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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 86452, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]15.07.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The multi-week negotiations between the Greek government and international lenders have been finally ended with a consensus. The country remains in the euro zone and will receive a long-awaited financial assistance. Athens will be allocated more than 80 billion euros over three years. In exchange, the Tsipras' government will reform the pension system and labor markets. There was increased volatility in the Forex market. The EUR/USD fell after long positions profit taking when it became known that the Greece crisis is solved. The GBP/USD showed growth then as traders took profits amid the oil market bearish sentiment. The positive decision of the "Greek problem" promoted the demand for risky assets in the world, that supported the USD/JPY. Nevertheless, the pair fell by the end of the day.[/i] [img]http://savepic.ru/7572107.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] The index ZEW release has been published that has been showing a negative trend for the two months. There is an instability around Greece the last 1.5 months and this fact does not support the growth optimism in the German business community. The index came out with the data 29,7 that is less then 31,5 last month. Bears fully control "black gold" market. Brent oil confidently entrenched below the psychological level of $ 60 per barrel. The support levels of 1.1150 and 1.1050 break held against the backdrop of high volume - that is a good signal for the medium-term bearish trend continuation. 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. The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The MACD indicator is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] The pair is close to the strong support. If the pair breaks it we expect the decrease to 0.0790. [img]http://savepic.su/5813796.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The sterling strengthened amid the BoE chief Mark Carney’s statements is more likely to raise the rates The June UK CPI was published. The income has been increased that indicates an increase in consumer spending and ultimately inflation. The gasoline prices have been growing throughout the second quarter which also indicates an increase in CPI. The index came out on the level of 0,0%. The support level of 1.5460 short-term test was accompanied by an active pound growth against the US dollar. The resistance level of 1.5550 was broken upwards. The price is finding the first support at 1.5550, the next one is 1.5460. The price is finding the first resistance at 1.5670, the next one is 1.5775. There is a non-confirmed and a strong buy signal. The price is above the Cloud and it is under 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 recommend going long with the first target – 1.5670. When the price consolidates above the first target it may go to the level 1.5775. [img]http://savepic.ru/7544458.jpg[/img] [color=#00cc00][b][u]Yen (JPY)[/u][/b][/color] [color=#0000cc][b]General overview[/b][/color] In the lack of important macroeconomic statistics the pair's trading was determined by the stock and debt markets dynamics. We are seeing demand for "risky assets" amid the Greece and creditors agreement that will help to increase the carry trade operations with the Japanese yen as a funding currency. 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 horizontal movement. The upward movement will be until the price is above the Cloud. The MACD indicator is in a positive territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] The potential growth targets are the resistance levels: 123.50, 124.30. [img]http://savepic.su/5782052.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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