FxGrow Daily Technical Analysis – 10th Aug, 2016
By FxGrow Research & Analysis Team
EURUSD was bullish yesterday as it crossed the 1.1100 handle and remained strong towards the end of the trading session. Euro is moving in a bullish momentum today and is now trading above its 100day SMA of 1.1109 in the European trading session. The near term bias is Neutral to Bullish with targets of 1.1250
MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCH (9, 6) is Neutral; RSI (14), STOCHRSI (14) are Overbought; while Average True Range (14) indicates High Volatility.
Support is at 1.1135 while Resistance is at 1.1151 and 1.1180
10th Aug 2016 – 10:04AM (UTC)
GBPUSD was bearish yesterday as it came down below 1.3000 handle and touched a low of 1.2960 remaining weak towards the end of the trading session. Cable is moving in a bullish tone having touched an intraday high of 1.3089 and is now trading below its 100day SMA of 1.3070 in the European trading session. The near term bias is Neutral to Bullish with targets of 1.3100
RSI (14), STOCHRSI (14), MACD (12, 26), ADX (14), ROC indicate a BUY; CCI (14) is Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 1.3022 while Resistance is at 1.3066 and 1.3088
10th Aug 2016 – 10:10AM (UTC)
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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.