen gains support as Kuroda said that he will keep monitoring the currency and warned of further interest rate cut. Breaking 1.1015 as a minor support point will nourish the downside trend and will push the USDJPY lower toward 109.95, 109.70 and 109.50 respectively.

 

However, the USDJPY is trying to find some ground awaiting larger forces to take over especially if the FOMC provide a hawkish tone today thus pushing the USDJPY higher. Cutting 1.1060 will push the USDJPY to next resistance levels 1.1085 and 1.1120.

 

http://i1148.photobucket.com/albums/o568/onestore40/USDJPY_ma_zps6yodgakq.png

 

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 – 06th April, 2016

By FxGrow Research & Analysis Team

 

GBPUSD is in a chaotic position on ‘BREXIT’ risk

 

GBPUSD is extending its weakness as ‘Brexit’ is creating volatility as it gets priced in. The BOE financial policy committee increased the countercyclical capital buffer rate for UK exposures from 0% to 0.5% and raises risks of the UK economy as more possibilities of the EU referendum ‘Brexit’ emerge.

 

The GBPUSD is still trading above the long term support 1.4057 but breaking 1.4080 will push the GBPUSD lower reaching 1.4030 and 1.3980 as next support points.

 

However, BOE financial stability might overcome the threats and cutting 1.4270 creates a bullish signal toward 1.4290 and 1.4344 as next resistance levels.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_cse_zps1eyfcpqj.png

 

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 April, 2016

By FxGrow Research & Analysis Team

 

EURUSD Bullish breakout ahead of ECB meeting

 

The EURUSD entered a bullish trend after it trades above 1.1420 powered by FOMC meeting minute release. Yesterday, a positive sentiment was created as the EURUSD failed to close lower and as the FOMC increased caution for interest rate hike this year pushing the pair higher targeting 1.1455, 1.1480 and 1.1515 as next resistance levels.

 

However, the EURUSD might reverse if the European Central Bank give dovish comments for monetary policy and expand easing program thus moving the EURUSD backward reaching 1.1360, 1.1330 and 1.1300 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_f_zpsn8xdt90o.png

 

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 April, 2016

By FxGrow Research & Analysis Team

 

EURUSD struggled after Yellen’s comments

 

The EURUSD failed to breakout and continue its uptrend after reaching 1.1455 high on Yellen’s less cautious tone for interest rate hike this year. Japanese finance minister also supported the dollar on warnings of the one-sided Yen rise. Breaking the strong support point 1.1360 will push the EURUSD lower reaching next support levels 1.1325 and 1.1295.

 

However, another price move toward 1.1420 is needed for the EURUSD to signal a bullish trend thus reaching the initial intraday high 1.1455 and continue to 1.1475 and 1.1500.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_k_zpses5a27wm.png

 

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 April, 2016

By FxGrow Research & Analysis Team

 

EURUSD more actions on ECB minutes

 

The EURUSD steadied in a long-term range between 1.1365 and 1.1435 on political tension and ‘Brexit’ issues and on concerns that the ECB is more likely to cut further rates than expanding Quantitative Easing (QE) program. The EURUSD remains under pressure as it fails to cut 1.1455 and breaking 1.1390 will continue slumping near 1.1375, 1.1345 and 1.1330 respectively.

 

However, the EURUSD need a push above the minor resistance 1.1455 in order to clear the range and breakout reaching 1.1475, 1.1500 and 1.1525 as next resistance levels.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_zpsn8vtjn9c.png

 

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 April, 2016

By FxGrow Research & Analysis Team

 

GBPUSD trade sentiment stays above the long-term support ahead of BOE meeting

 

GBPUSD has appreciated and traded above 1.4060 after Fed dovish comments on interest rate hike expectations this year. Sticky UK inflation will push the GBPUSD higher and cutting 1.4190 continues increasing to 1.4220, 1.4245 and 1.4265 as next resistance levels.

 

However, Bank of England (BOE) meeting this week might have a dovish tone although that the central bank is widely anticipated to retain its current policy pushing GBPUSD lower. Breaking 1.4100 will create a downside movement again and will drive the pair toward 1.4075, 1.4045 and 1.4020 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_zpsothluvcu.png

 

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.