Daily Market Analysis by FxGrow

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Old May 4, 2015, 1:27pm   #1
 
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Daily Market Analysis by FxGrow

Daily Market Analysis – 04th May, 2015
By FxGrow Research & Analysis Team

US ISM Manufacturing PMI at 51.5

The US ISM Manufacturing PMI remained at 51.5, well below market expectations of 52.0 for the month of April.

Activity in the US manufacturing sector showed slow growth in April 2015, while market expectations were for an increase to 52.0

US Construction spending declined by 0.6% in March 2015 while market expectations were for a 0.5% increase.

EURUSD is down from a High of 1.1220 to 1.1141 after Markit Eurozone Manufacturing PMI came out at 52.0 today.

GBPUSD slipped below 1.52 after the UK manufacturing PMI declined to 51.9, down from 54.0 in the preceding month ahead of UK elections on Thursday.

In the Asian trading session China's manufacturing PMI came in at 48.9 for April. Australian dollar is lower at 0.7835, amid expectations of RBA rate cut tomorrow.

Silver continues its consolidation to 16.32 while Gold is lower this morning at 1182.55

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 May 5, 2015, 8:43am   #2
 
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FxGrow Support started this thread Daily Market Analysis – 05th May, 2015
By FxGrow Research & Analysis Team

RBA Cuts Interest Rates to Record Low

Reserve Bank of Australia cut its interest rates by 25 basis points to 2.0%, to provide further stimulus to the economy. Meanwhile Australia's trade balance has stayed in deficit of $1.3B.

AUDUSD rose to 0.7900 following the rate cut, amid speculation that the RBA may be unwilling to cut further.

The Australian dollar has declined against US dollar over the past year, due to the falling commodity prices.

EURUSD is trading lower at 1.1110 ahead Of the European Commission Economic Growth forecast due today.

Greek negotiations continue this week and a deal can be achieved by the Euro group meeting on 11 May, with Greece having to repay €763 million in loans to the IMF.

The U.K. election polls show both major parties Conservatives and Labour as being head-to-head arriving at overall majority is unlikely.

GBPUSD remains under pressure at 1.5105 before polls and uncertain UK election.

Gold rebounded from a 6-week low to 1188.65 after weak Chinese PMI, while Silver is flat this morning at 16.40

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 May 6, 2015, 7:54am   #3
 
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FxGrow Support started this thread Daily Market Analysis – 06th May, 2015
By FxGrow Research & Analysis Team

Kiwi falls after Weak Employment Data

New Zealand Unemployment rate remains flat at 5.8 percent, while Employment growth slowed to 0.7%. Kiwi has been under some pressure after Reserve Bank of New Zealand signaled easing bias last month.

In the Asian trading session NZD/USD fell to 0.7480 after weaker than expected employment data.

In Australia, March retail sales rose less than expected to 0.3%. The Australian dollar gained to 0.7960 after China services PMI climbed to a 4-month high at 52.9

EURUSD is trading higher at 1.1230 ahead Of the Euro-Zone's Retail Sales Data. Greek debt talks with international creditors are making progress but no breakthrough yet.

U.S. trade deficit soared to $51.37 billion in March to its highest level. USD ISM Non-Manufacturing PMI rose to a five-month high of 57.8 in April.

GBPUSD crossed 1.5200 ahead of UK elections tomorrow. UK Construction PMI hits a 22 month low at 54.2

Crude Oil futures surged on NYMEX, WTI to $60 a barrel amid geopolitical tensions in Northern Africa and the Middle East.

Gold is trading higher at 1195.10 after broad decline in the global equity markets, with fresh demands for the safe-haven.

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 May 7, 2015, 7:17am   #4
 
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FxGrow Support started this thread Daily Market Analysis – 07th May, 2015
By FxGrow Research & Analysis Team

German Bund yields lift Euro

German 10-year bond yields reached a four-month high of 0.595 percent lifting the Euro above 1.1340

German Bunds yields are at the highest after European Central Bank announced its intention to launch QE.

EURUSD is trading higher at 1.1343 ahead of the Germany's construction PMI data and the US initial jobless claims data.

UK goes to the polls today and it is still uncertain if we will get a hung Parliament in the UK.

GBPUSD is in the range of 1.5240 and traders expect heavy market volatility ahead of the Elections.

Australia's unemployment rate climbed to 6.2% as expected with a loss of 2.9K jobs. AUDUSD peaked to 0.8000 after the jobs report.

Australian bond yields rose further on Wednesday morning to above 2.8 per cent after the RBA decision.

Crude oil pulled back in Asian trading session, after rallying to new 2015 highs of 62.85 presently at 61.36

Gold is trading lower in the Asian session at 1187.68 while Silver is at 16.45

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 May 8, 2015, 8:40am   #5
 
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FxGrow Support started this thread Daily Market Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

GBP spikes as Exit Polls Predict a Conservative Win in UK

In UK General Elections Exit Polls Predict a Conservative Win and that the Britain’s Prime Minister, David Cameron would retain his power.

GBPUSD spiked 2.1% to cross 1.5430 yesterday and to 1.5500 in the Asian trading session. Apart from the outcome of the UK elections, Britain’s trade data for March coming out today will reflect the health of the UK economy.

EURUSD is trading lower at 1.1198 ahead of Economic Data from Germany and US non-farm payrolls data.

USD Non-farm Payrolls forecast is 228K for the month of April. Meanwhile the ongoing Greek debt negotiations continue to affect the Euro.

The US Dollar bounced off a three-month low on stronger than expected initial jobless claims data.

German industrial production fell last month to an annual rate of -0.5%, from 0.2% in the preceding month, while Germany’s Trade Balance fell to 19.3B, from 20.0B in the preceding month.

The Reserve Bank of Australia cuts GDP Growth Forecast for the Australian economy to 2-3% and expects the Australian dollar to fall further.

Chinese Trade Balance rose to 34.13B, from 3.08B in the preceding month which was less than expected.

Crude oil is down on profit taking amid speculations of a strong NFP. WTI crude oil rose to 61.30 before settling at 58.92

Gold is trading flat in the Asian trading session at 1185.15 while Silver recovers its losses at 16.36

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 May 8, 2015, 9:44am   #6
 
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Daily Technical Analysis by FxGrow

FxGrow Support started this thread Dear Forum Members!

Here you can find Daily Technical Analysis of Major Currencies.

We hope that this information will be helpful for your trading.

Best Regards
FxGrow Support

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Terms used in our Analysis

RSI (14) - Relative strength index 14 days Time frame
MACD (12, 26) - Moving Average Convergence Divergence 12 day EMA - 26 day EMA
EMA - Exponential moving average
ADX (14) - Average Directional Index 14 days
ATR (14) - Average True Range 14 days
SMA - Simple Moving Average
MA x - Moving Average where x is the number of days
STOCH RSI (14) - Stochastic RSI 14 days
William %R - Momentum Indicator
CCI(14) - Commodity Channel Index
ROC - Rate of Change

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Old May 8, 2015, 9:46am   #7
 
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FxGrow Support started this thread Daily Technical Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD could not hold on to its bullish trend and came down on profit taking at 1.1220 Near term bias is bearish but overall scenario remains bullish.

RSI (14), ADX (14) and MACD (12, 26) indicate a SELL while Average True Range (14) indicates Less Volatility.

Support is at 1.1197 while Resistance is at 1.1265, 1.1288 and 1.1391



GBPUSD

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GBPUSD continues its strong bullish momentum crossing 1.5480; the short term bias is bullish within range of 1.5500 to 1.5550, and a correction is expected due to profit taking.

RSI (14), MACD (12, 26) and ADX (14) indicate a BUY while ATR (14) indicates High volatility.

Support is at 1.5303 while Resistance is at 1.5497 and 1.5521



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 May 8, 2015, 9:53am   #8
 
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FxGrow Support started this thread Daily Technical Analysis – 08th May, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD could not hold on to its bullish trend and came down to 0.7900 and remains vulnerable to downside movements with targets of 0.7850 and 0.7800

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

Support is at 0.7862 and 0.7876 while Resistance is at 0.7937 and 0.7975




USDJPY

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USDJPY is higher at 119.90 and the near term bias remains bullish within the range of 120.00 to 120.35, sideways movements are possible in the European trading session.

RSI (14), STOCHRSI (14), ADX (14), CCI (14) and MACD (12, 26) indicate a BUY. STOCH (9, 6) is overbought and ATR (14) indicates less volatility.

Support is at 119.04 while Resistance is at 119.96 and 119.99



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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