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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 86387, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]14.07.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The uncertainty around Greece was all last week. EU summit and the Eurogroup meeting continued almost all weekend, but the specific outcome appeared only on Monday. Greece had to compromise and now the parliament must approve the reforms package in exchange for a bailout from the European Union. The EUR/USD increased amid the positive "the Greek issue" expectations last week. The Greek government has announced that it is ready to offer a new anti-crisis plan which creditors should make." After the agreement with Greek has been reached, the European currency declined sharply. The pair GBP/USD enjoyed a certain demand. The British currency was supported after the May UK trade balance release. However, the pound decreased amid the dollar’s strengthening. There was a "bullish" sentiment with the USD/JPY. This is not surprising as the global stock markets perked up after the positive news about the "Greek debt" situation. As a result we had the demand for risky assets.[/i] [img]http://savepic.ru/7569195.jpg[/img] [color=#ff6600][i][b]Technical analysis[/b][/i][/color] [color=#00cc00][u][b]Euro (EUR)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] Currency market wins back the creditors’ “Greek debt” decision. Despite the various differences between the parties were still able to reach a consensus, which is a positive factor for the euro. There has been a moderate price increase. The upward trend was also observed on the European stock market as the financial risks were mitigated. However, after it became known that Greece has made concessions to the creditors the pair sharply declined There was the resistance of 1.1050 breakthrough last week. The breakthrough came in the second times and allowed buyers to deploy a downward trend upward. Also they tested the strong resistance level of 1.1150. The price rebounded downwards from this level and broke down the support level of 1.1050. The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150. There is a non-confirmed and a weak sell signal. The price is on the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement. The downward movement will be until the price is under the Cloud. The MACD indicator is in a positive territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] The upward bounce potential target are 1.1050, 1.1150. [img]http://savepic.su/5789385.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The last week the May UK positive trade balance release allow us to count on the economic growth acceleration in the second quarter which may support the demand for the British currency. Britain and the United States did not publish important macroeconomic statistics. In this regard, attention should be paid to the debt market dynamics. The three-day upward correction having formed from the support level of 1.5390 enabled buyers to break the level of 1.5550. There was a price rebound downwards from this level. The price is finding the first support at 1.5460, the next one is 1.5390. The price is finding the first resistance at 1.5550, the next one is 1.5670. 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 shows an upward movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud. The MACD histogram is in a neutral territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] We expect the 1.5550 line break that will open the way for the buyers to 1.5670, further then towards 1.5775. [img]http://savepic.ru/7538475.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The course of trading is determined by the world's leading stock exchanges mood. The positive decision of the Greek problem increased the demand for risk and in this regard the upward trend will be continued. Institutional investors continue to increase transactions on operations carry trade where the Japanese yen is a funding currency. The price has been correcting to 123.50 for the fourth time in the past six weeks, acting as a resistance. The mark of 123.50 test is occurred on the reduced volume. The price is finding the first support at 122.40, the next one is at 121.60. The price is finding the first resistance at 123.50, the next one is at 124.30. There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a downward movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud. The MACD indicator is in a positive territory. The price is consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] The pair can grow to the resistance level of 123.50. After breaking 123.50 the buyers may go to 124.30. [img]http://savepic.su/5827272.jpg[/img] [i][b]*Analytical review is presented by the leading analyst of the broker Fort Financial Services, [color=#0099cc]Alexander Kofman.[/color][/b][/i] [/QUOTE]
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