Daily Market Analysis by FxGrow

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Old Jun 23, 2015, 9:25am   #31
 
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FxGrow Support started this thread Daily Technical Analysis – 23rd June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was lower yesterday and remained weak towards the end of the trading session. Now the pair is trading just near its 20day moving average of 0.7730 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7680

RSI (14) is Neutral; STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7712 while Resistance is at 0.7760

23rd June 2015 – 07:51hrs GMT


USDJPY

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USDJPY was lower yesterday and bottomed at 122.55 but then corrected upwards at the end of the trading session. Now it is trading above its 20day moving average of 122.44 in the European trading session. The near term bias remains Neutral to Bullish with targets of 124.10

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 123.32 while Resistance is at 123.75

23rd June 2015 – 07:56hrs GMT

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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Old Jun 23, 2015, 11:50am   #32
 
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By FxGrow Research & Analysis Team

Eurozone leaders hopeful of deal in next 48 hours

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Eurozone leaders have welcomed new proposals for Greek reforms with hopes that a deal can be struck within 48hrs to avoid a Greek default and keep it in the Euro.

Eurozone leaders held an emergency summit in Brussels where they discussed the New Greek proposal which made a significant concession on pension cuts. They said the new proposal looks promising and a deal could be reached in the coming days.

"I am convinced that we will come to a final agreement in the course of this week" - European Commission President Jean-Claude Juncker.

"We have a huge amount of work to do in the next 48 hours. We are not at all at the end of the route" - IMF chief Christine Lagarde.

"The proposals offered by Greece today constitute some progress. However, it became clear during our discussions that there is a lot of work to be done and time is short." - German Chancellor Angela Merkel

“In the case of a wide-ranging and complex event like a Greek default, we fear that market players may not know what they do not know about systemic consequences. Things may break that we do not expect to fail, they may fracture in unexpected ways, and linkages that we never suspected may become both apparent and important" - Carl Weinberg, High Frequency Economics.

"Several thousand pro-European Greeks staged a demonstration in favor of staying in the euro on Monday in central Athens, a day after thousands of leftists had rallied to protest against a new round of cuts" - Reuters.

In Euro zone Purchasing Manager's Index rose to 54.1 for the month of May. In Germany PMI came in at 54 and France PMI was at 53.4

In China HSBC-Markit manufacturing PMI rose to 49.6 for the month of May indicating that business activity contracted for the month.

In New Zealand consumer confidence declined to a 2 year low in the second quarter of the year. The Consumer Confidence Index slid to 113 in the Q2 of the year mainly due to falling diary prices.

Crude Oil is trading lower at $60.19 ahead of the weekly report on US stock of Crude and refined products.

Gold is trading lower in the Europe at 1183.33, while Silver is weak at 15.99

23rd June 2015 – 10:24hrs GMT

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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Old Jun 24, 2015, 9:30am   #33
 
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FxGrow Support started this thread Daily Technical Analysis – 24th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD went lower yesterday and touched a low of 1.1134 remaining weak towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.1176 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1250

RSI (14) is Neutral; STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC, indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1134 while Resistance is at 1.1288

24th June 2015 – 07:25hrs GMT


GBPUSD

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GBPUSD was lower yesterday touching a low of 1.5708 remaining weak towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5740 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5840

RSI (14), ADX (14), Ultimate Oscillator, ROC, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.5707 while Resistance is at 1.5834

24th June 2015 – 07:31hrs GMT

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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Old Jun 24, 2015, 9:36am   #34
 
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FxGrow Support started this thread Daily Technical Analysis – 24th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was lower yesterday and touched a low of 0.7678 but then it corrected upwards towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7729 in the European trading session. The near term bias remains Neutral.

RSI (14), ADX (14), CCI (14) are Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 0.7678 while Resistance is at 0.7757

24th June 2015 – 07:52hrs GMT


USDJPY

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USDJPY was higher yesterday and peaked at 124.17 but then it corrected lower towards the end of the trading session. Now it is trading above its 20day moving average of 123.93 in the European trading session. The near term bias remains Neutral to Bullish with targets of 124.50

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 123.85 while Resistance is at 124.18

24th June 2015 – 07:59hrs GMT

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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Old Jun 24, 2015, 11:17am   #35
 
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FxGrow Support started this thread Daily Market Analysis – 24th June, 2015
By FxGrow Research & Analysis Team

Markets Focus on Greek Debt Deal

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Greece's PM Alexis Tsipras is in Brussels for crucial talks with its European creditors after it submitted a new proposal to avoid a default and remain part of the Euro.

Greek PM will be meeting Christine Lagarde - head of International Monetary Fund, Mario Draghi - president of European Central Bank, Jeroen Dijsselbloem - Dutch finance minister over issues of tax rises and spending cuts so that he can secure the much needed bailout funds for his country.

Eurozone finance ministers are meeting in Brussels today to discuss the new proposal submitted by the Greece. If the proposal is accepted Greece will get its €7.2bn financial aid and will be able to meet its payment of €1.6bn by June 30.

The funds that are being withdrawn from the Greek banks are in the range of €1 billion a day as investors are worried about a Greek default and the possibility of the Drachma coming back into the nation.

The IMF is unlikely to get back all its money on time as the Greek's long term debt sustainability is in question and whether or not the country will be fully able to recover from its financial problems.

The German chancellor, Angela Merkel is under pressure to hold on the 19 nations that form a part of the Eurozone. The chances are that a deal will be struck and give Greece a relief time but the problems in the Euro are far from over.

“The Euro group has urged the institutions to work closely together with the Greek authorities to start immediately to go into the proposals, getting all the specifics and doing the calculations on them … and all of these with a view if possible to reach an agreement later this week, using the Greek proposals as basis for that” - Euro group President Jeroen Dijsselbloem.

In Germany Business confidence fell for the month of June. The IFO Business climate Index dropped to 107.4 on concerns over slow growth.

Bank of Japan board members are concerned about weak consumer price gains in Tokyo. BOJ is most likely to reach its target of 2% Inflation in the first half of 2016.

"Exports had shown signs of a pick-up on the back of improvement in external demand and of the effects of the euro's depreciation. Corporate results had been improving, partly due to the depreciation of the euro, and business sentiment had also shown movements toward a pick-up" - Bank of Japan minutes.

In US Core Durable Goods Orders rose by 0.5% in May, while total orders for durable goods plunged by 1.8% for the month of May.

Crude Oil is trading higher at $61.57 on expectations for a weekly decline in US crude supplies.

Gold is trading lower in the Europe at 1179.51, while Silver is weak at 15.91

24th June 2015 – 10:00hrs GMT

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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Old Jun 25, 2015, 7:43am   #36
 
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FxGrow Support started this thread Daily Technical Analysis – 25th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD was indecisive yesterday and remained neutral towards the end of the trading session. Now the pair is trading just near its 20day moving average of 1.1201 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1150

RSI (14), CCI (14) are Neutral; ADX (14), Ultimate Oscillator, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.1188 while Resistance is at 1.1216

25th June 2015 – 06:06hrs GMT


GBPUSD

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GBPUSD was indecisive yesterday remaining weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5706 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5650

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), MA100 indicate a SELL; ADX (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1.5665 while Resistance is at 1.5801

25th June 2015 – 06:10hrs GMT

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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Old Jun 25, 2015, 7:48am   #37
 
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FxGrow Support started this thread Daily Technical Analysis – 25th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was lower yesterday and touched a low of 0.7683 but then it corrected upwards towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7717 in the European trading session. The near term bias remains Bullish with targets of 0.7800

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 0.7718 while Resistance is at 0.7760

25th June 2015 – 06:13hrs GMT


USDJPY

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USDJPY was higher yesterday and peaked at 124.35 but then it corrected lower towards the end of the trading session. Now it is trading below its 20day moving average of 123.88 in the European trading session. The near term bias remains Bearish with targets of 123.00

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 123.59 while Resistance is at 124.37

25th June 2015 – 06:17hrs GMT

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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Old Jun 25, 2015, 9:15am   #38
 
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FxGrow Support started this thread Daily Market Analysis – 25th June, 2015
By FxGrow Research & Analysis Team

Markets run out of steam as Greek talks stall again

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European stock markets closed lower on Wednesday after Alexis Tsipras, Greece’s prime minister, failed to reach a deal with its creditors in Brussels to secure the much needed €7.2bn bailout funds.

FTSE, DAX, CAC40, IBEX35 all ended the day in red as a Greek official told reporters that the governments proposed measures had not been accepted by its international creditors.

Greece and its European creditors now have less than four hours to reach some agreement, before Eurozone finance ministers resume their own meeting today.

If Greece will fall out of the Eurozone, German Chancellor Angela Merkel would suffer the blow. As the de facto leader of the European Union she is responsible for deciding whether the cost of 240 billion euros is justified for keeping Greece in the Eurozone.

“The chancellor is completely aware of the situation and the consequences, both politically speaking and economically speaking, of a Grexit. I think the Germans now will push with us to find a compromise in the coming days if the Greeks decide to accelerate and work for a credible package" - Emmanuel Macron, French economy minister.

Greece's ruling party has condemned the latest proposals from its European creditors as being blackmail over a bailout deal.

"The lenders' demand to bring annihilating measures back to the table shows that the blackmail against Greece is reaching a climax." - Syriza party's spokesman.

"There's a sense Greek negotiations will extend through the end of the month and markets appear to believe there'll eventually be an accord. An agreement may spur buying momentarily, but the euro will probably be sold as focus shifts to the dollar" - Yasuhiro Kaizaki, Sumitomo Mitsui Trust Bank.

"The previously unsuccessful attempts to find a solution to the debt crisis in Greece as well as the country's impending default now appear to be dampening German consumers' economic outlook, this raises doubts in consumers' minds, because the consequences of Greece's departure cannot be predicted at the moment" - GfK market research group.

In Germany Business Confidence hit a 4 month low in June. The Business climate Index declined to 107.4 according to the German research institute.

In US the economy contracted in the Q1 due to bad weather, a strong US dollar as US GDP declined to 0.2% annualized rate according to the Commerce Department.

Crude Oil is trading lower at $60.28 after a report showed weekly drop in US crude stockpiles.

Gold is trading lower in the Europe at 1175.81, while Silver is weak at 15.86

25th June 2015 – 08:00hrs GMT

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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Old Jun 26, 2015, 9:20am   #39
 
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FxGrow Support started this thread Daily Technical Analysis – 26th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD was indecisive yesterday and remained neutral towards the end of the trading session. Now the pair is trading just near its 20day moving average of 1.1197 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1250 to 1.1300

RSI (14), ADX (14), CCI (14) are Neutral; Ultimate Oscillator, Williams %R, MA50 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 1.1188 while Resistance is at 1.1230

26th June 2015 – 07:45hrs GMT


GBPUSD

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GBPUSD was indecisive yesterday but then corrected upwards towards the end of the trading session. Now the pair is trading just above its 20day moving average of 1.5741 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5800

RSI (14), STOCH (9, 6), STOCHRSI (14), MACD (12, 26), Ultimate Oscillator, ROC indicate a BUY; while Average True Range (14) indicates Less Volatility.

Support is at 1.5708 while Resistance is at 1.5769

26th June 2015 – 07:49hrs GMT

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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Old Jun 26, 2015, 9:23am   #40
 
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FxGrow Support started this thread Daily Technical Analysis – 26th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD was moderately higher yesterday and remained flat towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7730 in the European trading session. The near term bias remains Bearish with targets of 0.7600

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 0.7694 while Resistance is at 0.7734

26th June 2015 – 07:52hrs GMT


USDJPY

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USDJPY was moderately weaker yesterday and remained flat towards the end of the trading session. Now it is trading below its 20day moving average of 123.53 in the European trading session. The near term bias remains Bearish with targets of 122.50

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 123.30 while Resistance is at 123.65

26th June 2015 – 07:55hrs GMT

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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Old Jun 26, 2015, 10:56am   #41
 
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FxGrow Support started this thread Daily Market Analysis – 26th June, 2015
By FxGrow Research & Analysis Team

Greek crisis extends into weekend before Sunday's Final Deadline

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Greece was unable to close a deal with its European creditors on Thursday, as the crisis extends into weekend before the final deadline on Sunday to avoid a default.

Euro zone finance ministers finished their third round of meeting in a week without an agreement as Greek Prime Minister Alexis Tsipras tries to convince its European creditors and secure the much needed bailout funds for his country.

"The institutions informed us that on a number of issues there is still a wide gap with the Greek authorities. In the meantime, the door is still open for the Greek authorities to accept the proposals tabled by the institutions" - Euro group chairman Jeroen Dijsselbloem.

"The climate is that either by Saturday Greece accepts or on Saturday there will be a discussion about Plan B" - Euro zone official.

"The institutions are going to look again at the two documents - our documents and their own. There will be discussions with the Greek government and we'll continue until we find a solution” - Greek Finance Minister Yanis Varoufakis.

"Certain institutions insist in not accepting equivalent measures suggested by the Greek government. The non-acceptance of equivalent measures has never happened before. Neither in Ireland nor in Portugal." - Greek Prime Minister Alexis Tsipras.

Greek's International creditors have rejected the government's plan to end its financial crisis, but they have submitted counterproposals. Time is running out and strong measures would be needed to avoid a default and prevent Greek banks from collapsing thereby limiting any market contagion to other euro area countries.

The new proposal submitted by Greece aims to make €8bn in savings, by new taxes on the wealthy and businesses, VAT increases and a cut in defense spending. But in counter-proposals its European creditors have called for further measures on pensions, higher value added tax for restaurants, and for defense expenditure to be slashed by € 400 million.

"I want to stress that it's not just a matter of Greece, it's a matter of the future of Europe. What's happening now in Greece is going to happen tomorrow in other countries" - Dimmitris Kammenos.

“Without a substantial form of debt relief, which looks unlikely in an initial agreement, Greece’s debt ratio will remain unsustainably high and the crisis will continue.” - Jonathan Loynes, Capital Economics.

In Germany GfK consumer sentiment index declined to 10.1 going into July following a decline in German business morale in June. GfK said that Greece's default and exit from the currency bloc, which had seemed a remote possibility, now appears to be quite realistic.

New Zealand logged a Trade surplus of NZ$350 million for the month of May far surpassing analysts’ expectations. The Reserve Bank of New Zealand is unhappy with New Zealand Dollar' strength as the Kiwi Dollar slid to the lowest level in five years versus the US Dollar.

In UK Retail sales growth slowed for the month of June. The British retail sales balance dropped to +29 this month, down from +51 in May.

In US Initial Jobless Claims rose to 271K last week according to the US Department of Labor.

Crude Oil is trading lower at $59.58 as trader’s eye Greece debt talks.

Gold is trading lower in the Europe at 1173.53, while Silver is weak at 15.83

26th June 2015 – 09:39hrs GMT

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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Old Jun 29, 2015, 9:23am   #42
 
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FxGrow Support started this thread Daily Technical Analysis – 29th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD has opened this week with a gap of 200 pips touching a low of 1.0953 in the Asian trading session. Now the pair is trading just near its 20day moving average of 1.1083 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1000

RSI (14), STOCH (9, 6), ADX (14), CCI (14) are Neutral; MACD (12, 26), ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates High Volatility.

Support is at 1.1048 while Resistance is at 1.1150

29th June 2015 – 07:40hrs GMT


GBPUSD

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GBPUSD opened the week lower touching a low of 1.5661 in the Asian trading session. Now the pair is trading just below its 20day moving average of 1.5721 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5650

RSI (14), ADX (14), CCI (14) are Neutral; MACD (12, 26), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 1.5672 while Resistance is at 1.5769

29th June 2015 – 07:45hrs GMT

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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Old Jun 29, 2015, 9:27am   #43
 
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FxGrow Support started this thread Daily Technical Analysis – 29th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD opened the week lower touching a low of 0.7585 in the Asian trading session. Now the pair is trading just below its 20day moving average of 0.7645 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7600

RSI (14), MACD (12, 26), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; CCI (14) is Neutral; while Average True Range (14) indicates High Volatility.

Support is at 0.7625 while Resistance is at 0.7712

29th June 2015 – 07:49hrs GMT


USDJPY

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USDJPY has opened the week lower touching a low of 122.09 in the Asian trading session. Now it is trading below its 20day moving average of 123.28 in the European trading session. The near term bias remains Neutral to Bearish with targets of 122.00

STOCH (9, 6), STOCHRSI (14), CCI (14) are Neutral; RSI (14), MACD (12, 26), ADX (14), ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 122.46 while Resistance is at 123.20

29th June 2015 – 07:54hrs GMT

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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Old Jun 29, 2015, 12:16pm   #44
 
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FxGrow Support started this thread Daily Market Analysis – 29th June, 2015
By FxGrow Research & Analysis Team

Greece Crisis Intensifies as Global Stock Markets Slide

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Greece debt crisis has intensified after the European Central Bank decided not to extend emergency funding. Greek Prime Minister Alexis Tsipras has announced a referendum to vote on whether to accept the bailout measures offered by its European creditors on July5.

Greek Banks have been closed and capital controls have been imposed to prevent financial chaos following the breakdown of talks with its European creditors.

Stock markets in Europe and Asia witnessed falls with London's FTSE 100 index down by nearly 2%. In Asia Japan's Nikkei fell nearly 3% in the early trading session.

Euro opened with a gap of more than 200 pips touching a low of 1.0953 in the early Asian trading session.

Bond yields for Italy, Spain and Portugal rose sharply, while German bond yields fell in the time of crisis.

In Greece Banks will remain closed till 6th of July and cash withdrawals are limited to €60 in a day. The Athens stock exchange will also remain closed.

“Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment programme for Greece, the governing council declared it will work closely with the Bank of Greece to maintain financial stability” - ECB.

“We continue to work closely with the Bank of Greece and we strongly endorse the commitment of member states in pledging to take action to address the fragilities of euro area economies” - ECB President, Mario Draghi.

"While the imposed restrictive measures appear necessary and proportionate at this time, the free movement of capital will however need to be reinstated as soon as possible in the interest of the Greek economy, the Eurozone, and the European Union's single market as a whole" - European Commission.

After the failure of the debt talks on Friday and the decision of the European Central Bank to freeze emergency loans for Greek banks has led to capital controls. This has increased the risks of a Greek exit from the Euro in the coming times.

After the Eurozone finance ministers on Saturday turned down a request for an extension of the Tuesday payment to the IMF Grexit is possible. “Grexit” is short for the possibility of Greece exiting the European Union and moving away from the Euro.

Crude Oil is trading lower at $58.37 on Greek default concerns.

Gold is trading lower in the Europe at 1177.22, while Silver is weak at 15.81

29th June 2015 – 11:00hrs GMT

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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Old Jun 30, 2015, 9:36am   #45
 
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FxGrow Support started this thread Daily Technical Analysis – 30th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD was bullish yesterday and touched a high of 1.1277 but then it corrected lower towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1196 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1100

RSI (14) is Neutral; STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.1134 while Resistance is at 1.1288

30th June 2015 – 07:23hrs GMT


GBPUSD

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GBPUSD was indecisive yesterday as it touched a low of 1.5661 and then moved upwards to touch a high of 1.5778 but corrected lower towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5731 in the European trading session. The near term bias remains Bearish with targets of 1.5650

RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; while Average True Range (14) indicates Less Volatility.

Support is at 1.5708 while Resistance is at 1.5787

30th June 2015 – 07:28hrs GMT

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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