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[B]FxGrow Daily Technical Analysis – 17th Oct, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]
[B]AUD/USD dropped ahead of RBA meeting[/B]
AUD/USD opened with 0.7621 high, then retreated to 0.7581 ( today’s low). AUD/USD made a correction, then started a bullish trend at 9 AM GMT, re-bounced to 0.7616, currently trading at 0.7610 after the RBA released its October financial stability review. However, the AUDUSD remained under pressure as the local housing supply is causing risk and ahead of RBA’s latest monetary policy meeting minutes during early Asian session on Tuesday expecting to stay on the wait and see approach.
Trend:l bullish
[B][I]For more in depth Research & 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 – 18th Oct, 2016
By FxGrow Research & Analysis Team
The British POUND HELD ABOVE 1.22 HANDLE, AWAITING CPI Data
GBP/USD rose 97 pips in early morning trading sessions. The sterling received a push yesterday after disappointing manufacturing index -6.8 and industrial production 0.1% not meeting expectations 0.3%. The U.S Dollar index also tumbled -0.15% in in Asian sessions 97.76%. As a result, U.S Dollar lost it’s pace, and British Pound gained some profits as Prime Minister Theresa May is prepared to listen to top ministers opinion for leaving EU, GBP/USD clocked a high 1.2273, currently trading at 1.2230, above daily Pp, but leaving the EU single market will be harsh on sterling thus remaining under pressure. GBP/USD awaits today British Core CPI which will set the on-going trend knowing that good CPI data will encourage the BOE to take more actions.
Trend : bearish
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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.
FxGrow Daily Technical Analysis – 18th Oct, 2016
By FxGrow Research & Analysis Team
NZDUSD RALLIES ON STRONGER THAN EXPECTED CPI DATA
NZD/USD extended contentious bullish H4 candle charts, rallying from 0.7128 (low), touching 0.7198 high as the CPI rose 0.2% in the third quarter.The Kiwi is expected to continue surging as good data lowered the RBNZ rate cut decision. Currently NZD/USD trading 0.7196, closing to the first resistance 0.7200 handle. Add to that, the New Zealand government bond yields also rose on positive data which drove the NZD/USD to peek.
Trend : bullish
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.
FxGrow Daily Technical Analysis – 19th Oct, 2016
By FxGrow Research & Analysis Team
WTI OIL TURNED HAWKISH, AWAITING US CRUDE OIL INVENTORIES REPORT
The option of inviting the US into Opec’s cartel is now on the table as OPEC secretary Barkindo whispered to reporters on Tuesday in London. US could be invited to OPEC next meeting in Vienna but only after US presidential election on Nov 8. OPEC members are expected to limit production range between 32.5 or 33 million However, US already clarified loud and clear that they are subject to any oil quotas.
The latest reports from Saudi shows that its exports fell in Aug according to Reuters inventory data. In a separate news piece, Saudi’s state owned company, Aramco is said to boost crude supplies to China in September. Meanwhile, both crude benchmarks trade with size-able gains amid reports of falling exports from Iran as well as from Saudi.
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.
FxGrow Daily Technical Analysis – 21st Oct, 2016
By FxGrow Research & Analysis Team
USD/CAD RALLIED ON STRONGER DOLLAR INDEX, AWAITING CORE CPI
The USD/CAD digested Wednesday’s gains first as response to negative trade and commerce data held by Mr. Poloz, second by positive U.S data yesterday on Philly index. The greenback surged yesterday to 98.50, causing the USD/CAD to rally from 1.3006 ( Wednesday low), to 1.3257 (251 pip) . Although the crude oil is still above 50 handle, it was not enough for the US Dollar to loosen it’s grip on it’s neighbor Canadian Dollar, currently trading at 1.3257 intraday, closing to last week highs. Today, Canadian Dollar awaits the Core retail sales which will determine if the U.S Dollar continues it’s domination or give some chance for Canadian Dollar to breathe.
Trend: bullish
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.
FxGrow Daily Technical Analysis – 21st Oct, 2016
By FxGrow Research & Analysis Team
SILVER TUMBLES AS US DOLLAR INDEX STRENGTHEN
XAGUSD started a bearish trend as the greenback received positive economic data-Philly index (9.7). Silver dropped from yesterday’s high 17.73 to 17.44 (-29 pips), and closed at 17.52. US Dollar index rose yesterday and peeked to 98.5%, making it’s opponent to look weak. Although silver bounced and made a correction, currently trading 17.52 intraday, still under it’s daily pivot at 17.71, XAGUSD is till under pressure by US Dollar.
Trend: Neutral bearish
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.
FxGrow Daily Technical Analysis – 24th Oct, 2016
By FxGrow Research & Analysis Team
THE EURO REMAINS UNDER PRESSURE AWAITING GERMAN IFO
EUR/USD extends losses since last week hitting the bottom at 1.0866 -14%. The pair keeps the offered tone intact as the US dollar peeks to new eight-month highs 98.85 in response to hawkish Fed that boosted the odds for a Fed rate hike this year. Add to that, Draghi gave hints for extending the OE program, as a result, the EUR/USD tumbled from Friday’s highs 1.0929, hitting today’s low at 1.0859. The EUR/USD is still under pressure and expected to keep it’s bearish trend, awaiting tomorrow’s German IFO and Draghi’s speech which will give heads up on how the EUR/USD will settle.
Trend: Bearish
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.
FxGrow Daily Technical Analysis – 24th Oct, 2016
By FxGrow Research & Analysis Team
Japanese Yen Still Under Pressure, Bank of Japan is Vague About it’s Monetary Policy
On Friday 21, Mr. Kuroda, head of Bank Japan and monetary policy, gave heads up regarding current fiscal policy showing quantitative and qualitative easing affecting the Yen but continue assessing negative interest rate policy and hinted that fiscal policy 2017 needs further revision. Mr. Koruda has regularly expressed his commitment to achieve 2% inflation as soon as possible without specifying a date. Due to the uncertainty on the Japanese economy, the USD/JPY started a rally on Friday from 103.52 low and clocked 104.20 high.
On Asian trading sessions, the Yen received positive news on trade balance and manufacturing PMI, as a result the USD/JPY took a break and dove to 103.72 as Japanese exporters supported the Yen higher then re-bounced to 103.99 high, given the US dollar index peeking to eight-month highs 98.85 in response to hawkish Fed speaks and election suspense. The USD/JPY currently trading at 103.84, the Japenese Yen is still under pressure ahead of further local and US data.
Trend: Bullish
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.
FxGrow Daily Technical Analysis – 25th Oct, 2016
By FxGrow Research & Analysis Team
GBP/USD BEARISH OUTLOOK, AWAITING CARNEY’S SPEECH
Although GBP/USD is currently stable, trading sideways between 1.2210 and 1.2235 this morning, the pair is still under pressure on stronger US Dollar after strong manufacturing data and in response to hawkish Fed speaks that boosted the odds for a Fed rate hike this year. Research Team at BBH, notes that the Bank of England Governor Carney was criticized by many government officials that favored the UK leaving the EU. Today he appears before the House of Lords, many of which claim that the BOE misjudged the fallout from Brexit. Currently the GBP/USD trading at 1.2219, still under it’s daily pivot.
Trend : Neutral bearish
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.
FxGrow Daily Technical Analysis – 25th Oct, 2016
By FxGrow Research & Analysis Team
Oil Price Remains Up Ahead of US Crude Inventories
Crude oil prices are hanging strongly at $50 handle although market has doubt about an OPEC deal. Iraqi oil minister’s comments were the headline of the story for investors as they worry about difficulties for an OPEC deal is harder to put together than the Saudi’s and Russian are suggesting. At the meeting held in Algeria at the end of September, the OPEC nations agreed to introduce a ceiling on OPEC’s total output of around 32.5-33.0m barrels per day, which would imply a production cut from the current level. As a result, OPEC took a major step toward acting as a cartel once again.
Trend : Bullish
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.
FxGrow Daily Technical Analysis – 26th Oct, 2016
By FxGrow Research & Analysis Team
AUD/USD HIKES IN RESPONSE TO POSITIVE CPI DATA
The AUD/USD kept it’s strong tone and extended gains since Monday lead by upbeat Australian CPI report 0.7% q/q and negative US consumer confidence 98.6 yesterday. As a result, the pair rallied from 0.7628 and scored a high at 0.7708, currently trading at 0.7697 intraday. the Australian Dollar strengthen on stronger data giving signs that the Reserve Bank of Australia is not going to cut rates on their next meeting. The pair awaits tomorrow’s US data and next week RBA meeting which will either strengthen the US dollar or the Aussie will stay bullish depending on the outcome.
Trend: bullish
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.
FxGrow Daily Technical Analysis – 27th Oct, 2016
By FxGrow Research & Analysis Team
GOLD REMAINS UNDER PRESSURE ALTHOUGH IT IS TRADING SHORT-TERM UPSWING
Although we have witnessed a slight increase in gold spot price, it’s remains under pressure by US dollar control. XAUUSD rallied on Tuesday from 1262.11 low and clocked a high 1276.7 after negative US consumer confidence. On yesterday trading sessions, gold couldn’t keep it’s short upswing gains but decreased again to touch 1264.69 from below as US dollar index peeked to 99.09. Today US dollar index sank to 98.61 and gold took a slight break rising to 1269.04 intraday, near it’s daily pivot but still under pressure awaiting further central banks decision in the coming period.
Trend: bearish
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.
FxGrow Daily Technical Analysis – 28th Oct, 2016
By FxGrow Research & Analysis Team
THE EUR/USD CLIMBS AT A SLOW RATE AS ECB EASING MEASURES FADED
EUR/USD started a bullish trend at a slow pace in respond to neutral US economic report yesterday. The pair rallied today from 1.0829 low and clocked a high 1.0924 in response to positive EU data especially German CPI givig signs that tthe ECB is not going to ease its policy at these times. In addition, US dollar index dropped from yesterday high 99.0 to today’s low 98.74, currently trading at 98.80. Although EUR/USD trend is short-term-upswing, the pair remains under pressure by strong greenback.
Trend: Bearish
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.
FxGrow Daily Technical Analysis – 01st Nov, 2016
By FxGrow Research & Analysis Team
GBP/USD MAKES SLIGHT RECOVERY BUT REMAINS UNDER PRESSURE, AWAITING GBP PMI
GBP/USD started an uptrend rise since yesterday as Carney’s accepted to extend his duties as head of BOE. The US dollar index remains on track but touches 98.31 low yesterday as US data failed to meet expectations awaiting US elections. The pair opened today at 1.2233, sank to 1.2210 low, then recovered and took a hawkish mood clocking a high at 1.2244, currently trading at 1.2226 intraday. GBP/USD still remains under pressure on strong US economy but it’s currently stable trading above it’s Daily Pp .12212. Today, the Pound undergoes a test where it might have the chance to extend it’s further recovery as GBP PMI data awaits.
Trend: Bearish with short-term-upswing.
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.
FxGrow Daily Technical Analysis – 01st Nov, 2016
By FxGrow Research & Analysis Team
AUD/USD RESPONDS POSITIVELY TO RBA AND TO STRONG CHINESE DATA
The Aussie dollar opened with a strong tone as RBA decided to leave the cash rate unchanged at 1.5% since the Australian economy is growing at the moment and labor conditions has improved as the RBA’s latest release suggested. Add to that, positive Chinese PMI data at 51.2 early this morning, both energized AUD/USD bullish trend rallying from 0.7597 (today’s low), to touch 0.7672 high (75 pips). AUD/USD is expected to continue is hawkish trend today, awaiting US PMI at 2 PM GMT which will give a better outlook if the Aussie dollar will continue it’s strong tone or submit to the greenback depending on the outcome.
Trend : Bullish
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.
FxGrow Daily Technical Analysis – 01st Nov, 2016
By FxGrow Research & Analysis Team
Global Markets are Dismissing US Political Developments Ahead of Election Results
The IBD/TIPP poll shows that Clinton is leading in the Northeast with Trump polling higher in the South. However, Real Clear politics revealed that ‘national polls’ gave Trump the lead about 48% vs. 43% for Clinton. But Trump was rude in the second debate and the worst thing he did is that he was aggressive with women giving a 20 points lead to Clinton.
The second debate between Trump and Clinton send the Mexican Peso higher as the survey declared that Clinton wins. Then the Mexican Peso dropped when trump was at the top of the polls.
Biotech stocks have been sluggish on Clinton who is expected to be tough on drug pricing if she wins the presidential election. Anyways, global Stocks closed lower on rising uncertainties over US elections especially after FBI investigation.
The US Dollars had surged about 2.5% on election suspense Knowing that Clinton have passed Trump by 3% and at the same time on rising expectations of a Fed rate hike in December. The US Dollar then slipped from highs as FBI investigation on Hillary Clinton private emails weighed on the US presidential election. In addition, some analysts claimed that if Trump wins the election, the US economy will face uncertainties and thus the dollar might face severe losses.
The Japanese Yen will benefit the most from the US elections knowing that it is a safe haven currency. Moreover, gold which is known as the safe haven metal will play a big role into the elections as uncertainties rises. Gold rose lately as the FBI obtained a warrant to investigate on Hillary Clinton use of private email system knowing that the email is not illegal but could cause damage to the law enforcement agency as they revealed.
The RCP polling showed lately that Clinton lead five percent over Trump until this moment.
Americans will vote on 8 November to choose their next president but any unexpected outcome will force the Federal Reserve to change their decision regarding interest rate hike this year.
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.
FxGrow Daily Technical Analysis – 02nd Nov, 2016
By FxGrow Research & Analysis Team
JAPANESE YEN STRENGTHEN AFTER BOJ’S KURODA STRONG, AGGRESSIVE TONE
USD/JPY extended it’s bearish momentum since yesterday after US data failed to meet expectations and US index dropping to 97.62 low yesterday.
Kuroda, head of BOJ, appeared with strong bold tone committing to the program until price target is reached. Key Quotes:
“Thinking over buying of local, municipal debt but not easy task”
“Hard task to try to score direct hit of 2% inflation target”
“Board will continue with ‘aggressive, bold easing’ until price target reached”
Add to that US election suspense, gave the Japanese Yen a break from strong US dollar control over the last week after reaching highs 105.53 on 28th of Oct. Right now, USD/JPY is trading at 103.78, after dropping to 103.62 low. Even though USD/JPY seems in bearish mood, but the US dollar keeps the pace as today FOMC are scheduled at 6 PM GMT as final statement.
Trend: sideways Bullish
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.
FxGrow Daily Technical Analysis – 02nd Nov, 2016
By FxGrow Research & Analysis Team
OIL PRICES SANK ON EXPECTATIONS OF AN INCREASE IN US CRUDE INVENTORIES
Chances of success for the effort to curb global oil supply are getting thinner by the day. OPEC members have a rift on share cut distribution already, add to that inviting new members like Iran, Iraq, Nigeria, and lately Russia made things worse in terms for assigning production. Iran and Iraq wants to be excused from the party, and Russia is giving vague signals on OPEC-final-deal decisions. Then there’s Brazil, whose Oil and Gas Secretary this weekend delivered yet another blow to the cartel that once held the reins to the global oil price trends. Over the week, Marcio Felix told media in Vienna that “Yes, the Brazilian production is increasing… I do not have the exact figures, but the production in Brazil will grow in the next few years, we have such plans.” Felix attended a meeting between OPEC and a number of non-OPEC producers, but as the minister noted, only “as observers”. This wasn’t OPEC’s goal, however. OPEC wanted to convince external producers to take part in the freeze/cut, to make it more meaningful. That effort failed.
The atmosphere surrounding crude oil price suggests that prices to be expected to extend losses with no OPEC-cut-deal on the horizon and US efforts seeking lower price suggests that US hopes may come true after all today depending on their crude oil inventories at 2:30 PM GMT.
Trend : bearish
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.
[B]FxGrow Daily Technical Analysis – 04th Nov, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]
[B]BRITISH POUND HIKES ON BOE OPTIMISTIC DATA[/B]
Eurozone clutches with Sterling and refuse to set Britan free one and for all before triggering article 50. BOE tone was stronger than expected as they shifted from easing to neutral bias claiming that a respond in either direction is optional as they see fit since economic data has been significant to the Brexit uncertainties while the steep GBP depreciation means that CPI inflation will increase sharply next year.
Although the sterling surged higher yesterday rallying from 1.2296 low and clocked high 1.2494, currently swinging between 1.2449 low and 1.2481 high. GBP/USD trend remains bearish, and seems to be in desperate push today as US Payroll and unemployment rate data are scheduled to be released at 12:30 PM GMT. GBP/USD SMA 100 (1.2326 H4), SMA 100 (1.2671) at H4
Trend: Bearish sideways
First resistance R1 1.2503. R2 1.2561, R31.2616
First support: S1 1.2415, S2 1.2358, S3 1.2287
Remark: Even though GBP/USD took a bullish trend it’s still considered Bearish between S1 and R1 in absence of news but high volatility is expected to kick shortly before US elections.
[B][I]For more in depth Research & 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]