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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Valdis, post: 69711, member: 30420"] [u][b][color=#00cc00]"Fort Financial Services"- fundamental and technical analysis[/color][/b][/u] [u][b]22.09.2014[/b][/u] [color=#ff9900][i][b]Fundamental analysis[/b][/i][/color] [i]The EUR/USD was in demand against the published US negative macroeconomic statistics last week. The construction sector releases - the issued building permits volume and the new installation foundations number do not meet the forecasted median, despite the positive leading indicators growth. The Fed Chairman Janet Yellen points out that the US real estate sector is still experiencing some difficulties. Even the initial jobless claims decrease to the level of 280K was ignored by the market participants. The GBP/USD has shown an upward trend awaiting the Scotland referendum failure. Many traders decided to fix their short positions on the British currency against its major competitors expecting that the Scotland residents will reject the separation from the United Kingdom. Against this background the “cable" growth was observed along the entire market. Nevertheless, the pair fell again. The USD/JPY is achieving the higher results, despite the published Japan positive macroeconomic statistics and the US negative releases. The Japan Trade Balance showed the August negative balance reduction, but again we did not see the exports growth last month. Against this background, the pair dollar/yen quotes dropped to the level of 108.37, after that the bulls returned to the market and began to open "longs". The consolidation was observed after the weak reports publication on the US construction sector that only confirms the strong bullish trend.[/i] [IMG]http://www.picshare.ru/uploads/140921/OQEYpiR2T1.jpg[/IMG] [color=#ff9900][u][b]Technical analysis[/b][/u][/color] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0033cc][b]General overview[/b][/color] For the euro, as well as for most major USD pairs, the last week ended with the correction increase. The buyers are able to return back to the price for the level of 1.2930, which was break through against the high volume. The price correction growth was not supported by the trade volumes. Apparently, the level of 1.2930 retest led to the price downward bounce. The price is finding the first support at 1.2790, the next one is at 1.2730. The price is finding the first resistance at 1.2850, the next one is at 1.2930. There is a confirmed and a 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 Cloud is descending. The MACD indicator is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] The downward bounce potential targets are 1.2790 and 1.2730. [IMG]http://www.picshare.ru/uploads/140921/f4C9i0xUBE.jpg[/IMG] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0033cc][b]General overview[/b][/color] The pound fell at the end of last week trading. Before this the pound rose to the two-week high against the US dollar and the two-year euro rise occurred due to the Scottish independence referendum preliminary results which showed that the Scots majority voted against the separation. The British pound is recovering after a two-month price decline. This time the buyers could to break above the resistance level and the downward trend line of 1.6440. The breakthrough occurred on the increased volume. At the end of the trading the pair decreased below the level of 1.6340. The price is finding the first support at 1.6270, the next one is at 1.6180. The price is finding the first resistance at 1.6340, the next one is at 1.6440. There is a confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal 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=#0000cc][b]Trading recommendations[/b][/color] We suppose the pair will go to 1.6340 first. Having overcome the first target the price might go upwards to 1.6440. [IMG]http://www.picshare.ru/uploads/140921/FRc0qIngvH.jpg[/IMG] [/QUOTE]
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