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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 66301, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis [/b][/u][/color] [u][b]23.07.2014[/b][/u] [color=#ff6600][i][b]Fundamental analysis[/b][/i][/color] [i]The major pairs held the narrow ranges against the backdrop of an empty macroeconomic calendar at the trading week beginning. All the week important events are still ahead so the market participants took a wait. The EUR/USD consolidated near the support level of 1.3512, which indicates a positions set by the institutional investors before a further bearish trend. The national activity index, calculated by the Chicago Fed, attracts the market participants’ interest. However, it doesn’t provide the events course influence. So this time, the index growth slowing in June to 0.12 against 0.16 in May and 0.18 forecast did not impact the investor sentiment. The German PPI slowed the fall and issued in June -0.7% y/y after -0.8% y/y. The Italian industrial orders collapsed in May by 2.5% y/y growth in April to 6.2% y/y. The monthly report announced the German economy problems as the Bundesbank pointed to a stop in GDP growth in the 2nd quarter. The British pound has tested the support level of 1.7058, the bulls managed to repel the attack, which confirms our view that the market participants will buy the strong GBP/USD decrease, based on the medium-term uptrend continuation. After the quotes dropped to the level of 101.06 - the Japanese exporters came to the market which opened the long positions opposing the national currency strengthening.[/i] [img]http://www.picshare.ru/uploads/140723/7W5JRBk9AC.jpg[/img] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0066cc][b]Overview[/b][/color] The Euro remains under the external events influence, and the given fact that the news background isn’t different in the "killed" information content in the other regions, we can assume the range trading continuation. The EUR/USD consolidated above the strong support level of 1.3520. Then the pair fell to the level of 1.3480 and tested it. The price is finding the support at 1.3450. The price is finding the first resistance at 1.3480, the next one is at 1.3520. There is a confirmed and strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud. The MACD indicator is in a negative territory. The price is decreasing. [color=#0066cc][b]Trading recommendations[/b][/color] We expect another retest which will be followed by the price bounce upwards. The potential bounce targets are 1.3520, 1.3570. [img]http://www.picshare.ru/uploads/140723/781RlH7WI0.jpg[/img][/URL] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0066cc][b]Overview[/b][/color] The general market sentiment spreads its influence on the pound/dollar which closed the trading close to the opening prices against the dollar after the consolidation in a narrow side corridor. We suppose to see the public sector borrowing continued growth in June to 10.5 billion, after 13.3 billion pounds previously. The large loans and the lower orders could add some pressure to the pound in the current circumstances, in the absence of any support risk appetite with the reason for caution in the increasing geopolitical exacerbations view. The GBP/USD downward trend was stopped at the support level of 1.7050. The price is finding the first support at 1.7050, the next one is at 1.7000. The price is finding the first resistance at 1.7115, the next one is at 1.7160. There is a confirmed and strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead cross”. The downward movement will be until the price is under the Cloud. The MACD histogram is in a negative territory. The price is consolidating. [color=#0066cc][b]Trading recommendations[/b][/color] The third level retest can cause the price bounce to the range of 1.7100 - 1.7110. [img]http://www.picshare.ru/uploads/140723/m1nY4Ij3eL.jpg[/img] [url=https://www.fortfs.com/][img]https://static.fortfs.com/images/bnrs/en_trade_468x60.gif[/img][/url] [/QUOTE]
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