Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 15th May, 2017
By FxGrow Research & Analysis Team

Aussie Marches Steadily Ahead of RBA Policy Meeting

Aussie traded Monday’s session with a sharp tone facing wallowing U.S Dollar. AUD/USD over passed 10-EMA at 0.7400 as the pair peeked today to 0.7445 high with 61-pips price action. Although Chinese Data was negative earlier today which should have a negative impact on the Aussie, but collapsing U.S Dollar gave a higher push for AUD/USD, supported by a rising trend line H1 frame.

AUD/USD is currently trading 0.7419, still above above its pivot point at 0.7375 which should keep Aussie bullish forces in action and the pair could stretch additional gains technically.

As for fundamentals, Aussie awaits RBA Policy Meeting tomorrow early with expectations that the statment will be concluded with a neutral bias given last week negative Australian Data which could impact AUD/USD negatively, but still market has to watch the statement closely with expectations wide open.

Fundamentals:

AUD - RBA Monetary Policy Meeting Minutes tomorrow at 1:30 AM GMT.

USD- Building Permits tomorrow at 1:30 PM GMT.

Technical Overview:

Pivot: 0.7375

Trend: Bearish Sideways

Resistance levels: R1 0.7458, R2 0.7489, R3 0.7522, R4 0.7553 (H1)

Support levels: S1 0.7396, S2 0.7378, S3 0.7341, S4 0.7291 (H1)

Comment: Aussie remains as general trend, but AUD/USD built a promising bullish trend line with expectations for further gains taking into consideration week U.S Dollar. AUD/USD broke 0.7425 from which the pair witnessed intensive declines, and staying above it supports current bullish momentum. Closing above 0.7425 keeps bullish forces in action but be careful from setbacks due to RBA meeting content. Closing above R3 level is needed for daily trend reversal. Keep an eye on U.S Index level with correlation to U.S Data tomorrow.

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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.

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FxGrow Daily Technical Analysis – 16th May, 2017
By FxGrow Research & Analysis Team

Sterling: No-Game Changer for May’s Speech, Eyes on local Data

GBP/USD remained neutral bias trading yesterday as PM May spoke to UK citizens, not adding much for Brexit issue but instead, a speech was given, with a mobilizing content with efforts to add more votes to her already-high polls for June’s elections. Market is already expired on the fact that May is a winner and the the pair has fulfilled its purpose, as a result, Sterling remained within last week trading range, but in absence of macro events (Yesterday) responsible for GBP/USD bullish momentum, the weakness in U.S Dollar was the main pusher for the pair.

Currently, the pair is trading 1.2915 with 24-price action for Tuesday’s trading sessions and 12-pips above it’s 20-EMA moving average one hour time frame. The pair has a support by an increasing trend line (H1), and U.S Dollar opened Tuesday’s sessions with bearish momentum as the Index dropped by 3-pips behind yesterday’s low at 98.65 at the moment which should give enough room for GBP/USD to surge further more. Latest claims by U.S media suggest that Trump has leaked classified data with Russian Officials through last week meeting.

Sterling awaits major data today that hold key figures for April-2017, which in case positive, traders should expect fueling bullish rallies for GBP/USD as market tend to price the next BOE Interest Rates meeting.

Fundamentals:

1- GBP - CPI (Consumer Price Index) y/y today at 8:30 AM GMT.

2- GBP - PPI (Producer Price Index) y/y todat at 8:30 AM GMT.

3- GBP - Core CPI today at 8:30 AM GMT.

4- GBP - RPI (Retail Price Index) today at 8:30 GMT

5- USD- Building permits today at 12:30 AM GMT.

Note: Sterling data has a heavier impact, more than USD and taking into consideration that currently bad politics surrounds the White House. Traders should focus on UK data more.

Technical Overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.2953, R2 1.3062, R3 1.3172

Support Levels: S1 1.2829, S2 1.2752, S3 1.2678

Comment: GBP/USD currently bullish but due to high impact data, expectations of high volatility after release. A break above R1 level supported by positive data and June coming elections as PM May heads the polls, should fuel Sterling with strong bullish waves seeing R2 level as the first destination, a weaker U.S Dollar performance could contribute to the pair additional rallies seeing R3 as next target. On the other hand, a negative data would decrease odds of BOE next rate meeting which could result in declines for GBP/USD, but dips should fight S1 level, in case of penetration, additional declines are expected with selloffs and wash towards S2&S3 level. Keep in mind that the pair is still supported by positive expectations for June elections which indicates that GBP/USD can overcome losses. closing below S3 alerts for bearish momentum. Closing above R1 is positive.

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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.

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FxGrow Daily Technical Analysis – 16th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Inclines As U.S dollar Declines, Eyes on EU GDP

EUR/USD currently 1.1014, only 3-pips behind to overpass 8th of May’s highs since Macron was elected with a continuous re-bounds and rejection for 20-EMA at 1.088. The pair is supported by a strong (H1) trend line and non-top higher highs indicating that the pair is marching for additional gains. There are no macro economic events supporting the rising trend which leaves EURO bullish momentum seeing weakness in U.S Dollar as the Index dipped to 98.45 low with possibilities to clock a new low for 2017.

Apparently, U.S media’s accusations that Trump leaked classified data with Russian Official during last week’s meeting keeps adding negative pressure on greenback along with U.S negative Empire State Manufacturing Index yesterday at -0.1 compared to 5.2 previously. Question marks surrounds U.S economy performance with mixing data released on weekly basis in addition to political rift between Republicans and Democrats keeps pushing U.S Dollar lower.

EURO awaits major data today but EU flash GDP will take center stage which will set the tone for ECB Interest Rates next meeting and in case positive, Draghi will be cornered having few options whether to increase rates to accommodate inflation figures and QE will be a greasy item on the ECB press conference. Analysts has always pointed out the Draghi favors lower EURO levels with efforts to attract investments, enhancing industrial performance which should increase exports, thus a healthier economy.

Fundamentals:

1- EUR - EU Flash GDP today at 9:00 AM GMT.

2- EUR - German ZEW Economic Sentiment today at 9:00 AM GMT.

3- EUR - Trade Balance today at 9:00 AM GMT

4- USD - Building permits today at 12:20 PM GMT.

Technical overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.1041, R2 1.1081, R3 1.1138

Support levels: S1 1.0953, S2 1.0919, S3 1.0881

Comment: Current weaker U.S Dollar is giving room for EUR/USD to rally further more. EU Data will bring new inputs on how the EURO will perform for the next hours. Current weak U.S Dollar gives the chance for Building Permits today to have a higher impact as a spark. Expect setbacks from R1 level which in case penetrated, look for further bullish waves seeing R2 as a target. Dips should fight S2 and S3 levels. closing below S3 alerts for trend reversal.

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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.

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FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

Gold Initiated Daily Bullish Trend

As Gold penetrated 1239 100-EMA-D1, the yellow metal has officially launched the daily bullish momentum with expectations for additional gains in the coming hours and the coming days. Gold inaugurated Wednesday’s trading sessions with $8.53 profits and 1245 high, and as U.S Dollar extended the bearish momentum with severe losses at 97.78 low, Gold should find comfort as Trump continues tanking U.S Index.
Fundamentals:

With absence of U.S Data today, and current situation of pale U.S Dollar, gold should behave technically today, but U.S internal politic events should always be taken into consideration as a stand-by spot news that could affect gold.

Technical Overview:

Trend: Bullish

Resistance levels: R1 1245.15, R2 1247.81, R3 1251.13 (H1)

Support levels: S1 1237.72, S2 1233.40, S3 1230.75 (H1)

Comment: Gold over passed 100-EMA but only a close above it keeps and sustains the daily bullish trend. A penetration with long positions for R1 level stretches bullish flags with a high pace seeing R2&R3 levels as target. The less preferred scenario, in case gold closes below 1239, then we can see a repetition of yesterday’s trading scenario but dips seeing S2 as a destination, dips should fight fight S1 level. Gold is strong supported by a strong rising oblique trend line that prioritize bullish waves with higher highs.

MACD indicates a bullish trend.
RSI indicates a Bullish Trend.

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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.

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FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

USD/JPY Plunges As U.S Index Clocks 2017-Fresh-lows

USD/JPY inaugurated Asian Trading Sessions with 78-pips price action and plunged to 112.34 low. As U.S Dollar extends current bearish momentum with 2017 fresh low at 97.78 low over U.S negative politics, Japanese Yen took advantage of current pale greenback as pulled USD/JPY lower and if U.S issues continue on such pace, expectations that the pair will dip lower, first as a reaction to U.S Dollar losses, second as the Yen tends to be a haven substitute when bad politics surrounds the rival greenback. Currently USD/JPY is trading 112.30 below 100-EMA-D1 at 112.56.

Japanese Revised Industrial Production showed a minor recovery earlier with -1.9% compared to -2.1% on previous session which added some “positive” push for USD/JPY to pull lower.

Fundamentals:

There are no data to be released by Japanese and U.S today, only politics in the U.S will play the bigger role. But tomorrow U.S Unemployment Claims at 12:30 PM GMT will affect U.S Dollar performance.

Technical Overview:

Trend: Bearish / Sideways

Resistance levels: R1 112.47, R2 112.73, R3 113.06

Support levels: S1 112.17, S2 111.78, S3 111.41

Comment: USD/JPY dropped below 100-EMA daily which suggest that market has turned bearish. A penetration cor S1 level will increase further selloffs seeing S2 as target. Closing above R1 brings back retracements seeing R2&R3 as target. Keep an eye on U.S Index levels + U.S Politics + U.S Data tomorrow is vital.

MACD indicates bearish momentum.

RSI indicates bearish momentum.

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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.

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FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

Crude Oil Recoups Over OPEC’s Positive Signs, Awaiting U.S Inventories

Fundamentals:

Crude Oil managed to reimburse $4.12 since last Monday where crude plunged to $45.52 bp, and today, oil clocked $49 high bp with failure to close above 200-EMA (D1) for three consecutive daily sessions, leaving daily trend to sideways with more tendency to bullish taking into consideration that oil has a support by a rising (H4) trend line.

Oil prices were highly fluctuated during May 2017 between U.S and OPEC with apposed interests keeping lower price (U.S) and higher price (OPEC).

U.S managed to plunge oil price over several consecutive API reports indicating a significant increase in U.S crude inventories, and this week some positive and promising signs were signaled by OPEC and particularly by Non-OPEC counties, as sharp response to the U.S.

Iraqi Prime Minister Haider al-Abadi said in a news conference broadcast on state TV late-Tuesday, Iraq is committed to reducing oil production to decrease a glut in the global market, and will support extending oil output cuts in line with any OPEC decision, Reuters reports. Russian compliance rate was estimated by 77%. Meanwhile, the OPEC’s compliance rate is 96%.

Russia and Saudi Arabia agreed earlier this week to prolong the output cut deal till March 2018 and along with, A proposal to extend an OPEC and non-OPEC supply cut for nine months is a positive idea, sources familiar with Iranian thinking said, suggesting OPEC’s third-largest producer is likely to go along with such a plan if there is a consensus. Kuwait, a Gulf producer usually aligned with the Saudi OPEC view, said on Tuesday it supported the proposal. The Iranian position is less predictable, however, as it was the only OPEC member allowed to increase its output under the supply cut deal and holds presidential elections on Friday. (Reuters)

Today, U.S is due to release weekly crude inventories at 2:30 PM GMT which will settle oil levels technically, but fundamentally, OPEC efforts seems to be more fruitful with more bullish tendency as an impact. Currently U.S-Oil is trading 48.85 intraday.

Technical Overview:

Trend: Sideways

Resistance levels: R1 49.58, R2 50.43, R3 51.61

Support levels: S1 48.00, S2 47.00, S3 45.67

Comment: Closing above 49.00 confirms the bullish momentum. A penetration for R1 stretches additional bullish waves seeing R2&R3 destination. Closing above 49.00 is positive. Closing below S1 hold bearish setbacks and retracements as a reminder of 9th may lows. OPEC cut-deal should be a stand by motion as a spot news with major impact. Also, U.S Inventories will give a better perspective on how crude oil trend will behave.

MACD indicates bearish momentum but a penetration for R1 level will shift bullish.

RSI indicates Bullish momentum.

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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.

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FxGrow Daily Technical Analysis – 18th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Bullish Fever To Be Re-Tested Ahead of U.S Data

EUR/USD was on superb performance this week as the pair managed to rally +251-pips with new record for 2017 at 1.1172 high today. EU economic data was neutral bias yesterday as both CPI and Core CPI recorded zero change with both at 1.2% and 1.9% which leaves markets intrigued by the sudden intensive rising for pair. Currently EUR/USD trading 1.1135 as U.S Index shows some recovering symptoms but still remains week.

As U.S political tension continues to re-surface and tightening pace pulling greenback lower as U.S Index plunged today at 97.26 low, the pair found comfort with continuous depressing U.S Dollar levels. EUR/USD bullish momentum has to submit for final two …

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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.

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FxGrow Daily Technical Analysis – 18th May, 2017
By FxGrow Research & Analysis Team

Gold Bullish Trend Has One Final Test, US Data

Gold retreated to 1253.80 today as a lowest record, but managed to recoup losses with high pace at 1265 high, currently trading 1261.92 intraday. Gold is rising a strong bullish since yesterday with +342-pips as price action supported by weaker U.S Dollar performance as the Index bottomed at 97.26 2017-fresh-low.

Gold bullish momentum will be re-tested today as U.S releases unemployment claims, and in case gold closes below 1246, alerts will be signaled as XAUUSD failed to hold the rising trend, and …

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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.

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FxGrow Daily Technical Analysis – 19th May, 2017
By FxGrow Research & Analysis Team

Gold Remains Bullish Despite Yesterday’s Losses

Gold was nursed yesterday with a dropping pressure at 1246 low, but still remains above 200-EMA (D1) by 80-pips, which sends a message that XAU/USD remains bullish despite severe losses yesterday -$19 after positive unemployment claims beating expectations.

U.S Dollar performance remained weak yesterday but managed to peek at 97.96 with +$0.6, but expectation were build for more point basis considering that U.S Index anchored yesterday at 79.26 2017-low which indicates U.S current political drama still tackling greenback rallies.

Technically, gold is currently trading 1245 after clocking 1252 high showing recovery symptoms. Still above 200-EMA and and …

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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.

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FxGrow Daily Technical Analysis – 19th May, 2017
By FxGrow Research & Analysis Team

USD/CAD Shows Stingy Price Action Over Crisp U.S Dollar

Unlike major currencies seen taking advantage of weak greenback, the loonie traded with shy 45-pips price action today, currently at 1.3570 after retreating from 1.3610 high today. Although Crude Oil is currently bullish, but remaining below $50 bp slowed USD/CAD bearish forces as Canada as major oil producers.

In addition to that, the Trump administration on Thursday set the clock ticking toward a mid-August start of renegotiation’s of the North American Free Trade Agreement with Canada and Mexico to try to win better terms for U.S. workers and manufacturers which gave some solid ground for greenback as uncertainties …

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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.

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FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

EURO Toughens On Weak U.S Dollar Ahead of Local Data

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EUR/USD sustained the bullish momentum for 30 consecutive days, trading with +100-pips above its daily 7-EMA, and clocked a 1.1263 high yesterday, a peek the pair has not witnessed since Oct-2016. On the other hand, weakness in U.S Dollar as the Index plunged today to 96.68 low indicates the sharp tone of EURO facing its west rival greenback and EUR/USD still has potential to revenge with higher gains ahead of EU local data today.

Previous EU Data including PMI, CPI, and Retails sales were increasing session over session, but the main focus today will be on German Data, along with the increasing inflation, and …

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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.

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FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

Sterling Dips Slightly Over UK’s Attack Ahead of Inflation Report

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Yesterday. GBP/USD bullish momentum with a high 1.3034 supported by soft U.S Dollar tone was tanked by terrorist attack on the UK, tripping and erasing the daily +78-pips market action. The pair failed to withhold the 1300 level and anchored at 1.2965 low. Currently the pair is trading 1.2977, only +12-pips above yesterday’s lows which indicates that yesterday’s ugly events still has negative tails to Sterling current bearish pattern. On the other hand, U.S Dollar is showing some vital signs as the Index traders 96.90 after dipping to 96.74 low, but unless the Index penetrates 97.35 (Yesterday’s high), greenback remains under pressure, giving room for Sterling take a breath and slow the bearish trend.

Away from politics, BOE Governor and several MPC members will testify testify today regarding inflation and the …

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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.

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FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

Gold: Closing Above 1263 will Fuel Additional Bullish Waves

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The hardest obstacle facing gold bullish with extension is today’s high resistance located at 1263.80 and 1265. A resistance door which gold has knocked several times in the past two months with failure to penetrate and technically retreating, but fundamentals were always there for the help including safe haven and negative U.S Data interventions. But technical intakes with gold closing above daily 100 and 200 SMA at 1238 indicates that gold current trend is bullish supported by strong rising trend line, the yellow metal should overcome the 1265 with no hard time. Closing Above 1265, traders should prepare for themselves seeing gold on a jet ride with further inclines seeing 1280+ as a destination.

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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.

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FxGrow Daily Technical Analysis – 24th May, 2017
By FxGrow Research & Analysis Team

Crude Oil: Potential For 2017’s Highs As Eyes Are Set On the Bigger Prize

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Crude oil surged +1.44 bp since Monday and clocked 51.86 high today boosted by potential positive outcomes as OPEC and Non-OPEC nations meet tomorrow yet again in Vienna on 25th of May.

OPEC has promised to cut supplies by 1.8 million barrels per day (bpd) until the end of June and is expected on Thursday to decide to prolong that cut to March 2018.

The meeting tomorrow could hold additional outcomes, other than extending the original deal, such as more compliance between OPEC and Non-OPEC counties and increasing cut-outputs with efforts to curb global supply demand and glut. If OPEC managed to nail such attributes, this could be added as additional …

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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.

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FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

Fx Majors Technical Levels Ahead of FOMC Meeting Results

U.S Fed will meet this after noon 6:00 PM GMT and market should pay close attention to words and details. Based on that, you can know how market will head and trade. The easiest way if to see how U.S Dollar will perform and Index levels.

If U.S Index is declining, it’s a signal that rival currencies are taking advantage and surging facing weaker U.S Dollar. June hike will be center stage. Any suggestion or adding odds to already 78% chances will fuel U.S Index. A stress by FOMC that they still see three possible hikes will also peek the greenback. In March 2017, U.S Fed increased 0.25% to initial 0.75%, resulted in 1% as U.S Central Banks Interest. So market …

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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.

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FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

GBP/USD to Re-Test 1.300 level Ahead of Local GDP

GBP/USD has entered the fourth consolidative trading session and been confined within 116-pips price action. The pair dipped yesterday to 1.2927 low as U.S Index showed some strength with 97.36 high, but then faded away as FOMC meeting maintained a neutral stance, not giving clear messages on how things are heading despite the highly odds for June hike which was already expired as a fact, hence the pair managed to shift bearish candles top bullish and clocked a 1.2999.

Today will the second chapter for the pair as UK releases Second Estimate GDP, shortly followed by U.S data Sterling hanging above 1.2900 will tested. Options are opened with 1.300+ or 1.2900- are on …

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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.

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FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

Gold Still Fears The 1260+ level With Retreats, Eyes On U.S Data

Gold still shows weakness to withhold the 1260 level with consistent failure as market and traders are psychologically programmed to abandon the 1260+ position. Technically, through out 2017, gold retreated more than 10 times every time the yellow metal reaches 1265. Previous sessions where gold surpassed 1265 was due to fundamental factors such as negative U.S data or safe haven buying.

Today, gold clocked 1259.68 then retreated to to 1255.68 low as reminder of recent behavior, still above 50-EMA (D1) at 1245 which still supports the bullish momentum. There is a chance today that gold can overcome the 1265 phobia fundamentally as …

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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.

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FxGrow Daily Technical Analysis – 26th May, 2017
By FxGrow Research & Analysis Team

U.S Index Makes A reverse Turn Giving Rivals to Surge

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After peeking to 97.31 today, the greenback went back to comatose mood as the Index plunged 96.94 low, and hourly chart behavior suggests further dips. Yesterday U.S Data recorded a neutral stance, not convincing market expectations which left the Index within weekly range, down below 97 level. FOMC member Williams crossed wires today stressing that increasing rate is a must to coop with the market running hot which should have pushed the Index higher, but Trump still succeed to tank U.S Dollar with recent and yesterday’s attack on NATO and candidate Lieberman withdraw-ed his name being FBI deputy yesterday.

As a result, rivals currencies and gold taking advantage of weaker U.S Dollar. Greenback has one last chance this week to redeem itself as U.S

Releases major data below:

1- USD- Core Durable Goods Orders m/m + Prelim GDP q/q + Durable Goods Orders m/m.

Technical Overview for GBP/USD , EUR/USD , USD/JPY , Gold

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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.

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FxGrow Daily Technical Analysis – 29th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Inches Higher Ahead of Draghi’s Speech

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EUR/USD extended the bullish momentum for the second week, but the pair is showing shy price action with 28-pips for today’s session. The pair guarded the 1.1100 level successfully clocking 1.1189 high, still above its 10-EMA D1 at 1.1150 which keep bullish forces intact and on a stand-by motion. Economic calendar is light today except for Draghi appearance shortly. As for U.S Dollar, the Index remains in trouble due to U.S politics negative media especially Trump’s overseas meeting with G7, and his refusal to …

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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.

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FxGrow Daily Technical Analysis – 29th May, 2017
By FxGrow Research & Analysis Team

Yen: Chances for Further Gains Ahead of Local Data

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USD/JPY is currently trading near its 200-EMA (D1) at 1.1133 intraday after plunging earlier to 1.1115 low. Overall, bank holidays are overwhelming worldwide which justifies the low volatility for market today, but action should re-kick with higher volatility as economic news inaugurate Tuesday’s Asian sessions with Japanese multi inflation figures and Japanese Yen has the chance to extend further gains facing pale U.S Index (97.23 low) as negative media still revolves around the greenback. Shortly after that, BOJ …

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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.