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FxGrow Support

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  1. FxGrow Daily Technical Analysis – 21st July, 2017 By FxGrow Research & Analysis Team Daily Technical Market Overview EUR/USD Intraday: the bias remains bullish. Pivot: 1.1585 Our preference: long positions above 1.1585 with targets at 1.1660 & 1.1685 in extension. Alternative scenario: below 1.1585 look for further downside with 1.1535 & 1.1495 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. GBP/USD Intraday: under pressure. Pivot: 1.3000 Our preference: short positions below 1.3000 with targets at 1.2930 & 1.2900 in extension. Alternative scenario: above 1.3000 look for further upside with 1.3030 & 1.3055 as targets. Comment: as long as 1.3000 is resistance, look for choppy price action with a bearish bias. USD/JPY Intraday: key resistance at 112.10. ... 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.
  2. FxGrow Daily Technical Analysis – 20th July, 2017 By FxGrow Research & Analysis Team GBP/USD Trading Flat Ahead of UK Retails Sales GBP/USD has traded 18-pips on Thursday with 1.3014 low. The pair was on selloff wave on Tuesday after receiving negative UK CPI, but still the pair is bullish as dips still fight 1.3000 level with a constant re-bounce and calling for further pressings if we still consider recent daily candles as a correction phase. The pair is still trading above 10-EMA (1.2990), currently 1.3034 intraday. Sterling bullish momentum awaits UK Retail Sales to be released shortly (8:30 AM GMT) which justifies low price action today. Carney precious statements regarding BOE interest rates tapering was tackled on Tuesday as data and statement were opposed, but Retails Sales today will give a better view on how BOE is ... 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.
  3. FxGrow Daily Technical Analysis – 20th July, 2017 By FxGrow Research & Analysis Team USD/JPY Testing 50-EMA, Awaiting U.S Unemployment Data USD/JPY digested yesterday losses and surged 40-pips on Thursday's Asian session with 1.1217 high for today. Currently the pair is trading 112.10, hovering at 50-EMA at 112.05 preferring sideways trend and awaiting cautiously for further intake as U.S releases data on NY opening sessions. BOJ, as expected kept rates at current minus 0.1%, pushing back inflation target for sixth time and keeping policy steady with a bit hawkish stance contaminating USD/JPY spikes. Kuroda, BOJ Gov. will cross wires shortly with expectations that answers will be consistent with earlier statement but still, traders has to decipher words in case Kuroda got market off-guard. On the other hand, the pair price action will undergo ... 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.
  4. FxGrow Daily Technical Analysis – 19th July, 2017 By FxGrow Research & Analysis Team Aussie: Chances For Further Gains Ahead of Unemployment Rate Australian Dollar extended the intensive inclines, searching for newer highs as AUD/USD clocks multi years 0.7947 today. The pair uptrend found support by recent hawish RBA statement, positive Chinese GDP on Monday opening session, and continuous collapsing U.S Dollar as the Index with 94.26 low yesterday. The pair awaits vital data as Australia releases Unemployment Rate on Tuesday opening session. Expectations are at ... 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.
  5. FxGrow Daily Technical Analysis – 19th July, 2017 By FxGrow Research & Analysis Team Global Glut Output Still Pressure Oil Levels Despite OPEC Efforts, Eyes on U.S Inventories Crude Oil still fails to close above $47 level, developing a habit with a sharp slip as a phobia. Through out July, crude oil was seen flirting with $47.00+, and yesterday, oil peaked to $47.12, giving potential for further advance, then failed to guard gains and closed at $46.41. Currently oil is trading at 50-EMA level at $46.46 intraday, and in case market closes above it, we could see some further gains in the coming days. Fundamentally, market is still receiving mix signals between OPEC pledging for further actions to curb global output and U.S increasing inventories that was reported yesterday. Libya and Nigeria has exceeded previous June levels with a report showing that both countries recorded a 3M bpd yesterday. Saudi Arabia, along with other OPEC countries still ... 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.
  6. FxGrow Daily Technical Analysis – 19th July, 2017 By FxGrow Research & Analysis Team FxGrow: Forex Market Technical Overview EUR/USD: Potential For 1.1585 high Pivot: 1.1510 Our preference: long positions above 1.1510 with targets at 1.1565 & 1.1585 in extension. Alternative scenario: below 1.1510 look for further downside with 1.1485 & 1.1470 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. GBP/USD Remains Under Pressure By Yesterday's Negative CPI Pivot: 1.3060 Our preference: short positions below 1.3060 with targets at 1.3000 & 1.2950 in extension. Alternative scenario: above 1.3060 look for further upside with 1.3085 & 1.3115 as targets. Comment: the RSI is mixed to bearish. USD/JPY Intraday: key resistance at 112.40 Pivot: 112.40 Our preference: short positions below 112.40 with targets at 111.75 & 111.50 in extension. Alternative scenario: above 112.40 look for further upside with 112.85 & 113.15 as targets. Comment: the RSI is mixed to bearish. AUD/USD: The Upside Prevails With 2017 New Highs Pivot: 0.7865 Our preference: long positions above 0.7865 with targets at 0.7950 & 0.7990 in extension. Alternative scenario: below 0.7865 look for further downside with 0.7835 & 0.7785 as targets. Comment: the RSI is mixed to bullish. Gold Extends Bullish Momentum Supported by Rising Trendline Pivot: 1238.00 Our preference: long positions above 1238.00 with targets at 1247.00 & 1250.00 in extension. Alternative scenario: below 1238.00 look for further downside with 1232.50 & 1227.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. 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.
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  8. FxGrow Daily Technical Analysis – 18th July, 2017 By FxGrow Research & Analysis Team Sterling Inches Higher Ahead of Multi Inflation Figures GBP/USD extended the bullish momentum today after a remarkable home-run on Friday with 1.3113 2017 news-highs. Yesterday, the pair made a correction plunging to 1.3046, resting daily RSI to 60 level, then rewarded losses clocking 1.3099 high ahead of major inflation data to be released today which could fuel GBP/USD for a newer high record in case of a positive UK CPI associated with previous hawkish speech by Carney, head of BOE. Add to that, U.S Dollar continues digging lower with 94.49 2017 fresh-low. Expectations of further tumbling for the U.S Index in the coming days as Reuters reported a setback yesterday for health care program and a major conflict among Republicans regarding the system. UK Data, after a release, will be followed by Gov. Carney in the afternoon with expectation for a hawkish tone supporting Sterling sharp tone facing pace buck, but still UK CPI will set the tone for Carney. Analysts at Nomura Securities - the global financial services giant - say the Bank of England will raise interest rates by ... 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.
  9. FxGrow Daily Technical Analysis – 17th July, 2017 By FxGrow Research & Analysis Team EUR/USD Pushes Higher As The Buck Reaches Lower, CPI Eyed EUR/USD bullish trend is sustained supported by U.S Negative released on Friday, with disappointing CPI as Yellen mentioned that any tapering with Rates and U.S Federal balance sheet will be subject to economic data (U.S Data on Friday). As a result, the pair rallied from 1.1391 low on Friday, extended weaker gains this week with a higher high by 5-pips and 1.1475 peak for today. Currently, the pair is trading 1.1448, awaiting vital data as EU releases Final CPI y/y. ECB will release a statement this Thursday along with Interest Rates decision which makes today's data articular. Draghi has mentioned for a potential change or increasing rates, if not, Quantitative Easing program edition which is currently attracting EUR/USD fever buyers, hence the pair dwelling high above. As for the buck, the U.S Index looks helpless with a yearly low at 94.83 for today. Fundamentals: 1- EUR - Findal CPI and Core CPI today at 9:00 AM GMT. Technical Overview: Trend: Up Target: 1.1580 Resistance levels: R1 1.1485+ , R2 1.1528, R3 1.1560+/- (D1) Support levels: S1 1.1459, S2 1.1440, S3 1.1391 (D1) Comment EUR Future: The market is bullish, still signalling for a run to 1.1580+. A pop over last week's reversal high will spark the extension to 1.1580. Be prepared for additional near term corrective action along 1.1450 to continue developing a staging level for rallies. Only a close under 1.1391* marks a near term peak and signals for retracement to attack 1.1308* for a larger downturn. Daily RSI is at 62 , Hourly RSI at 51, which gives the pair space to push higher than Friday's high. 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.
  10. FxGrow Daily Technical Analysis – 14th July, 2017 By FxGrow Research & Analysis Team Futures Technical Overview Ahead of U.S Data Release U.S is set to release multi inflation figure with CPI and Core CPI in focus. Yesterday, market reaction to Yellen speech was mostly neutral, but what make today's data vital is that Yellen couldn't deliver clear signs about two main issues driving the market. First coming rate hikes and U.S Federal balance sheet. Both, will be subject to economic cycle performance and data should be watched in case the U.S Fed could take a decision regarding them. Hence, today's data will be watched closely by markets and based on results, traders will take action with expectation for high volatility than the previous days. The main focus will be on CPI and Core CPI as they have more impact on the interest rates in case a decision to be taken. The Fed chair is not speaking Friday, but Yellen's surprising comments on inflation in congressional testimony this week make Friday's CPI an even hotter topic for markets than it normally would be. CPI is expected to rise by a slight 0.1 percent on headline inflation. (CNBC). Technical levels for future currencies: SEP B-POUND Currently: 12971 Target: None Resistance: 12977*, 13047+ 12933, Support: 12894-90, 12849 Trend: Sdwys/Up Trend Reversal: 1.2802 Comment The market remains short term bullish and yesterday's rally alerts for a preliminary upturn from recent corrections. Trade is poised to launch secondary rallies and a close over 12977* will spark a run to attack over the 13092 high. Any further dips should hold over Wednesday's low to keep a bull alignment. A drop under 12839 targets a drop to 12802* support. SEP EURO Currently: 114435 Target: 11580 Resistance: 11490, 11515+, 11580 Support: 11413-12, 11391* Trend: Up Trend Reversal: 113.085 Comment The market is bullish, still signaling for a run to 11580+. A pop over Wednesday's reversal high will spark the extension to 11580. Be prepared for additional near term corrective action today, but only a close under 11391* marks a near term peak and signals for retracements to attack 113085* for a larger downturn. SEP J-YEN Currently: 88545 Target: None Resistance: 8879-8885, 8959* Support: 8838, 8805, 8760- Trend: Down Trend Reversal: 8959 Comment: Overall the market is short term bearish. A roll off back through 8800- is negative. A close under the 8760 May low alerts for a larger bear wave near 8700. Wednesday's corrective action hints for near rebounds. A push over 8885 will boost rallies. A close over 8959* is needed to trigger a reversing turn and we should suspect a setback from 8959* on the first test. SEP SWISS Currently (10381) Target: None Resistance: 10411, 10444-57*, Support: 10483 10380*-, 10326- Trend: Sdwys Trend Reversal Point: 103.80 Comment The market is still bullish and climb over last week's 10483 high or close over 10457* are needed to recapture bull forces and renew the projection to 10700+. However, note yesterday's close is against 10380* support which must hold to maintain bull trend forces. A close under 10380* is bearish, alerting for a selling wave under 10300-. SEP US DOLLAR Currently: (95508) Target: 9507 Resistance: 95915, 9614, 96645* Support: 9530-, 9507 Trend: Down Trend Reversal: 96.645 Comment The market is bearish, still suggesting selloffs to reach for 9507. Last week's flagging action leaves trade ready to initiate the flagging downturn. A close under 9507 could add washouts to 9450-9400. Minor recovery action trapped inside this week's range will maintain bear forces. A rebound over 9596 is near term positive, but only a close over 96645* signals a lasting turn to higher prices. SEP AUSSIE$ Currently: (7725) Target: 7818 Resistance: 7818 Support:7699, 7685, 7668* Trend: Up Trend Reversal: 7627 Comment Yesterday's rally highlights a significant upside breakout and opens up potential for rallies to 7818. Trade is poised for aggressive rallies. Any corrective dips that hold within yesterday's range will maintain strong bull forces and create a staging level for rallies. Only a close under 7668* warns for a multi-day correction phase back down to 7627*. AUG GOLD Currently 121640 Target: 118920 Resistance: 122350-122420, 122830* Support: 121460-00, 1208-, 119940 Trend: Down Trend Reversal: 1238.60 Comment The market remains in a downturn and holds potential below 1200-. A flagging downturn from current corrections calls for aggressive selloffs. Near term corrections that stall in the 1220's will reinforce the bear pattern. A close over 122830* is needed to stop the downturn and send rallies to 123860*. 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.
  11. FxGrow Daily Technical Analysis – 13th July, 2017 By FxGrow Research & Analysis Team Gold Remains Bearish Despite Recent Recovery, Eyes on U.S Data Gold plunged aggressively on Monday at 1204.90 on Monday sending a strong message that further downside yet prevails, but managed to make a correction phase extended till Thursday before clocking a 1225.15 yesterday sending signs of a potential bullish reversing trend. Current phase for gold should be a correction phase that holds potential for an uptrend, but unless gold closes above 1228 by daily chart or at least 4 hours candle stick, market should be prepared for an another aggressive selloff wave extended towards 1195+, with potential for 1190+. Fundamentally, Yellen speech yesterday kept the U.S Index on high volatility which had its effect on Gold, and today, Yellen, along with U.S Data which will be released shortly will give a better outlook how market will react towards gold. In case gold broke closed closed below 1213, additional confirmation for further selloff waves, and in case gold failed to close above 1228, then trend will be sideways until further notice. 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.
  12. FxGrow Daily Technical Analysis – 13th July, 2017 By FxGrow Research & Analysis Team EUR/USD Surges Higher Ahead of Local CPI Data EUR/USD inaugurated Asian trading sessions with +30-pips price action and clocked 1.1439 high as the greenback extends downtrend for today at 95.34 low. Yesterday, Yellen crossed and failed to give specifics as questions were addressed which left market confused and the DXY couldn't press forward and traded neutrally. Today, multi data on both EURO and USD which should shake the pair's movement, first German and French CPI shortly, followed on NY opening sessions with ... 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.
  13. FxGrow Daily Technical Analysis – 12th July, 2017 By FxGrow Research & Analysis Team USD/CAD Trading On An Expired BOC's Decision, Eyes on Poloz USD/CAD was on a heavy selloff wave ever since Gov. Poloz (June 28) hinted for a possible tapering with an increase by BOC interest rates by 0.25% to current 0.50%. Overall, the pair has lost 340-pips price action on Friday with 1.2859 low and daily RSI around 25 level, which indicates an oversold market with potential for correction phase in case USD/CAD wants to continue pressing downward. The pair started the correction phase since Monday with 1.2943 high yesterday, but current daily RSI is at 32 level which still indicates an oversold market. Today, expectations that BOC will deliver the rate ... 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.
  14. FxGrow Daily Technical Analysis – 12th July, 2017 By FxGrow Research & Analysis Team Crude Oil Inches Higher Over EIA Report, Awaiting U.S Inventories Crude Oil managed to add $2.36 bp since Monday and clocked $45.99 bp high supported by the U.S. Energy Information Administration report on Tuesday as it expects U.S. crude oil production to rise by less than previously forecast next year due to a lower price outlook, but remaining at record. Also, reports by Reuters mentioned that Saudi Arabia is due to decrease their oil exports to the lowest record during August. On the other hand, other fundamentals such as Libya and Nigeria (Non-OPEC) extended their oil production output, keeps market overloaded (glut) and oil rising prices at slower pace. Add to that, Iran's oil output will rise to ... Yesterday, Qatar signed a contract with Total French Company to develop Shahine field with $3.5B and could see oil production at 300,000 bp day. 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.
  15. FxGrow Daily Technical Analysis – 12th July, 2017 By FxGrow Research & Analysis Team GBP/USD Testing 50-EMA Ahead of Major Data GBP/USD extended the selloff wave since yesterday with 113-pips value loss, landing in 1.2810 low for now. The pair tested daily 50-EMA at 1.2820 with failure and in case market closing below, signs of bearish momentum will persist. MPC member Broadbent crossed wires yesterday with a dovish stance hinting for many current obstacles facing UK economic outlook, being inconsistent with Carney's recent hawkish speech, hence a negative wave still evolves for the cable. Fundamentally, the pair awaits major inflation reports shortly with two possible scenarios. A negative data will add more ... 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.

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