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Thread: Daily Technical Analysis by FxGrow

  1. #871
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    FxGrow Daily Technical Analysis – 26th July, 2017
    By FxGrow Research & Analysis Team

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


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

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

    Technical Overview...

    For more in depth Research & Analysis please visit FxGrow.

    Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

    FxGrow
    Growell your Trading

  2. #872
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    FxGrow Daily Technical Analysis – 26th July, 2017
    By FxGrow Research & Analysis Team

    Gold With Three Trend Scenarios Ahead of FOMC Statement


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

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

    The Three Scenarios:

    For more in depth Research & Analysis please visit FxGrow.

    Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

    FxGrow
    Growell your Trading

  3. #873
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    FxGrow Daily Technical Analysis – 03rd August, 2017
    By FxGrow Research & Analysis Team

    Gold Bullish Momentum to Undergo Further Test Ahead of U.S Data


    Gold tripped yesterday after peeking 1272.90 high, showing potential for additional gains especially after releasing a disappointing ADP NFP yesterday. The precious metal couldn't withhold the 70 area and started depreciating gradually closing at 1262.96.

    Today, XAUUSD on Asian opening session collapsed aggressively and plunged to 1256.85 low, but managed to make minor correction, trading above 1260 area at 1262 intraday, still considered bullish to sideways due to coming fundamentals as the U.S releases Unemployment Claims at 12:30 PM GMT, later on ISM Non-Manufacturing PMI at 2:00 PM GMT.

    Fundamentally, Q2 gold demand of 953.4t was 10% lower than 2016, while H1 demand slowed 14% to 2003.8t. Y-o-y comparisons are affected by the record ETF inflows in 2016: demand from this sector slowed dramatically after last year’s H1 surge. Net central bank purchases of 176.7t were also slightly ...

    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.

    FxGrow
    Growell your Trading

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