Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 28th April, 2016

By FxGrow Research & Analysis Team

 

The EURUSD may recover ahead of US GDP figures

 

The EURUSD is playing a sideway congestion in the last 2 days staying in a range between 1.1255 and 1.1355 as Draghi argued that more time is needed to assess the impact of a large stimulus expansion before considering further easing. But the EURUSD started increasing after Fed statement yesterday showing a slower economic growth in the US and staying cautious regarding rate hike. Breaking 1.1370 will keep moving higher toward 1.1410 and 1.1450.

 

However, the EURUSD might fail a bullish breakout awaiting US GDP figures today, and breaking 1.1275 may continue its downward wave toward next support points 1.1235 and 1.1190.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lw_zpsaluplg1d.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 April, 2016

By FxGrow Research & Analysis Team

 

The EURUSD rallied as US GDP worsen

 

The EURUSD surged higher and crosses the 1.1400 zone on slowing US growth to reach 1.1415. The Dollar index drops more as weak US GDP data eased the Fed rate hike decision and as the BOJ kept monetary stimulus unchanged. The EURUSD will gain momentum if it breaks 1.1435 and thus continue rallying toward 1.1460 and 1.1480 respectively.

 

However, struggling to reach inflation target and slower Euro zone GDP might embark the ECB to expand easing program and therefore pushing the Euro lower back to support levels 1.1335, 1.1295 and 1.1275.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lo_zpshsxjgcwp.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 – 02nd May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD along new target zones on disappointing US data

 

The EURUSD breaks the 1.1400 zone and is pushing a leg higher toward 1.1500 zone after stronger than expected Euro GDP data. Although inflation comes below expectations on Friday, the EURUSD continue rallying and is eying new targets as it breaks 1.1495 to reach near-term resistance levels 1.1535 and 1.1565.

 

However, increasing QE program is still on the way thus putting the Euro under pressure and cutting 1.1415 might show a reversal pattern toward 1.1370 and 1.1350 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lv_zpsda7d6gmt.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 – 03rd May, 2016

By FxGrow Research & Analysis Team

 

The Aussie tumbled as the RBA cut rates

 

The AUDUSD changed a little bit after weak Caixin PMI data and touches 0.77 range, but the Reserve Bank of Australia (RBA) cut rates to 1.75% and commented that inflation data was low thus pushing the Australian dollar near 0.7555 lows. Breaking 0.7550 may show a lower leg toward 0.7525 and 0.7485 respectively.

 

However, the AUDUSD needs a push above 0.7660 again to continue its upward movement to reach next resistance levels 0.7695 and 0.7725.

 

http://i1148.photobucket.com/albums/o568/onestore40/AUDUSD_lv_zpsmvnhcqut.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 – 03rd May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD reached 8 months high on weaker dollar

 

The EURUSD maintained its highest levels since August 2015 against the Dollar to touch 1.1600 zone. The US Dollars continue its slump on weak Chinese data and as the RBA cut rates lately this morning. The RSI is bullish and breaking the resistance point 1.1615 might extend the bullish trend toward 1.1645 and 1.1685.

 

However, the Euro is still under pressure as the ECB left the door opened for further easing in the coming months and breaking 1.1515 gives a reverse sign toward 1.1500, 1.1475 and 1.1445 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_ls_zps28qa20ov.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 May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD flat again as the dollar rose

 

The EURUSD decreased and the prices squeezed again in the 1.1400 and 1.1500 zone as the Dollar recovered after Fed policy makers claimed that there is a possibility of 2 rate hike this year. Breaking the major support 1.1460 will trigger a bearish leg to reach 1.1430, 1.1415 and 1.1395 respectively.

 

However, the EURUSD needs a close above the 38.2% Fibonacci expansion at 1.1575 to breakout and pave the way near next resistance levels 1.1615 and 1.1655.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lz_zpsryicwahu.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 May, 2016

By FxGrow Research & Analysis Team

 

The USDJPY is under pressure ahead of US payroll data

 

The US Dollars showed some gains against several major currencies especially against the Yen after it touches 105.53 lows supported by talks from Fed policymakers yesterday. Looking ahead, a strong US payroll data due on Friday will give the US Dollars a bullish signal and breaking 107.60 will make an end to the bearish move and continue rallying toward 108.15 and 108.50.

 

However, the USDJPY needs to break the strong support level 105.85 in order to pave the way near next support points 105.50 and 105.20.

 

http://i1148.photobucket.com/albums/o568/onestore40/USDJPY_lz_zpsapcztl5h.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 May, 2016

By FxGrow Research & Analysis Team

 

The GBPUSD moves lower approaching initial support targets

 

The GBPUSD is showing a reversal pattern as it fails to surge higher and break the major resistance point 1.4590. The GBPUSD remains in focus awaiting UK PMI data as it favorably entering the support point 1.4470, and cutting this level will pave the way near next support points 1.4450 and 1.4420.

 

Alternatively, the US Dollars remains under pressure ahead of US payroll data due on Friday, and breaking the weekly resistance level 1.4590 will trigger a bullish move toward 1.4615 and 1.4665 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_lv_zpsq2z1chcr.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 May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD rose on positive ISM non-manufacturing survey

 

The EURUSD was flat but moved higher as the US ISM non-manufacturing Survey beats expectations. The EURUSD advanced and moved above the resistance level 1.1475 to touch 1.1494 highs ahead of US non-farm payroll. Breaking the minor resistance level 1.1500 will continue its upward direction near 1.1535 and 1.1565 respectively.

 

However, the sentiment for the EURUSD remains bearish and the pair needs to break 1.1430 in order to open the door for a bearish leg toward next support levels 1.1415, 1.1385 and 1.1365.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lx_zpsw3xevo8h.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 May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD struggles ahead of US NFP data

 

The EURUSD dropped sharply ahead of US payroll data as it fails to hold above the major resistance level 1.1460. The EURUSD reverses after touching 1.1616 high on weak Asian markets and continue slumping on rising expectations that the Fed is going to raise rates sooner than later this year. Failing to hold above 1.1455 would indicate fake breakout, and breaking 1.1385 will create a bearish leg toward 1.1360 and 1.1320 respectively.

 

However, the EURUSD needs to break the strong resistance level 1.1460 in order to form a corrective wave thus paving the way to reach next resistance levels 1.1515, 1.1535 and 1.1575.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lt_zpsjohkf6ab.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 – 09th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD slumps although US jobs data weakens

 

The EURUSD hovered around 1.1400 again although payroll data showed US economy added the fewest jobs in seven months. The US Dollars fell on Friday but then extended its rally of the week after encouraging annual wage growth. The EURUSD is now in a bearish territory and breaking 1.1365 will continue its sluggish move toward next support levels 1.1335 and 1.1305.

 

However, the EURUSD needs a push above 1.1435 in order to gain momentum and continue rising to touch 1.1455 and 1.1475 respectively.

 

http://i.imgur.com/BaYxPBK.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 – 09th May, 2016

By FxGrow Research & Analysis Team

 

The Aussie decreased on weak Chinese data

 

The AUDUSD has been heavily sold off after Reserve Bank of Australia (RBA) prompted another cut in interest rate this year. The AUDUSD extended losses to trade below the 0.7400 zone on weaker than expected Chinese data and as the dollar surged higher last week. Breaking 0.7330 might open a lower leg to touch 0.7305 and 0.7275 respectively.

 

Alternatively, the AUDUSD have to break 0.7405 in order to recover and starts its upward move to reach next resistance levels 0.7445 and 0.7475.

 

http://i.imgur.com/CpIVLdg.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 – 10th May, 2016

By FxGrow Research & Analysis Team

 

The British pound looks bearish ahead of inflation report

 

The GBPUSD is still moving lower as it is paving the way toward the 38.2% Fibonacci retracement 1.4310. Both inflation report and ‘BREXIT’ puts pressure on the pound as policymaker’s views on monetary policy are now mixed. Breaking the support point 1.4355 creates a bearish signal to touch the next support levels 1.4315 and 1.4280.

 

However, rising expectations that the Bank of England (BOE) will not see immediate rate hike changes give support to the GBPUSD and breaking the strong resistance level 1.4470 will trigger an upward move toward 1.4490 and 1.4525 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_le_zps7cs2sdso.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 – 10th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD remains under pressure ahead of risky key events

 

The US Dollars was extremely strong despite weak US payroll data and despite shrinking Fed rate hike expectations. The EURUSD is awaiting the Greek GDP and British inflation reports this week and a close below the 23.6% Fibonacci retracement 1.1357 will strengthen the bearish movement and will open a lower leg toward 1.1330, 1.1290 and 1.1270 respectively.

 

However, the EURUSD is awaiting further ECB actions and needs a push above 1.1455 in order to put an end to the bearish movement and will open the door for an upward movement to reach next resistance levels 1.1485 and 1.1535.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lj_zpsuca3pkj8.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 May, 2016

By FxGrow Research & Analysis Team

 

The USDJPY rally might have come to an end

 

The USDJPY surged higher in the past two days to touch 109.35 high following BOJ QQE upgrade. Central bank monetary policy intervention will shape the trend of the USDJPY and a push above 109.60 is needed to continue its upward movement to touch near-term resistance levels 110.00, 110.30 and 110.60.

 

However, the US dollars is losing momentum as weaker Asian equities affect the dollar negatively. The USDJPY needs to break 108.30 in order to trigger a downward push toward 107.90 and 107.55 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/USDJPY_le_zpsgxcccghw.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 – 12th May, 2016

By FxGrow Research & Analysis Team

 

The GBPUSD is preparing for a short-term breakout ahead of BOE decision

 

The GBPUSD gained momentum after breaking the strong resistance level 1.4460. The GBPUSD is searching for a recovery as it is heading into the Bank of England (BOE) quarterly meeting today. The GBPUSD has the opportunity to scope higher on rising expectations that the BOE is unlikely to change monetary policy and breaking 1.4460 triggers an upward move toward next resistance levels 1.4490 and 1.4535.

 

However, the BOE is going to release its quarterly inflation report that has a great impact on bank decision thus putting pressure on the pound and cutting 1.4400 opens a bearish leg to reach 1.4375 and 1.4345 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_lq_zpslntlkvt0.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 – 12th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD recovered ahead of US retail sales data

 

The EURUSD notched higher this morning to trade above 1.1400 zone waiting to bounce back at the 1.1445 initial resistance level. The FX pairs are looking for further data to smash out and play in a new range. The EURUSD needs to break the major resistance level 1.1465 in order to pave its way to touch next resistance levels 1.1495 and 1.1525.

 

However, the SSI is still short on the EURUSD and failing to hold above the initial support level 1.1385 will lead to an immediate downward wave toward next support points 1.1350 and 1.1320.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lq_zpsryt8ypkq.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 – 13th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD is finding support ahead of US retail sales report

 

The EURUSD was playing in a range between 1.1345 and 1.1445 in the past two days as the US Dollars strengthen. The EURUSD failed to cut 1.1460 and breakout on stronger comments from Fed policymakers as they said that the Fed should hike rates if data improves especially inflation. Breaking the support point 1.1320 will create a strong bearish movement to reach next support levels 1.1280, 1.1260 and 1.1235.

 

However, volatility remains in the market and the EURUSD kept an opened wave higher to breach new targets and breaking the minor resistance point 1.1390 paves the way for a bullish leg toward 1.1430 and 1.1460 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lr_zpsclzeebj8.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 – 13th May, 2016

By FxGrow Research & Analysis Team

 

The British pound gained momentum as the BOE retains current policy

 

The GBPUSD reached 1.4530 high yesterday as the Bank of England (BOE) reiterated its view on policy and downgraded its GDP outlook. The GBPUSD is attempting to breakout of the downward trend and the RSI remains bullish for the pound and breaking the resistance point 1.4475 will expand its upward move toward 1.4495, 1.4515 and 1.4545 respectively.

 

However, the BOE used the quarterly inflation report to warn on ‘BREXIT’ putting pressure on the British pound and cutting 1.4365 supports the bearish trend and open the door for further declines toward near-term support levels 1.4335 and 1.4300.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_lr_zpsxyqoe81o.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 – 16th May, 2016

By FxGrow Research & Analysis Team

 

The AUDUSD tumbles after weak Chinese data

 

The AUDUSD gapped lower as Chinese industrial production and retail sales data came weaker than expected to touch 0.7248 low. Year to date figures also missed expectations showing signs of a sluggish Chinese economy and thus giving a further slump to the AUDUSD. The AUDUSD will face a continued selling pressure as the pair cuts the support point 0.7235 to reach next support levels 0.7205 and 0.7165.

 

Alternatively, the RSI remains flat and the AUDUSD needs a push above 0.7308 in order to reverse back and trade higher toward 0.7325 and 0.7355 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/AUDUSD_lq_zpsf6qzi73h.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 – 16th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD largest drop after strong US retail sales data

 

The Euro falls against the US dollars as US retail sales data upbeat expectations. The EURUSD lost upside momentum and turned lower after a shooting star candlestick appeared above 1.1600 zone. The EURUSD is still losing ground especially as US economic data started stronger than expected and at the same time the SSI remains short and breaking the strong support point 1.1290 will put the euro in a bearish territory to touch near-term support levels 1.1260, 1.1220 and 1.1195.

 

However, the EURUSD needs a push above 1.1365 in order to put an end to the bearish trend and opens a leg higher toward 1.1395, 1.1415 and 1.1455 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_ll_zpsmd60ivby.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 – 17th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD is finding support ahead of US CPI data

 

The EURUSD was flat and was held in arrange between 1.1300 and 1.1345 as investors awaits new economic data to be released today. US economic data started improving on rising energy prices and better inflation report will boost expectations of Fed rate hike in June thus putting pressure on the EURUSD. Breaking 1.1300 will pave the way toward near-term support points 1.1275, 1.1235 and 1.1212.

 

However, the EURUSD needs a push above 1.1355 in order to trigger an upward move toward 1.1375 and 1.1395 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lf_zpstrbjabob.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 – 17th May, 2016

By FxGrow Research & Analysis Team

 

The GBPUSD upside move on slowing UK CPI data

 

The GBPUSD rebounded on expectations that inflation rate will remain unchanged at 0.5 percent. The Bank of England (BOE) is not expected to increase rates until 2017 thus supporting the British pound and the GBPUSD needs to break the strong resistance point 1.4545 in order to continue surging higher and to pave the way toward 1.4575 and 1.4595.

 

However, a slowdown in the UK core inflation data may push out bets for BOE rate hike and thus will open the door for a downside trend and cutting 1.4360 will trigger a lower leg to reach 1.4345 and 1.4315 respectively.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_lf_zps56odlna1.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 – 18th May, 2016

By FxGrow Research & Analysis Team

 

The EURUSD is struggling on stronger than expected US CPI data

 

The EURUSD hovered lower and cut the 1.1300 zone reaching 1.1270 low after upbeat US inflation data. These strong US economic data increases expectations that the Fed is going to increase rates in June thus putting the US Dollars in a bullish territory. The EURUSD is now vulnerable to deeper losses and breaking 1.1255 will push the EURUSD lower toward 1.1215 and 1.1190 respectively.

 

However, FOMC dovish statements regarding interest rate will create bearish signs for the US Dollars and will support the Euro, and breaking 1.1330 might create a recovery wave to touch next resistance points 1.1365 and 1.1395.

 

http://i1148.photobucket.com/albums/o568/onestore40/EURUSD_lh_zpsmbx06wpt.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 – 18th May, 2016

By FxGrow Research & Analysis Team

 

The GBPUSD dropped on weaker than expected UK CPI data

 

The GBPUSD treaded water to touch 1.4396 low after lower than expected UK inflation report. The GBPUSD hovered lower on stronger Dollar after strong US CPI data. The GBPUSD remains under pressure ahead of UK unemployment report and ahead of “Brexit” votes and cutting 1.4400 will provide a lower leg toward 1.4365 and 1.4330 respectively.

 

However, strong UK wage growth may spark a bullish reaction in GBPUSD as it plays a big role on the Bank of England (BOE) to normalize monetary policy and breaking 1.4480 push the GBPUSD higher toward 1.4500 and 1.4525.

 

http://i1148.photobucket.com/albums/o568/onestore40/GBPUSD_lh_zpspqvd7iza.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.