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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 66485, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis [/b][/u][/color] [u][b]28.07.2014[/b][/u] [color=#ff3300][b]Technical analysis[/b][/color] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0033cc][b]Overview[/b][/color] The single European currency has shown a resistance to pressure from the dollar and could strengthen against its other major opponents. On the week the euro gave the growth to the pound and the yen, but closed almost at the opening prices with greenback. The grown up interest in the single currency was due to an unexpectedly strong data on the activity in the Eurozone economy and its leading countries. The last week trading on the euro/dollar went below the intermediate resistance level 1.3480. The short-term level break which occurred was false. The price returned beyond the level, continuing to trade in the direction of the downward trend. The price is finding the support at 1.3420, the next one is at 1.3360. 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=#0033cc][b]Trading recommendations[/b][/color] The approach to the level of 1.3480 may lead to the price rebound down. The potential rebound target is the support level of 1.3360. [img]http://www.picshare.ru/uploads/140728/8w1myjhOjE.jpg[/img] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0033cc][b]Overview[/b][/color] The British pound was a less attractive asset and having continued its decrease against the dollar and other majors last week. The negative sentiment was caused by the BoE minutes and the UK retail sales in June. The pound has been in the downward trend for more than one week. The strong support level of 1.7000 breakthrough in the long term opened the way to the level of 1.6950 which has not been worked out yet. The price is finding the first support at 1.6950, the next one is at 1.6900. The price is finding the first resistance at 1.7000, the next one is at 1.7050. 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. The downward movement will be until the price is under the Cloud. The MACD histogram is in a negative territory. The price is decreasing. [color=#0033cc][b]Trading recommendations[/b][/color] We expect the level of 101.60 testing soon. The potential decrease target is the level of support 1.6900. [img]http://www.picshare.ru/uploads/140728/CAFCiN3H37.jpg[/img] [color=#00cc00][b]Yen (JPY)[/b][/color] [color=#0033cc][b]Overview[/b][/color] The yen also fell against the dollar last week. The yen strengthening amid the Japanese stock market fall in the Asian session was interrupted on the European session. The dollars buying impulse for the yen was given by the U.S. economic data indicated the labor market good trend and the renewed decrease in the U.S. "Treasuries" yields. The break of 101.60 resistance enabled the buyers to revise the dollar upward to the next level, located at around of 102.23. The price is finding the first support at 101.60, the next one is at 101.00. The price is finding the first resistance at 102.23, the next one is at 102.70. There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden cross”. The up ward movement will be until the price is above the Cloud. The MACD indicator is in a positive territory. The price is going up. [color=#0033cc][b]Trading recommendations[/b][/color] Currently, the price is trading above the resistance level 101.60 which has already become the support. The approach to 102.23 may lead to the price rebound down. The potential rebound targets are the level of support 101.60, 101.00. [img]http://www.picshare.ru/uploads/140728/13Fo9s0U7Z.jpg[/img] [color=#00cc00][b]Franc (CHF)[/b][/color] [color=#0033cc][b]Overview[/b][/color] The U.S. dollar maintained its position against the franc. The dollar gained a support after the data published last week and showed that the initial jobless claims in the U.S. fell to the lowest level in more than eight years on last week. The price is finding the first support at 0.9035, the next one is at 0.9000. The price is finding the resistance at 0.9060, the next one is at 0.9090. There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud. The MACD indicator is in a positive territory. The price is growing. [color=#0033cc][b]Trading recommendations[/b][/color] We advise to long with the first target - 0.9060. When the pair consolidates below the first target, we can open deals to the level of 0.9090. [img]http://www.picshare.ru/uploads/140728/Ujf3Z153ua.jpg[/img] [/QUOTE]
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