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Daily Technical Analysis by FxGrow


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#821
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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
GBPUSD%20investing_zpsdw4r0loo.png

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 ...


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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#822
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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
Gold_zps34w5w9g6.png

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.

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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#823
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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
crude_zpsykjehvab.png

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 ....

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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#824
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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
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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 ...

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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#825
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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
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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 ...

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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#826
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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
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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 ...

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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#827
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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
us_zpscxj2gzwm.jpg

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

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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#828
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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
eurusd_zpsz28rcxu4.png

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 ...

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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#829
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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
USDJPY_zpsp2aqhqly.png

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 ...


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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#830
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FxGrow Daily Technical Analysis – 30th May, 2017
By FxGrow Research & Analysis Team

Sterling Loses Momentum As UK's Election Race Tightens
GBPUSD_zpsmpe65tv0.png

GBP/USD peeked last Monday to 1.3043, boosted by PM May with her conservative party heading polls. But last week's terror attack on Manchester costed the conservative party 6 points down as latest surveys indicates, and when election polls looks murky without clear hints about final results, uncertainties revolves around Sterling as election race tightens.

Apparently, question marks has been aroused regarding PM May and her qualifications to lead UK's Ministry. As a result, GBP/USD has been on a gradual decline ladder since last week and the pair plunged to 1.2794 low today, currently trading ...


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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