Daily Technical Analysis by FxGrow

[B]FxGrow Daily Technical Analysis – 05th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EURUSD - movement in 1.1500 direction, watch out on today’s U.S. nonfarm payrolls[/B]

Roaring success of the bulls at EURUSD is in full swing. After broke above bearish regression channel price also broke resistances at 1.1050 and 1.1120. Next resistance is at 1.1350 however it looks like the goal for demand is at 1.1500. That level is the upper limit of big channel in which price moved since 12 months. Only once during last year that level was exceeded for two days.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 05th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]GBPUSD - declines after U.S. nonfarm payrolls readings[/B]

After macroeconomic reading of U.S. nonfarm payrolls dollar strengthened. EURUSD and GBPUSD declined, but more interesting situation can be seen at GBPUSD. Nonfarm payrolls grew 151K in January, however that reading is almost 20% worse than the forecast. From the other side the unemployment rate edged down to 4.9% (what is also different from forecasts).

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 08th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EUR/USD - technical analysis of popular major[/B]

In last Thursday we could spot an attempt to break the 1,1250 area, where at least two Fibonacci levels are located. First one is the 61.8% of 24th August bear move - price didn’t really test it, but it was really close. Second resistance is a 100% level from the 100% pattern. Measuring the corrective move from 3rd of December we can draw the resistance line right in the place of reversal. This line was perfectly tested by the price and market reaction was perfect as well.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

FxGrow Daily Technical Analysis – 08th Feb, 2016
By FxGrow Research & Analysis Team

EUR/PLN – significant suport + weekly LONG signal

Single currency to Polish zloty moved above 4.3894 and 38.2% Fibonacci retracement (upward move from December lows) during few last session. Horizontal level had an important role at the end of 2014 – and now acts as the support. Monday’s session brings stronger reflection and move above 4.4300.

To read this Full in depth 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.

FxGrow Daily Technical Analysis – 09th Feb, 2016
By FxGrow Research & Analysis Team

EURGBP - highest since a year and test of important resistance

Since a mid-November EURGBP moved in an uptrend. Currently demand has a tough work to do, which is break above resistance at 0.7760. If it succeeds price should gain 250 pips and reach another resistance 0.8030. However if supply is stronger nearest supports will be located at levels: 0.7540, 0.7420.

To read this Full in depth 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.

[B]FxGrow Daily Technical Analysis – 09th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]USDJPY - new week, new low[/B]

There is a black scenario in game at USDJPY and today price reached 14-months low. It have to be noted that such scenario was indicated in the last week’s analysis. I wrote: “Currently price should continue previous declines. Nearest support is at 116.70 but even this year’s low at 116.10 could be tested”.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 10th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]AUDCAD - rebound from support near 0.9730[/B]

Since the beginning of January AUDCAD moved down. In this particular time support at area 0.9820 - 0.9840 stopped declines. Yesterday this support was broken below and price sharply fell 100 pips reaching 0.9730. Support at 0.9730 is very strong, it can be seen at weekly TF. Price rebounded at indicated level and upward movement continues today.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 10th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]Oil brent at support 30.50[/B]

Rebound which lasted 10 days is now only a memory and oil returned to downtrend. So far price stayed above 30.00 level however there isn’t any optimistic sign for the bulls. It is likely that side trend between 27.30 and 36.10 will be continued. In this area price moved since a month.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

FxGrow Daily Technical Analysis – 11th Feb, 2016
By FxGrow Research & Analysis Team

EURUSD - highest since October 2015

During semi-annual congressional testimony Janet Yellen wasn’t dovish enough, she said: “The FOMC anticipates that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate”.

Time-frame D1

To read this Full in depth 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.

FxGrow Daily Technical Analysis – 11th Feb, 2016
By FxGrow Research & Analysis Team

USDCAD - bulls are back, but a flag pattern suggests that the falls are not finished

After correction of 50% previous upward movement, at the chart occurred a candle with long bottom shadow. Such price action candles predict rebound. So it happened and for a week upward movement continues. However there is one concern. At time-frame H4 price formed flag pattern in a direction opposite to the previous movement (blue on the chart).

Time-frame D1

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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.

[B]FxGrow Daily Technical Analysis – 12th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]USDJPY - after 9 days of declines there is a hope for a rebound[/B]

Previous AUDJPY analysis was very profitable. I indicated flag pattern and direction of breakout. I wrote: ‘Flag is a pattern of trend continuation which means that price should break below lower limit of the flag according to a main downtrend’. As you can see breakout occurred and price sharply moved down. After rebound, since mid-January decline continues and yesterday price tested support at 77.60.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 12th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EURCAD - correction should occur[/B]

Macroeconomic data from US caused sharp downward movement at EURCAD. Rebound occurred when price moved above 1.5580 area which is nearest support. US retail sales were better than forecasted. Similar price reaction occurred at EURUSD.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 13th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EURUSD - movement towards 1.1160 support[/B]

Supply at EURUSD took over control after Thursday’s test of resistance at 1.1380. First support at 1.1320 wasn’t able to stop decline and today for the first minutes of trading downward movement is continuing. Nearest support is at 1.1160 but if it breaks stronger support will be located at 1.1100. One of that levels should make rebound.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 15th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]USDJPY - sharp return above 114.00[/B]

In previous analysis from February 9 I indicated weakness of the bulls at USDJPY and possibility of price movement towards 109.80. I wrote: ‘Demand is weak and support at 116.10 wasn’t defended. Nearest supports are at 114.00, 112.30. However it is likely that even support at 109.80 may be tested’.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 16th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]AUDNZD - side trend, since more than two months[/B]

In Friday 1.0560 are caused price rebound. It took place third time during six months period. Currently 1.0930 level should be tested. Since more than two months AUDNZD moves in side trend between above mentioned levels. Another attempts of breakout finished faster with rebound.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

FxGrow Daily Technical Analysis – 16th Feb, 2016
By FxGrow Research & Analysis Team

EURGBP - bulls offensive in progress

EURGBP moves in uptrend since lows from November 2015. Upward movement is very dynamic. Corrections which occurred during this period retraced only 23.6% of main trend. Struggle between demand and supply can be seen at 0.7760 - 0.7800. Because it lasts since a week it shows the determination of the bulls and the strength of that level. It can be found at weekly TF how important that level was in the past.

Time-frame H1

To read this Full in depth 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.

[B]FxGrow Daily Technical Analysis – 17th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]GBPUSD returned to declines, after short correction[/B]

Previous GBPUSD analysis gave almost 300 pips profit. I wrote: “If price stays above 1.4500 first target for falls will be at 1.4400. Next goal for bears will be 1.4200”. First indicated level was reached very fast and second level could be tested today. Current chart pattern supports declines.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 17th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]GBPCAD - lowest since 7 months[/B]

Since mid-January GBPCAD moves in a downtrend. Price moved above support 1.9890 until yesterday. Support was broke below and price continues its declines. Next support at 0.9730 also wasn’t able to stop further depreciation, due to this current goal for bears is 1.9480 level. Today’s macroeconomic data from UK labour market were weak and did not help with rebound. The unemployment rate stayed at 5,1% in December versus forecasted 5%.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 18th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EURUSD - above support 1.1100, movement towards 1.1380 possible[/B]

Since a week EURUSD continues downward movement. Yesterday better than forecasted macro data were published - the US Producer Price Index. The second macro data was FOMC minutes. Investors didn’t see nothing new in FOMC protocol and it was confirmed by lack of volatility at EUR/USD. Officials stressed timing of hikes would depend on data.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]

[B]FxGrow Daily Technical Analysis – 18th Feb, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]GBPAUD - rebound from support at 1.9900[/B]

Since a half year GBPAUD moved in a downtrend. Price moves inside bearish regression channel and its upper band wasn’t tested since early November. Yesterday price reached important support 1.9900 and today bullish rebound occurred. You shouldn’t see this as trend reversal, but it is likely that some upward movement will occur and it should reach at least 2.0640.

[B][I]To read this Full in depth Analysis please visit FxGrow.[/I][/B]

[I][B]Note:[/B] 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.[/I]