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Daily Market Analysis by FxGrow

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  #81  
Old 27-10-2017, 12:49
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Default Re: Daily Market Analysis by FxGrow

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

Gold Has triggered A Price Action With Deeper Retractment, US GDP ??


After seven consolidation sessions where gold was fluctuating between 80+ and 70s area, finally gold has give a clear sign for a deeper dips and washes 6th Oct daily bullish grabber candle at 1260 low. Yesterday, gold extended the correction phase clocking 1282.60 high then started deprecation gradually, but after ECB's dovish scenario and as the EURO was aggressively plunging, the Dollar Index (DXY) was strengthening hitting three months high at 94.60, gold submitted closed one hour below 70, then extended losses at 1265.80 low.

Today, gold traded narrow inside yesterday's candle with 1264.80 low, then started another correction phase till 1269, currently trading 1268 Intraday.

Technically, yesterday's bearish candle is to be considered engulfing for 6th Oct bullish grabber and erased all the scenarios for potential upward trend reversal, and at this moment, market should expect some upward corrections between 72 and 78, but the 1250-45 zone still persists. Add to that, the 10-year yield bonds were also rising with 2.47 high today which adds more pressure on gold along with strong greenback.

Fundamentally, market is awaiting U.S GDP which will be released today at 12:30 PM GMT, and market stands at two possible scenarios. In both cases, whether data is negative or positive and taking into consideration that DXY levels at H1 and H4 are oversold at RSI, gold and in react to the data, could rally shortly around 72 and 76 levels, but eventually the 1250+/- will be achieved (Technically). The other scenario is that gold could start falling reaching 1260-58 support area and start upward correction retracement also at 70s area, and again, the 1250+/- should be achieved (technically).

Last but least, and to add an unpleasant scenario that could reverse the technical overview is any real political tension between NK and USA with serious actions, in this case we gold will shift as safe haven substitute and will start rising gradually depending on the level or pace of the events.

XAUUSD Technical Summary

Current price: 1268

Closing price: 1267.60

Trend: Down

Target price: none at this moment

Trend Reversal price: 1291.40

Resistance levels: 1270-72, 1282

Support levels: 1262.50 , 1260, 1250+/-

Comment: Comment The market is bearish and suggesting a bear extension to test around the last swing low in the 1264-1261 levels. A close under 1260 opens up potential near 1250. Any corrections trapped within yesterday's outside bear range should retain bear forces and bear flag. A pop over 1282.30 is needed to stop pressing bear forces, however, only a close above 1291.40 will shit bear to bull trend.


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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  #82  
Old 31-10-2017, 13:18
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FxGrow Daily Technical Analysis – 31st Oct, 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 31 Oct 2017

GBP/USD Intraday: the bias remains bullish.


Pivot: 1.3165

Our preference: long positions above 1.3165 with targets at 1.3235 & 1.3280 in extension.

Alternative scenario: below 1.3165 look for further downside with 1.3125 & 1.3080 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1.3325
1.3280
1.3235
1.3210 Last
1.3165
1.3125
1.3080

USD/JPY Intraday: consolidation.


Pivot: 113.55

Our preference: short positions below 113.55 with targets at 112.95 & 112.70 in extension.

Alternative scenario: above 113.55 look for further upside with 113.80 & 114.00 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
114.00
113.80
113.55
113.21 Last
112.95
112.70
112.30

EUR/USD Intraday: intraday support around 1.1600.


Pivot: 1.1600

Our preference: long positions above 1.1600 with targets at 1.1675 & 1.1710 in extension.

Alternative scenario: below 1.1600 look for further downside with 1.1570 & 1.1520 as targets.

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

Supports and resistances:
1.1750
1.1710
1.1675
1.1637 Last
1.1600
1.1570
1.1520

AUD/USD Intraday: bullish bias above 0.7650.


Pivot: 0.7650

Our preference: long positions above 0.7650 with targets at 0.7700 & 0.7720 in extension.

Alternative scenario: below 0.7650 look for further downside with 0.7625 & 0.7605 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
0.7745
0.7720
0.7700
0.7670 Last
0.7650
0.7625
0.7605

Crude Oil‏ (WTI)‏ (Z7) Intraday: the bias remains bullish.


Pivot: 53.60

Our preference: long positions above 53.60 with targets at 54.50 & 54.75 in extension.

Alternative scenario: below 53.60 look for further downside with 53.15 & 52.85 as targets.

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

Supports and resistances:
55.00
54.75
54.50
53.97 Last
53.60
53.15
52.85

Gold spot Intraday: the bias remains bullish.


Pivot: 1271.50

Our preference: long positions above 1271.50 with targets at 1279.00 & 1283.00 in extension.

Alternative scenario: below 1271.50 look for further downside with 1268.50 & 1260.00 as targets.

Comment: the RSI is supported by a rising trend line.

Supports and resistances:
1288.00
1283.00
1279.00
1276.22 Last
1271.50
1268.50
1260.00

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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  #83  
Old 02-11-2017, 11:23
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Default Re: Daily Market Analysis by FxGrow

FxGrow Daily Technical Analysis – 2nd Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 2nd Nov 2017

EUR/USD Intraday: continuation of the rebound.


Pivot: 1.1625

Our preference: long positions above 1.1625 with targets at 1.1690 & 1.1720 in extension.

Alternative scenario: below 1.1625 look for further downside with 1.1600 & 1.1570 as targets.

Comment: the break above 1.1625 is a positive signal that has opened a path to 1.1690.

Supports and resistances:
1.1750 **
1.1720 **
1.1690 **
1.1643 Last
1.1625 ***
1.1600 *
1.1570 **

USD/JPY Intraday: bullish bias above 113.75.


Pivot: 113.75

Our preference: long positions above 113.75 with targets at 114.30 & 114.75 in extension.

Alternative scenario: below 113.75 look for further downside with 113.30 & 112.95 as targets.

Comment: a support base at 113.75 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
115.20
114.75
114.30
114.05 Last
113.75
113.30
112.95

GBP/USD Intraday: intraday support around 1.3240.


Pivot: 1.3240

Our preference: long positions above 1.3240 with targets at 1.3320 & 1.3360 in extension.

Alternative scenario: below 1.3240 look for further downside with 1.3190 & 1.3155 as targets.

Comment: a support base at 1.3240 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1.3380
1.3360
1.3320
1.3256 Last
1.3240
1.3190
1.3155

AUD/USD Intraday: continuation of the rebound.


Pivot: 0.7680

Our preference: long positions above 0.7680 with targets at 0.7750 & 0.7770 in extension.

Alternative scenario: below 0.7680 look for further downside with 0.7640 & 0.7620 as targets.

Comment: the break above 0.7680 is a positive signal that has opened a path to 0.7750.

Supports and resistances:
0.7790 **
0.7770 **
0.7750 **
0.7684 Last
0.7680 ***
0.7640 **
0.7620 *

Crude Oil‏ (WTI)‏ (Z7) Intraday: under pressure.


Pivot: 54.70

Our preference: short positions below 54.70 with targets at 53.80 & 53.40 in extension.

Alternative scenario: above 54.70 look for further upside with 55.22 & 55.70 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Supports and resistances:
55.70
55.22
54.70
54.10 Last
53.80
53.40
52.80

Gold spot Intraday: bullish bias above 1273.00.


Pivot: 1273.00

Our preference: long positions above 1273.00 with targets at 1282.50 & 1286.00 in extension.

Alternative scenario: below 1273.00 look for further downside with 1268.00 & 1265.00 as targets.

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

Supports and resistances:
1291.00
1286.00
1282.50
1276.40 Last
1273.00
1268.00
1265.00

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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  #84  
Old 06-11-2017, 18:59
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Default Re: Daily Market Analysis by FxGrow

FxGrow Daily Technical Analysis – 6th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 6 Nov 2017

AUD/USD Intraday: key resistance at 0.7670.


Pivot: 0.7670

Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7615 in extension.

Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7715 as targets.

Comment: as long as 0.7670 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
0.7715 **
0.7695 **
0.7670 ***
0.7665 Last
0.7635 *
0.7615 *
0.7595 *

GBP/USD Intraday: continuation of the rebound.


Pivot: 1.3070

Our preference: long positions above 1.3070 with targets at 1.3135 & 1.3170 in extension.

Alternative scenario: below 1.3070 look for further downside with 1.3040 & 1.3000 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
1.3190 **
1.3170 *
1.3135 *
1.3113 Last
1.3070 ***
1.3040 *
1.3000 *

USD/JPY Intraday: bullish bias above 114.00.


Pivot: 114.00

Our preference: long positions above 114.00 with targets at 114.40 & 114.70 in extension.

Alternative scenario: below 114.00 look for further downside with 113.60 & 113.30 as targets.

Comment: a support base at 114.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
115.00
114.70
114.40
114.06 Last
114.00
113.60
113.30

EUR/USD Intraday: the downside prevails.


Pivot: 1.1620

Our preference: short positions below 1.1620 with targets at 1.1570 & 1.1530 in extension.

Alternative scenario: above 1.1620 look for further upside with 1.1665 & 1.1685 as targets.

Comment: the RSI has failed to break above its bearish trendline.

Supports and resistances:
1.1685 **
1.1665 **
1.1620 ***
1.1596 Last
1.1570 *
1.1530 *
1.1490 **

Gold spot Intraday: under pressure.


Pivot: 1273.50

Our preference: short positions below 1273.50 with targets at 1265.00 & 1260.00 in extension.

Alternative scenario: above 1273.50 look for further upside with 1280.50 & 1284.00 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
1284.00
1280.50
1273.50
1269.72 Last
1265.00
1260.00
1253.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: the upside prevails.


Pivot: 55.25

Our preference: long positions above 55.25 with targets at 56.55 & 56.85 in extension.

Alternative scenario: below 55.25 look for further downside with 54.90 & 54.40 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
57.50
56.85
56.55
56.04 Last
55.25
54.90
54.40


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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  #85  
Old 08-11-2017, 03:06
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Default Re: Daily Market Analysis by FxGrow

FxGrow Daily Technical Analysis – 7th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 7 Nov 2017

EUR/USD Intraday: the downside prevails.


Pivot: 1.1620

Our preference: short positions below 1.1620 with targets at 1.1580 & 1.1560 in extension.

Alternative scenario: above 1.1620 look for further upside with 1.1640 & 1.1665 as targets.

Comment: as long as 1.1620 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
1.1665 **
1.1640 **
1.1620 ***
1.1589 Last
1.1580 *
1.1560 *
1.1530 **

AUD/USD Intraday: intraday support around 0.7670.


Pivot: 0.7670

Our preference: long positions above 0.7670 with targets at 0.7695 & 0.7710 in extension.

Alternative scenario: below 0.7670 look for further downside with 0.7650 & 0.7635 as targets.

Comment: the break above 0.7670 is a positive signal that has opened a path to 0.7695.

Supports and resistances:
0.7730 **
0.7710 **
0.7695 **
0.7677 Last
0.7670 ***
0.7650 *
0.7635 *

USD/JPY Intraday: the downside prevails.


Pivot: 114.15

Our preference: short positions below 114.15 with targets at 113.65 & 113.30 in extension.

Alternative scenario: above 114.15 look for further upside with 114.40 & 114.70 as targets.

Comment: the break below 114.15 is a negative signal that has opened a path to 113.65.

Supports and resistances:
114.70
114.40
114.15
114.13 Last
113.65
113.30
113.00

GBP/USD Intraday: bullish bias above 1.3125.


Pivot: 1.3125

Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3235 in extension.

Alternative scenario: below 1.3125 look for further downside with 1.3080 & 1.3040 as targets.

Comment: the break above 1.3125 is a positive signal that has opened a path to 1.3190.

Supports and resistances:
1.3290 **
1.3235 *
1.3190 *
1.3170 Last
1.3125 ***
1.3080 *
1.3040 *

Crude Oil‏ (WTI)‏ (Z7) Intraday: further upside.


Pivot: 56.75

Our preference: long positions above 56.75 with targets at 58.00 & 58.40 in extension.

Alternative scenario: below 56.75 look for further downside with 56.10 & 55.65 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
59.15
58.40
58.00
57.42 Last
56.75
56.10
55.65

Gold spot Intraday: the bias remains bullish.


Pivot: 1273.00

Our preference: long positions above 1273.00 with targets at 1284.00 & 1290.50 in extension.

Alternative scenario: below 1273.00 look for further downside with 1265.00 & 1260.00 as targets.

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

Supports and resistances:
1296.50
1290.50
1284.00
1277.70 Last
1273.00
1265.00
1260.00

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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  #86  
Old 13-11-2017, 11:29
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Default Re: Daily Market Analysis by FxGrow

FxGrow Daily Technical Analysis – 13th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical 13 Nov 2017

GBP/USD Intraday: the downside prevails.


Pivot: 1.3175

Our preference: short positions below 1.3175 with targets at 1.3080 & 1.3040 in extension.

Alternative scenario: above 1.3175 look for further upside with 1.3230 & 1.3270 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.3270 **
1.3230 **
1.3175 **
1.3130 Last
1.3080 ***
1.3040 **
1.3025 **

USD/JPY Intraday: turning down.


Pivot: 113.75

Our preference: short positions below 113.75 with targets at 113.20 & 113.05 in extension.

Alternative scenario: above 113.75 look for further upside with 114.05 & 114.30 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
114.30 *
114.05 *
113.75 ***
113.45 Last
113.20 **
113.05 *
112.90 **

EUR/USD Intraday: the upside prevails.


Pivot: 1.1635

Our preference: long positions above 1.1635 with targets at 1.1680 & 1.1700 in extension.

Alternative scenario: below 1.1635 look for further downside with 1.1610 & 1.1580 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1.1720 **
1.1700 **
1.1680 **
1.1655 Last
1.1635 ***
1.1610 *
1.1580 **

AUD/USD Intraday: consolidation.


Pivot: 0.7670

Our preference: short positions below 0.7670 with targets at 0.7635 & 0.7620 in extension.

Alternative scenario: above 0.7670 look for further upside with 0.7695 & 0.7710 as targets.

Comment: as long as the resistance at 0.7670 is not surpassed, the risk of the break below 0.7635 remains high.

Supports and resistances:
0.7710 *
0.7695 *
0.7670 **
0.7650 Last
0.7635 **
0.7620 *
0.7600 *

Crude Oil‏ (WTI)‏ (Z7) ST: further advance.


Pivot: 52.80

Our preference: long positions above 52.80 with targets at 59.45 & 62.00 in extension.

Alternative scenario: below 52.80 look for further downside with 50.00 & 47.50 as targets.

Comment: the RSI advocates for further advance.

Supports and resistances:
64.50 ***
62.00 **
59.45 **
56.79 Last
52.80 ***
50.00 **
47.50 ***

Gold spot Intraday: the downside prevails.


Pivot: 1282.00

Our preference: short positions below 1282.00 with targets at 1273.00 & 1270.00 in extension.

Alternative scenario: above 1282.00 look for further upside with 1285.50 & 1289.00 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Supports and resistances:
1289.00
1285.50
1282.00
1276.10 Last
1273.00
1270.00
1266.00

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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  #87  
Old 14-11-2017, 09:30
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Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Remains In Consolidation Downtrend With Positive CPI Expectations


GBP/USD still trades inside Nov. 2nd candle shadow with failure to break lower or higher, thus entering eighth trading consolidation session, and remains bearish with heavy selloff wave.

Yesterday, the cable rallied to 1.3179 high but failed to press forward, retreated to 1.3061 low, and closed at 1.3113. Today, GBP/USD is trading narrow with 38-pips price action after plunging to 1.3090 low.

As for Fundamentals, UK is set to release Inflation (CPI) data with high anticipation for a record above 3.1% with 0.2 point basis, but still it is not clear how market will react for such data release especially after the pair was already priced in for last BOE's rate hike. Shortly afterwards Carney will cross wires a long with major governors key speakers.

Analysts at TDS are looking for UK headline CPI to accelerate from 3.0% to a firmly outside the target band level of 3.3% y/y in October, leaving us above consensus (3.1%) and the BoE’s forecast from the Nov IR (3.2%).

Technical Overview GBP/USD

Current price: 1.3102

Target price: 1.2950

Resistance levels: 1.3140, 1.3170, 1.3200-20

Support levels: 1.1380, 1.3035, 1.3001

Trend: Sideways Down

Comment The market is short term negative and Monday's gap lower highlights a return to down trending action, projecting an initial bear leg to 1.2950-. A close below 1.3080 should release selloffs. Stay prepared for additional near term sideways corrective congestion, but rejected rallies against Monday's gap should bear flag. A close over 1.3210* is needed to signal a trend turn back to the upside.

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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  #88  
Old 14-11-2017, 11:48
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Default Re: Daily Market Analysis by FxGrow

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

EUR/USD Intraday: further advance.


Pivot: 1.1660

Our preference: long positions above 1.1660 with targets at 1.1720 & 1.1735 in extension.

Alternative scenario: below 1.1660 look for further downside with 1.1635 & 1.1620 as targets.

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

Supports and resistances:
1.1750 ***
1.1735 ***
1.1720 ***
1.1690 Last
1.1660 ***
1.1635 *
1.1620 **

GBP/USD Intraday: key resistance at 1.3135.


Pivot: 1.3135

Our preference: short positions below 1.3135 with targets at 1.3085 & 1.3060 in extension.

Alternative scenario: above 1.3135 look for further upside with 1.3175 & 1.3205 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.3135.

Supports and resistances:
1.3205 **
1.3175 ***
1.3135 **
1.3105 Last
1.3085 ***
1.3060 **
1.3040 ***

USD/JPY Intraday: further upside.


Pivot: 113.40

Our preference: long positions above 113.40 with targets at 114.05 & 114.30 in extension.

Alternative scenario: below 113.40 look for further downside with 113.20 & 113.05 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
114.45 **
114.30 ***
114.05 ***
113.75 Last
113.40 **
113.20 *
113.05 **

AUD/USD Intraday: under pressure.


Pivot: 0.7150

Our preference: short @ 0.7625 with targets @ 0.7605 & 0.7575 in extension.

Alternative scenario: above 0.7640 look for further upside with 0.7665 & 0.7685 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
0.7685 *
0.7665 *
0.7640 **
0.7622 Last
0.7605 ***
0.7575 *
0.7545 **

Crude Oil‏ (WTI)‏ (Z7) Intraday: key resistance at 56.85.


Pivot: 56.85

Our preference: short positions below 56.85 with targets at 56.30 & 56.10 in extension.

Alternative scenario: above 56.85 look for further upside with 57.15 & 57.50 as targets.

Comment: the RSI is capped by a declining trend line.

Supports and resistances:
57.50
57.15
56.85
56.55 Last
56.30
56.10
55.65

Gold spot Intraday: under pressure.


Pivot: 1280.00

Our preference: short positions below 1280.00 with targets at 1273.00 & 1270.00 in extension.

Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1285.50 as targets.

Comment: the RSI is below its neutrality area at 50%

Supports and resistances:
1285.50
1283.00
1280.00
1276.42 Last
1273.00
1270.00
1266.00

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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  #89  
Old 15-11-2017, 10:56
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Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: continuation of the rebound.


Pivot: 1.3125

Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3230 in extension.

Alternative scenario: below 1.3125 look for further downside with 1.3085 & 1.3060 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.3265 **
1.3230 ***
1.3190 ***
1.3165 Last
1.3125 ***
1.3085 ***
1.3060 ***

USD/JPY Intraday: under pressure.


Pivot: 113.50

Our preference: short positions below 113.50 with targets at 112.50 & 112.30 in extension.

Alternative scenario: above 113.50 look for further upside with 113.70 & 113.90 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.90 ***
113.70 ***
113.50 ***
113.00 Last
112.50 **
112.30 **
112.10 ***

EUR/USD Intraday: further advance.


Pivot: 1.1775

Our preference: long positions above 1.1775 with targets at 1.1865 & 1.1880 in extension.

Alternative scenario: below 1.1775 look for further downside with 1.1730 & 1.1700 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.1900
1.1880
1.1865
1.1824 Last
1.1775
1.1730
1.1700

AUD/USD Intraday: consolidation.


Pivot: 0.7610

Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension.

Alternative scenario: above 0.7610 look for further upside with 0.7625 & 0.7650 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
0.7650 ***
0.7625 *
0.7610 ***
0.7585 Last
0.7570 ***
0.7550 *
0.7525 **

Crude Oil‏ (WTI)‏ (Z7) Intraday: the downside prevails.


Pivot: 55.80

Our preference: short positions below 55.80 with targets at 54.60 & 54.40 in extension.

Alternative scenario: above 55.80 look for further upside with 56.25 & 56.60 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
56.60
56.25
55.80
55.15 Last
54.60
54.40
54.10

Gold spot Intraday: further advance.


Pivot: 1276.50

Our preference: long positions above 1276.50 with targets at 1286.00 & 1288.50 in extension.

Alternative scenario: below 1276.50 look for further downside with 1271.00 & 1266.00 as targets.

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

Supports and resistances:
1291.00
1288.50
1286.00
1282.62 Last
1276.50
1271.00
1266.00

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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  #90  
Old 16-11-2017, 05:39
FxGrow10's Avatar
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Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

EURO Bulls Takes Over Dollar Bears, Eyes On CPI


EUR/USD bulls were highly occupied yesterday with 143-pips price action and 1.1805 high. Today, the pair extended the upward destination and clocked 1.1852 high, currently trading 1.1836 intraday.

Apparently, comments yesterday by Fed's Bullard indicating that current interest rate level likely to remain appropriate over near-term weighted negatively on the DXY, losing $1.10 value since yesterday which broke daily rising trend line and closed below it.

Market is currently in action, but suspense will increase shortly as U.S releases multi inflation figures with CPI and Core CPI in focus. Today's data is vital and it will re-shape the odds of potential Dec. Fed hike.



EUR/USD Technical Overview:

Closing price: 1.1797

Target price: 1.1934

Resistance levels: 1.1880, 1.1934*

Support levels: 1.1781 , 1.1731

Trend: Up

Comment Yesterday's surge higher triggers a short term bottoming upturn and projects a drive to 1.1934*. Trade is poised for continuation rallies today. Any corrections that hang in the upper half of yesterday's upturn should bull flag. Only a close under 1.1731* stops the upswing anf warns for corrective congestion along 1.1700+/-.


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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  #91  
Old 16-11-2017, 10:26
FxGrow10's Avatar
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Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: under pressure.


Pivot: 1.3185

Our preference: short positions below 1.3185 with targets at 1.3130 & 1.3110 in extension.

Alternative scenario: above 1.3185 look for further upside with 1.3215 & 1.3250 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.3250
1.3215
1.3185
1.3152 Last
1.3130
1.3110
1.3080

USD/JPY Intraday: continuation of the rebound.


Pivot: 112.70

Our preference: long positions above 112.70 with targets at 113.50 & 113.75 in extension.

Alternative scenario: below 112.70 look for further downside with 112.45 & 112.15 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
113.90 ***
113.75 ***
113.50 ***
113.07 Last
112.70 **
112.45 **
112.15 ***

EUR/USD Intraday: consolidation.


Pivot: 1.1805

Our preference: short positions below 1.1805 with targets at 1.1760 & 1.1725 in extension.

Alternative scenario: above 1.1805 look for further upside with 1.1830 & 1.1860 as targets.

Comment: a break below 1.1760 would trigger a drop towards 1.1725.

Supports and resistances:
1.1860
1.1830
1.1805
1.1775 Last
1.1760
1.1725
1.1700

AUD/USD Intraday: under pressure.


Pivot: 0.7610

Our preference: short positions below 0.7610 with targets at 0.7570 & 0.7550 in extension.

Alternative scenario: above 0.7610 look for further upside with 0.7630 & 0.7650 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.7610.

Supports and resistances:
0.7650 ***
0.7630 *
0.7610 ***
0.7590 Last
0.7570 ***
0.7550 *
0.7525 **

Gold spot Intraday: key resistance at 1280.00.


Pivot: 1280.00

Our preference: short positions below 1280.00 with targets at 1274.00 & 1271.00 in extension.

Alternative scenario: above 1280.00 look for further upside with 1283.00 & 1286.50 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1286.50
1283.00
1280.00
1276.70 Last
1274.00
1271.00
1266.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: turning up.


Pivot: 55.15

Our preference: long positions above 55.15 with targets at 55.80 & 56.05 in extension.

Alternative scenario: below 55.15 look for further downside with 54.80 & 54.40 as targets.

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

Supports and resistances:
56.30
56.05
55.80
55.42 Last
55.15
54.80
54.40

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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  #92  
Old 17-11-2017, 09:48
FxGrow10's Avatar
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Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: further advance.


Pivot: 1.3175

Our preference: long positions above 1.3175 with targets at 1.3275 & 1.3300 in extension.

Alternative scenario: below 1.3175 look for further downside with 1.3135 & 1.3110 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.3320
1.3300
1.3275
1.3230 Last
1.3175
1.3135
1.3110

USD/JPY Intraday: under pressure.


Pivot: 113.00

Our preference: short positions below 113.00 with targets at 112.15 & 111.90 in extension.

Alternative scenario: above 113.00 look for further upside with 113.30 & 113.55 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Supports and resistances:
113.55 ***
113.30 ***
113.00 ***
112.60 Last
112.15 **
111.90 ***
111.60 **

EUR/USD Intraday: the upside prevails.


Pivot: 1.1760

Our preference: long positions above 1.1760 with targets at 1.1830 & 1.1860 in extension.

Alternative scenario: below 1.1760 look for further downside with 1.1725 & 1.1700 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1.1880
1.1860
1.1830
1.1796 Last
1.1760
1.1725
1.1700

AUD/USD Intraday: under pressure.
[IMGhttps://s5.postimg.org/gmmt827nb/image.png[/IMG]

Pivot: 0.7605

Our preference: short positions below 0.7605 with targets at 0.7525 & 0.7490 in extension.

Alternative scenario: above 0.7605 look for further upside with 0.7630 & 0.7650 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
0.7650 ***
0.7630 *
0.7605 ***
0.7560 Last
0.7525 ***
0.7490 **
0.7470 ***

Gold spot Intraday: the upside prevails.


Pivot: 1277.00

Our preference: long positions above 1277.00 with targets at 1286.50 & 1289.50 in extension.

Alternative scenario: below 1277.00 look for further downside with 1273.00 & 1270.00 as targets.

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

Supports and resistances:
1293.00
1289.50
1286.50
1282.20 Last
1277.00
1273.00
1270.00

Crude Oil‏ (WTI)‏ (Z7) Intraday: caution.


Pivot: 55.48

Our preference: short positions below 55.48 with targets at 55.00 & 54.80 in extension.

Alternative scenario: above 55.48 look for further upside with 55.80 & 56.05 as targets.

Comment: the RSI is mixed and calls for caution.

Supports and resistances:
56.05
55.80
55.48
55.37 Last
55.00
54.80
54.40


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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  #93  
Old 21-11-2017, 10:40
FxGrow10's Avatar
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Join Date: May 2015
Location: Cyprus
Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: the bias remains bullish.


Pivot: 1.3220

Our preference: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.

Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.

Comment: the RSI advocates for further upside.

Supports and resistances:
1.3320
1.3300
1.3280
1.3250 Last
1.3220
1.3200
1.3180

USD/JPY Intraday: the bias remains bullish.


Pivot: 112.20

Our preference: long positions above 112.20 with targets at 112.75 & 113.00 in extension.

Alternative scenario: below 112.20 look for further downside with 111.90 & 111.60 as targets.

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

Supports and resistances:
113.35 ***
113.00 ***
112.75 ***
112.45 Last
112.20 **
111.90 ***
111.60 **

EUR/USD Intraday: consolidation.


Pivot: 1.1770

Our preference: short positions below 1.1770 with targets at 1.1720 & 1.1685 in extension.

Alternative scenario: above 1.1770 look for further upside with 1.1810 & 1.1850 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1.1850
1.1810
1.1770
1.1745 Last
1.1720
1.1685
1.1650

AUD/USD Intraday: the downside prevails.


Pivot: 0.7570

Our preference: short positions below 0.7570 with targets at 0.7510 & 0.7490 in extension.

Alternative scenario: above 0.7570 look for further upside with 0.7590 & 0.7610 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
0.7610 ***
0.7590 **
0.7570 ***
0.7535 Last
0.7510 ***
0.7490 **
0.7465 ***

Crude Oil? (WTI)? (F8) Intraday: rebound expected.


Pivot: 56.25

Our preference: long positions above 56.25 with targets at 56.65 & 56.95 in extension.

Alternative scenario: below 56.25 look for further downside with 55.95 & 55.75 as targets.

Comment: the RSI is mixed with a bullish bias.

Supports and resistances:
57.20
56.95
56.65
56.45 Last
56.25
55.95
55.75

Gold spot Intraday: key resistance at 1285.00.


Pivot: 1285.00

Our preference: short positions below 1285.00 with targets at 1274.00 & 1271.50 in extension.

Alternative scenario: above 1285.00 look for further upside with 1290.00 & 1293.50 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1285.00.

Supports and resistances:
1293.50
1290.00
1285.00
1280.70 Last
1274.00
1271.50
1266.00

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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  #94  
Old 22-11-2017, 13:07
FxGrow10's Avatar
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Join Date: May 2015
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Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: supported by a rising trend line.


Pivot: 1.3220

Our preference: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.

Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1.3320
1.3300
1.3280
1.3250 Last
1.3220
1.3200
1.3180

USD/JPY Intraday: under pressure.


Pivot: 112.50

Our preference: short positions below 112.50 with targets at 111.95 & 111.70 in extension.

Alternative scenario: above 112.50 look for further upside with 112.70 & 113.00 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.00 ***
112.70 ***
112.50 ***
112.20 Last
111.95 ***
111.70 ***
111.35 ***

EUR/USD Intraday: continuation of the rebound.


Pivot: 1.1730

Our preference: long positions above 1.1730 with targets at 1.1775 & 1.1810 in extension.

Alternative scenario: below 1.1730 look for further downside with 1.1710 & 1.1685 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.1850
1.1810
1.1775
1.1765 Last
1.1730
1.1710
1.1685

AUD/USD Intraday: bullish bias above 0.7555.


Pivot: 0.7555

Our preference: long positions above 0.7555 with targets at 0.7590 & 0.7610 in extension.

Alternative scenario: below 0.7555 look for further downside with 0.7530 & 0.7510 as targets.

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

Supports and resistances:
0.7635 ***
0.7610 ***
0.7590 ***
0.7575 Last
0.7555 ***
0.7530 ***
0.7510 **

Crude Oil‏ (WTI)‏ (F8) Intraday: further advance.


Pivot: 57.20

Our preference: long positions above 57.20 with targets at 58.15 & 58.60 in extension.

Alternative scenario: below 57.20 look for further downside with 56.85 & 56.55 as targets.

Comment: the RSI advocates for further upside.

Supports and resistances:
59.00
58.60
58.15
57.86 Last
57.20
56.85
56.55

Gold spot Intraday: continuation of the rebound.


Pivot: 1276.00

Our preference: long positions above 1276.00 with targets at 1290.00 & 1293.50 in extension.

Alternative scenario: below 1276.00 look for further downside with 1271.50 & 1266.00 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
1297.00
1293.50
1290.00
1283.80 Last
1276.00
1271.50
1266.00

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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  #95  
Old 23-11-2017, 09:33
FxGrow10's Avatar
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Join Date: May 2015
Location: Cyprus
Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: further advance.


Pivot: 1.3280

Our preference: long positions above 1.3280 with targets at 1.3345 & 1.3375 in extension.

Alternative scenario: below 1.3280 look for further downside with 1.3255 & 1.3220 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.3405
1.3375
1.3345
1.3310 Last
1.3280
1.3255
1.3220

USD/JPY Intraday: the downside prevails.


Pivot: 111.95

Our preference: short positions below 111.95 with targets at 111.00 & 110.65 in extension.

Alternative scenario: above 111.95 look for further upside with 112.40 & 112.70 as targets.

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

Supports and resistances:
112.70
112.40
111.95
111.50 Last
111.00
110.65
110.25

EUR/USD Intraday: the bias remains bullish.


Pivot: 1.1785

Our preference: long positions above 1.1785 with targets at 1.1850 & 1.1880 in extension.

Alternative scenario: below 1.1785 look for further downside with 1.1755 & 1.1735 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1.1910
1.1880
1.1850
1.1820 Last
1.1785
1.1755
1.1735

AUD/USD Intraday: the upside prevails.


Pivot: 0.7590

Our preference: long positions above 0.7590 with targets at 0.7625 & 0.7650 in extension.

Alternative scenario: below 0.7590 look for further downside with 0.7560 & 0.7530 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
0.7675 ***
0.7650 ***
0.7625 ***
0.7610 Last
0.7590 ***
0.7560 ***
0.7530 ***

Crude Oil‏ (WTI)‏ (F8) Intraday: supported by a rising trend line.


Pivot: 57.50

Our preference: long positions above 57.50 with targets at 58.20 & 58.60 in extension.

Alternative scenario: below 57.50 look for further downside with 57.15 & 56.85 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
59.00
58.60
58.20
57.90 Last
57.50
57.15
56.85

Gold spot Intraday: bullish bias above 1284.00.


Pivot: 1284.00

Our preference: long positions above 1284.00 with targets at 1297.00 & 1300.00 in extension.

Alternative scenario: below 1284.00 look for further downside with 1279.00 & 1276.00 as targets.

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

Supports and resistances:
1303.50
1300.00
1297.00
1289.27 Last
1284.00
1279.00
1276.00

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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  #96  
Old 24-11-2017, 14:46
FxGrow10's Avatar
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Location: Cyprus
Posts: 117
Default Re: Daily Market Analysis by FxGrow

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

GBP/USD Intraday: intraday support around 1.3280.


Pivot: 1.3280

Our preference: long positions above 1.3280 with targets at 1.3315 & 1.3335 in extension.

Alternative scenario: below 1.3280 look for further downside with 1.3255 & 1.3220 as targets.

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

Supports and resistances:
1.3375
1.3335
1.3315
1.3300 Last
1.3280
1.3255
1.3220

USD/JPY Intraday: under pressure.


Pivot: 111.65

Our preference: short positions below 111.65 with targets at 111.05 & 110.65 in extension.

Alternative scenario: above 111.65 look for further upside with 111.95 & 112.40 as targets.

Comment: the upward potential is likely to be limited by the resistance at 111.65.

Supports and resistances:
112.40
111.95
111.65
111.35 Last
111.05
110.65
110.25

EUR/USD Intraday: intraday support around 1.1825.


Pivot: 1.1825

Our preference: long positions above 1.1825 with targets at 1.1860 & 1.1880 in extension.

Alternative scenario: below 1.1825 look for further downside with 1.1800 & 1.1770 as targets.

Comment: technically the RSI is above its neutrality area at 50.

Supports and resistances:
1.1910
1.1880
1.1860
1.1846 Last
1.1825
1.1800
1.1770

AUD/USD Intraday: intraday support around 0.7600.


Pivot: 0.7600

Our preference: long positions above 0.7600 with targets at 0.7640 & 0.7660 in extension.

Alternative scenario: below 0.7600 look for further downside with 0.7575 & 0.7555 as targets.

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

Supports and resistances:
0.7680 ***
0.7660 **
0.7640 ***
0.7625 Last
0.7600 ***
0.7575 **
0.7555 ***

Crude Oil‏ (WTI)‏ (F8) Intraday: further upside.


Pivot: 58.15

Our preference: long positions above 58.15 with targets at 59.00 & 59.40 in extension.

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

Comment: the RSI advocates for further advance.

Supports and resistances:
60.00
59.40
59.00
58.61 Last
58.15
57.80
57.30

Gold spot Intraday: bullish bias above 1286.00.


Pivot: 1286.00

Our preference: long positions above 1286.00 with targets at 1297.00 & 1300.00 in extension.

Alternative scenario: below 1286.00 look for further downside with 1279.00 & 1276.00 as targets.

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

Supports and resistances:
1303.50
1300.00
1297.00
1291.00 Last
1286.00
1279.00
1276.00

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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  #97  
Old 27-11-2017, 15:26
FxGrow10's Avatar
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Join Date: May 2015
Location: Cyprus
Posts: 117
Default Re: Daily Market 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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  #98  
Old 07-12-2017, 08:25
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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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  #99  
Old 07-12-2017, 10:28
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FxGrow Daily Technical Analysis – 07th Dec, 2017
By FxGrow Research & Analysis Team

EUR/USD: Downside Action More Likable Ahead of Draghi Speech


EUR/USD has entered the fourth cosolodation session with choppy sideways trading. The pair has failed to stay above 1.1800 (10-EMA) level since Monday and still flirting with 1.1780 support level.

The pair lost traction after reports indicating rough negotiations with the UK and Brexit deal, weighing negatively on the EURO. On the other hand, last weak upbeat U.S data and approval for tax plan is still boosting the U.S dollar with expectations for more upward action as the Dec. rates odds are on the U.S Fed's menu.

Draghi, head of ECB will cross wires today but expectations are high for a neutral stance, no game changer for the EURO currency.

EUR/USD technical overview

Closing price: 1.1797

Target price: 1.1760

Resistance levels: 1.1840+, 1.1870, 1.1900*

Support levels: 1.1760-50, 1.1700-

Trend: Sideways / Down

Trend reversal price: 1.1900

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. A reluctance to extend / stay under 1.1800- cautions for a bounce into congestion near 11840. However, a close over 1.19000* is needed to highlight a reversing upturn form corrections to launch a fresh bull wave near 1.2000+.

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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  #100  
Old 08-12-2017, 08:52
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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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  #101  
Old 12-12-2017, 20:49
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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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  #102  
Old 13-12-2017, 07:51
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FxGrow Daily Technical Analysis – 12th Dec, 2017
By FxGrow Research & Analysis Team

EUR/USD Trading Flat Ahead of Zew Sentiment And U.S PPI


EUR/USD has been trading flat since Monday with low price, 28-pips and 1.1788 high. On technical level, the pair is still sold off with daily downtrend and expectations for further downside action. On the upside, EURO bulls should be contaminated at 10-EMA at 1.1800 level along with yesterday's upper daily wick. The pair could test daily rising trend line at 1.1740 level, and in case EUR/USD closed below it, then further dips are expected.

On the fundamental level, market awaits German Zew sentiment which will be released shortly and expectations that the sentiment could call behind at 17.4. On NY opening sessions, U.S is due to release Producer Price Index which could shake the market a bit as eyes will be focused on Wednesday and Thursday with FOMC and ECB meeting. On the other hand, Draghi will cross wires today, but taking into consideration the ECB event on Thursday, the speech should be neutral without any major effect. As for tomorrow, it is highly anticipated that the U.S Fed will hike rates at 1.50% with 0.25% point basis which should add more pressure on the pair temporary till market take an action for the FOMC statement.

EUR/USD Technical Overview:

Closing price: 1.1769

Target price: None

Resistance levels: 1.1800, 1.1880, 1.1860*

Support levels: 1.1720-1.1709*, 1.1640

Trend: Sideways / Down

Trend reversal price: 1.1860*

Current None 11881, 11910, 11954* 11807-11799*, 11728

Sdwys/Down

Comment: The current slide puts short term trend forces down and warns for a larger unfolding selling wave to 1.1640. Trade is poised for selling and a close under 1.1709* will fuel selloffs. Trade may recover for near term congestion up near 1.1820. However, a close over 1.1860* is needed to highlight a reversing upturn for a bull wave over 1.1920+.

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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  #103  
Old 13-12-2017, 12:09
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FxGrow Daily Technical Analysis – 13th Dec, 2017
By FxGrow Research & Analysis Team

CFDs Technical Overview With a Priced in Hike By the Feds


Most markets are highly anticipating a hike today by the U.S Fed with 0.25% basis to initial 1.25%. Analysts are supporting the rate hike decision especially that Mrs. Yellen has recently stressed out that any future hikes will be subject to economic data. As a result, we have seen the DXY rallying by $1.78 since Nov. 27th, soaring all currency rivals as rates will be increased as a done deal especially recent U.S upbeat data.

Last year when the Fed hiked rates, market saw an opposite performance for the Dollar Index, and instead of further upside action, the DXY was sold off aggressively which leaves us wondering if the same scenario will be repeated as Dιjΰ vu because market anticipated the hike and it was priced in. Now that we have covered this section, eyes will be focused on the FOMC statement and projections for 2018 whether they will drop a hawkish or dovish tone.

Last but not least, yesterday's democrat Jones winning U.S senate in Alabama state has flipped the cards for Trump and his tax plan final touch. Trump will cross wires today giving more hints about so the long awaited tax reform plan. As a result, the U.S dollar stands at two battles, first as FOMC released the statement, and second Trump's tax plan updates.

CFD's Technical overview:

MAR US DOLLAR

Closing price: 93.825

Target price: 93.755 achieved

Resistance levels: 93.755*, 94.01

Support levels: 93.89, 93.17, 92.77*

Trend: Sdwys/Up

trend reversal price: 92.77

Comment The market has worked into a short term bottoming / bullish pattern with rallies pushing beyond the 93755* resistance, giving bull signals for a climb to 9434+. Any near term dips should try to hang in sideways congestion, stabilizing over 9317. A close under 9277* is needed to reverse back to lower prices.

MAR B-POUND

Closing price: 1.3366

Target price: 1.3289

Resistance levels: 1.3441-58, 1.3504*

Support levels: 1.3355, 1.3289*

Trend: Sdwys/Down

Trend reversal price: 1.3504

Comment The market is signaling a short term negative turnover and warns for a larger selling wave to 1.3289*. A sustained press below 1.3355 will fuel selloffs. Any corrections contained to narrow sideways congestion should bear flag into additional selloffs. A close over 1.3504* is needed to reverse back to higher prices.

MAR CANADIAN$

Closing price: (77855)

Target price: None

Resistance levels: 7829, 7869*, 79585*

Support levels: 7760-45, 7672-

Trend: Sdwys/Down

Trend reversal price: 79585

Comment The market still favors reactionary selloffs to test the previous week's low. A penetration below 7758-54 could possibly open up a bear target to 7672-. Any corrections will likely fade in the low 7800's. Only a close over 7869* stops aggressive bear forces. A close over 79585* is needed to mark a bull turn for a drive to 8000+/-.

MAR EURO

Closing price: (1.1821)

target price: None

Resistance levels: 1.1880, 1.1904, 1.1949*

Support levels: 1.1799*, 1.1728

Trend: Sdwys/Down

Trend reversal price: 1.1954

Comment The current slide puts short term trend forces down and warns for a larger unfolding selling wave to 1.1700. Trade is poised for selling and a close under 1.1799* will fuel selloffs. Trade may recover for near term congestion up near 1.1900. However, a close over 1.1949* is needed to highlight a reversing upturn for a bull wave over 1.2000+.

MAR J-YEN

Closing price (88545)

Target price: None

Resistance levels: 88945, 89305*, 8984*

Support levels: 8831-, 87825-

Trend: Down

Trend reversal price: 89865

Comment The market is in a downturn and suggests further washouts to 8831-. A close under 8831 is negative. We may see some corrective congestion, but keeping corrections trapped below 89305* should maintain a bear alignment. Only a close over 8984* alerts for a reversing turn.

MAR SWISS

Closing price: (10156)

Target price: None

Resistance levels: 1.0188, 1.0222, 1.0257*

Support levels: 1.0038-25, 1.0000-

Trend: Sdwys/Down

Trend reversal price: 1.0257

Comment The market is short term bearish and a close under Friday's low alerts for a selling wave to attack the 1.0062 low. Suspect a fight to correct for a few days. Narrow corrective congestion around 1.0200 for a few days will likely bear flag. A close over 1.0257* is needed for a shift back to the upside.

MAR AUSSIE$

Closing price: (7554)

Target price: 7430

Resistance levels: 7579, 7592*

Support levels: 7495-?, 7430-10

Trend: Sdwys/Down

Trend reversal price: 7592

Comment The market is bearish. Despite corrective rebounds the past couple days, the pattern alerts for a potential wash to 7430-. Trade is poised for follow through selloffs with a close under 7498 fueling declines. Any further corrections should struggle with previous congestion levels over 7550 and tight congestion should bear flag. A close over 7592* is needed for a reversing turnaround.

FEB GOLD

Closing price: 1246.40

Target price: 1233

Resistance levels: 1254.00-1256.00, 1260

Support levels: 1233- 1220+

Trend: Down

Trend reversal price: 1265.10

Comment The market is bearish, alerting for an acceleration in the selloff, opening up potential for a drop to 1233. The pattern still warns for pressing selloffs. Any corrections will likely find downside forces keeping trade in sideways congestion, stopped in the upper 1250's. A close over 1265.10* is needed to alert for a reversing turnaround.

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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  #104  
Old 15-12-2017, 04:13
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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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  #105  
Old 15-12-2017, 04:33
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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.
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  #106  
Old 19-12-2017, 12:22
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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.
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  #107  
Old 21-12-2017, 12:41
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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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  #108  
Old 21-12-2017, 12:51
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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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  #109  
Old 21-12-2017, 13:04
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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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  #110  
Old 22-12-2017, 08:36
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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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  #111  
Old 22-12-2017, 09:06
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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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  #112  
Old 28-12-2017, 12:53
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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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  #113  
Old 09-01-2018, 06:00
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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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  #114  
Old 09-01-2018, 06:10
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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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