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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Valdis, post: 69592, member: 30420"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [u][b]19.09.2014[/b][/u] [color=#ff9900][i][b]Fundamental analysis[/b][/i][/color] [i]The euro/dollar recovered a few its losses in yesterday's trading.The EUR/USD came under a wave of sales after the Federal Reserve meeting release. In general, the market participants have not received any surprises - still two FOMC members Plosser and Fisher vote for an earlier monetary policy tightening. All other participants insist on the maintaining low interest rates for an "extended period of time." The inflation forecast still remains moderately negative while the unemployment rate forecast turned into positive direction. The pound/dollar closed the last week gap. The GBP/USD is in demand against the positive employment release. The unemployment fell to the level of 6.2% in the UK, in addition we saw an average wage increase in July, that points to the positive CPI. The pair USD/JPY continued its upward movement. The Bank of Japan gives to speculators a "green light" and we observed the yen devaluation against the negative macroeconomic statistics. The US and the Japan stock market growth increases the dollar/yen demand.[/i] [IMG]http://www.picshare.ru/uploads/140918/MZBihlZg4s.jpg[/IMG] [color=#ff9900][u][b]Technical analysis[/b][/u][/color] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0000cc][b]General overview[/b][/color] The pair is under pressure from the investors’ positive attitude towards the American currency and the European Central Bank easy policy. There was a rebound from the downtrend line 1.2930 against the high volume based on the EUR/USD rates. The trend rebound was followed to the support level 1.2850. Then the pair returned to the level of 1.2030. The price is finding the first support at 1.2850, the next one is at 1.2790. The price is finding the first resistance at 1.2930, the next one is at 1.3000. There is a non-confirmed and a weak 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. The downward movement will be until the price is under the Cloud. The MACD indicator is in a negative territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] We believe the growth will be continued. The first target is the level 1.3000. We do not exclude the fall to 1.2850. [IMG]http://www.picshare.ru/uploads/140919/a6aVv3oyk7.jpg[/IMG] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0000cc][b]General overview[/b][/color] The published statistics showed the unemployment rate decrease by ILO to 6.2% against the expected 6.3%. The most important was the message that two representatives of the Fed committee again offered to raise the interest rates by 0.25% at the last meeting. The corrective pound growth was observed followed by the resistance level of 1.6340 breakthrough. The buyers came up to this level against the increased volumes backdrop. The price is finding the first support at 1.6340, the next one is at 1.6270. The price is finding the resistance at 1.6440. There is a non-confirmed and a weak 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 histogram is in a positive territory. The price is growing. [color=#0033cc][b]Trading recommendations[/b][/color] The potential rebound target is the level of support 1.6100. [IMG]http://www.picshare.ru/uploads/140919/lL82U9I8nb.jpg[/IMG] [/QUOTE]
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