Jump to content

Daily Technical Analysis By FxGrow.com

Rate this topic


Recommended Posts

Daily Technical Analysis – 20th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD20may15_zps9bgnphk3.png

EURUSD had a strong bearish momentum yesterday falling below 1.1150 to trade at 1.1129 in the Asian Trading session. The near term bias remains bearish with targets of 1.1100 to 1.1050

RSI (14), MACD (12, 26), ADX (14), CCI (14) indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.1117 while Resistance is at 1.1265 and 1.1288

20th May 2015 – 05:11hrs GMT


GBPUSD

GBPUSD20may15_zps23rkmhqd.png

GBPUSD is moving in a bearish momentum with the pair testing 1.5460 yesterday. It is expected to move in a low range and the near term bias remains bearish with targets of 1.5450 to 1.5400

RSI (14), MACD (12, 26), ROC, ADX (14) indicate a SELL; STOCH (9, 6) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1.5444 while Resistance is at 1.5556

20th May 2015 – 05:26hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 20th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD20may15_zpsgg3ygsfs.png

AUDUSD continues its bearish trend dropping below 0.7900 in the Asian trading session. The near term bias is Neutral to Bearish within range of 0.7880 to 0.7840 with some sideways movements expected in the European trading session.

RSI (14), MACD (12, 26) indicate a SELL; ADX (14) and CCI (14) are Neutral; STOCHRSI (14) is overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7896 while Resistance is at 0.7975 and 0.8032

20th May 2015 – 05:32hrs GMT


USDJPY

USDJPY20may15_zpsluyculnp.png

USDJPY maintains its Bullish tone crossing 120.95 in the Asian trading session. Some correction in prices and sideways movements are possible in the European trading session. The near term bias remains Bullish with targets of 121.50 to 122.00

RSI (14), MACD (12, 26), ADX (14), STOCH (9, 6) indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 120.28 while Resistance is at 121.17

20th May 2015 – 05:40hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 20th May, 2015
By FxGrow Research & Analysis Team

ECB1_zpsjri19e1b.png

Euro collapses after ECB Plans to Increase Bond Purchases

The European Central Bank plans to increase bond purchases as a part of its €1.1 trillion program in the coming weeks. This assured the investors globally that ECB will take necessary steps to meet their monthly bond-purchase target of €60 billion.

The comments made by ECB board member Benoit Coeure triggered a rally in European stock and bond markets and weakened the Euro. Coeure also hinted that ECB may push interest rates further below zero when deciding monetary policy.

The ECB has to decide whether it is willing to apply haircuts on debt it will accept from Greek banks under its ELA program as it will not risk a meltdown of Greek banks. Greece is running out of time as it has just two weeks before it runs out of cash and defaults, since its next payment is due on 5th of May.

Soon after the news EURUSD came under heavy selling pressure and is currently trading below 1.1100 in the Asian trading session.

In Germany Investor sentiment fell for the second month. The ZEW German Economic sentiment fell to 41.9 while analyst expectations were at 49.0 Germany’s Producer Price Inflation rose to 0.1% while analyst expectations were for a rise of 0.2%

In UK Inflation turned negative for the first time since 1960, as per expectations of the Bank of England GBP Consumer Price Index fell to -0.1% in April.

In US Housing Starts and Building Permits surged more than expected in the month of April. According to Ted Wieseman, an economist at Morgan Stanley "The strong rebound in housing starts confirmed expectations for housing to accelerate substantially in the second quarter and be a stand-out growth contributor amid otherwise sluggish indications for a pickup in GDP growth".

In Japan Economy grew more than expected to 2.4% in first quarter. According to Marcel Thieliant, a Japan economist at Capital Economics "The acceleration in GDP growth last quarter was mostly due to a jump in inventories, and a range of indicators point to a slowdown in the second quarter".

Crude Oil is higher in the Asian trading session at 58.81$ ahead of the EIA's weekly Crude Oil data.

Gold is trading lower this morning at 1207.14 while Silver is up at 17.10

20th May 2015 – 07:55hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 21st May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD21stmay15_zpsz4gijdms.png

EURUSD remained indecisive yesterday but closed lower at 1.1091 In the Asian trading session the pair is in a Bullish momentum and the near term bias remains bullish with targets of 1.1200 to 1.1250

STOCH(9,6), ADX (14), CCI (14), ROC indicate a BUY; STOCHRSI(14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1061 while Resistance is at 1.1130

21st May 2015 – 05:07hrs GMT


GBPUSD

GBPUSD21stmay15_zpsu4paleeb.png

GBPUSD remained sideways yesterday and is trading above the 20 day moving average. The near term bias remains bullish with targets of 1.5590 to 1.5620

RSI (14), MACD (12, 26), ROC, ADX (14) indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.5497 while Resistance is at 1.5587

21st May 2015 – 05:14hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 21st May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD21stmay15_zpsq4wdwnvo.png

AUDUSD is in a Bullish tone in the Asian trading session trading above the 20day moving average. The near term bias is Neutral to Bullish within range of 0.7950 to 0.7980 with some sideways movements expected in the European trading session.

STOCH(9,6), ADX (14), CCI (14), ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7860 while Resistance is at 0.7921 and 0.7937

21st May 2015 – 05:20hrs GMT


USDJPY

USDJPY21stmay15_zps0zv759nj.png

USDJPY was higher yesterday crossing its 20 day moving average at 121.14 In the Asian trading session it has entered into a bearish correction. The near term bias remains Bearish with targets of 120.80 to 120.60

STOCH (9, 6), ADX (14), CCI (14), ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 120.82 while Resistance is at 121.47

21st May 2015 – 05:27hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 21st May, 2015
By FxGrow Research & Analysis Team

fomc_zps02pazwcr.png

FOMC Minutes show reduced likelihood of June Rate Hike

The Federal Open Market Committee (FOMC) minutes indicate a consensus that the weakness in Q1 growth was transitory and that some of the recent weakness in the pace of economic activity might persist. The minutes show a reduced likelihood of a June rate hike with only "a few" participants expecting conditions would justify raising the fed funds rate at that time.

Many participants, however, thought it unlikely that the data available in June would provide sufficient confirmation that the conditions for raising the target range for the federal funds rate had been satisfied, al-though they generally did not rule out this possibility.

However, most participants felt that the timing of the first increase in the target range for the federal funds rate would appropriately be determined on a meeting-by-meeting basis and would depend on the evolution of economic conditions and the outlook.
In UK Bank of England minutes show consensus to maintain the benchmark interest rate at all-time low of 0.5% this month and to keep the size of the central bank's bond portfolio at 375 billion pounds.

According to Bank of England "While there was a range of views over the most likely future path for bank rate, all members agreed that it was more likely than not that bank rate would rise over the three-year forecast period".

In Canada wholesale sales rebounded in March which is a positive sign for Canada's economy.

According to the Bank of Canada Governor- Stephen Poloz "Not only are the headwinds of the global financial crisis still blowing, but now we're also dealing with lower prices for oil and other key commodities, which previously were a key growth engine for us".

Crude Oil is higher in the Asian trading session at 59.34$ as Fed suggested that a rate hike in June is unlikely.

Gold is trading lower this morning at 1210.33 while Silver is up at 17.20

21st May 2015 – 07:58hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 22nd May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD22may15_zpsag0udzjj.png

EURUSD is in continuation of its Bullish phase with the pair trading above its 20day moving average in the Asian trading session. The near term bias remains bullish with targets of 1.1200 to 1.1250

MACD (12, 26), RSI (14), ADX (14), CCI (14), ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1097 while Resistance is at 1.1180

22nd May 2015 – 04:38hrs GMT


GBPUSD

GBPUSD22may15_zpswirfgq4l.png

GBPUSD is in the consolidation phase with the pair trading above its 20day moving average in the Asian trading session. Sideways movements are expected in the European trading session. The near term bias remains bullish with targets of 1.5700 to 1.5750

RSI (14), MACD (12, 26), ROC, ADX (14), STOCHRSI (14) indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 1.5551 while Resistance is at 1.5700

22st May 2015 – 04:47hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 22nd May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD22may15_zpsnyhtfid5.png

AUDUSD is in a Bullish tone in the Asian trading session trading above the 50day moving average. The near term bias is Neutral to Bullish within range of 0.7960 to 0.7990 with some correction expected in the European trading session.

STOCH (9, 6), ADX (14), CCI (14), MACD (12, 26), ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7876 while Resistance is at 0.7921 and 0.7949

22nd May 2015 – 04:52hrs GMT


USDJPY

USDJPY22may15_zpsyr2lp27u.png

USDJPY is trading lower in the Asian trading session below its 20day moving average. The near term bias remains Bearish with targets of 120.50 to 120.20

STOCH (9, 6), ADX (14), MACD (12, 26), ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 120.70 while Resistance is at 121.25

22nd May 2015 – 05:02hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 22nd May, 2015
By FxGrow Research & Analysis Team

Bank of Japan leaves monetary policies unchanged

bank-of-japan_zpsb0mig3g7.png

The Bank of Japan left monetary policies unchanged as its economy grew more than expected in the first quarter. Policymakers have kept the central bank's annual 80 trillion yen monetary easing programme in place after a two-day meeting.

BOJ stated that "private consumption has been resilient against the background of steady improvement in the employment and income situation. The year-on-year rate of increase in the CPI is likely to be around zero percent for the time being, due to the effects of the decline in energy prices".

In Eurozone, the negotiations between Greece, Germany and France have ended without any signs of an agreement to release the EUR 7.2billion in financial aid to Greece.

Greece’s new government is still to reach an agreement with its European creditors over its €240 billion bailout program. Rising concerns over the ability of the Greek government to repay its debts and remain in the Euro is worrying investors worldwide.

In US Existing home sales fell by 3.3% to 5.04 million while market expectations were at 5.23 million. US initial claims rose by 10k to 274,000 in the week ending May 16, 2015.

Germany’s GDP rose to 0.3% in line with the analyst expectations. According to the data the German's economy entered 2015 with a relaxed pace of expansion.
In Euro Zone Manufacturing Activity continues to recover as services sector enjoyed a healthy expansion.

ECB stated that "Overall, members agreed that emphasis needed to be placed on a steady course of monetary policy" and that the central bank's asset buying programme yielded intended results.

In news coming from Greece it says that it expects to reach a deal with its creditors within 10 days and meet all its payments in June.

NYMEX Crude is down in Asia to $60.65 as investors await US data on drilling activity.

Gold prices have bounced in Asia currently trading at 1208.96 while Silver is strong at 17.19

22nd May 2015 – 07:19hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 25th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD25may15_zpshtei0gqb.png

EURUSD came into a bearish trend on Friday coming down below its 20day moving average. The pair is currently trading at 1.0978 in the Asian trading session. The near term bias remains bearish with targets of 1.0950 to 1.900

MACD (12, 26), RSI (14), ADX (14), CCI (14), ROC indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.0964 while Resistance is at 1.1065

25th May 2015 – 05:26hrs GMT



GBPUSD

GBPUSD25may15_zpsej1plv6u.png

GBPUSD started its bearish trend on Friday coming below its 20day moving average. The pair is trading at 1.5475 in the Asian trading session. The near term bias remains bearish with targets of 1.5450 to 1.5400

RSI (14), MACD (12, 26), ROC, ADX (14), indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.5456 while Resistance is at 1.5521

25th May 2015 – 05:33hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 25th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD25may15_zpsknwwlhkh.png

AUDUSD came down on Friday and is trading below its 20day moving average of 0.7828 The correction has subdued in the Asian trading session with the pair trading at 0.7817 The near term bias is Neutral to Bearish within range of 0.7830 to 0.7750

STOCH (9, 6), CCI (14) are Neutral; RSI (14), MACD (12, 26), ROC indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7802 while Resistance is at 0.7851 and 0.7860

25th May 2015 – 05:44hrs GMT


USDJPY

USDJPY25may15_zpspdwo2v6t.png

USDJPY is in continuation of its Bullish trend with the pair trading above its 20day moving average in the Asian trading session. The near term bias remains Bullish with targets of 122.00

STOCH (9, 6), CCI (14), MACD (12, 26), ROC indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 120.82 while Resistance is at 121.77

25th May 2015 – 05:49hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 25th May, 2015
By FxGrow Research & Analysis Team

Euro under pressure as Greece is set to default on Debt Repayment Loans

greek1_zpsge7syw2p.png

Greece is set to default on Debt repayment loans of €1.6billion which are due to IMF next month as it does not have the funds.

Greek Interior minister, Nikos Voutsis said that Greece needs to strike a deal with its European creditors soon or it would default on repayments to the International Monetary Fund. He said "This money will not be given and is not there to be given.”

If Greece is unable to repay its loans to the IMF, it would deepen the country’s economic crisis, force capital controls and foreclosure of Greek banks.

Euro is under pressure as Greek debt issue remains unresolved trading at 1.0976 in the Asian trading session. Outcome of the elections in Spain also weigh down on Euro with expectations of low liquidity amid market holidays in the UK, Germany and the US.

In USA Consumer Price Index rose 0.1% in the month of April, while CPI YoY rate remained negative, at -0.2% in April. The annual increase in core prices remained unchanged at 1.8%.

US Core Inflation in April, excluding Food and Energy, showed the biggest gain since January 2013.

Federal Reserve Chairwoman Janet Yellen said on Friday "If the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target".

With upbeat US Inflation data and comments made by Yellen US Dollar strengthened against its major counterparts on Friday with EURUSD falling more than 200pips from its high of 1.1197

Crude Oil is trading at $59.60 on account of strong US Dollar ahead of US holiday.

Gold prices are flat in Asia at 1203.57 on the prospect of a Federal Reserve rate hike this year while Silver is down at 17.02

25th May 2015 – 08:09hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 26th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD26may15_zpskrlwzvua.png

EURUSD continues its bearish trend trading below its 20day moving average of 1.0966 The pair is currently trading at 1.0933 in the Asian trading session. The near term bias remains bearish with targets of 1.0900 to 1.0850

MACD (12, 26), RSI (14), ADX (14), CCI (14), ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.0926 while Resistance is at 1.0959

26th May 2015 – 05:40hrs GMT

GBPUSD

GBPUSD26may15_zpswab3rzqt.png

GBPUSD remains in a bearish trend trading below its 20day moving average of 1.5464 The pair is trading at 1.5449 in the Asian trading session. The near term bias remains bearish with targets of 1.5400 to 1.5350

RSI (14), MACD (12, 26), ROC, ADX (14), indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.5430 while Resistance is at 1.5497

26th May 2015 – 05:57hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 26th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD26may15_zpsgtikehbk.png

AUDUSD is in a consolidation phase trading below its 50day moving average of 0.7838 The pair is trading at 0.7828 in the Asian trading session. The near term bias is Neutral to Bearish within range of 0.7800 to 0.7750

RSI (14) is Neutral; STOCH (9, 6), STOCHRSI (14), CCI (14), ROC indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 0.7802 while Resistance is at 0.7840

26th May 2015 – 06:04hrs GMT


USDJPY

USDJPY26may15_zpspqjagxvl.png

USDJPY is in continuation of its Bullish trend with the pair trading above its 20day moving average of 121.63 in the Asian trading session. The near term bias remains Bullish with targets of 122.40

STOCH (9, 6), CCI (14), MACD (12, 26), ROC indicate a BUY; STOCHRSI (14), RSI (14) are Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 121.47 while Resistance is at 121.98

26th May 2015 – 06:07hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 26th May, 2015
By FxGrow Research & Analysis Team

US Dollar strong on prospects of a FED Rate Hike

Fed1_zpsnrwpxqdc.png

Federal Reserve Vice Chairman Stanley Fischer said on Monday that "If the US Economy is growing very, very slowly we will wait. If the economy is growing faster we will do it quicker".

Fischer said that FED expects the interest rate will reach 3.25 to 4 percent by 2017-2018.

He further stated - "What we are thinking about is raising the interest rate from zero, which is an ultra-expansionary monetary policy to a quarter percent, which is an extremely expansionary monetary policy. This will be a gradual process".

US Dollar continues its Bull Run as Federal Reserve keeps its door open for a Fed rate hike.

Euro has dropped below 1.0900 in the Asian trading session amid fears of Greece inability to pay the IMF loan next week and the outcome of the Spanish regional elections.

Meanwhile Greek debt talks have resumed and officials have expressed confidence that Greece was close to a deal with its European creditors.

In Athens, government spokesman Gavriil Sakellaridis stated "We want to be consistent with our obligations and so we are striving for a deal so the economy can get some relief".

The US Dollar hit an eight-year high of 122.68 against the yen as it is expected that Federal Reserve will raise interest rates later this year.

Bank of Japan Governor Haruhiko Kuroda stated "The latest data point can be interpreted as confirming that underlying inflation in Japan has been improving significantly, although the firmness is currently masked by the temporary negative impact of the sharp decline in oil prices".

The New Zealand dollar lost ground as its Trade Surplus shrank in April due to decline in its exports to China. New Zealand's trade surplus shrank to NZ$123 million in April while analyst expectations were at $NZ100 million.

Crude Oil is trading at $59.40 after Iran's Oil Minister stated that the OPEC will maintain its monthly oil production limit.

Gold prices are lower in Asia at 1196.25 on the prospect of a Federal Reserve rate hike this year while Silver is down at 16.80

26th May 2015 – 08:31hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 27th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD27may15_zpscauobw85.png

EURUSD had a bearish trend yesterday touching a low of 1.0862; in the Asian trading session the pair has recovered and is trading at 1.0912 above its 20day moving average. The near term bias remains Neutral to Bullish with targets of 1.0950 to 1.0980

RSI (14), ADX (14), ROC, Ultimate Oscillator indicate a BUY; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.0862 while Resistance is at 1.0926

27th May 2015 – 06:16hrs GMT


GBPUSD

GBPUSD27may15_zpseopomrpl.png

GBPUSD had a bearish trend yesterday touching a low of 1.5353; in the Asian trading session the pair has recovered and is trading at 1.5425 above its 20day moving average. The near term bias remains Neutral to Bullish with targets of 1.5450 to 1.5470

RSI (14), ROC, Ultimate Oscillator indicate a BUY; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.5352 while Resistance is at 1.5456 and 1.5479

27th May 2015 – 06:19hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 27th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD27may15_zps4fdqbtvh.png

AUDUSD had a bearish trend yesterday touching a low of 0.7724; the pair has recovered in the Asian trading session trading at 0.7763 above its 20day moving average. The near term bias is Neutral to Bullish with targets of 0.7800

STOCH (9, 6), ADX (14), CCI (14), ROC, Ultimate Oscillator indicate a BUY; RSI (14) is Neutral; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7725 while Resistance is at 0.7801

27th May 2015 – 06:26hrs GMT


USDJPY

USDJPY27may15_zpsvq6a3ign.png

USDJPY had a bullish trend yesterday touching a high of 123.31; the pair is trading lower at 122.92 in the Asian trading session below its 20day moving average. The near term bias remains Neutral to Bearish with targets of 122.50

STOCH (9, 6), ADX (14) are Neutral; CCI (14), Ultimate Oscillator indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 121.77 while Resistance is at 123.31

27th May 2015 – 06:34hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 27th May, 2015
By FxGrow Research & Analysis Team

Greek Talks Continue with G7 meeting in Dresden

greece3_zpsusuxkuxd.png

G7 Finance ministers and Central bank chiefs begin a three-day meeting in Dresden today. Greece will be discussed and markets are looking for cues from the today’s meeting.

As time is running out Greece is close to a default on its next debt repayment to the International Monetary Fund.

Greece needs to repay €300m on 5 June, with €1.6 billion in total due to be repaid to the IMF next month. An official from Eurozone stated β€œThere is the possibility of putting together several payments that Greece would need to make to the IMF in the course of June and then just make one payment.”

The Greek finance minister Yanis Varoufakis said ""It would be a disaster for everyone involved. It would be a disaster primarily for the Greek social economy, but it would also be the beginning of the end of the common currency project in Europe".

The IMF's MD Christine Lagarde said that an extension will not be granted, even with additional economic reforms, and that no developed nation has defaulted on the IMF in 30 years.
In UK retail sales growth surged in May to +51 while analyst expectations were at +17.

UK Confederation of British Industry's Director said "Low inflation, which we expect to remain below 1% for the rest of the year, has given household incomes a much-needed boost and greater spending power".

Bank of Japan said that risks to Inflation are on the downside and Growth is slow.

According to the minutes released by BOJ "With regard to the baseline scenario for prices, many members expressed the view that there was considerable uncertainty, mainly in developments in medium- to long-term inflation expectations, and risks on the price front were skewed to the downside".

FED Vice Chairman Stanley Fischer stated "The tightening of U.S. policy will begin only when the US expansion has advanced far enough - when we have seen further improvement in the labor market and when we are reasonably confident that the inflation rate will rise to our 2% goal. If foreign growth is weaker than anticipated, the consequences for the US economy could lead the Fed to remove accommodation more slowly than otherwise".

Crude Oil is trading lower at $58.90 on account of strong US Dollar.

Gold prices are lower in Asia at 1188.99 while Silver is flat at 16.78

27th May 2015 – 08:40hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 28th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD28may15.png

EURUSD came down yesterday to touch a low of 1.0819 and since then it has recovered trading above its 20day moving average at 1.0922 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.0960 to 1.0980

RSI (14), ADX (14), CCI (14), MACD (12, 26), ROC, Ultimate Oscillator indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.0818 while Resistance is at 1.0947

28th May 2015 – 05:54hrs GMT


GBPUSD

GBPUSD28may15.png

GBPUSD came down yesterday touching a low of 1.5300 and has pulled back above its 20day moving average to trade at 1.5365 in the Asian trading session. The near term bias remains Neutral to Bullish with sideways movements expected in the European trading session.

RSI (14) is Neutral; STOCHRSI (14) is Overbought; STOCH (9, 6), ADX (14), CCI (14), ROC indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 1.5300 while Resistance is at 1.5392 and 1.5396

28th May 2015 – 06:02hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 28th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD28may15.png

AUDUSD continues its bearish trend trading below its 20day moving average of 0.7713; currently the pair is trading at 0.7704 in the Asian trading session. The near term bias remains bearish with targets of 0.7650

RSI (14), STOCH (9, 6), STOCHRSI (14), MACD (12, 26), ROC indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 0.7660 while Resistance is at 0.7748

28th May 2015 – 06:20hrs GMT


USDJPY

USDJPY28may15.png

USDJPY continued its bullish trend yesterday touching a high of 124.21; the pair is trading lower at 123.74 in the Asian trading session just above its 20day moving average of 123.80; the near term bias remains Neutral but overall scenario remains Bullish.

RSI (14), STOCH (9, 6), ADX (14), CCI (14) are Neutral; MACD (12, 26) indicates a BUY; while Average True Range (14) indicates High Volatility.

Support is at 122.76 while Resistance is at 124.28

28th May 2015 – 06:26hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 28th May, 2015
By FxGrow Research & Analysis Team

Greek deal hopes lift Euro, Greek bonds, Markets

greece5.png

European stocks, Greek bonds and Euro are moving higher as news reports from Bloomberg have indicated that Greece is close to reach a deal with its European creditors.

Globally markets are recovering with Major Indices ending in Green, and Euro is trading at 1.0926 up 100 pips from the yesterday's low of 1.0818

Greek Prime Minister Alexis Tsipras said "We have made many steps. We are on the final stretch towards a positive deal. This agreement will be positive for the Greek economy, this agreement will redistribute the financial burdens and I believe that, very soon, we will be in a position to present more information".

The Bank of Canada kept its rate unchanged at 0.75% as per the market expectations.
BOC stated "Despite the recent back-up in global bond yields financial conditions for Canadian households and firms remain highly simulative. The Canadian dollar has strengthened in recent weeks in the context of higher oil prices and a softer U.S. dollar".

In Japan's Retail Sales rose to 5% from the previous year and USDJPY hits a 13 year high of 124.30 on the backdrop of economic recovery in the US and expectations of a FED rate hike later this year.

In Germany Consumers’ confidence reached the highest level since 2001. The GfK Consumer sentiment rose to 10.2 in May. Very robust domestic demand in Germany and low inflation rates have caused economic expectations and willingness to buy to further improve again.

Tough negotiations on the future of Greece in the euro area, the Ukraine crisis, and IS terrorism could noticeably dampen consumption in Germany.

Crude Oil is trading lower at $57.96 on account of strong US Dollar.
Gold prices are lower in Asia at 1190.04 while Silver has recovered its losses at 16.72

28th May 2015 – 09:03hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 29th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD29may15_zps7sjgaetg.png

EURUSD is in a bullish trend and touched a high of 1.0973 yesterday, and is trading just at its 20day moving average of 1.0939 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.0980 to 1.1000

RSI (14), CCI (14) are Neutral; ADX (14), MACD (12, 26), ROC indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.0926 while Resistance is at 1.0973

29th May 2015 – 06:41hrs GMT

GBPUSD

GBPUSD29may15_zps0wsote3j.png

GBPUSD continued in its bearish trend yesterday touching a low of 1.5264 and is trading just at its 20day moving average of 1.5312 in the Asian trading session. The near term bias remains Neutral to bearish with sideways movements expected in the European trading session.

RSI (14), CCI (14) are Neutral; STOCHRSI (14), MACD (12, 26), Ultimate Oscillator indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.5259 while Resistance is at 1.5341 and 1.5352

29th May 2015 – 06:49hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 29th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD29may15_zpssjwsmfiz.png

AUDUSD continued its bearish trend yesterday and touched a low of 0.7619; since then it has recovered and is trading just near its 20day moving average of 0.7651 in the Asian trading session. The near term bias remains Neutral to bearish with targets of 0.7600

RSI (14), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a SELL; ADX(14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 0.7616 while Resistance is at 0.7738

29th May 2015 – 06:56hrs GMT


USDJPY

USDJPY29may15_zpsi6s5eu3z.png

USDJPY had a bullish trend yesterday and touched a high of 124.45 but since then it has come down to trade just at its 20day moving average of 123.93 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 124.50

RSI (14), ADX (14) are Neutral; MACD (12, 26), CCI (14), ROC, Ultimate Oscillator, MA200 indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 123.59 while Resistance is at 124.45

29th May 2015 – 07:01hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 29th May, 2015
By FxGrow Research & Analysis Team

US Initial Jobless Claims Rise, Pending Home Sales reach a 9-Year High

usa1_zpss0fiqub0.png

In US the number of Americans filing for Initial Jobless benefits rose last week to 282K while analyst expectations were at 270K.

US pending home sales soared to a nine-year high in April in a strong start to the prime spring season, according to the National Association of Realtors. The National Association of Realtors said its Pending Home Sales Index rose 3.4% in April to a level of 108.7 which is the highest level since May 2006.

Jim O'Sullivan, US economist said "Housing is an important reason why the trend in growth looks much stronger for non-manufacturing and the overall economy, than for manufacturing now".

This uptrend in home sales came after a growth in US Jobs sector, which has increased demand to buy houses.

UK GDP expanded by 0.3% while analyst expectations were for a 0.4% increase. Economic growth slowed due to the service sector performing worse than expected and a widening UK trade deficit.

In Japan Inflation and Industrial production increased more than expected. Japan's Industrial production increased 1.0% in April, while inflation data showed the CPI moving higher 0.2% in May.

USD/JPY is steady at 13-year highs due to increased demand for US Dollar and the indications that the US economy is gaining momentum after a slowdown in the first quarter.

NZDUSD fell to 0.7115 undermined by New Zealand's lac of business optimism and estimates of inflation below the central bank's target.

In a report, European Central Bank said that Euro Zone M3 Money Supply rose to 5.3%. It is the amount of domestic currency in circulation and deposited in banks.

The Euro Zone Consumer and Business Confidence was stable in May at 103.8, overall economic sentiment was mixed across the Euro zone. While it improved in Germany, France, and the Netherlands, it dropped in Italy and Greece.

Howard Archer, Chief UK and European Economist said "The fact that overall Eurozone economic sentiment held up well in May could ease concern that the Eurozone's recovery is starting to flag as the recent stimulus it has received is diluted by a recent firming in the euro, oil prices and bond yields from very low levels".

Crude Oil is trading higher at $58.60 after US Crude Stockpile fell for 4th Week.

Gold is trading stronger in the Asia at 1189.63 while Silver has recovered its losses at 16.75

29th May 2015 – 09:32hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 01st June, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD01June15_zpshbsdz0wa.png

EURUSD closed the weekend higher at 1.0989 but has now entered the bearish trend trading below its 20day moving average of 1.0969 in the Asian trading session. The near term bias remains Neutral to Bearish with targets of 1.0900 to 1.0880

RSI (14), MACD (12, 26) are Neutral; ADX (14), STOCHRSI (14), CCI (14), STOCH (9, 6), ADX (14), ROC indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.0928 while Resistance is at 1.1005

01st June 2015 – 06:50hrs GMT


GBPUSD

GBPUSD01June15_zpsysfrftpf.png

GBPUSD continued in its bearish trend last week touching a low of 1.5235 and is trading below its 20day moving average of 1.5283 in the Asian trading session. The near term bias remains Neutral to Bearish with targets of 1.5200

RSI (14), CCI (14), ADX (14) are Neutral; STOCHRSI (14), MACD (12, 26), MA200 indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.5235 while Resistance is at 1.5332

01st June 2015 – 06:56hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 01st June, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD01June15_zpsqry6ap5o.png

AUDUSD remained bearish last week touching a low of 0.7619; since then it has recovered and is trading above its 20day moving average of 0.7651 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 0.7700

MACD (12, 26) is Neutral; RSI (14), STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, MA50, ADX (14) indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 0.7624 while Resistance is at 0.7673

01st June 2015 – 07:02hrs GMT


USDJPY

USDJPY01June15_zps6lixsewg.png

USDJPY had a Bullish tone last week touching a high of 124.45; but since then it has come down and is trading above its 20day moving average of 124.10 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 124.50 to 124.75

STOCHRSI (14), CCI (14) are Neutral; RSI (14), MACD (12, 26), ROC, Ultimate Oscillator, MA100, MA200 indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 123.59 while Resistance is at 124.33

01st June 2015 – 07:21hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Market Analysis – 01st June, 2015
By FxGrow Research & Analysis Team

Euro Drops amid ongoing Greece talks

euro1_zps9dkqsmrg.png

Euro is trading lower against all its counterparts amid concerns that Greece will be unable to repay over €300 million due to the IMF on June 5 and a possible exit from the Eurozone.

Euro recovery seems to have lost steam as concerns are rising over a possible Greek default if it is unable to reach a deal with its European creditors soon. Greek negotiations are going on as its creditors are pressing for action in areas including the pension system, labor market and sales tax.

Greek Prime Minister Alexis Tsipras has said β€œThe lack of an agreement so far is not due to the supposed intransigent, uncompromising and incomprehensible Greek stance. It is due to the insistence of certain institutional actors on submitting absurd proposals and displaying a total indifference to the recent democratic choice of the Greek people".

Germany's EU Commissioner Guenter Oettinger said "We will need progress at the working group level, in order that we can agree on a reform agenda, perhaps even by the end of the week, which would trigger the payment of the last tranche of aid from the current aid program".

"Greek debt yields provide only a rough guide, and although a missed deadline will not spell default, market concern remains high. It's difficult to quantify how much the currency market has factored in the possibility of Greece missing the June 5 repayment deadline" said Shinichiro Kadota, chief Japan Forex strategist at Barclays in Tokyo.

China HSBC Manufacturing PMI for May came at 49.2 in line with analyst expectations.

Annabel Fiddes, Economist at Markit, on the HSBC PMI, said it "signaled a further deterioration in the health of China's manufacturing sector in May."

In Japan, capital spending for non-financial firms jumped 7.3% in the first quarter, while Japan manufacturing for May was steady at 50.9 as expected.

Euro zone’s Manufacturing PMI fell to 52.2 while analyst expectations were at 52.3

Germany’s Manufacturing PMI fell to 51.1 while analyst expectations were at 51.4

Crude Oil is trading higher at $59.85 as traders await OPEC meeting in Vienna on June 5.

Gold is trading lower in the Asia at 1187.22 while Silver has recovered its losses at 16.68

01st June 2015 – 09:31hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Daily Technical Analysis – 02nd June, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD02June15_zpsb7w7hndj.png

EURUSD touched a low of 1.0886 yesterday but has recovered since then and has now entered the bullish trend trading above its 20day moving average of 1.0929 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.0970 to 1.1000

RSI (14) is Neutral; ADX (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.0912 while Resistance is at 1.0956

02nd June 2015 – 06:51hrs GMT


GBPUSD

GBPUSD02June15_zpsfmutkg65.png

GBPUSD had a bearish trend yesterday and touched a low of 1.5169 but has recovered since then and has now entered the bullish trend trading above its 20day moving average of 1.5208 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.5240 to 1.5260

RSI (14), STOCH (9, 6) are Neutral; ADX (14), Ultimate Oscillator, ROC, MA20 indicate a BUY; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.5169 while Resistance is at 1.5269

02nd June 2015 – 06:56hrs GMT

For more in depth Research & 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.


Daily Technical Analysis – 02nd June, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD02June15_zpsj5j4uaie.png

AUDUSD had a bearish trend yesterday touching a low of 0.7598 but has recovered since then and has now entered the bullish trend trading above its 20day moving average of 0.7630 in the Asian trading session. The near term bias remains Bullish with targets of 0.7750

STOCH (9, 6) is Neutral; STOCHRSI (14), RSI (14), CCI (14) are Overbought; MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 0.7625 while Resistance is at 0.7712

02nd June 2015 – 07:07hrs GMT


USDJPY

USDJPY02June15_zpsiiyph766.png

USDJPY had a Bullish tone yesterday touching a high of 124.90 but since then it has come down and is trading below its 20day moving average of 124.67 in the Asian trading session. The near term bias remains Neutral to Bearish with targets of 124.30 to 124.10

RSI (14) is Neutral; STOCH (9, 6), CCI (14), ADX (14), ROC, Ultimate Oscillator indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 123.59 while Resistance is at 124.33

02nd June 2015 – 07:12hrs GMT

For more in depth Research & 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.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • πŸ‘ Join TopGold.Forum Now

    We ConnectΒ  Money Makers With TOPΒ Earning Opportunities!

    Join over 25,000 members and 700 businessesΒ on their journey to strike GOLD.Β πŸ’°πŸΎπŸ‘

    πŸ‘© Want to make money online?Β 
    πŸ’Ό Represent a company?Β 

‴️-Paid Ad- TGF approve this banner. Add your banner here.πŸ”₯

Γ—
Γ—
  • Create New...