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  1. #901
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    FxGrow Daily Technical Analysis – 14th July, 2017
    By FxGrow Research & Analysis Team

    Futures Technical Overview Ahead of U.S Data Release

    U.S is set to release multi inflation figure with CPI and Core CPI in focus. Yesterday, market reaction to Yellen speech was mostly neutral, but what make today's data vital is that Yellen couldn't deliver clear signs about two main issues driving the market. First coming rate hikes and U.S Federal balance sheet. Both, will be subject to economic cycle performance and data should be watched in case the U.S Fed could take a decision regarding them.

    Hence, today's data will be watched closely by markets and based on results, traders will take action with expectation for high volatility than the previous days. The main focus will be on CPI and Core CPI as they have more impact on the interest rates in case a decision to be taken.

    The Fed chair is not speaking Friday, but Yellen's surprising comments on inflation in congressional testimony this week make Friday's CPI an even hotter topic for markets than it normally would be. CPI is expected to rise by a slight 0.1 percent on headline inflation. (CNBC).

    Technical levels for future currencies:

    SEP B-POUND

    Currently: 12971

    Target: None

    Resistance: 12977*, 13047+ 12933,

    Support: 12894-90, 12849

    Trend: Sdwys/Up

    Trend Reversal: 1.2802

    Comment The market remains short term bullish and yesterday's rally alerts for a preliminary upturn from recent corrections. Trade is poised to launch secondary rallies and a close over 12977* will spark a run to attack over the 13092 high. Any further dips should hold over Wednesday's low to keep a bull alignment. A drop under 12839 targets a drop to 12802* support.

    SEP EURO

    Currently: 114435

    Target: 11580

    Resistance: 11490, 11515+, 11580

    Support: 11413-12, 11391*

    Trend: Up

    Trend Reversal: 113.085

    Comment The market is bullish, still signaling for a run to 11580+. A pop over Wednesday's reversal high will spark the extension to 11580. Be prepared for additional near term corrective action today, but only a close under 11391* marks a near term peak and signals for retracements to attack 113085* for a larger downturn.

    SEP J-YEN

    Currently: 88545

    Target: None

    Resistance: 8879-8885, 8959*

    Support: 8838, 8805, 8760-

    Trend: Down

    Trend Reversal: 8959

    Comment: Overall the market is short term bearish. A roll off back through 8800- is negative. A close under the 8760 May low alerts for a larger bear wave near 8700. Wednesday's corrective action hints for near rebounds. A push over 8885 will boost rallies. A close over 8959* is needed to trigger a reversing turn and we should suspect a setback from 8959* on the first test.

    SEP SWISS

    Currently (10381)

    Target: None

    Resistance: 10411, 10444-57*,

    Support: 10483 10380*-, 10326-

    Trend: Sdwys

    Trend Reversal Point: 103.80

    Comment The market is still bullish and climb over last week's 10483 high or close over 10457* are needed to recapture bull forces and renew the projection to 10700+. However, note yesterday's close is against 10380* support which must hold to maintain bull trend forces. A close under 10380* is bearish, alerting for a selling wave under 10300-.

    SEP US DOLLAR

    Currently: (95508)

    Target: 9507

    Resistance: 95915, 9614, 96645*

    Support: 9530-, 9507

    Trend: Down

    Trend Reversal: 96.645

    Comment The market is bearish, still suggesting selloffs to reach for 9507. Last week's flagging action leaves trade ready to initiate the flagging downturn. A close under 9507 could add washouts to 9450-9400. Minor recovery action trapped inside this week's range will maintain bear forces. A rebound over 9596 is near term positive, but only a close over 96645* signals a lasting turn to higher prices.

    SEP AUSSIE$

    Currently: (7725)

    Target: 7818

    Resistance: 7818

    Support:7699, 7685, 7668*

    Trend: Up

    Trend Reversal: 7627

    Comment Yesterday's rally highlights a significant upside breakout and opens up potential for rallies to 7818. Trade is poised for aggressive rallies. Any corrective dips that hold within yesterday's range will maintain strong bull forces and create a staging level for rallies. Only a close under 7668* warns for a multi-day correction phase back down to 7627*.

    AUG GOLD

    Currently 121640

    Target: 118920

    Resistance: 122350-122420, 122830*

    Support: 121460-00, 1208-, 119940

    Trend: Down

    Trend Reversal: 1238.60

    Comment The market remains in a downturn and holds potential below 1200-. A flagging downturn from current corrections calls for aggressive selloffs. Near term corrections that stall in the 1220's will reinforce the bear pattern. A close over 122830* is needed to stop the downturn and send rallies to 123860*.


    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. #902
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    FxGrow Daily Technical Analysis – 17th July, 2017
    By FxGrow Research & Analysis Team

    EUR/USD Pushes Higher As The Buck Reaches Lower, CPI Eyed

    EUR/USD bullish trend is sustained supported by U.S Negative released on Friday, with disappointing CPI as Yellen mentioned that any tapering with Rates and U.S Federal balance sheet will be subject to economic data (U.S Data on Friday). As a result, the pair rallied from 1.1391 low on Friday, extended weaker gains this week with a higher high by 5-pips and 1.1475 peak for today.

    Currently, the pair is trading 1.1448, awaiting vital data as EU releases Final CPI y/y. ECB will release a statement this Thursday along with Interest Rates decision which makes today's data articular. Draghi has mentioned for a potential change or increasing rates, if not, Quantitative Easing program edition which is currently attracting EUR/USD fever buyers, hence the pair dwelling high above. As for the buck, the U.S Index looks helpless with a yearly low at 94.83 for today.

    Fundamentals:

    1- EUR - Findal CPI and Core CPI today at 9:00 AM GMT.

    Technical Overview:

    Trend: Up

    Target: 1.1580

    Resistance levels: R1 1.1485+ , R2 1.1528, R3 1.1560+/- (D1)

    Support levels: S1 1.1459, S2 1.1440, S3 1.1391 (D1)

    Comment EUR Future: The market is bullish, still signalling for a run to 1.1580+. A pop over last week's reversal high will spark the extension to 1.1580. Be prepared for additional near term corrective action along 1.1450 to continue developing a staging level for rallies. Only a close under 1.1391* marks a near term peak and signals for retracement to attack 1.1308* for a larger downturn.

    Daily RSI is at 62 , Hourly RSI at 51, which gives the pair space to push higher than Friday's 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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  4. #903
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    FxGrow Daily Technical Analysis – 18th July, 2017
    By FxGrow Research & Analysis Team

    Sterling Inches Higher Ahead of Multi Inflation Figures


    GBP/USD extended the bullish momentum today after a remarkable home-run on Friday with 1.3113 2017 news-highs. Yesterday, the pair made a correction plunging to 1.3046, resting daily RSI to 60 level, then rewarded losses clocking 1.3099 high ahead of major inflation data to be released today which could fuel GBP/USD for a newer high record in case of a positive UK CPI associated with previous hawkish speech by Carney, head of BOE.

    Add to that, U.S Dollar continues digging lower with 94.49 2017 fresh-low. Expectations of further tumbling for the U.S Index in the coming days as Reuters reported a setback yesterday for health care program and a major conflict among Republicans regarding the system.

    UK Data, after a release, will be followed by Gov. Carney in the afternoon with expectation for a hawkish tone supporting Sterling sharp tone facing pace buck, but still UK CPI will set the tone for Carney.

    Analysts at Nomura Securities - the global financial services giant - say the Bank of England will raise interest rates by ...

    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.
    Last edited by FxGrow Support; 07-18-2017 at 10:19 AM.
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  5. #904
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    FxGrow Daily Technical Analysis – 19th July, 2017
    By FxGrow Research & Analysis Team

    FxGrow: Forex Market Technical Overview

    EUR/USD: Potential For 1.1585 high

    Pivot: 1.1510
    Our preference: long positions above 1.1510 with targets at 1.1565 & 1.1585 in extension.
    Alternative scenario: below 1.1510 look for further downside with 1.1485 & 1.1470 as targets.
    Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

    GBP/USD Remains Under Pressure By Yesterday's Negative CPI

    Pivot: 1.3060
    Our preference: short positions below 1.3060 with targets at 1.3000 & 1.2950 in extension.
    Alternative scenario: above 1.3060 look for further upside with 1.3085 & 1.3115 as targets.
    Comment: the RSI is mixed to bearish.

    USD/JPY Intraday: key resistance at 112.40

    Pivot: 112.40
    Our preference: short positions below 112.40 with targets at 111.75 & 111.50 in extension.
    Alternative scenario: above 112.40 look for further upside with 112.85 & 113.15 as targets.
    Comment: the RSI is mixed to bearish.

    AUD/USD: The Upside Prevails With 2017 New Highs

    Pivot: 0.7865
    Our preference: long positions above 0.7865 with targets at 0.7950 & 0.7990 in extension.
    Alternative scenario: below 0.7865 look for further downside with 0.7835 & 0.7785 as targets.
    Comment: the RSI is mixed to bullish.

    Gold Extends Bullish Momentum Supported by Rising Trendline

    Pivot: 1238.00
    Our preference: long positions above 1238.00 with targets at 1247.00 & 1250.00 in extension.
    Alternative scenario: below 1238.00 look for further downside with 1232.50 & 1227.00 as targets.
    Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

    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. #905
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    FxGrow Daily Technical Analysis – 19th July, 2017
    By FxGrow Research & Analysis Team

    Global Glut Output Still Pressure Oil Levels Despite OPEC Efforts, Eyes on U.S Inventories


    Crude Oil still fails to close above $47 level, developing a habit with a sharp slip as a phobia. Through out July, crude oil was seen flirting with $47.00+, and yesterday, oil peaked to $47.12, giving potential for further advance, then failed to guard gains and closed at $46.41. Currently oil is trading at 50-EMA level at $46.46 intraday, and in case market closes above it, we could see some further gains in the coming days.

    Fundamentally, market is still receiving mix signals between OPEC pledging for further actions to curb global output and U.S increasing inventories that was reported yesterday.

    Libya and Nigeria has exceeded previous June levels with a report showing that both countries recorded a 3M bpd yesterday. Saudi Arabia, along with other OPEC countries still ...

    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. #906
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    FxGrow Daily Technical Analysis – 19th July, 2017
    By FxGrow Research & Analysis Team

    Aussie: Chances For Further Gains Ahead of Unemployment Rate


    Australian Dollar extended the intensive inclines, searching for newer highs as AUD/USD clocks multi years 0.7947 today. The pair uptrend found support by recent hawish RBA statement, positive Chinese GDP on Monday opening session, and continuous collapsing U.S Dollar as the Index with 94.26 low yesterday.

    The pair awaits vital data as Australia releases Unemployment Rate on Tuesday opening session. Expectations are at ...

    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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  8. #907
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    FxGrow Daily Technical Analysis – 20th July, 2017
    By FxGrow Research & Analysis Team

    USD/JPY Testing 50-EMA, Awaiting U.S Unemployment Data


    USD/JPY digested yesterday losses and surged 40-pips on Thursday's Asian session with 1.1217 high for today. Currently the pair is trading 112.10, hovering at 50-EMA at 112.05 preferring sideways trend and awaiting cautiously for further intake as U.S releases data on NY opening sessions.

    BOJ, as expected kept rates at current minus 0.1%, pushing back inflation target for sixth time and keeping policy steady with a bit hawkish stance contaminating USD/JPY spikes. Kuroda, BOJ Gov. will cross wires shortly with expectations that answers will be consistent with earlier statement but still, traders has to decipher words in case Kuroda got market off-guard.

    On the other hand, the pair price action will undergo ...

    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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  9. #908
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    FxGrow Daily Technical Analysis – 20th July, 2017
    By FxGrow Research & Analysis Team

    GBP/USD Trading Flat Ahead of UK Retails Sales


    GBP/USD has traded 18-pips on Thursday with 1.3014 low. The pair was on selloff wave on Tuesday after receiving negative UK CPI, but still the pair is bullish as dips still fight 1.3000 level with a constant re-bounce and calling for further pressings if we still consider recent daily candles as a correction phase. The pair is still trading above 10-EMA (1.2990), currently 1.3034 intraday.

    Sterling bullish momentum awaits UK Retail Sales to be released shortly (8:30 AM GMT) which justifies low price action today. Carney precious statements regarding BOE interest rates tapering was tackled on Tuesday as data and statement were opposed, but Retails Sales today will give a better view on how BOE is ...

    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. #909
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    FxGrow Daily Technical Analysis – 21st July, 2017
    By FxGrow Research & Analysis Team

    Daily Technical Market Overview

    EUR/USD Intraday: the bias remains bullish.

    Pivot: 1.1585

    Our preference: long positions above 1.1585 with targets at 1.1660 & 1.1685 in extension.

    Alternative scenario: below 1.1585 look for further downside with 1.1535 & 1.1495 as targets.

    Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


    GBP/USD Intraday: under pressure.

    Pivot: 1.3000

    Our preference: short positions below 1.3000 with targets at 1.2930 & 1.2900 in extension.

    Alternative scenario: above 1.3000 look for further upside with 1.3030 & 1.3055 as targets.

    Comment: as long as 1.3000 is resistance, look for choppy price action with a bearish bias.


    USD/JPY Intraday: key resistance at 112.10.

    ...

    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. #910
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    FxGrow Daily Technical Analysis – 24th July, 2017
    By FxGrow Research & Analysis Team

    EUR/USD Inching Higher Ahead of Multi Local PMI Data


    EUR/USD extended the uptrend momentum supported by Draghi's Thursday hawkish QE comments. The pair rallied from 1.1479 low on Thursday and clocked 1.1682 high on Friday with extra +2-pips today, 1.1684 high. On the other hand, uncertainties still revolves around the greenback with absence of health care bill accelerating scandals about Russia meddling in Trump's election pushing U.S Index into 93.63 yearly low.

    Technically, the pair is trading 1.1674, testing 10-EMA hourly at 1.1670 ahead of multi local flash Manufacturing and Services PMI which will give ...

    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. #911
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    FxGrow Daily Technical Analysis – 24th July, 2017
    By FxGrow Research & Analysis Team

    Gold Rallies To be Contained With An Overbought Market


    Gold was on a superb performance on Friday set on +12.35 gain and 1255.85 high. Today the precious extended rallies but on a slower pace adding +3.75 and July new high record at 1258, currently trading 1256.55 intraday, above daily-EMA at 1243.

    Technically, H4 RSI stands at 79%, hourly RSI at 65%, and daily RSI at 61.4%. On the other hand, Fibo level 61.8% indicates $1261 price. Taking into consideration that gold is currently bullish, but in XAUUSD wants to press forward, expectations for some correction consolidation sessions where market balances itself.

    Add to that, U.S Index been on an aggressive selloff wave hitting yearly low today at 93.63 low with daily RSI at 25% which indicates for some upward corrections pressuring gold for some retreats.

    On ZigZag pattern, gold dropped from 1296 high to 1204 low, lower than last time gold rallies from 1214 low, so expectations that gold rallies are on the maturing phase.

    Technical Summary: ...

    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. #912
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    FxGrow Daily Technical Analysis – 25th July, 2017
    By FxGrow Research & Analysis Team


    Futures Technical Overview 25 July 2017


    SEP EURO Closing (11677)

    Target: None

    Resistance: 11699, 11735-50

    Support: 11609, 115915*

    Trend: Up

    Swing Target: 79.99

    Range Reversal: 115.10

    Comment: The market is bullish and could yet extend the drive, but be careful for resistance near 11735-50. A close over 11750 is needed to fuel another aggressive bull wave. Be on guard for near term corrective dips and shift to sideways-defensive congestion. A close under 115915* will inject selling pressures, but only a close under 11510* triggers a lasting short term top.

    SEP J-YEN Closing (9026)

    Target: 9049 achieved

    Resistance: 90355, 9049*+/-

    Support: 8988, 89625, 89465*

    Trend: Up

    Swing Target: 117.27

    Range Reversal: 89.465

    Comment The market is short term bullish, but Monday's spike rally hit the expected 9049* resistance / bull objective. A close over 9049* is needed to continue bull trending to higher prices near the old downturn level around 9150+/-. Suspect setbacks from 9049* to retrace last week's range. A close under 89465* damages the bull advance, calling for a multi-week correction phase.

    SEP B-POUND Closing (13060) ...

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

    GBP/USD To Retest 10-EMA Ahead UK GDP


    GBP/USD failed to withhold yesterday's strong gains after clocking 1.3083 high, the pair was on a selloff wave landing on 1.3007 low and closing at 1.3024 with an inverted daily pin bar, still flirting with 10-EMA at 1.3000 level. Current daily RSI stands at 57% indicating bullish to neutral bias which gives enough space for the pair for pressing upwards in case UK GDP comes in favor of GBP/USD bullish trend. GBP/USD currently trading 1.3013 intraday with 16-pips price action.

    On the other hand, U.S Index remains bearish, and yesterday and currently recovery is considered a correction phase, as the downside still prevails for the buck. Currently trading at 39.97 intraday, after plunging to 93.45 yesterday ahead of ...

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

    Crude Oil Rallies Over Declining U.S Stocks And OPEC's Positive Efforts, Eyes on U.S Inventories


    Crude Oil managed to gain +2.27 On Tuesday after clocking $48.65 high, however, oil failed to add any $-pip value today, after a minor dip at 48.15. Currently, oil is trading with low price action with 43-pip-value, but expectations of higher volatility as markets awaits U.S Inventories release today 2:30 PM GMT.

    Positive Fundamentals since Monday has been pushing oil and contributing to oil bullish forces. First reports of U.S crude stocks falling sharply last week by 10.2 million barrels in the week ending July 21 to 487 M while expectations were at 2.6 M. Add to that, The market has been buoyed by Saudi Arabia's announcement at a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers on Monday that it would limit crude exports to 6.6 million barrels per day (bpd) in August, down nearly 1 million bpd from a year earlier. (Reuters).

    Technical Overview...

    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. #915
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    FxGrow Daily Technical Analysis – 26th July, 2017
    By FxGrow Research & Analysis Team

    Gold With Three Trend Scenarios Ahead of FOMC Statement


    Today, U.S Feds will release FOMC statement and analysts are divided about tilts or stance. The main points to be discussed are potential rate hike by 2017 and current balance sheet tapering. Market will be volatile, there is no doubt about that, along with it, gold will be on ups and downs. Traders can benefit if they managed to decipher a hawkish or dovish, but analysts could see the statement in their own perspective in case of vague or hidden as devils lies in details and Yellen has been noticed recently by not giving confirmed hints to build on. Preferable, to wait for a 100% confirmation with following three difference scenarios for gold to take next step for shortening or longing.

    Currently gold is traing 1246 and has not overpassed 1247.50 or dropped below 1244.50, indications that market is poised for FOMC so long waited this afternoon at 6:00 PM GMT.

    The Three Scenarios:

    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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    The formation of the upward impulse in the framework of the third wave of the upper level 3 is likely to continue. Locally the fifth wave v of 3 is developing, within which the third wave of lower level (iii) continues to get longer. If the assumption is correct, one may expect the growth of the price of the asset to 255.00-260.00. A critical level for this scenario is 235.05.

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    THis daily analysis thread has to be very useful. I got quite a bit knowledge of how this works. But still I Need learn a lot.

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