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    1. #941
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 27th Nov, 2017
      By FxGrow Research & Analysis Team

      GBP/USD Intraday: continuation of the rebound.


      Pivot: 1.3305

      Our preference: long positions above 1.3305 with targets at 1.3360 & 1.3375 in extension.

      Alternative scenario: below 1.3305 look for further downside with 1.3280 & 1.3255 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      1.3390
      1.3375
      1.3360
      1.3330 Last
      1.3305
      1.3280
      1.3255

      USD/JPY Intraday: consolidation.


      Pivot: 111.70

      Our preference: short positions below 111.70 with targets at 111.05 & 110.80 in extension.

      Alternative scenario: above 111.70 look for further upside with 111.95 & 112.15 as targets.

      Comment: the RSI shows downside momentum.

      Supports and resistances:
      112.15
      111.95
      111.70
      111.40 Last
      111.05
      110.80
      110.65

      EUR/USD Intraday: the bias remains bullish.


      Pivot: 1.1895

      Our preference: long positions above 1.1895 with targets at 1.1960 & 1.1990 in extension.

      Alternative scenario: below 1.1895 look for further downside with 1.1855 & 1.1825 as targets.

      Comment: the RSI is mixed to bullish.

      Supports and resistances:
      1.2020
      1.1990
      1.1960
      1.1931 Last
      1.1895
      1.1855
      1.1825

      AUD/USD Intraday: continuation of the rebound.


      Pivot: 0.7605

      Our preference: long positions above 0.7605 with targets at 0.7640 & 0.7660 in extension.

      Alternative scenario: below 0.7605 look for further downside with 0.7590 & 0.7575 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      0.7675 **
      0.7660 **
      0.7640 ***
      0.7630 Last
      0.7605 ***
      0.7590 ***
      0.7575 **

      Gold spot Intraday: rebound.


      Pivot: 1289.00

      Our preference: long positions above 1289.00 with targets at 1297.00 & 1300.00 in extension.

      Alternative scenario: below 1289.00 look for further downside with 1286.00 & 1283.00 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      1304.00
      1300.00
      1297.00
      1292.00 Last
      1289.00
      1286.00
      1283.00

      Crude Oil‏ (WTI)‏ (F8) Intraday: the upside prevails.


      Pivot: 58.15

      Our preference: long positions above 58.15 with targets at 59.40 & 60.00 in extension.

      Alternative scenario: below 58.15 look for further downside with 57.80 & 57.30 as targets.

      Comment: the RSI calls for a new upleg. The prices remain supported by a rising trend line, which should call for a new rise. A strong support at 58.15 should also limit any downward attempts.

      Supports and resistances:
      60.45
      60.00
      59.40
      58.71 Last
      58.15
      57.80
      57.30

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    3. #942
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 06th Dec, 2017
      By FxGrow Research & Analysis Team

      Gold Breaks The Pennant After Long Consolidation Sessions


      After sixty consolidation session where gold was fluctuating between 70s and 90s levels, gold has finally broke the pennant that has been confined inside with sideways range and congestion. The precious metal gaped downward on Monday, then peeked to 1277 yesterday, but failed to press forward and dipped to 1261 low.

      Fundamentally, the U.S tax plan approval during the weekend boosted the U.S Dollar and last week's upbeat U.S economic data has increased the odds of U.S Fed hike pushing the DXY to 93.45 high today. On the other hand, failure between UK and Eurozone is still weakening the British pound and EURO, giving more strength to the greenback against XAUUSD.

      Gold Technical Overview

      Closing price: 1265.85

      Target price: 1251

      Trend: Sideways / Down

      Trend reversal price: 1286

      Resistance levels: 1271, 1276

      Support levels: 1258, 1251

      Comment The market extended the short term flagging downturn and suggests further selling to 1251. Minor corrections should stay in the 1270's to maintain bear trend forces. A push over 128050 stops pressing bear forces, but only a close over 1286.00* highlights a lasting turn to higher prices.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    4. #943
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 08th Dec, 2017
      By FxGrow Research & Analysis Team

      Britain and EU Strike Brexit Deal, EUR and GBP Up?


      The EU and UK managed finally to reach a deal and move forward with Brexit as major news sources has just headlined as a breaking news. As a result, expectations for more upward action for British pound and some upward corrections as a retracement for the EURO. On the other hand, U.S will release major data today with NFP taking center stage.

      GBP/USD technical overview:

      Closing price: 1.3473

      Trend: Sideways / Up

      Target price: 1.3590?

      Resistance levels: 1.3505, 1.3590-1.3667

      Support levels: 1.3418, 1.3353*-, 1.3290

      Trend reversal price: 1.3353

      Comment Overall the market is short term bullish. A close over 13505 will rekindle bull trending to reach previous peaking levels at 1.3612+. A close over 1.3667 is bullish for moves to 1.3860. Be prepared for a near term slip and congestion inside the upper half of yesterday's range. Stable action over 1.3400+ suggests a build up for rallies. A close under 1.3353* highlights a topping turnover and chance for declines along 1.3200.

      EUR/USD Technical overview:


      Closing price: 1.1772

      Target price: 1.1760 ( Achieved)

      Resistance levels: 1.1836, 1.1876-1.1897*

      Support levels: 11760-50, 11700-

      Trend: Sideways / Down

      Trend reversal price: 1.1897

      Comment: The choppy slide this week is shifting the short term trend bias down and warns for a larger unfolding selling wave to 1.1760-/1.1700. Trade is poised for selling pressures today. Trade may recover for near term congestion just over 1.1800+. However, a close over 1.1897* is needed to highlight a reversing upturn form corrections to launch a fresh bull wave near 1.2000+.

      U.S Dollar Index Technical Overview:

      DEC US DOLLAR

      Closing price(9378)

      Target price: 94.05

      Resistance levels: 93.89, 94.055*

      Support levels: 9343, 9318, 9294*

      Trend: Sideways / Up

      Trend reversal price: 92.94

      Comment The market has worked into a short term bottoming / bullish pattern and targets rallies to 94.055* resistance to challenge for a larger upturn. A close over 94.055* is bullish. Any minor dips should level off into sideways basing action off the low 93.00 area. A close under 92.94* is needed to reverse back to lower prices.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    5. #944
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 11th Dec, 2017
      By FxGrow Research & Analysis Team

      GBP/USD Inching Higher Ahead of UK's Inflation Report


      GBP/USD inaugurated Monday's trading session with bulls in action clocking 1.3427 high and 1.3366 low. The cable took a massive punch on Friday after releasing positive U.S Data, retreating from 1.3520 high and plunging to 1.3355 low. Technically, expectations for further upside action for the cable seems limited especially Friday's daily candle engulfing Thursday's strong bullish candle.

      Fundamentally, a busy week for the market, first with today's CPI data coming from the UK with expectations placed at 3%, as as previous outcome. We are looking for a deviation in the inflation today which could set a more dovish tone for BOE's economic statement on Thursday taking into consideration that rates will stay put. On the other hand, FOMC meeting on Wednesday is taking all the attention with high expectations for hike.

      Last but not least, market is looking forward to the UK PM Theresa May’s cabinet meeting scheduled later today, with the key agenda on the Brexit negotiations ahead of this week’s EU Summit.

      GBP/USD Technical overview:

      Closing price: 1.3395

      Target price: None

      Resistance levels: 1.3463, 1.3505+, 1.3610-67

      Support levels: 1.3353*-, 1.3290

      Trend: Sdwys/Up

      Trend reversal price: 1.3353

      Comment Overall the market is still short term bullish. A close over 1.3505 will rekindle bull trending to reach previous peaking levels at 1.3612+. A close over 1.3667 is bullish for moves to 1.3860. Friday's back off alerts for near term corrections. A close under 1.3353* highlights a topping turnover and chance for declines along 1.3240-00.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    6. #945
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 14th Dec, 2017
      By FxGrow Research & Analysis Team

      GBP/USD Rallies As Market Undigested FOMC Statement, Eyes on MPC Vote


      GBP/USD made a reverse turn yesterday and rallied 118-pips after clocking 1.3428 high as market was anticipating a hike by the Feds as a priced in news. On the other hand, FOMC statement by Yellen was seen neutral to dovish which gave the cable extra push. Today, the pair plunged to 1.3380 low as a correction and preparation for more upward action supported by upbeat retail sales by the UK at 1.1% while expectations were placed at 0.4%. As a result, GBP/USD extended the bulls and clocked 1.3466 high, currently trading 1.3442 intraday.

      Fundamentally, UK inflation recorded a rise by 0.1% during November compared to October but the core CPI remained at 2.7% as expected. With inflation above the target, logically the BOE should take action by hiking rates or at least drop a hawkish tone in the statement signaling future monetary tightening. On the other hand, the dilemma lies in the domestic growth which is below potential which could be counterproductive as growth continues to show deceleration. Just a moment ago, UK retail sales result at 1.1% was seen unexpected which could turn MPC voting today to more hawkish.

      GBP/USD bulls and bears stand on three major elements that needs to be considered to speculate how the cable should and will perform in the coming hours.

      1-BOE's Current rates stands at 0.50%, and it is widely expected to stay put with no game changer especially that last the last hike was during November, but still, BOE could take market off guard and increase current rates by 25 point basis, in this case, we could see the pound breaking previous tops and extending action beyond 1.35 level at to 1.3800. Although this scenario is not in discussion, but market should be opened to all scenarios taking into consideration this and last week strong UK data.

      2- Now comes BOE's statement or summary where we should focus on the following. The statement could drop a hawkish tone by mentioning that inflation is intolerant and growth is growing at high pace which forces BOE to take action in the near future, this is considered positive for the pound. A dovish scenario would include that recent data is strong and it was mentioned before by the BOE, still the central bank needs to look for additional inputs without seeing any reason for near-term action or the BOE pushes rates till end of 2018, this is dovish for the pound and in previous comments by Carney, the Gov. did postponed rate hikes till end of 2018 which caused GBP to collapse.

      3- Third, and most important, the MPC voting. There are two possible outcomes. First, in case voting was 0-0-9, this is considered negative for the pound as the members are not considering an near term action by the BOE. Second, in case we see a conflict between members where voting is 2-0-7 or 3-0-6, this is an indication that the members are turning more hawkish since expectations are at 0-0-9 and this will be reflected in the policy summary.

      GBP/USD technical Overview:

      Closing price: 1.3416

      Target price: 1.3240?

      Resistance levels: 1.3450*, 1.3550+/-

      Support levels: 1.3370, 1.3320-10, 1.3240*

      Trend: Sdwys/Down

      Trend reversal price: 1.3450*

      Comment: The market remains in the short term back off of the past week and half. A complete retracement of yesterday's range with a drop under 1.3310 will release a selling wave to 13240*. A close over 1.3450* will highlight a reversing turn back to higher prices targeting a run to reach past the 1.3550 swing high.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    7. #946
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 14th Dec, 2017
      By FxGrow Research & Analysis Team

      Gold Initiated Upward Correction With Potential of a Trend Reversal, Eyes on U.S Data

      After Last week's major break for the sideways congestion, gold plunged to five months fresh-lows at 1236.55 on Tuesday, then started upward correction first as a result of the deep down dips, second as a response to yesterday's FOMC's priced in news and a neutral statement without giving any new perspectives for 2018 outlook. The precious metal rallied yesterday from 1240.35, and recorded 1257.15 high. Today, gold extended the bulls action with only +$3 after clocking 1259.15 high, currently trading 1258 intraday.

      On technical level, gold is currently test 10-EMA level at 1259 with expectations for 20-EMA testing at 1263-5 and in case gold closed above 10-EMA, this should be considered as first warning for trend reversal. Add to that, Tuesday's and yesterday's daily bullish grabbers support further upside action but it still early to determine if the upward correction is an introduction for trend reversal or the precious metal could drop beyond 1236 level, aimed at 1228 first, 1210+ area. Daily RSI was at 31 level on Tuesday, at that level, gold often started a bullish trend as market is oversold.

      As for U.S dollar index, we can see that DXY bulls were contained by downtrend resistance line which was tested successfully and has formed a perfect head and shoulders pattern both on Daily and H4 time frame with AB leg = CD leg, and next target for the Dollar Index will be around 91.00 unless DXY rallied beyond 94.00 erasing the head and shoulders pattern, then we should expect more pressure on the gold.

      Fundamentally, if we go back in memory, i late 2016 when the Feds hiked, gold showed an opposite reaction with a rally started from 1195 as market was already trading the fact that rates are done deal. Today U.S will release major data with Retail Sales in focus and depending on gold hourly behavior and daily closing price, we can draw a better technical image for XAUUSD next move.


      XAUUSD and U.S Dollar Technical Overview:


      MAR US DOLLAR Technical Overview

      Closing price: 93.024

      Target price: None

      Resistance levels: 93.75, 94.05, 94.35

      Support levels: 93.31, 93.16, 92.77

      Trend: Sideways / Up

      Trend reversal price: 92.77

      Comment: The market shows a short term bottoming / bullish pattern, but rallies were capped by 93.755* resistance, prompting yesterday's drop off. Be prepared for near term negative / corrective action and chance to test 92.77* support. A close under 9277* signals a short term negative turnover, but initially suspect a bounce off 9277*. A close over 93755* is short term bullish and will spark further upside action at 94.05, next 94.35

      XAUUSD Technical overview


      Closing price: 1255.60

      Target price: 1231

      Resistance levels: 1257+/-, 1263.10*

      Support levels: 1250.30-00, 1244.50*, 1231-

      Trend: Down

      Trend reversal price: 1263.10

      Comment: Overall the market is bearish, still showing potential for a drop to 1231. Yesterday's spike higher starts near term corrections and we could see trade again try to rally. Corrections will likely find downside forces keeping trade in sideways congestion, stopped in the upper 1250's. A close over 1263.10* is needed to secure a reversing turnaround. A close under 1244.50* should renew selloffs/bear trending.

      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
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    8. #947
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      Re: Daily Technical Analysis by FxGrow

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

      GBP/USD Intraday: continuation of the rebound.


      Pivot: 1.3360

      Our preference: long positions above 1.3360 with targets at 1.3420 & 1.3445 in extension.

      Alternative scenario: below 1.3360 look for further downside with 1.3330 & 1.3300 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      1.3470
      1.3445
      1.3420
      1.3391 Last
      1.3360
      1.3330
      1.3300

      USD/JPY Intraday: consolidation.


      Pivot: 112.75

      Our preference: short positions below 112.75 with targets at 112.30 & 112.05 in extension.

      Alternative scenario: above 112.75 look for further upside with 113.00 & 113.25 as targets.

      Comment: the upward potential is likely to be limited by the resistance at 112.75.

      Supports and resistances:
      113.25
      113.00
      112.75
      112.50 Last
      112.30
      112.05
      111.85

      EUR/USD Intraday: further advance.


      Pivot: 1.1775

      Our preference: long positions above 1.1775 with targets at 1.1835 & 1.1865 in extension.

      Alternative scenario: below 1.1775 look for further downside with 1.1760 & 1.1740 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      1.1885
      1.1865
      1.1835
      1.1810 Last
      1.1775
      1.1760
      1.1740

      AUD/USD Intraday: the bias remains bullish.


      Pivot: 0.7650

      Our preference: long positions above 0.7650 with targets at 0.7680 & 0.7695 in extension.

      Alternative scenario: below 0.7650 look for further downside with 0.7635 & 0.7615 as targets.

      Comment: the RSI shows upside momentum.

      Supports and resistances:
      0.7720 **
      0.7695 ***
      0.7680 ***
      0.7670 Last
      0.7650 ***
      0.7635 ***
      0.7615 ***

      Crude Oil‏ (WTI)‏ (F18) Intraday: turning up.


      Pivot: 56.80

      Our preference: long positions above 56.80 with targets at 57.85 & 58.15 in extension.

      Alternative scenario: below 56.80 look for further downside with 56.45 & 56.10 as targets.

      Comment: the RSI calls for a rebound.

      Supports and resistances:
      58.55
      58.15
      57.85
      57.40 Last
      56.80
      56.45
      56.10

      Gold spot Intraday: further upside.


      Pivot: 1256.50

      Our preference: long positions above 1256.50 with targets at 1267.00 & 1272.00 in extension.

      Alternative scenario: below 1256.50 look for further downside with 1250.50 & 1245.00 as targets.

      Comment: the RSI is bullish and calls for further advance.

      Supports and resistances:
      1276.50
      1272.00
      1267.00
      1263.61 Last
      1256.50
      1250.50
      1245.00


      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
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    9. #948
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 20th Dec, 2017
      By FxGrow Research & Analysis Team

      GBP/USD Extends Consolidation Sessions, Looking for Cues By Carney


      GBP/USD edged up on Asian trading session with 1.3400 high but failed to press forward and dipped to 1.3374 low, currently trading 1.3388 intraday. On technical level, the pair managed to close above 10-EMA yesterday and currently flirting at it at 1.3380. Any upward action for the cable today should be contaminated at 1.3450 strong resistance area as the pair still failed to break it since last week.

      Fundamentally, BOE's Gov. Carney will cross wires today on NY opening sessions where he will testify on the November Financial Stability Report before the Treasury Select Committee, which should offer fresh impetus to the GBP. On the other hand, Brexit negotiations with absence of clear terms still weights negatively on the pound and market is awaiting for fresh details as a BBC report mentioned that the Bank of England (BOE) is set to unveil plans allowing European banks to operate in the UK as normal post-Brexit. As for the greenback, tax bill vote should see the light either today and tomorrow followed by a press conference by president Trump which will set the tone for the U.S Dollar facing GBP.

      GBP/USD Technical overview:

      Closing price: 1.3384

      Target price: None

      Resistance levels: 1.3450-60, 1.3500

      Support levels: 1.3310, 1.3235+/-

      Trend: Sideways / Down

      Trend reversal price: 1.3454

      Comment: The market is still biased down, contained under 1.3450* resistance. A roll off from Mon-Tuesday's sideways days open up potential for selloffs to 1.3235 and chance to stretch for the low 13200's. Trade may again congest in Mon-Friday's range, but tight congestion will bear flag. A close over 1.3454* is needed for a short term reversing upturn.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    10. #949
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 20th Dec, 2017
      By FxGrow Research & Analysis Team

      Crude Oil Inches Higher As API Report Shows A Drop in U.S Inventories


      Crude oil inaugurated Monday's trading session with clocking 57.86 high and has been trading cautious-flat since Monday. Yesterday, API report mentioned that U.S. crude inventories fell by 5.2 million barrels in the week to Dec. 15 to 438.7 million and the ongoing outage of the North Sea Forties pipeline system (Reuters), which gave oil some solid ground hanging above 57 level.

      Market is awaiting U.S Inventories release today in the afternoon which should bring fresh impetus for oil levels. On the other hand, Reuters has mentioned that most analysts expect U.S. output to break through 10 million bpd soon, which would be a new record and take it to levels on par with top exporter Saudi Arabia and close to top producer Russia, which pumps around 11 million bpd.

      Crude Oil Technical Overview:

      Closing price: (57.66)

      Target price: None

      Resistance levels: 57.65*, 58.01, 58.60

      Support levels: 56.77, 56.18, 55.88

      Trend: Sideways

      Trend reversal price: 57.65

      Comment: The market closed up around the 57.65* resistance and balance level between short term bull / bear trend forces. Another close over 57.65* signals for climbing moves to challenge recent highs. A rejection from 5765* today and close under 55.88 rekindles bear forces for a selling wave to 54.50-00.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    11. #950
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 21st Dec, 2017
      By FxGrow Research & Analysis Team

      Gold Shows Bearish Pattern Ahead of U.S GDP Data


      Gold extended recovery through the week, rallying from 1252.85 low on Monday and clocking 1268.35 high on Thursday, overall $15.50 as an upward correction after dipping to 1236 on 12 Dec.

      Technically, gold closed above 10-EMA and 20-EMA successfully on daily level, which indicates a bullish trend, but the upward action is seen limited and weak. Also we can notice that since gold started the recovery, it's still inside 6th and 7th daily candles borders. On H4 time frame, we can notice that gold is stuck inside a rising wedge which is almost coming to an end, should not break above 1270, and afterwards, technically gold should break downward heavily.

      Fundamentally, the U.S is due to release final GDP for 2017 last quarter which should shake the market in current seasonal holidays where price action all over is dull and slow.

      Spot Gold Technical Overview:


      Closing price: 1265.40

      Target price: 1277

      Resistance levels: 1267, 1269, 1276

      Support levels: 1258, 1254, 1248*

      Trend: Sideways / Up

      Comment: The market has muscled a short term upturn and suggests climbing moves to 1278-1281. Trade is positioned to extend rallies. A push over 1269.80+ will fuel rallies. Any corrective dips that hold the upper-mid 1250's should maintain the positive upturn. A close under 1248* is needed for a bear turnover into a secondary selling wave aimed at 1230 area.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    12. #951
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 22nd Dec, 2017
      By FxGrow Research & Analysis Team

      GBP/USD: Still Struggling To Break The 1.3400 Handle Ahead of UK Data


      GBP/USD still trading dull through the week with failure to close above 1.3400 level, trading flat with consolidation congestion. The pair dipped today to 1.3364 at 20-EMA and tested successfully with a rebounce. Yesterday, the cable found some support and managed to overcome losses after plunging to 1.3331, and closed at 1.3385 after disappointing U.S GDP outcome 3.2% while expectations were at 3.3% and above.

      Today, the pound awaits Current Account and Final GDP for last quarter of 2017 which should give push GBP/USD into newer levels and break out of the triangle that is seen stuck inside. As for the U.S Dollar, Core Durable Goods data + Core PCE Index ( Feds favorite indicator ), both are due as NY session opens.

      GBP/USD technical overview:

      Closing price: 1.3385

      Target price: None

      Resistance levels: 1.3400 1.3454*

      Support levels: 1.3314, 1.3235+/-

      Trend: Sdwys/Down

      Trend reversal price: 1.3454*

      Comment: The market is still biased down, contained under 1.3454* resistance. A roll off from this week's sideways days open up potential for selloffs to 13285 and chance to stretch for the low 13200's. Trade may again congest in Mon-last Friday's ranges, but tight congestion will bear flag. A close over 1.3454* is needed for a short term reversing upturn.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    13. #952
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 22nd Dec, 2017
      By FxGrow Research & Analysis Team

      EUR/USD Dips Over Spain's Political Uncertainty, Eyes On U.S Data


      EUR/USD received a punch on Friday's trading sessions as Catalan's referendum taking major headlines news with increasing pace through media. As a result the pair dipped at 1.1816 low this morning but strongly succeeded in climb back at 1.1850 at this moment.

      Senior currency strategist at Daiwa Securities in Tokyo crossed wires earlier quoting: “The overall impact of the Catalan vote on the euro and the wider global markets is likely to be limited, however. Catalonia cannot become a sovereign state if no other country recognizes its independence. It won’t even be able to have its own currency under such conditions.”

      However, it could take more time to know for sure how market will react as events accelerate especially that at the moment it's holidays season. The real impact will start to shape up in the coming days after Tuesday.

      Technically, the pair was testing 5-EMA level the past three trading sessions and successfully bouncing off, and with 10-EMA below, currently EUR/USD is still considered in an uptrend motion especially that the dip this morning was targeting 20-EMA with a rebounce.

      Fundamentally, U.S is set to release Core Durable Goods Order data along with Personal Spending and Personal Income, and PCE Index Feds favorite intake which should give some heads up on how the pair will trade before this week trading session comes to and end.

      EUR/USD technical overview:

      Closing price: 1.1873

      Target price: None

      Resistance levels: 1.1950-70, 1.2010

      Support levels: 1.1850+/-, 1.1815*

      Trend: Sdwys/Up

      Trend reversal price: 1.1815*

      Comment The short term trend is shifting up and calls for rallies to push for a breakout over the previous swing highs and could stretch out to 1.1950 as well as 1.2050+. Any corrective dips must hold over 1.1815* + to continue the shifting turn to higher levels. A close under 1.1815* flips the short term trend forces down for a drop under 1.1757-.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    14. #953
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 28th Dec, 2017
      By FxGrow Research & Analysis Team

      Gold Bulls Overtake DXY Bears, 1300+?

      An impressive rally for gold with 568 pips, $56.80, since 12 of Dec after plunging to 1236.55 low. On the other hand, the U.S dollar bears are still in action clocking 92.33, lowest since four weeks, still pushing gold higher today with 1293.35 high for today.

      Technically, with 5-EMA crossing above 10-EMA and 20-EMA indicates that gold is expected to expand the upside ride if the precious metal managed to close 2017 session above 1290 which will indicate a weekly bullish engulfing candle for previous bear candles, and more important is Dec 2017 monthly candle which is shaping a bullish grabber that signals for a retesting of 2017's highs.

      U.S Dollar and XAUUSD Technical Overview:


      MAR US DOLLAR

      Closing price: (92.80)

      Target price: 92.73 (Achieved

      Resistance levels: 92.99-93.03

      Support levels: 92.58-92.54

      Trend: Down

      Swing Target: 92.54

      Range Reversal: 0.44

      Comment 1* Market showing a breakout under a previous daily swing low and should quickly extend selloffs. Failure to extend the breakout now alerts for a bear failure. A close back over 93.06 signals a breakout failure and turnaround. 2* Yesterday's close signals breakout under a previous daily swing low and should prompt continuation selloffs the next 1-3 days. Sustained trade under the previous low will help motivate selloffs. Corrections should not close above 93.06 to maintain the breakout. 3* The downside objectives for this formation range from 92.54 to 92.41 with a close over 93.10 needed to negate a bear trading stance.

      Gold Technical Overview:


      Closing price: 1287.05

      Target price: 1289.74 ( Achieved )

      Resistance levels: 1291.82-1295.50

      Support levels: 1287 1281.41-1279.11

      Trend: Up

      Swing Target: 1303.30

      Range Reversal: 12.21

      Comment 1* Historical analysis of this minor swing pattern shows a definite bullish bias for today's action, with the odds of this market taking out yesterday's high in the next two trading sessions around 71 percent. 2* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 1292.50 calls for continuation rallies. A failure around 1292.50 cautions for a reactionary setback. 3* The upside target zone for this pattern is from 1303.30 to 1345.70 with a close under 1255.44 needed to negate a bull trading stance. 4* Market is within proximity of this week's projected resistance range of 1307.90-1295.18, which may provide a likely zone for topping action or setbacks.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    15. #954
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 08th Jan, 2018
      By FxGrow Research & Analysis Team

      Gold And EUR/USD technical Overview Ahead of NFP


      Gold inaugurated Friday trading session with almost $7 losses after peeking to 1323.43 high as a correction with expectations for more upward action in the coming trading sessions. With daily RSI above 70 indicating an overbought market, it is expected that the precious metal could test 5-EMA at 1312 and 10-EMA at 1302 which could recoup gold bulls before extending further upside action.

      As for EUR/USD, the pair clocked 4-months fresh highs yesterday at 1.2088 with expectations to take 2017's highs and extend gains at 1.2230.

      Gold Technical Overview:

      Closing price: 1321.94

      Target price: None

      Resistance levels: 1318 - 1328 - 1334

      Support levels: 1314/12 - 1305

      Trend reversal price: 1293

      Comment: The market is bullish and it shows potential at 1328+/- and 1350. Trade is positioned to extend rallies today, but be in guard for stall and setback around 1328+/-. Any corrections that last two days and stays over yesterday's lows will maintain bull forces. A drop under 1305 alerts for a near term reversal info corrections back under 1300-. cautioning for back tracking 1293* and in case gold closed below it, the trend will shift downward.

      EUR/USD Technical overview:


      closing price: 1.2068

      target price: 1.2100

      Resistance levels: 1.2100 - 1.2150

      support levels: 1.2020 - 1.1990 - 1.1950*

      Trend reversal price: 1.1950*

      Comment: The short term trend is up and pressing rallies give bull signals for a run at 1.2100+. A close over 1.2100 is bullish. A back off from 1.2100 cautions for 1-2 corrective - flagging setback days. Corrective dips should now should now fight to hold over 1.1990 to maintain upside momentum forces. Although, only a close below 1.1950* flips the short term trend forces down.

      For more in depth Research & Analysis please visit FxGrow.

      Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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    16. #955
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      Re: Daily Technical Analysis by FxGrow

      FxGrow Daily Technical Analysis – 08th Jan, 2018
      By FxGrow Research & Analysis Team

      EUR/USD Plunges at 10-EMA Over Recovering U.S Dollar


      EUR/USD dipped on Morning trading session to 1.1976 flirting with 10-EMA (1.1980) successfully with a re-bounce after four consolidation sessions last week. The pair received a positive Retail Sales in Eurozone at 1.5% while expectations were at 1.4% which should keep EUR bulls in action. On the other hand, the U.S Dollar is showing signs of recovery after surging to $92.02 high today adding more pressure on EUR/USD. Currently, the pair is trading 1.2002 intraday.

      With absence of strong fundamentals today, eyes will be shifted towards FOMC members as they cross wires today in the afternoon. Both Bostic and Williams with expectations that comments from Williams will have more weight considering the occasion and the topic.

      EUR/USD Technical Overview:

      Closing price: 1.2041

      Target price: 1.2100

      Resistance levels: 1.2065, 1.2100, 1.2150

      Support levels: 1.2000 , 1.1980 (10-EMA) , 1.1900

      Trend: Sideways / Up

      Trend reversal price: 1.1945

      Comment: The short term trend is up and pressing rallies give bull signals for a run to 1.2100+. A close over 1.2150 is bullish. A roll off from last week's congestion alerts for 2-4 days of retracements / defensive congestion. However, only a close under 1.1945 marks a short term reversing downturn.

      For more in depth Research & Analysis please visit FxGrow.

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