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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 66322, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis [/b][/u][/color] [u][b]24.07.2014[/b][/u] [color=#ff6600][i][b]Fundamental analysis[/b][/i][/color] [i]The dollar continued to strengthen against its major rivals. The DXY dollar index finished trading at around 80.78. The pair EUR/USD was bearish against the positive macroeconomic statistics from the United States publication. The June inflation showed a growth to the level of 2.1% year on year and it shows the growth to the Fed target level for three months in a row. This release only inflames the debates on the earlier interest rates increase by the FOMC which will support the dollar. The GBP/USD will be under the pressure and the only thing that can cheer up the "bulls" is the strong report from the CBI industrial orders in July. However, this release came out much worse than consensus-forecast and after the USA inflation data we can see the pound sales. Only the pair cross-course restrained the "bears" pressure and did not allow the pound to test the psychological level of 1.7000. The positive macroeconomic statistics on the inflation and the real estate market in the United States in conjunction with the price increase on the world markets stocks maintained the USD/JPY demand. However, after the European foreign exchange market participant's departure the bullish enthusiasm began to fade as we observed profit-taking on the long positions.[/i] [IMG]http://www.picshare.ru/uploads/140724/7aWJ6igCRq.jpg[/IMG] [color=#ff6600][b]Technical analysis[/b][/color] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0033cc][b]General Overview[/b][/color] The euro was the most vulnerable instrument and fell. The euro was pressured by the mood prevailing on the further easing expectations in the ECB policy and the understanding that the European economy is exposed to the greater risks due to the events in Ukraine. The sellers have not stopped at the support level of 1.3520. The price’s continued consolidation has led to the downward trend continuation. Besides the trading volumes actively support the euro decrease against the U.S. dollar. The price is finding the support at 1.3420. 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 consolidating. [color=#0066cc][b]Trading recommendation[/b][/color] The downward movement will be continued. The pair may go to 1.3420 soon. [IMG]http://www.picshare.ru/uploads/140724/vvTodr9P6D.jpg[/IMG] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0066cc][b]General Overview[/b][/color] The pound left a narrow. Obviously, the market wasn’t in a hurry to take a decision on the pair, expecting information from the BoE last meeting minutes which can show - the power balance change among the Monetary Committee members on the policy tightening issue. The third retest of the support level of 1.7050 for the past three days shows the sellers’ great interest to continue the downward trend. However, the upward trend is still relevant due to the fact that the retest was followed by permanent bounces up. The price is finding the first support at 1.7000, the next one is at 1.6950. The price is finding the first resistance at 1.7050, the next one is at 1.7115. 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 downward 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 going down. [color=#0066cc][b]Trading recommendation[/b][/color] The potential growth target is the resistance level of 1.7115. [IMG]http://www.picshare.ru/uploads/140724/ylGPJ26H48.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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