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Daily Technical Analysis – 30th June, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD30June15_zps80hzbg7z.png

EURUSD was bullish yesterday and touched a high of 1.1277 but then it corrected lower towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1196 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1100

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

Support is at 1.1134 while Resistance is at 1.1288

30th June 2015 – 07:23hrs GMT


GBPUSD

GBPUSD30June15_zpsjfiewrre.png

GBPUSD was indecisive yesterday as it touched a low of 1.5661 and then moved upwards to touch a high of 1.5778 but corrected lower towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5731 in the European trading session. The near term bias remains Bearish with targets of 1.5650

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

Support is at 1.5708 while Resistance is at 1.5787

30th June 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.


Daily Technical Analysis – 30th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD30June15_zps2hr9yjbu.png

AUDUSD was lower yesterday but then it corrected upwards to reach a high of 0.7710 towards the end of the trading session. Now the pair is trading just above its 20day moving average of 0.7677 in the European trading session. The near term bias remains Neutral.

STOCHRSI (14), ADX (14), CCI (14) are Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 0.7632 while Resistance is at 0.7711

30th June 2015 – 07:43hrs GMT


USDJPY

USDJPY30June15_zpss7lkibth.png

USDJPY was bearish yesterday and remained weak towards the end of the trading session. Now it is trading below its 20day moving average of 123.48 in the European trading session. The near term bias remains Bearish with targets of 121.50

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 122.02 while Resistance is at 122.47

30th June 2015 – 07:49hrs 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.

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Daily Market Analysis – 30th June, 2015
By FxGrow Research & Analysis Team

Greece expected to Default on Its Payment to the IMF today

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Greece is expected to default on its payment of €1.6bn to the IMF today. The 5 year Greece bailout program will come to an end today by 6pm Washington time.

Meanwhile Greek banks remain closed as Greece is almost out of money after the European Central Bank turned down a request from the Bank of Greece for €6bn in emergency funds.

Greece has threatened to seek a court injunction against the EU institutions, both to block the country's expulsion from the euro and to halt asphyxiation of the banking system - Telegraph.

β€œThe Greek government will make use of all our legal rights. We are taking advice and will certainly consider an injunction at the European Court of Justice. The EU treaties make no provision for euro exit and we refuse to accept it. Our membership is not negotiable" - Greek Finance minister, Yanis Varoufakis.

Greek PM Alexis Tsipras has called the referendum over the weekend on July 5, as Euro hits a 7 year low against the British pound.

β€œThe greater the number of no [votes], the greater the weapon the government will have to relaunch negotiations. Greece never left the negotiating table, it is still at the negotiating table” - Greek prime minister, Alexis Tsipras.

β€œI do see the potential for disruptions that could affect the European economic outlook and global financial markets. To the extent that there are impacts on the euro-area economy or on global financial markets, there would undoubtedly be spillovers to the United States that would affect our outlook as well” - Federal Reserve Chair Janet Yellen.

Greek Prime Minister Alexis Tsipras has urged voters to reject the demands of its European creditors.

"We ask you to reject it with all the might of your soul, with the greatest margin possible. The greater the participation and the rejection of this deal, the greater the possibility will be to restart the negotiations to set a course of logic and sustainability" - Greek PM.

Greek Banks remain closed with capital controls in place so that customers can only withdraw a maximum of 60 euros in a day. After ECB refused further funding Greek banks had no choice.

Greece has to repay 1.6billion euros to the IMF today and is likely to default on its payment today. Greece owes 3.5 billion euros to the ECB on July20. The current Greek bailout financed by ECB, IMF and the European Commission also expires today.

Crude Oil is trading lower at $58.86 on Greek default concerns.

Gold is trading lower in the Europe at 1173.79, while Silver is weak at 15.72

30th June 2015 – 10:47hrs 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.

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

EURUSD

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EURUSD had a bullish momentum yesterday and remained firm towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1146 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1050

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

Support is at 1.1115 while Resistance is at 1.1155

01st July 2015 – 07:11hrs GMT

GBPUSD

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GBPUSD moved upwards touching a high of 1.5738 but then it came down and remained indecisive towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5713 in the European trading session. The near term bias remains Neutral to Bearish.

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

Support is at 1.5673 while Resistance is at 1.5768

01st July 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.


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

AUDUSD

2u965gp.jpg

AUDUSD was moderately higher yesterday and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7710 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7800

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

Support is at 0.7681 while Resistance is at 0.7738

01st July 2015 – 07:44hrs GMT


USDJPY

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USDJPY remained indecisive yesterday as it came below 122.00 levels but corrected upwards towards the end of the trading session. Now it is trading above its 20day moving average of 122.43 in the European trading session. The near term bias remains Bullish with targets of 123.50

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

Support is at 122.60 while Resistance is at 122.89

01st July 2015 – 07:51hrs 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 – 01st July, 2015
By FxGrow Research & Analysis Team

Greece defaults on $1.7 billion IMF payment

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Greece has defaulted on its payment to the IMF on June 30 and became the first developed nation to do so. Greece is now into a deeper recession as its bailout program has expired and now it is cut off from the access to IMF resources. International Monetary Fund in an organization that helps the world economy remains stable.

"I confirm that the about EUR 1.5 billion due by Greece to the IMF June 30 has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared" - Director of Communications, IMF.

The ECB's policymaking governing council was to meet in Frankfurt to decide whether to maintain, increase or curtail emergency lending that is keeping Greek banks afloat despite a wave of deposit withdrawals and the state's default. - Reuters.
"Greece was fully committed to service its external debt in a manner that secures the viability of the Greek economy, growth and social cohesion" - Greek Finance Minister Yanis Varoufakis.

Greece has received nearly 240 billion euros in two bailouts from the European Union and IMF since the start of the program in 2010.

"What would happen if Greece came out of the euro? There would be a negative message that euro membership is reversible" - Spanish Prime Minister Mariano Rajoy.

"Before the planned referendum is carried out, we will not negotiate over anything new" - German Chancellor Angela Merkel.

The risks of a default to the IMF forced European Central Bank to limit its emergency loans to Greek banks and Greece’s government was forced to institute capital controls in order to prevent mass exodus of cash out of the country.

"I think Mr. Tsipras screwed up the negotiations, frankly. Because he believed that Europe needs Greece as much as Greece needs Europe, and that is sadly not the case. So now I believe he's in a state of panic because the banks have closed, people are complaining, they were queuing for hours over the weekend to get their cash out" - Miranda Xafa, Centre for International Governance Innovation.

Crude Oil is trading lower at $58.89 on uncertainty about the financial crisis in Greece.

Gold is trading lower in the Europe at 1171.60, while Silver is weak 15.57

01st July 2015 – 09:09hrs 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.

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

EURUSD

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EURUSD was broadly lower yesterday and touched a low of 1.1051 and remained weak towards the end of the trading session. Now the pair is trading just near its 20day moving average of 1.1071 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1010

STOCH (9, 6), ADX (14), CCI (14) are Neutral; RSI (14), MACD (12, 26), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1031 while Resistance is at 1.1134

02nd July 2015 – 04:33hrs GMT


GBPUSD

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GBPUSD was bearish yesterday and touched a low of 1.5606 remaining weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5621 in the European trading session. The near term bias remains Neutral to Bearish.

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

Support is at 1.5587 while Resistance is at 1.5652

02nd July 2015 – 04:43hrs 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 July, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was moderately higher yesterday touching a high of 0.7714 but then it came down towards the end of the trading session. Now the pair is trading just below its 20day moving average of 0.7659 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7600

CCI (14), STOCH (9, 6) are Neutral; MACD (12, 26), RSI(14), ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7634 while Resistance is at 0.7738

02nd July 2015 – 04:49hrs GMT


USDJPY

1ffhjl.jpg

USDJPY was bullish yesterday and remained firm towards the end of the trading session. Now it is trading above its 20day moving average of 123.16 in the European trading session. The near term bias remains Bullish with targets of 124.00

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

Support is at 122.60 while Resistance is at 122.89

02nd July 2015 – 04:58hrs 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.

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Daily Market Analysis – 02nd July, 2015
By FxGrow Research & Analysis Team

US ISM Manufacturing Index Rises to 53.5 in June

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Manufacturing expanded in June as the PMI registered 53.5 percent, an increase of 0.7 percentage point over the May reading of 52.8 percent, indicating growth in manufacturing for the 30th consecutive month. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting - Institute for Supply Management.

Improvement seen in US manufacturing reflects stronger domestic spending with improving demand abroad. 11 out of 18 manufacturing industries expanded in June, led by makers of furniture and wood products. Producers of oil, metals, plastics and machinery said business contracted.

New orders rose to 56.0 from 55.8. The gauge of prices paid was unchanged at 49.5, compared with expectations of 51.0. June PMI indicates manufacturing activity has begun to recover from the softer demand, output and hiring levels experienced earlier in the year.

Globally falling oil prices have forced energy companies to curtail orders for new equipment and pipelines as their margins were squeezed and rigs were shut down. The stronger dollar made US goods more expensive overseas, which is weighing on sales.

In Eurozone finance ministers have ruled out any further talks on a fresh bailout for Greece until the country holds its referendum on Sunday.

Greek PM Tsipras has written to European leaders and the International Monetary Fund, accepting most of the conditions for the bailout.

"Greece is prepared to accept this staff level agreement subject to the following amendments, additions or clarifications" - Prime Minister Alexis Tsipras.

Greece is out of money after being cut off from European bailout funds and has defaulted to the IMF. If Greeks will vote for "Yes" a new bailout deal will take weeks and may need a change of government.

"How do you persuade European government to vote for a third bailout when the Greek government has actively campaigned in a referendum against the terms of a second bailout?" - James Nixon.

NZDUSD slid to a 5 year low as the monetary policy divergence New Zealand and the US and the strong US dollar are driving the New Zealand dollar to its lowest since May 2010.

Crude Oil is trading lower at $57.11 after progress on Iran Nuclear deal.

Gold is trading lower in the Europe at 1163.70, while Silver is weak 15.52

02nd July 2015 – 07:48hrs 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 – 03rd July, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD remained indecisive yesterday with a mild recovery on the upper side. Now the pair is trading just above its 20day moving average of 1.1087 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.1150

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

Support is at 1.1048 while Resistance is at 1.1119

03rd July 2015 – 04:00hrs GMT



GBPUSD

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GBPUSD remained indecisive yesterday as it touched a low of 1.5560 and a high of 1.5638. Now the pair is trading just above its 20day moving average of 1.5608 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.5660

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

Support is at 1.5560 while Resistance is at 1.5624

03rd July 2015 – 04:08hrs 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 – 03rd July, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was lower yesterday and touched a low of 0.7588 but then it corrected upwards towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7618 in the Asian trading session. The near term bias remains Neutral to Bearish with targets of 0.7510

STOCH (9, 6) is Neutral; MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 0.7572 while Resistance is at 0.7616

03rd July 2015 – 04:14hrs GMT


USDJPY

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USDJPY moved upwards hitting a top of 123.70 but then it corrected lower towards the end of the trading session. Now it is trading below its 20day moving average of 123.13 in the Asian trading session. The near term bias remains Neutral to Bearish.

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

Support is at 122.80 while Resistance is at 123.70

03rd July 2015 – 04:20hrs 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 – 03rd July, 2015
By FxGrow Research & Analysis Team

US Non-Farm Payrolls increased by 223k in June

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Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent. Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing - US Bureau of Labor Statistics.

Employment in other major industries, including construction, manufacturing, wholesale trade, information, and government, showed little or no change over the month - US Bureau of Labor Statistics.

The unemployment rate declined to 5.3% due to a decline in the labor force of 432K as the participation rated declined to 62.6% from 62.9%.

Recent US data suggests that US growth should pick up in the current and coming quarters. The June employment report leaves the door open for a first rate hike in September. The uncertain financial conditions in Greece may affect the timing of the first rate hike.

US Dollar was weaker after the Non-Farm payrolls came out, seen as mildly disappointing by the economists. While the expectations for two rate hikes before the end of the year are cut down, the expectations of a September hike are maintained.
With US holiday on Friday NFP data was released a day earlier, and we are unlikely to see major moves until the opening of the markets on Monday.

Focus is now shifting to Greece as Prime Minister Alexis Tsipras has called a referendum on July 5 for Greeks to decide if the country should accept what his government regards as a raw deal offered by its creditors.

On Monday, a larger than usual price gap between the market's close on Friday and the open of the Asian markets is expected.

If the majority of Greeks will vote against the current deal drafted by the IMF, European Commission, and the European Central Bank, it will push the country closer to Grexit.

Meanwhile, European leaders are not ready to negotiate with Athens until the referendum has passed. According to some reports Germany might refuse to negotiate with Greek government post-referendum.

In UK business activity in the services sector outpaced estimates for the month of June. Markit services purchasing managers' index came at 58 for June.

"In UK Growth is looking increasingly unbalanced. The recent weakness of the manufacturing PMI means industrial production looks likely to have declined in the second quarter, leaving the economy once again dependent on the service sector to sustain any growth. June’s rebound is therefore welcome news, but policymakers will want to see further improvements in the data, including signs of a sustainable upturn in pay growth, before feeling comfortable that the UK economy is ready for higher interest rates" - Chris Williamson, chief economist at Markit.

Crude Oil is trading lower at $56.52 7.11 after US oil drilling this week increased after 29 weeks of declines.

Gold is trading mildly higher in the Europe at 1168.70, while Silver is weak 15.65

03rd July 2015 – 08:55hrs 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.

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Daily Technical Analysis – 06th July, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD06July15_zps7saxqxjo.png

EURUSD opened the week lower touching a low of 1.0968 in the early Asian trading session. Now the pair is trading just below its 20day moving average of 1.1065 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.0950

RSI (14), STOCH (9, 6) are Neutral; MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 1.1031 while Resistance is at 1.1117

06th July 2015 – 05:46hrs GMT


GBPUSD

GBPUSD06July15_zps4ifgojlv.png

GBPUSD opened the week lower touching a low of 1.5538 in the early Asian trading session. Now the pair is trading just above its 20day moving average of 1.5580 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5500

RSI (14) is Neutral; STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a SELL; while Average True Range (14) indicates Less Volatility.
Support is at 1.5552 while Resistance is at 1.5624

06th July 2015 – 06:01hrs 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.


Daily Technical Analysis – 06th July, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD06July15_zpslqqdcgma.png

AUDUSD opened the week lower but then consolidated upwards in the early Asian trading session. Now the pair is trading below its 20day moving average of 0.7505 in the European trading session. The near term bias remains Bearish with targets of 0.7400

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 0.7460 while Resistance is at 0.7598

06th July 2015 – 06:09hrs GMT


USDJPY

USDJPY06July15_zpsvmztgh0j.png

USDJPY opened the week lower touching a low of 121.85 in the early Asian trading session. Now it is trading below its 20day moving average of 122.60 in the European trading session. The near term bias remains Bullish with targets of 123.00

RSI (14) is Neutral; STOCH(9,6), Williams %R, Ultimate Oscillator indicate a BUY; while Average True Range (14) indicates High Volatility.

Support is at 121.81 while Resistance is at 122.84

06th July2015 – 06:13hrs 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 – 06th July, 2015
By FxGrow Research & Analysis Team

Global Markets sink after Greek voters rejected the terms of an International bailout

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The final result of the Greek referendum, was 61.3% "No", against 38.7% who voted "Yes".

Global markets have sunk after voters in Greece rejected austerity plans demanded by International creditors, as the country's future in the Eurozone is in danger.

The Nikkei 225 index dropped 2.1% to close at 20,112.12 on Monday. In South Korea, the Kospi index fell 2.4% to 2,054. And in Hong Kong, the Hang Seng index was down 3.3% to 25,205.56.

β€œAs of tomorrow, Greece will go back to the negotiating table and our primary priority is to reinstate the financial stability of the country" - Greek Prime Minister Alexis Tsipras.

"Today we celebrate the victory of democracy. We proved even in the most difficult circumstances that democracy won't be blackmailed" - Greek Prime Minister Alexis Tsipras.

β€œI’m fully aware that the mandate that I was given (by voters) is not for a rupture with Europe, but a mandate boosting our negotiating strength for reaching a sustainable deal" - Greek Prime Minister Alexis Tsipras.

"For recovery of the Greek economy, difficult measures and reforms are inevitable. We will now wait for the initiatives of the Greek authorities" - Jeroen Dijsselbloem, head of the Eurozone finance ministers.

"I believe that with the hard efforts of all sides, Greece's economic situation will turn around. The economic crisis will be appropriately handled. Whether or not it can be appropriately handled will not only have an important impact on Greece and its people, but will have an important impact on ... the world too" - Deputy Chinese Foreign Minister.

If there is no agreement on a deal, the European Central Bank will shut down Emergency Liquidity Assistance no later than 20 July. Banks will then not only be illiquid but would then turn bankrupt, and the lack of financing would trigger a collapse of the Greek economy.

β€œEuro area member states intend to make full use of all the instruments available to preserve the integrity and stability of the euro area (which would) complement any actions the European Central Bank may take in full independence and in line with its mandate” - ECB.

US stocks are poised to open sharply lower on Monday after Greeks rejected the terms of the bailout proposed by its International creditors.

Crude Oil is trading lower at $54.95 8.86 after Greece rejected debt bailout terms.

Gold is trading lower in the Europe at 1164.88, while Silver is flat at 15.62

06th July 2015 – 08:32hrs 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.

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Daily Technical Analysis – 09th July, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD09July15_zpsmdnyxqhc.png

EURUSD had a bullish trend yesterday and touched a high of 1.1091 and remained firm towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.1067 in the European trading session. The near term bias remains Bullish with targets of 1.1160

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

Support is at 1.1065 while Resistance is at 1.1131

09th July 2015 – 06:25hrs GMT


GBPUSD

GBPUSD09July15_zpsbgigafvw.png

GBPUSD had a bearish momentum yesterday and touched a low of 1.5329 but then it corrected upwards towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5367 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5450

STOCH (9, 6) is Neutral; RSI (14), ADX (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 1.5351 while Resistance is at 1.5450

09th July 2015 – 06:30hrs 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 – 09th July, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD09July15_zpspnpjmaal.png

AUDUSD remained indecisive yesterday as it touched a low of 0.7370 and a high of 0.7448 towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7439 in the European trading session. The near term bias remains Bullish with targets of 0.7500

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

Support is at 0.7371 while Resistance is at 0.7516

09th July 2015 – 06:37hrs GMT


USDJPY

USDJPY09July15_zps7hrquusp.png

USDJPY was strongly bearish yesterday as it touched a low of 120.40 and remained weak towards the end of the trading session. Now it is trading above its 20day moving average of 120.97 in the European trading session. The near term bias remains Neutral to Bullish with targets of 122.00

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

Support is at 120.41 while Resistance is at 121.94

09th July2015 – 06:42hrs 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 – 09th July, 2015
By FxGrow Research & Analysis Team

FOMC Minutes: Fed Cautious over weak Consumer spending, Risks in Greece and China

fomc5_zpskqzmao9m.png

β€œConsistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced.” – FOMC.

"Many participants emphasized that, in order to determine that the criteria for beginning policy normalization had been met, they would need additional information indicating that economic growth was strengthening, that labor market conditions were continuing to improve, and that inflation was moving back toward the Committee's objective." – FOMC.

"Most participants judged that the conditions for policy firming had not yet been achieved; a number of them cautioned against a premature decision" – FOMC.

The FOMC minutes show that officials are cautious about the economic outlook. Their concerns include weak consumer spending, and drags on investment and exports resulting from lower energy prices and a stronger USD.

Concern over Greece and China, Fed officials were open to delaying their first interest rate increase since 2006 amid uncertainty over Greece’s future in the euro zone.

"While a worst-case scenario of a Greek exit from the euro leading to sizable financial and economic impacts on the global economy cannot be ruled out, it remains an unlikely tail risk" - San Francisco Fed President Williams.

In China, Stock markets have stabilized with the Shanghai Composite up 6.35% and the Shenzhen Composite up 3.76%. With support from the Chinese government to rescue stock markets, the People's Bank of China has cut interest rates to a record low; brokerages have committed to buy billions worth of stocks.

The Greek government sent a formal request for a new bailout to the European Stability Mechanism, asking for a three-year loan facility.

Greece has said it will provide details of credible and concrete reforms to its creditors today to try to secure a third bailout from the European Union and the International Monetary Fund.

Canada’s Building permits declined to C$6.7 billion for the month of May, showing signs that the Canadian economy struggled to regain momentum after shrinking in the first quarter of the 2015.

Crude oil is trading lower at $52.44 after a surprise build in US stockpiles.

Gold is trading higher in the Europe at 1164.45, while Silver is up at 15.39

09th July 2015 – 09:04hrs 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 – 10th July, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD10July15_zpsg7cws9qq.png

EURUSD was indecisive yesterday as it touched a low of 1.0990 and then moved upwards at the end of the trading session. Now the pair is trading above its 20day moving average of 1.1114 in the European trading session. The near term bias remains Bullish with targets of 1.1160 to 1.1180

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1061 while Resistance is at 1.1172

10th July 2015 – 06:52hrs GMT


GBPUSD

GBPUSD10July15_zps1wt4xyl9.png

GBPUSD was indecisive yesterday as it touched a high of 1.5418 and a low of 1.5342 towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5383 in the European trading session. The near term bias remains Bullish with targets of 1.5450

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

Support is at 1.5343 while Resistance is at 1.5420

10th July 2015 – 06:57hrs 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 – 10th July, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD10July15_zpstkofoj5d.png

AUDUSD was mildly bullish yesterday as it touched a high of 0.7490 but then it came down towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7458 in the European trading session. The near term bias remains Bullish with targets of 0.7500

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

Support is at 0.7449 while Resistance is at 0.7495

10th July 2015 – 07:01hrs GMT


USDJPY

USDJPY10July15_zpsszseris5.png

USDJPY was bullish yesterday and maintained its up tone towards the end of the trading session. Now it is trading below its 20day moving average of 121.88 in the European trading session. The near term bias remains Bullish with targets of 122.50

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

Support is at 120.50 while Resistance is at 121.97

10th July2015 – 07:05hrs 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 – 10th July, 2015
By FxGrow Research & Analysis Team

Euro Higher as Greece submits new Bailout Proposal

ECB1_zpslmjqg8kg.png

Greece has submitted a new detailed proposal to its European creditors asking for a three year bailout loan. The chairman of Euro group finance ministers, Jeroen Dijsselbloem, received the documents which will be assessed by the officials from the European Commission, European Central Bank and International Monetary Fund.

"We got a mandate to bring a better deal than the ultimatum that the Euro group gave us, but certainly not given a mandate to take Greece out of the Eurozone. We are confronted with crucial decisions, we are all in this together" - Greek Prime Minister Alexis Tsipras.

Greek PM Alexis Tsipras has taken care to draft a new proposal along with his cabinet which proposes tax rises, pension reforms meeting the demands of the creditors. The new proposal is due to be approved by the Greek Parliament today and will be presented before the Euro group of Finance minister's summit on Sunday.

EURUSD is lifted by the news that Greece has submitted a new proposal for bailout from a low of 1.0991 to trade at 1.1118 in the European trading session.

β€œThe realistic proposal from Greece will have to be matched by an equally realistic proposal on debt sustainability from the creditors. Only then will we have a win-win situation” - European Council President Donald Tusk.

European Union leaders will be meeting for an emergency summit in Brussels on Sunday where they will decide on the future of the Greece in the Euro. If there is no deal by Sunday then the Greek economy will collapse and possibly leave the Euro.

β€œGreece seeks to reach an agreement with the institutions immediately, but we want an agreement that will respect the country and the people’s dignity, and that will open windows for a way out of the crisis. We do not want to add a third Memorandum of harsh austerity, suffering and deprivation to the two previous ones without offering a prospect to the country" - Greek Energy Minister.

The future of Greece in the Eurozone will be decided this weekend when the European leaders will discuss a third bailout program in the light of new proposal submitted to them.

US Initial Jobless Claims jumped to 297K, as the number of people applying for unemployment benefits rose more than expected last week.

Bank of England has kept its benchmark interest rate unchanged at 0.5% on backdrop of strong growth. IMF expects British economy to grow 2.7% this year.

In Australia Unemployment rate rose to 6.0% for the month of June according to the Australian Bureau of Statistics.

China’s Consumer Inflation rose to 1.4% for the month of June according to the National Bureau of Statistics.

Crude oil has rebounded to $53.26 as China stock markets have recovered from collapse.

Gold is trading higher in the Europe at 1163.16, while Silver is up at 15.47

10th July 2015 – 09:38hrs 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 – 13th July, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD13July15_zpsjls2v4yk.png

EURUSD was bullish last week without any major movements and opened the week lower at 1.1096 today. Now the pair is trading below its 20day moving average of 1.1144 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1050

RSI (14), CCI (14) are Neutral; STOCH (9, 6), ROC, Williams %R indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.1065 while Resistance is at 1.1151

13th July 2015 – 07:51hrs GMT


GBPUSD

GBPUSD13July15_zpsenxjrwwf.png

GBPUSD closed last week higher and opened the week slightly up at 1.5518 today. Now the pair is trading above its 20day moving average of 1.5509 in the European trading session. The near term bias remains Bullish with targets of 1.5600

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

Support is at 1.5420 while Resistance is at 1.5616

13th July 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.


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

AUDUSD

AUDUSD13July15_zpsv5avnowl.png

AUDUSD was lower last week and opened the week lower at 0.7412 today. Now the pair is trading below its 20day moving average of 0.7435 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7350

RSI (14), STOCH (9, 6) are Neutral; STOCHRSI (14), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 0.7409 while Resistance is at 0.7462

13th July 2015 – 07:46hrs GMT


USDJPY

USDJPY13July15_zpsh4tkrnta.png

USDJPY was bullish last week and opened the week lower at 122.17 today. Now it is trading above its 20day moving average of 122.70 in the European trading session. The near term bias remains Bullish with targets of 124.00

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

Support is at 122.45 while Resistance is at 123.31

13th July2015 – 07:59hrs 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 July, 2015
By FxGrow Research & Analysis Team

Eurozone Leaders have reached a Greek Bailout Agreement

Greece41_zpsbthemm3s.png

Eurozone leaders have agreed upon a Greek bailout deal and keep Greece in the Euro. European Summit Chair Donald Tusk tweeted in a message β€œEuro Summit has unanimously reached agreement”. The new bailout proposed for Greece will include serious economic reforms and financial support.

"After 17 hours of negotiations, we have finally reached it. One can say that we have β€˜agreement’. Leaders have agreed in principle that they are ready to start negotiations on an ESM programme, which in other words means continued support for Greece" - EU council President Donald Tusk.

"There are strict conditions to be met. The approval of several national parliaments, including the Greek parliament, is now needed for negotiations on an ESM programme to formally begin" - EU council President Donald Tusk.

Following the news EURUSD shot up and touched a high of 1.1195 in the European trading session. Euro was unable to hold on and drifted lower as the traders sentiments shifted towards US rate hike later this year.

The third bailout program for Greece is estimated at 86 billion euros and will require Greek parliament to push legislation including tax and pension reforms as demanded by its creditors.

β€œGreece had secured debt restructuring and a 35 billion euro growth package. We fought a tough battle. We face difficult decisions” - Greek Prime Minister Alexis Tsipras.

β€œI think the euro is being pulled down by expectations that higher US rates will support the dollar, and the cost of Greece deal, including a worsening Greek economic crisis and increasing fissures in Europe’s leadership” - strategist at Union Bancaire PrivΓ©e.

β€œThe country which we help has shown a willingness and readiness to carry out reforms. The advantages far outweigh the disadvantages" - German Chancellor Angela Merkel.

The Greek Parliament needs to approve the terms of the agreement without any delay. A fund will be created to monetize some Greek State assets owned by the Greek government to help pay down the country’s debt.

Greece will also need to seek the assistance of the International Monetary Fund to monitor the country’s adherence to its bailout commitments.

Euro group head Jeroen Dijsselbloem said a fund will be set up to tackle the debt and recapitalization of the country’s banks. The total size of the fund would be around 50 billion euros.

β€œOnce approximately €25 billion needed to recapitalize the banks have been used, 50% of the remaining funds will be used to bring down debt even more, and 50% can be invested in Greece by the Greek government. This is one of the key elements on both debt sustainability and to let growth return to Greece.” - Euro group head Jeroen Dijsselbloem.

Crude oil is trading lower at $51.66 after IEA reported that world oil demand will be slower in the next year.

Gold is trading lower in the Europe at 1156.24, while Silver is weak at 15.47

13th July 2015 – 10:05hrs 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 July, 2015
By FxGrow Research & Analysis Team

EURUSD

EURUSD14July15_zps0owveu3u.png

EURUSD was bearish yesterday and came down below 1.1000 remaining weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1006 in the European trading session. The near term bias remains Bearish with targets of 1.0900

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

Support is at 1.0969 while Resistance is at 1.1131

14th July 2015 – 07:28hrs GMT


GBPUSD

GBPUSD14July15_zpsw2m3u4hn.png

GBPUSD tried to go up yesterday as it touched a high of 1.5586 but then it came down below 1.5500 and remained weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5493 in the European trading session. The near term bias remains Bearish with targets of 1.5400

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

Support is at 1.5423 while Resistance is at 1.5507

14th July 2015 – 07:33hrs 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 – 14th July, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD14July15_zpsqb0tsbyy.png

AUDUSD remained indecisive as it touched a high of 0.7460 and a low of 0.7383 yesterday. Now the pair is trading above its 20day moving average of 0.7412 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7480

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

Support is at 0.7392 while Resistance is at 0.7449

14th July 2015 – 07:57hrs GMT


USDJPY

USDJPY14July15_zps5eiw7ta5.png

USDJPY was bullish yesterday as it touched a high of 123.48 and remained strong towards the end of the trading session. Now it is trading just below its 20day moving average of 123.46 in the European trading session. The near term bias remains Neutral to Bullish with targets of 123.85

STOCH (9, 6), CCI (14) are Neutral; RSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; while Average True Range (14) indicates High Volatility.

Support is at 122.45 while Resistance is at 123.64

14th July2015 – 08:02hrs 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.

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

US Dollar Gains on expectations of Fed Rate Hike this year

USA_zpsk4j6bl6l.png

US Dollar rose against its major counterparts after global tensions eased on the news that Eurozone leaders have reached an agreement for a new bailout package for Greece.

Following the Greek deal investor sentiment has improved as they are now looking at the growth divergences between the US and Europe. Safe heaven currencies such as the Japanese Yen and the Swiss Franc are also weak reflecting the investor sentiment.

Globally investors have shifted their focus to the US Federal Reserve as it is expected to hike interest rates later this year.

Fed Chairwoman Janet Yellen will provide more cues of the timing of the rate hike at her semiannual testimony to Congress on Wednesday and Thursday.

Fed Chairwoman Janet Yellen said in her statement last week "It will be appropriate at some point later this year to take the first step to raise the federal funds rate and thus begin normalizing monetary policy."

The US Dollar remains steady against the Japanese Yen as it touched a high of 123.74 today after the risks of a Greek exit from the Eurozone were avoided.

EURUSD touched a low of 1.0968 as trader’s reverted back to dollar buying after the easing of concerns over Greece and China.

Greek's 10 year sovereign yields fell to 12.01 per cent, German 10 year yields to 0.85 percent, while the 10-year US Treasury yield rose to 2.44 per cent.

Wall Street rallied on Greek deal with the DJIA and the S&P 500 indices rising +1.22% and +1.11% respectively. The Stoxx600 jumped a further +2%.

Chinese stocks rose with the Shanghai Composite rising 2.4 per cent and the Shenzhen Composite ending 4.2 per cent higher.

In UK CPI Inflation dropped to zero for the month of June, following the significant drop in oil prices at the beginning of this year.

In Germany investor confidence dropped as the ZEW index dropped to 29.7 for the month of June. ZEW economic sentiment for the Eurozone came in at 42.7 amid uncertain conditions in Europe.

China's Exports increased by 2.8% for the month of June as compared from the previous year. China's customs department said that the country's trade performance will improve in the second half of 2015.

Japan industrial production declined 3.9% in May as the world's third biggest economy faces pressure to sustain a healthy growth in the second half of 2015.

Crude oil is trading lower at $51.18 after Iran reached a nuclear deal which is expected to increase the supply of Iranian crude on world markets.

Gold is trading lower in the Europe at 1153.98, while Silver is weak at 15.35

14th July 2015 – 10:34hrs 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.

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

EURUSD

EURUSD15July15_zpsoc7oeird.png

EURUSD remained indecisive yesterday as it touched a low of 1.0965 and a high of 1.1071 but came down towards the end of the trading session. Now the pair is trading just below its 20day moving average of 1.1009 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.0950

RSI (14), CCI (14) are Neutral; STOCH (9, 6), MACD (12, 26), ADX (14), MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.0965 while Resistance is at 1.1076

15th July 2015 – 07:42hrs GMT


GBPUSD

GBPUSD15July15_zpsckagopno.png

GBPUSD was bullish yesterday as it touched a high of 1.5637 and remained strong towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5628 in the European trading session. The near term bias remains Bullish with targets of 1.5700

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

Support is at 1.5497 while Resistance is at 1.5672

15th July 2015 – 07:48hrs 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 July, 2015
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD15July15_zpsr2wbokss.png

AUDUSD was bullish yesterday and remained strong towards the end of the trading session. Now the pair is trading just above its 20day moving average of 0.7456 in the European trading session. The near term bias remains Bullish with targets of 0.7500

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 0.7449 while Resistance is at 0.7488

15th July 2015 – 07:58hrs GMT


USDJPY

USDJPY15July15_zpszeplgpyk.png

USDJPY remained indecisive yesterday as it touched a low of 122.99 but then recovered towards the end of the trading session. Now it is trading above its 20day moving average of 123.38 in the European trading session. The near term bias remains Bullish with targets of 124.00

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 123.22 while Resistance is at 123.73

15th July2015 – 08:02hrs 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.

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

US retail sales drop in June, weighing on Fed's interest rate decision

USA2_zpsu5bt2rfo.png

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $442.0 billion, a decrease of 0.3 percent from the previous month.

β€œUnexpectedly weak retail sales data adds to signs that the US economy is slowing again after pulling out of the soft patch earlier in the year” - MarkIt economist Chris Williamson.

β€œThe weakness of the sales data in June, alongside disappointing PMI survey data and a smaller than hoped-for rise in non-farm payrolls, all points to the economy having moved down a gear after this rebound, settling into a far weaker underlying pace of growth than was seen throughout much of last year” - MarkIt economist Chris Williamson.

"The numbers add to a growing body of evidence which suggests that the US economy is slowing again as we head into the second half of the year. Such a slowing will most likely persuade policymakers to hold off on raising rates until next year unless there is a swift revival of demand in coming months" - MarkIt economist Chris Williamson.

Chinese Stock markets fell further, with the Shanghai Composite down by -3.74% while the Shenzhen Composite lost -4.21%.

China's Economy Grew 7% in the second quarter of the 2015, being supported by the government's stimulus measures.

Bank of Japan kept its monetary policy unchanged, and downgraded its economic growth outlook for the year 2015. The Bank reduced its growth forecast to 1.7% from 2% for 2015.

In UK Interest rate hike is getting closer due to consistent UK economy's growth above the trend.

β€œThe point at which interest rates may begin to rise is moving closer with the performance of the economy, consistent growth above trend, a firming in domestic costs, counterbalanced somewhat by disinflation imported from abroad" - Mark Carney, BoE Governor.

Today Greek parliament is to vote on the bailout plan and pass the proposed reforms needed to secure the loans and avoid the default from the Eurozone. If the vote passes in the Greek parliament today it will require the support of the opposition parties.

Greek needs to pass the bailout plan to avoid a total Banking collapse and get assistance from the European Central Bank thru Emergency Liquidity Assistance.

Crude oil prices have jumped to $52.62 after Iran nuclear deal.

Gold is trading flat in the Europe at 1154.88, while Silver is weak at 15.29

15th July 2015 – 10:28hrs 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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