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Daily Technical Analysis By FxGrow.com

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Dear Forum Members!

Here you can find Daily Market Analysis of Currencies, Indexes, Metals, Oil and others.

We hope that this information will be helpful for your trading.

Best Regards
FxGrow Support

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Daily Market Analysis – 04th May, 2015
By FxGrow Research & Analysis Team

US ISM Manufacturing PMI at 51.5

The US ISM Manufacturing PMI remained at 51.5, well below market expectations of 52.0 for the month of April.

Activity in the US manufacturing sector showed slow growth in April 2015, while market expectations were for an increase to 52.0

US Construction spending declined by 0.6% in March 2015 while market expectations were for a 0.5% increase.

EURUSD is down from a High of 1.1220 to 1.1141 after Markit Eurozone Manufacturing PMI came out at 52.0 today.

GBPUSD slipped below 1.52 after the UK manufacturing PMI declined to 51.9, down from 54.0 in the preceding month ahead of UK elections on Thursday.

In the Asian trading session China's manufacturing PMI came in at 48.9 for April. Australian dollar is lower at 0.7835, amid expectations of RBA rate cut tomorrow.

Silver continues its consolidation to 16.32 while Gold is lower this morning at 1182.55

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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Daily Market Analysis – 05th May, 2015
By FxGrow Research & Analysis Team

RBA Cuts Interest Rates to Record Low

Reserve Bank of Australia cut its interest rates by 25 basis points to 2.0%, to provide further stimulus to the economy. Meanwhile Australia's trade balance has stayed in deficit of $1.3B.

AUDUSD rose to 0.7900 following the rate cut, amid speculation that the RBA may be unwilling to cut further.

The Australian dollar has declined against US dollar over the past year, due to the falling commodity prices.

EURUSD is trading lower at 1.1110 ahead Of the European Commission Economic Growth forecast due today.

Greek negotiations continue this week and a deal can be achieved by the Euro group meeting on 11 May, with Greece having to repay €763 million in loans to the IMF.

The U.K. election polls show both major parties Conservatives and Labour as being head-to-head arriving at overall majority is unlikely.

GBPUSD remains under pressure at 1.5105 before polls and uncertain UK election.

Gold rebounded from a 6-week low to 1188.65 after weak Chinese PMI, while Silver is flat this morning at 16.40

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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Daily Market Analysis – 06th May, 2015
By FxGrow Research & Analysis Team

Kiwi falls after Weak Employment Data

New Zealand Unemployment rate remains flat at 5.8 percent, while Employment growth slowed to 0.7%. Kiwi has been under some pressure after Reserve Bank of New Zealand signaled easing bias last month.

In the Asian trading session NZD/USD fell to 0.7480 after weaker than expected employment data.

In Australia, March retail sales rose less than expected to 0.3%. The Australian dollar gained to 0.7960 after China services PMI climbed to a 4-month high at 52.9

EURUSD is trading higher at 1.1230 ahead Of the Euro-Zone's Retail Sales Data. Greek debt talks with international creditors are making progress but no breakthrough yet.

U.S. trade deficit soared to $51.37 billion in March to its highest level. USD ISM Non-Manufacturing PMI rose to a five-month high of 57.8 in April.

GBPUSD crossed 1.5200 ahead of UK elections tomorrow. UK Construction PMI hits a 22 month low at 54.2

Crude Oil futures surged on NYMEX, WTI to $60 a barrel amid geopolitical tensions in Northern Africa and the Middle East.

Gold is trading higher at 1195.10 after broad decline in the global equity markets, with fresh demands for the safe-haven.

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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Daily Market Analysis – 07th May, 2015
By FxGrow Research & Analysis Team

German Bund yields lift Euro

German 10-year bond yields reached a four-month high of 0.595 percent lifting the Euro above 1.1340

German Bunds yields are at the highest after European Central Bank announced its intention to launch QE.

EURUSD is trading higher at 1.1343 ahead of the Germany's construction PMI data and the US initial jobless claims data.

UK goes to the polls today and it is still uncertain if we will get a hung Parliament in the UK.

GBPUSD is in the range of 1.5240 and traders expect heavy market volatility ahead of the Elections.

Australia's unemployment rate climbed to 6.2% as expected with a loss of 2.9K jobs. AUDUSD peaked to 0.8000 after the jobs report.

Australian bond yields rose further on Wednesday morning to above 2.8 per cent after the RBA decision.

Crude oil pulled back in Asian trading session, after rallying to new 2015 highs of 62.85 presently at 61.36

Gold is trading lower in the Asian session at 1187.68 while Silver is at 16.45

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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Daily Market Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

GBP spikes as Exit Polls Predict a Conservative Win in UK

In UK General Elections Exit Polls Predict a Conservative Win and that the Britain’s Prime Minister, David Cameron would retain his power.

GBPUSD spiked 2.1% to cross 1.5430 yesterday and to 1.5500 in the Asian trading session. Apart from the outcome of the UK elections, Britain’s trade data for March coming out today will reflect the health of the UK economy.

EURUSD is trading lower at 1.1198 ahead of Economic Data from Germany and US non-farm payrolls data.

USD Non-farm Payrolls forecast is 228K for the month of April. Meanwhile the ongoing Greek debt negotiations continue to affect the Euro.

The US Dollar bounced off a three-month low on stronger than expected initial jobless claims data.

German industrial production fell last month to an annual rate of -0.5%, from 0.2% in the preceding month, while Germany’s Trade Balance fell to 19.3B, from 20.0B in the preceding month.

The Reserve Bank of Australia cuts GDP Growth Forecast for the Australian economy to 2-3% and expects the Australian dollar to fall further.

Chinese Trade Balance rose to 34.13B, from 3.08B in the preceding month which was less than expected.

Crude oil is down on profit taking amid speculations of a strong NFP. WTI crude oil rose to 61.30 before settling at 58.92

Gold is trading flat in the Asian trading session at 1185.15 while Silver recovers its losses at 16.36

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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Dear Forum Members!

Here you can find Daily Technical Analysis of Major Currencies.

We hope that this information will be helpful for your trading.

Best Regards
FxGrow Support
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Terms used in our Analysis

RSI (14) - Relative strength index 14 days Time frame
MACD (12, 26) - Moving Average Convergence Divergence 12 day EMA - 26 day EMA
EMA - Exponential moving average
ADX (14) - Average Directional Index 14 days
ATR (14) - Average True Range 14 days
SMA - Simple Moving Average
MA x - Moving Average where x is the number of days
STOCH RSI (14) - Stochastic RSI 14 days
William %R - Momentum Indicator
CCI(14) - Commodity Channel Index
ROC - Rate of Change

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Daily Technical Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD08may15_zps4aajzcpi.png

EURUSD could not hold on to its bullish trend and came down on profit taking at 1.1220 Near term bias is bearish but overall scenario remains bullish.

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

Support is at 1.1197 while Resistance is at 1.1265, 1.1288 and 1.1391



GBPUSD

GBPUSD08may15_zps6aw8doxa.png

GBPUSD continues its strong bullish momentum crossing 1.5480; the short term bias is bullish within range of 1.5500 to 1.5550, and a correction is expected due to profit taking.

RSI (14), MACD (12, 26) and ADX (14) indicate a BUY while ATR (14) indicates High volatility.

Support is at 1.5303 while Resistance is at 1.5497 and 1.5521



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.

Β 

Β 

Daily Technical Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD08may15_zpsl8utlj8c.png

AUDUSD could not hold on to its bullish trend and came down to 0.7900 and remains vulnerable to downside movements with targets of 0.7850 and 0.7800

RSI (14), MACD (12, 26) and MA100 indicate a SELL while STOCH (9, 6) is Neutral and STOCHRSI (14) is overbought. Average True Range (14) indicates Less Volatility.

Support is at 0.7862 and 0.7876 while Resistance is at 0.7937 and 0.7975




USDJPY

USDJPY08may15_zpsvaplci6v.png

USDJPY is higher at 119.90 and the near term bias remains bullish within the range of 120.00 to 120.35, sideways movements are possible in the European trading session.

RSI (14), STOCHRSI (14), ADX (14), CCI (14) and MACD (12, 26) indicate a BUY. STOCH (9, 6) is overbought and ATR (14) indicates less volatility.

Support is at 119.04 while Resistance is at 119.96 and 119.99



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.

Β 

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Daily Market Analysis – 11th May, 2015
By FxGrow Research & Analysis Team

US Non-Farm Payrolls rose by 223K in April

us620x350_zpsgnslltoe.jpg

US Non-Farm Payrolls rose by 223K in April which was just below market expectations for a 230,000 increase.

The unemployment rate was down to 5.4% and Participation Rate was at 62.8%. Following the NFP USD remained strong as the unemployment rate in the US plunged to a 7-year low.

EURUSD is trading lower in the Asian trading session at 1.1155 ahead of the Euro group Finance Ministers meeting in Brussels today.

The People’s Bank of China lowered interest rates to 5.1% as inflation figures fell short of expectations.

Asian markets are up after the PBOC cut its interest rates and a strong US NFP report on Friday.

Bank of England will announce its monetary policy decisions today with main focus on the quarterly inflation report.

In Canada Jobs report came with a loss of 19.7K jobs while the unemployment rate is at 6.8%.

WTI futures dropped to $59.22 per barrel on Monday on account of strong US dollar.

Gold is trading lower in the Asian trading session at 1187.20 after China rate cut while Silver is flat at 16.40

11th May 2015 – 06:36hrs GMT

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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Daily Technical Analysis – 11th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD11may15_zpsgkmwcyst.png

EURUSD remained sideways with the pair testing 1.1140 in the Asian trading session. Near term bias remains bearish with targets of 1.1040 but overall scenario remains bullish.

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

Support is at 1.1136 while Resistance is at 1.1269 and 1.1288

11th May 2015 – 04:03hrs GMT


GBPUSD

GBPUSD11may15_zpsjz461dua.png

GBPUSD maintains its bullish tone still trading above 1.5400 but downside movements are possible due to price action and overall scenario remains bullish.

RSI (14) is Neutral, STOCH (9, 6), ADX (14), CCI (14) indicate a SELL while ATR (14) indicates Less volatility.

Support is at 1.5269, 1.5303 while Resistance is at 1.5497 and 1.5521

11th May 2015 – 04:12hrs GMT




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 – 11th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD11may15_zpsug9kogdz.png

AUDUSD remains in Uptrend at 0.7885 and is expected to consolidate at 0.7850 to 0.7900 in the Asian trading session.

RSI (14), MACD (12, 26), STOCH (9, 6) and MA100 indicate a SELL while STOCHRSI (14) is oversold. Average True Range (14) indicates Less Volatility.

Support is at 0.7860 and 0.7876 while Resistance is at 0.7937 and 0.7966

11th May 2015 – 04:19hrs GMT



USDJPY

USDJPY11may15_zpsignngmd8.png

USDJPY is moving sideways trading below 120.00 in the Asian trading session and the near term bias remains Neutral.

RSI (14) is Neutral; STOCHRSI (14) is overbought; ADX (14), CCI (14) and MACD (12, 26) indicate a BUY while ATR (14) indicates Less volatility.

Support is at 119.70 while Resistance is at 120.08

11th May 2015 – 04:26hrs GMT




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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Daily Technical Analysis – 12th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD12may15_zpsmeh6w7bv.png

EURUSD came below the 10day SMA but pulled back above the support level of 1.1136 in the Asian trading session to reach 1.1160 with the near term bias remaining Neutral.

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

Support is at 1.1129 while Resistance is at 1.1164 and 1.1176

12th May 2015 – 04:27hrs GMT


GBPUSD

GBPUSD12may15_zpsfst4iyyg.png

GBPUSD continues its bullish tone crossing 1.5600 yesterday. Near-term bias remains bullish to neutral within the range of 1.5620 to 1.5560

RSI (14) and MACD (12, 26) indicate a BUY; STOCH (9, 6) and CCI (14) indicate a SELL while ATR (14) is Neutral.

Support is at 1.5497, 1.5521 while Resistance is at 1.5589 and 1.5612

12th May 2015 – 04:36hrs 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 – 12th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD12may15_zps7vroraqv.png

AUDUSD remains stable at 0.7926 and the near term bias is bullish with targets of 0.8000; some correction is expected in the European trading session today.

RSI (14), MACD (12, 26) and STOCH (9, 6) indicate a BUY while STOCHRSI (14) is oversold. Average True Range (14) indicates Less Volatility.

Support is at 0.7876 and 0.7885 while Resistance is at 0.7925

12th May 2015 – 04:48hrs GMT


USDJPY

USDJPY12may15_zpsenp08jbi.png

USDJPY maintains its bullish tone with the pair testing 120.16 in the Asian trading session. Near term bias remains bullish within the range of 121.00 to 121.50 but overall scenario remains Neutral.

RSI (14), STOCH (9, 6), ADX (14) and MACD (12, 26) indicate a BUY while ATR (14) indicates less volatility.

Support is at 119.99 while Resistance is at 120.22

12th May 2015 – 04:42hrs 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.

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Daily Market Analysis – 12th May, 2015
By FxGrow Research & Analysis Team

Euro lower as Greek crisis weighs on investor sentiment

greece620x387_zpsyyv8gdtx.png

On Monday Eurozone finance ministers confirmed that there has been progress in talks between Athens and its creditors but more work needs to be done over the next few days.

Greece said on Monday it repaid IMF €750 million, €1.5 billion payment is due in June and a further €3 billion to the ECB in July.

As the Greece situation continues Euro came under pressure and remains vulnerable to further downside risks.

In Australia, March housing finance data rose 1.6%, and as a result AUDUSD is trading above 0.7900, meanwhile Australia's business confidence remained unchanged in April.

The yield on the US 10-year is at 2.27%, Australia's 10-yr is yield is at 3% and Japan's 10-year yield is at 0.4%.

Japan's Nikkei is down 0.6 percent, amid concerns of volatility in bond markets.

Bank of England kept its interest rate unchanged at 0.5% in April and kept the size of its asset-purchases at 375 billion pounds.

Crude Oil is trading lower in the Asian trading session at 59.18

Gold has recovered its losses and is trading at 1184.56 while Silver is weak at 16.26

12th May 2015 – 07:28hrs 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.

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Daily Technical Analysis – 13th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD13may15_zpsdxr0ner6.png

EURUSD tried to regain its bullish trend yesterday but came under selling pressure to close below 1.1220 In the Asian trading session the pair is up at 1.1250 and near term bias is bullish with targets of 1.1280 to 1.1300

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

Support is at 1.1129 while Resistance is at 1.1269 and 1.1278

13th May 2015 – 04:41hrs GMT



GBPUSD

GBPUSD13may15_zpsg66bal6e.png

GBPUSD had a strong bullish tone yesterday crossing 1.5700 and the near term bias is bullish in the range of 1.5740 to 1.5800

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

Support is at 1.5556, 1.5589 while Resistance is at 1.5710

13th May 2015 – 04:46hrs 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 – 13th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD13may15_zpsi2jbigwh.png

AUDUSD has started its bullish tone with the pair crossing 0.8000 in the Asian trading session. The near term bias is bullish with targets of 0.8100

RSI (14), MACD (12, 26) and STOCH (9, 6) indicate a BUY while STOCHRSI (14) is oversold. Average True Range (14) indicates Less Volatility.

Support is at 0.79125 and 0.7937 while Resistance is at 0.8006

13th May 2015 – 04:55hrs GMT



USDJPY

USDJPY13may15_zpsfvsnlyo0.png

USDJPY could not sustain its bullish momentum yesterday and came down below 120.00 and is trading at 119.85 in the Asian trading session. The near term bias remains Neutral.

RSI (14), ADX (14) is Neutral, STOCHRSI(14) is overbought; while Average True Range (14) indicates Less Volatility.

Support is at 119.74 while Resistance is at 120.27

13th May 2015 – 04:51hrs 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.

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Daily Market Analysis – 13th May, 2015
By FxGrow Research & Analysis Team

Bond Sell off weighs on Indices and Stocks Globally

lse_zpsl9sgosw5.png

A sharp sell-off in government bonds is dragging major global Indices lower. The global Bond sell off has left many investors nervous with FTSE100, S&P 500 and Nasdaq100 ending in red.

The 10-year US Treasury yield rose to 2.30%, German 10-year Bunds rose to 0.713%, Italian 10-year bonds rose to 1.867% while Spain's 10-year bonds rose to 1.819%

After Greece paid 750 million euros to the IMF on Monday, its financial condition remains weak. Following the news Euro rose more than 100 pips to cross 1.1260 yesterday.

In Australia wage price index fell to 0.5% AUDUSD is high on Australian yields and that the home loans approval rose to 1.6% in March.

In China Retail Sales fell to 10.0%, Industrial Production is at 5.9% while Fixed Assets Rural is at 12.0%

UK manufacturing production rose to 0.4% while analyst’s expectations were for a 0.3% increase. Following the news GBPUSD climbed to 1.5700

WTI Crude Oil rose to 60.75 amid Bond selloff and the news that Saudi has launched airstrike on Yemen again.

Gold is trading higher in the Asian trading session at 1194.70 after the slump in the global equity markets while Silver extends its gains at 16.63

13th May 2015 – 06:54hrs 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.

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Daily Technical Analysis – 14th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD14may15_zpstdpsnsc7.png

EURUSD rose sharply yesterday and is strong in the Asian trading session. Unable to cross 1.1400 indicates a short term correction in the prices. The near term bias is neutral to bullish within the range of 1.1350 to 1.1400

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

Support is at 1.1265 while Resistance is at 1.1382 and 1.1391

14th May 2015 – 04:57hrs GMT



GBPUSD

GBPUSD14may15_zpsqouuztln.png

GBPUSD retains its bullish tone trading above the 1.5750 and the near term bias is bullish to neutral in the range of 1.5750 to 1.5800 with sideways movements possible in the European trading session.

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

Support is at 1.5632 while Resistance is at 1.5768

14th May 2015 – 05:00hrs 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 – 14th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD14may15_zpsftpef9yd.png

AUDUSD is in a strong bullish momentum surging ahead of 0.8100 and the near term bias is bullish with targets of 0.8200 to 0.8230

RSI (14), MACD (12, 26) and CCI (14) indicate a BUY while STOCHRSI (14) is oversold. Average True Range (14) indicates Less Volatility.

Support is at 0.8029 while Resistance is at 0.8162

14th May 2015 – 05:04hrs GMT


USDJPY

USDJPY14may15_zpsqolickmd.png

USDJPY remains bearish trading at 119.18 in the Asian trading session. The near term bias is bearish to Neutral with targets of 118.50

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

Support is at 119.04 while Resistance is at 119.35

14th May 2015 – 05:07hrs 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.

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Daily Market Analysis – 14th May, 2015
By FxGrow Research & Analysis Team

USA_zps7u72pote.png

Euro, Gold rally on disappointing US retail sales data

US Retail sales remained flat in April, while expectations were of a 0.2% growth. Weak retail sales hint trouble in the US Economy and that the US consumers were reluctant to spend.

Following the news Euro and Gold rallied amid weak US dollar across the board. EURUSD gained more than 100 pips to close above 1.1360

Data coming out of Greece shows that it went into a recession during the first quarter of the year, with problems of unemployment, deflation, and political uncertainty.

The Euro zone's economic output climbed to 0.4% in the first quarter of 2015. This reflects the Euro zone's efforts to recover from the debt crisis amid stimulus provided by the European Central Bank.

In New Zealand Retail sales rose to 2.9% indicating that the domestic market is strong. Following the news Kiwi rallied above 0.7540

In Germany GDP growth for first quarter of 2015 was 0.3% while analyst expected a 0.5% growth.

NYMEX Crude Oil is weak in Asia at 60.15$ a barrel on strong production outlook.

Gold climbed to a 5 month high after weak US retail sales data trading at 1215.44 in the Asian trading session, while Silver continues its bullish streak at 17.19

14th May 2015 – 06:40hrs 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.

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Daily Technical Analysis – 15th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD15may15_zpsflottet2.png

EURUSD continues its bullish momentum crossing 1.1440 yesterday. The near term bias is bullish with targets of 1.1500 to 1.1540

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

Support is at 1.1342 while Resistance is at 1.1444 and 1.1449

15th May 2015 – 04:34hrs GMT


GBPUSD

GBPUSD15may15_zpsfz4nihi6.png

GBPUSD continues its bullish tone crossing 1.5800 yesterday. Some correction is expected in the European trading session and the near term bias is Neutral to bullish with targets of 1.5850

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

Support is at 1.5763 while Resistance is at 1.5814

15th May 2015 – 04:40hrs 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.


Daily Technical Analysis – 15th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD15may15_zpsqiivxtiv.png

AUDUSD came down yesterday and is presently in the bearish tone trading below 0.8100 the near term bias is bearish with targets of 0.8000 to 0.7950

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

Support is at 0.8041 while Resistance is at 0.8162

15th May 2015 – 04:47hrs GMT


USDJPY

USDJPY15may15_zpsyudschkt.png

USDJPY is in Bullish trend crossing 119.40 in the Asian trading session. The near term bias is bullish with targets of 120.00

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

Support is at 118.97 while Resistance is at 119.46

15th May 2015 – 04:53hrs 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.

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Daily Market Analysis – 15th May, 2015
By FxGrow Research & Analysis Team

Stock markets surge as US Initial Jobless Claims drop to 264K

wls_zpscez2vc0c.png

US unemployment claims unexpectedly dropped to 264,000 which reflect that the labor market condition is strong. Following the news Stock markets surged and ended in Green, while Euro pulled away from its 3 month peak.

European Central Bank president, Mario Draghi said that QE will remain in place and ECB will continue its monthly 60 billion euro bond buying programme.

In Greece there is a potential risk that it will default on its debt which could create panic in the currency markets. Meanwhile talks about the €7.2 billion bailout funds that Greece needs will continue today.

In China Premier Li Keqiang said there are signs of economic growth following which Asian markets surged. Hang Seng index was up 0.52% while Nikkei 225 was up 0.53%

In Canada new home prices remain unchanged in March while sales of existing homes surged 4.1%.

Bank of Japan Governor Haruhiko Kuroda said the underlying trend in inflation has improved steadily and saw no need for further easing now.

Crude Oil is down in Asia at 60.50$ amid news that IEA expects Oil supply to remain High.

Gold remains bullish trading at 1219.33 in the Asian trading session, while Silver is flat at 17.35

15th May 2015 – 07:38hrs 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.

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Daily Technical Analysis – 18th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD18may15_zpste7knbgd.png

EURUSD regained its bullish trend crossing 1.1460 on Friday and is trading above 1.1400 in the Asian trading session. The near term bias is Neutral to Bullish with some correction possible in the European trading session.

RSI (14) is Neutral; MACD (12, 26), MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.1322 while Resistance is at 1.1459 and 1.1465

18th May 2015 – 04:35hrs GMT


GBPUSD

GBPUSD18may15_zps8rop02wz.png

GBPUSD could not retain its bullish trend on Friday and came down below 1.5750 Further correction is possible today within the range of 1.5700 The near term bias is Neutral to Bullish with targets of 1.5810

RSI (14), STOCHRSI (14) is Neutral; MA100 and MA200 indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 1.5700 while Resistance is at 1.5785 and 1.5807

18th May 2015 – 04:42hrs 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 – 18th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD18may15_zpsfexy1n6l.png

AUDUSD is in bearish trend trading at 0.8017 in the Asian trading session. The support level of 0.8000 could easily be broken in the European trading session with targets of 0.7950 to 0.7920 today.

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

Support is at 0.7995 while Resistance is at 0.8067

18th May 2015 – 04:49hrs GMT


USDJPY

USDJPY18may15_zps7krnvtnz.png

USDJPY has started its bullish trend with the pair trading above 119.50 in the Asian trading session. The near term bias is Neutral to bullish with targets of 120.20

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

Support is at 119.46 while Resistance is at 119.82 and 119.92

18th May 2015 – 04:54hrs 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.

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Daily Market Analysis – 18th May, 2015
By FxGrow Research & Analysis Team

US Dollar tumbles on concerns over US Economy

UsEconomy_zpsy5jvgeb8.png

On Friday University of Michigan Confidence survey fell for the month of May indicating that there is no robust rebound in the US economy. The consumer sentiment index was 88.6 for May as against the analyst expectations of 95.9

US Economy faces reduced production and employment from lower oil prices, falling exports, and rising imports from a stronger dollar.

US Industrial production fell 0.3% in April for a fifth month pushing down the dollar and U.S. bond yields.

Asian markets are down on Monday and US Dollar stays weak amid a basket of major currencies after weak signs from the US Economy.

Globally investors are concerned over the weakness of the US economy, slowdown in China and problems in the Eurozone.

Rise in the Euro zone debt yields is supporting the EURUSD which is trading above 1.1400 in the Asian trading session.

In Japan Industrial production fell to -0.8% while analyst expectations were at -0.3% for the month of April.

In Canada manufacturing sales climbed to 2.9% in March which was above the market expectations of a 1.0% gain.

Crude Oil is higher trading above 61.30$ amid news of conflicts in Yemen and Iraq.

Gold remains bullish trading at 1227.94 in the Asian trading session, while Silver is strong at 17.66

18th May 2015 – 07:18hrs 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.

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Daily Technical Analysis – 19th May, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD19may15_zpspgfwpel7.png

EURUSD started its bearish trend yesterday and came below its support level of 1.1322 In the Asian trading session it touched 1.1300 levels today. The near term bias is bearish but overall scenario remains bullish with targets of 1.1450 to 1.1500

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

Support is at 1.1288 while Resistance is at 1.1391 and 1.1449

19th May 2015 – 04:36hrs GMT



GBPUSD

GBPUSD19may15_zps6lgk6wkj.png

GBPUSD is in a bearish momentum with the pair trading at 1.5650 in the Asian trading session. The near term bias remains Neutral to bearish with some sideways movements possible in the European trading session. Overall scenario remains bullish with targets of 1.5700 to 1.5750

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

Support is at 1.5632 while Resistance is at 1.5700 and 1.5709

19th May 2015 – 04:45hrs 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 – 19th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD19may15_zpsmp1uwiat.png

AUDUSD remained bearish yesterday coming down below 0.8000 In the Asian trading session the pair touched a low of 0.7960 but then it rebounded to 0.7990 The near term bias remains Neutral to Bullish with sideways movements expected in the European trading session.

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

Support is at 0.7966 while Resistance is at 0.8026 and 0.8032

19th May 2015 – 04:51hrs GMT



USDJPY

USDJPY19may15_zpsavfny4fk.png

USDJPY is in a Bullish trend with the pair crossing 120.00 in the Asian trading session. The near term bias remains Neutral to Bullish within range of 120.00 to 120.50

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

Support is at 119.82 while Resistance is at 119.99

19th May 2015 – 04:56hrs 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.

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Daily Market Analysis – 19th May, 2015
By FxGrow Research & Analysis Team

Asian markets and Euro lower on Greece concerns

greece_zpsaxmo2lfw.png

Asian markets are down on renewed concerns over Greece and Euro remains under pressure trading below 1.1300 Investors fear of a Greek bankruptcy as the Greek Prime Minister Alexi Tsipras said the country is running out of funds.

Greek Finance minister said on Monday that it is getting closer to a deal with its lenders that would help it meet debt repayments next month.

The possibility of a Greek default or exit from the Eurozone can cause big intraday swings and High volatility in the coming weeks.

Eurozone is due to release German ZEW Economic sentiment and Euro-Zone CPI today, while UK will release its Consumer Price Index and Retail Price Index.

The Australian dollar sank after the Reserve Bank of Australia released minutes showing the board continued to see it as too strong given the current economic conditions.

The RBA said that further interest rate cuts are possible stating that members did not see this as limiting the board's scope for any action that might be appropriate at future meetings.

NZDUSD was up after the RBNZ reported higher inflation expectations going forward. The central bank said expectations were for a gain of 1.32% from 1.11% seen in the first quarter.

Crude Oil is down at 59.73$ due to a stronger US Dollar and the news that Saudi exports reached a 7-year high.

Gold is trading lower this morning at 1219.70 while Silver is weak at 17.39

19th May 2015 – 07:29hrs 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.

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