Daily Technical Analysis by FxGrow

Commercial Content Analysts
649

FxGrow Daily Technical Analysis – 25th Nov, 2016
By FxGrow Research & Analysis Team

GBP/USD IMMUNE TO DOLLAR PUSHING HIGHER, AWAITING Q3 GDP

800×436

GBP/USD is neutral since today’s opening trading sessions. The pair seems to be confused between 1.2428 low and 1.2457 high zone. Although US Dollar is hiking at a fast pace, peeking at new highs 102.11, the British Pound was immune against losses and it seems it to have picked up significant strength facing it’s USD rival. Right now, US index retreated to 101.71, still to be considered high relative to previous trading sessions, and the pair is closing to today’s high, currently trading at 1.2452 above weekly pivot at 1.2419. Also, traders should pay attention to 100 SMA at 1.2461 which to be considered a strong point in case the pair touches it. British Pound has a chance now in absence to US economic news to reclaim some gains and dignity as Sterling awaits second estimate GDP data, scheduled to be released at 9:30 AM GMT today.

Key levels to watch : Weekly Pp 1.2419

Trend: Bearish sideways

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.

650

[B]FxGrow Daily Technical Analysis – 28th Nov, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]EUR/USD MARCHES STEADILY AS USD PLUNGES, ECB EYED[/B]

EUR/USD closed the week flat around 1.0600, but not before extending this year’s decline to 1.0517 last Thursday, as demand for USD-related assets remained high, in spite of a shortened week in the US. FOMC Minutes released on Wednesday showed that FED’s officers are mostly agreeing on an upcoming rate hike for this December, reinforcing what the market already anticipated. At this point, 100% odds of a move higher in the US benchmark has been fully priced in, probably, one of the reasons behind dollar’s upward momentum fading.

Nevertheless, political uncertainty in Europe amid the referendum and elections in Italy and the UK with its Brexit, will likely keep the common currency subdued, at least, until the ECB and FED’s December meeting, which will likely set the tone for the pair for the first quarter of 2017. Today, EUR awaits major news with money supply report, and ECB as Draghi makes appearance with more impact on EUR/USD.

Technical levels to watch : Weekly pivot 1.0588

Trend: Bearish sideways

Resistance : R1 1.0685, R2 1.0715, R3 1.0746

Support : S1 1.0594, S2 1.0551, S3 1.0522

Remark: EUR/USD general mood is still bearish although morning showed some bullish correction taking into consideration strong US economy. Price range expected between R1 and S1, but look forward at 9:00 AM GMT as EURO awaits news that could possibly create more volatility breaking support and resistance depending on the outcome.

[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]

651

[B]FxGrow Daily Technical Analysis – 29th Nov, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]GOLD REBOUNDS ON WEAKER US DOLLAR, AWAITING FURTHER NEWS ON US TODAY[/B]

Gold performance last week was not up to expectations as the precious metal plunged to 1170.82 after strong US data, lowest level since February bringing its total losses to around $130 per ounce since Donald Trump won the US Presidential election. XAUUSD is in confusion this week, swinging between 1197 and 1182 handle as US dollar index surges. Gold clocked a high 1195.16, not long before plunging to 1188.72 low, currently 1189.89 intraday close to it’s weekly Pp.

XAUUSD is still considered bearish as Trump trade is moving in the right path and at the same time pressured by strong US economy and today, US data might cost gold further losses as US dollar awaits Prelim GDP scheduled at 1:30 PM GMT, and later on Consumer confidence at 3:00 PM GMT.

Trend : Bearish sideways

[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]

652

[B]FxGrow Daily Technical Analysis – 29th Nov, 2016[/B]
[I]By FxGrow Research & Analysis Team[/I]

[B]USD/JPY BEARISH CORRECTION RESPONSE TO POSITIVE LOCAL DATA, AWAITING US DATA[/B]

The Japanese Yen strengthened yesterday, first on weaker US dollar, later on the Yen was boosted by positive local data. USD/JPY reversed the bullish cycle as US dollar index plunged 101.18, not long before dropping from 101.60 yesterday highs. The pair yesterday clocked a high at 112.78, and as greenback weakened, USD/JPY retreated to 111.34 low. The pair received another negative shock resulted in an extension of bearish momentum as Japanese house hold spending scored -0.4% compared to -2.1% in previous sessions.

Although the pair made a short-term-downswing-correction resulted in bearish momentum as the dollar takes a break after a strong move, it still remains under the mercy of relatively strong US dollar awaiting Prelim GDP scheduled at 1:30 PM GMT, and later on Consumer confidence at 3:00 PM GMT. USD/JPY made it’s first test as first support and the level was successful resulted in reverse to bullish candle sending the pair above 112 handle ahead of further economic data.

Key levels to watch : Week;y Pp 112.41

Trend : Bullish Sideways

[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]

653

FxGrow Daily Technical Analysis – 30th Nov, 2016
By FxGrow Research & Analysis Team

OIL PRICES ARE POISED FOR OPEC-DEAL FINAL TOUCHES, US CRUDE INVENTORIES EYED

800×433

OPEC members are once again closing on final touches to strike a deal set in Vienna on the 30th of Nov between the old rivals. OPEC leaders are convening as final talks ahead of Wednesday’s announcement begin.

On the weekend, signs of rift erased the illusion that it was virtually a done deal. On the weekend, Algeria’s oil minister flew to Tehran to help break a deal. Also, Saudi official said the market could re-balance on its own. That was a signal they would be ready to walk away from any proposal. Iran and Iraq are the main key players in act of glue for the final oil cartel decision. Iraq has shown a willingness to compromise but it wants flexibility to bring production back online in ISIS-controlled areas. Iran is more insistent on raising production to 4 million barrels per day and beyond.

Technical levels to watch : Weekly Pp 47.01

Resistance levels : R1 46.81, R2 47.89, R3 48.65

Support levels : S1 44.43, S2 43.61, S3 43.04

Remark : traders should stay alert and tight attention to OPEC meeting results today in Vienna, also US crude oil inventories scheduled to be released at 3:30 PM GMT. These are the elemental keys for the coming crude oil price.

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.

654

FxGrow Daily Technical Analysis – 30th Nov, 2016
By FxGrow Research & Analysis Team

Canadian Dollar Surges On Weaker US Dollar, Awaiting Local Data

800×434

USD/CAD currently in bearish mood taking advantage of weakening Dollar as US dollar index 100.97 low today. The pair dropped on Monday to 1.3396, then rallied yesterday to 1.3480 high. USD/CAD touched 50 SMA 1.3444 from above then retreated 1.3412 today’s low, currently trading 1.3428 intraday.

Trend: Bearish sideways

Key levels to watch : Weekly Pp 1.3480

Resistance levels : R1 1.3455, R2 1.3486, R3 1.3523

Support : S1 1.3394 , S2 1.3363, S3 1.3327

Remark : Price range S1 and R1, but look forward for Canadian GDP, later on oil prices. Traders should expect more volatility on economic news.

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.

655

FxGrow Daily Technical Analysis – 01st Dec, 2016
By FxGrow Research & Analysis Team

BRITISH POUND RECOVERING AFTER CARNEY’S COMMENTS, AWAITING LOCAL DATA

800×433

The Sterling found a shelter yesterday against greenback as Carney on behalf of BOE, held the press conference yesterday with reassuring words coming out of his mouth directly to the press. Mr. Carneys’ comments regarding UK financial system suggest that the performance of the system indicates that UK passed several tests and obstacles this year. The drop in the Sterling since Brexit suggests markets expect modest real income growth, less open trade and consumers drawing down savings and borrowing for first time since crisis, reinforcing indebtedness.

GBP/USD nourished in early trading sessions after BOE statement yesterday, made a rally from 1.2502 low, clocked a high at 1.2541 at which the pair is trading right now.

Trend: Bullish Sideways

Key levels to watch : Weekly Pp 1.2433

Resistance levels : R1 1.2544, R2 1.2586 , R3 1.2637

Support levels : S1 1.2493, S2 1.2449, S3 1.2397

Remark : Although GBP/USD is bullish sideways, a bearish short-term-downswing should be taken into consideration due to crucial news today on UK and US economy. Price range between S1 and R1 but look forward for more volatility as UK releases manufacturing PMI today, later on US PMI scheduled at 3:00 PM GMT which will settle the rift between GBP/USD.

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.

656

FxGrow Daily Technical Analysis – 02nd Dec, 2016
By FxGrow Research & Analysis Team

GOLD SPIKES OM WEAKER US INDEX, NFP EYED

800×435

Gold remains strongly bid despite mixed US data yesterday. The haven metal rallied on Wednesday to 1194.96 highs, then plunged yesterday to 1160.70, lowest since second of January. The market is in fluctuation as NFP approaches further more as it give signs for Fed decision to hike rates later this month. Although US ISM PMI was positive, gold stood immune below 1160 level and took advantage of weaker US dollar index adding 16.04 USD from yesterday’s low, as US dollar drops 0.66 from 101.61 high. US Non-farm-Payrolls are scheduled to be released at 1:30 PM GMT which should bring new levels for gold knowing that the yellow metal is highly sensitive to interest rates.

Trend : Bearish Sideways

Key levels to wartch: Weekly Pp 1189.67

Resistance levels : R1 1181.97, R2 1195.79, R3 1209.41, R4 1219.41

Support levels : S1 1162.15 , S2 1151.33, S3 1142.52 , S4 1134.41

Remark : Price range between S1 and R1. Gold is still bearish including fluctuation bull candles as US news approaches. Look forward for more volatility as US NFP is released along with hourly average earning hours and unemployment rate.

For more in depth Research & Analysis please visit FxGrow.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

657

FxGrow Daily Technical Analysis – 02nd Dec, 2016
By FxGrow Research & Analysis Team

Euro Strengthen as US Dollar Retreats Ahead of NFP Data

800×432

Once again, after UK referendum, the EUROZONE will undergo a new harshtest as Italy will decide either to stay in the cartel or follow the path of its neighbor UK. The suspense of Italian referendum gave a lift to EUR EUR/USD is bullish for the next day taking advantage of poor US index performance and richer EUR index. US index is in bear candles for the next day, dropping today to 100.78 low after bullying the market significantly since Trump triumphed. EUR index on the other hand was on positive performance after long periods of being bearish. EUR index rallying yesterday’s from 86.64 low to 87.33 high today, gave an additional boost to EUR/USD today in addition to the suspense of Italian final claim regarding Eurozone.

Trend : Bullish sideways

Key levels to watch : Weekly Pp 1.0588

Resistance levels : R1 1.0712, R2 1.0791, R3 1.0857, R4 1.0948

Support Levels : S1 1.0639, S2 1.0563, S3 1.0496 , S4 1.0445

Remark : Look forward for high volatility on EUR/USD due to NFP release today at 1:30 PM GMT and the Italian final decision on Eurozone.

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.

658

Nice charts and good analysis.Welldone!

659

[I]Dear thomas,

Our dedicated team of employees adopts innovative solutions to bring forth a level of service and efficacy not found anywhere else in the industry. All this and more is geared towards a single purpose, the service of our clients and partners that remains as always, our number one priority. After all, it is only through their continued success that we too can sustain our success.

Best Regards
FxGrow Support[/I]

660

FxGrow Daily Technical Analysis – 05th Dec, 2016
By FxGrow Research & Analysis Team

Sterling Strengthen on Weaker US Dollar, Services PMI Eyed

800×433

GBP/USD is on bullish momentum for the third consecutive session. The pair rallied on Thursday from 1.2502 lows till Friday’s 1.2737 39-days-fresh-highs taking advantage of weak US dollar performance last week as US index plunges 100.70 low after a hysterical increase resulted in 102.12 highs (14 years best performance). GPB/USD opened today at 1.2679, clocked Friday’s high at 1.2737 too, but failed to guard the 1.27 level as the pair drops to 1.2625 low, currently trading at 1.2698 intraday.

Trend : bullish

Key levels to watch : Weekly Pp 1.2619

Resistance levels : R1 1.2748 , R2 1.2835, R3 1.2910

Support Levels : S1 1.2618, S2 1.2560, R3 1.2476

Remark : GBP/USD is considered bullish and on recovery track after long periods or bearish. UK service PMI today will give a better outlook for the cable trend. Also US ISM Non-Manufacturing PMI today scheduled at 3:00 PM GMT to be taken into consideration.

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.

661

FxGrow Daily Technical Analysis – 06th Dec, 2016
By FxGrow Research & Analysis Team

AUD/USD Bearish Move as The RBA Kept Rates On-Hold, Awaiting Aussie’s GDP

800×435

The Reserve Bank of Australia decided-once-again to leave interest rates at 1.5% untouched which was widely anticipated by the market pushing the Aussie lower and giving breathe to the US dollar. AUD/USD opened with bearish mood as the pair drops to first support 0.7441 (50 SMA), reversed to bullish momentum as S1 was successfully tested, currently trading at 0.7444 intraday, closing to 100 SMA 0.7465 as the RBA changed a little bit in his statement being more cautious on economic growth. Australian Dollar took advantage of continuous US dollar weak performance as the index dropped below the 100 level yesterday at 99.87 2-weeks-fresh-low. Australian current account scored -11.4B compared to -15.9B previously, while forecasts were at -13.6B.

Trend: Bearish Sideways

Key levels to watch : Weekly Pp 0.7443

Resistance levels : R1 0.7486, R2 0.7513, R3 0.7563

Support levels : S1 0.7441, S2 0.7413 , S3 0.7369

Remark : AUD/USD to be considered Bullish with expectations of short-term-downswing taking into consideration relatively strong US economy to be considered. Look forward for Australian GDP result which will give a better outlook on how the pair will perform.

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.

662

FxGrow Daily Technical Analysis – 06th Dec, 2016
By FxGrow Research & Analysis Team

EUR/USD Surges As Italy Decides to Stay In EuroZone

800×433

EUR/USD received a positive shock on Monday’s early trading sessions as Italy Referendum to remain in Eurozone was positive. The Brexit seems to awaken sense of fear on EURO as British Pound lost value facing strong greenback. The Italian Referendum suspense had it’s impact on the EUR/USD as the pair plunged on Friday to 1.0503 new-year-fresh-lows but as final vote decided that Italy to stay in the Eurozone, the pair surged on a highly pace yesterday, flirting with 1.08 level, clocking a high 1.0795, then faded away slightly, currently trading at 1.0749.

Trend : Bullish

Key levels to watch : Weekly Pp 1.0639

Resistance levels : R1 1.0789 100 SMA, R2 1.0838, R3 1.0874

Support levels : S1 1.0719, S2 1.0680, S3 1.0628

Remark : EUR/USD to be considered bullish but keep in mind that although US dollar is weak these days, it’s still considered strong with US index currently trading 100.25 intraday. Look forward for economic EURO news scheduled all day long which should bring new levels for EUR/USD.

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.

663

FxGrow Daily Technical Analysis – 07th Dec, 2016
By FxGrow Research & Analysis Team

Kiwi Strengthen on Positive Local Data, Awaiting Wheeler Comments

800×431

Imre Speizer, Research Analyst at Westpac, suggests that the NZD/USD should grind towards 0.7200 this week if the US dollar’s recent decline extends further. Also, NZ economic data continues growing, recently evidenced by the GDT dairy auction which increased 4% which was anticipated by futures pricing. In addition to that, US dollar was on second weak performance as US index dropped for the first time since Trump election to 99.88 after spiking to 102.12 on 24th of Nov.

Trend: Bullish sideways.

Key levels to watch : Weekly Pp 0.7113

Resistance levels : R1 0.7129, R2 0.7166, R3 0.7205, R4 0.7240

Support levels : S1 0.7094, S2 0.7065, S3 0.7023, S4 0.6990

Remark : NZD/USD is bullish sideways. Even though Kiwi economy is growing, US dollar still to be considered strong even on past days of weak performance. Look froward for Wheeler speech tonight as NZ economy will respond and the pair volatility would increase.

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.

664

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

USD/JPY Bearish On Weaker USD performance, awaiting further data

800×433

Japanese economy witnessed a mix between positive and negative data. Japanese current account rose 0.45T compared to 1.48T previously, while final GDP was 0.3%, less by 0.2% in last GDP. Bank lending showed no change at 2.4%. On the other hand, Chinese trade balance came 298B, less by 27B in last balance at 398B. Taking into consideration negative atmosphere in economic Asian data, one of the reason that justifies why USD/JPY was not bullish in the weakness of US dollar performance the past few days as US index dropped to 100.00 low yesterday, not long before dropping below 100 level at 99.87 on Monday.

Trend: Bullish Sideways

Key levels to watch : Weekly Pp 113.25

Resistance levels : R1 113.84, R2 114.48, R3 115.05

Support levels: S1 112.90, S2 112.50, S3 111.93

Remark : USD/JPY to be considered bullish with short-term-correction. US dollar on weak performance but still relatively strong. Market is highly poised for US fed rate decision next week but economic data cannot be ignored. Look forward for US Unemployment claims today at 1:30 PM GMT which might create some volatility in the market.

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.

665

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

EUR/USD Back to fragile state after Draghi’s Speech

800×432

Eurozone, once again votes for unchanged bid rate and left still at 0.00%. But the action came later on as Draghi made speech in which he extended bond purchasing program from April 2017 till the end of December 2017 with additional edition in which the ECB deducts 20B Euro from 80B per month-bond-purchasing. The market did not receive the suggested policy in open arms as they reacted in lesser confidence towards EUR currency. EUR/USD peeked yesterday ahead of local news and suspense took the EUR/USD on a chaotic ride as it spiked 1.0873 2-weeks-fresh highs, then the pair rolled down sinking to 1.0597 low.

Trend : Bearish

Key levels to watch : Weekly Pivot 1.0639

Resistance levels : R1 1.0651 , R2 1.0688 , R3 1.0721, R4 1.077

Support Levels : S1 1.0584 , S2 1.0544, S3 1.0506, S4 1.0477

Remark : EUR/USD is bearish due to disappointing news on ECB policy yesterday and USD recovered and back in bully shape. Look forward for US consumer sentiment today at 3:00 PM GMT which could create some volatility in the market. Also, the focus now is shifted from ECB monetary and fiscal policy, to US FED rate that everyone is awaiting. Also R3 is a strong level in case of price penetration will trigger R4 level.

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.

666

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

GBP/USD Sinks on stronger US dollar, Awaiting local data

800×434

GBP/USD rallied on yesterday’s trading sessions to 1.2704 highs, but failed to hold strongly gains against greenback as the pair bearish-ed to 1.2548 lows. There were no macroeconomic signals from Big Ben, although it was the final day of the Supreme Court’s hearing on Brexit, to decide whether Theresa May should get the Parliament’s permission to trigger the Article 50, but a decision will be known probably next week. Sterling is still on soft ground as long as supreme court is still postponing the final decision regarding it’s pre-twin-mate, the Eurozone.
Trend : bearish sideways

Key levels to watch : Weekly Pp 1.2619

Resistance levels : R1 1.2634 , R2 1.2683, R3 1.2729

Support Levels : S1 1.2528, S2 1.2484, S3 1.2420

Remark : Look forward for UK data today at 9:30 AM GMT, later on US data at 3:00 PM GMT which will create some volatility but the main focus is currently shifted towards next Fed Rate meeting and possible outcomes.

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.

667

FxGrow Daily Technical Analysis – 13th Dec, 2016
By FxGrow Research & Analysis Team

GBP/USD Surges on weaker US dollar, Local CPI Eyed

800×434

GBP/USD rallied yesterday from 1.2566 low, knocked on 1.27 level, then faded away as the pair closed at 1.2674 after clocking a high 1.2699. Although UK local data was not to expectations, the cable found a shelter in US index weak performance yesterday after remarkable job on Friday. The index dropped to 100.86 yesterday, but before that, it was on 101.82 peek. Currently the pair is trading 1.2672 intraday, above it’s weekly pivot at 1.2631.

This week, economic calendar is heavily colored with local UK data, but the FOMC meeting and the possible outcome of anticipated Fed Rate hike stole the thunder lightning and traders are ignoring everything except the FOMC.

Trend: Bullish Sideways , the upside prevails

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.

668

FxGrow Daily Technical Analysis – 14th Dec, 2016
By FxGrow Research & Analysis Team

Trade on FOMC news, Technical levels to watch EUR/USD technical levels to watch :

EUR/USD technical levels to watch :

Weekly Pp : 1.0647

Resistance levels : R1 1.0679 , R2 1.0732, R3 1.0795, R4 1.0856

Support levels : S1 1.0605, S2 1.0568, S3 1.0518, S4 1.0420

GBP/USD Technical levels to watch:

Weekly Pp : 1.2632

Resistance levels : R1 1.2696, R2 1.2767, R3 1.2849, R4 1.2945

Support levels : S1 1.2600 , S2 1.2516, S3 1.2413, S4 1.2312

USD/JPY technical levels to watch :

Weekly Pp : 114.55

Resistance levels : R1 115.54, R2 116.23, R3 116.90, R4 117.66

Support levels : S1 114.38, S2 113.38, S3 112.51, S4 111.63

AUD/USD technical levels to watch :

Weekly Pp : 0.7457

Resistance levels : R1 0.7532, R2 0.7582, R3 0.7634, R4 0.7685

Support levels : S1 0.7474, S2 0.7428, S3 0.7383, S4 0.7350

NZD/USD technical levels to watch :

Weekly Pp 0.7142

Resistance levels : R1 0.7247, R2 0.7303, R3 0.7367, R4 0.7436

Support : levels : S1 0.7171, S2 0.7099, S3 70.42, S4 0.6984

USD/CAD technical levels to watch :

Weekly Pp : 1.3229

Resistance levels: R1 1.3166 , R2 3263, R3 1.3357, R4 1.3435

Support levels : S1 1.3073, S2 1.3002, S3 1.2935, S4 1.2853

Gold technical levels to watch :

Weekly Pp : 1167.37

resistance levels : R1 1170.08, R2 1183.19, R3 1199.88, R4 1230.36

Support levels : S1 1151.60, S2 1140.87, S3 1129.21 , S4 1114.46

Crude oil technical levels to watch :

Weekly Pp : 51.18

Resistance levels : R1 53.12, R2 54.56, R3 55.72, R4 56.96

Support levels : S1 51.63, S2 49.82, S3 47.84, S4 46.22

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.