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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 86516, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]16.07.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The main positive related with Greece has been already played out. Now, traders gradually become aware of what is the price of the agreement. The country is faced with the necessity of hard and painful reforms which are unlikely to please the public. There are reports about the civil servants strikes in the country. Now everything will depend on the government's ability to convey the entire population of the need for the reform. The important news became the Yellen's speech where she said that the rate increase could be expected this year. The EUR/USD was traded in a flat amid the mixed news background. The euro zone and the US alternately disappointed the market with weak macroeconomic statistics. After the J. Yellen’s speech the dollar strengthened and the pair fell. Mark Carney has rightly become the main week beginning newsmaker. The rising interest rates moment is getting closer - stated the head of the Bank of England, which caused the rapid growth of the British currency. At the end of the day the pair GBP/USD increased. The pair USD/JPY spent in the positive sentiment last trading day. Earlier traders partly fixed long positions profits considering current levels less attractive to long, based on the continuation of the uptrend. However the news supported the dollar and the pair increased.[/i] [img]http://savepic.ru/7564008.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 published euro zone macroeconomic data did not clearly add optimism to "bulls". The ZEW business conditions indicator has been showing a negative trend for the third month in a row, falling in July to its lowest level in seven months. The industrial production index also went into the negative territory for the end of May. The euro/dollar decreased amid J. Yellen’s speech. There was the previous minimum update. The level of 1.0925 testing came amid low volume. 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 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 and form a “Dead Cross”. 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=#0000cc][b]Trading recommendations[/b][/color] We suppose the pair will go to 1.0925 first. Having overcome the first target the price might go downwards to 1.0790. [img]http://savepic.su/5866902.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] National Office of Statistics has published the May UK labor market release. The Consumer Confidence Gfk indicator signaled that we should not expect strong data. This fact was confirmed by the CPI measure which remained unchanged by the end of June. The head of the Bank of England Governor Mark Carney said that "the moment of rising interest rates is getting closer." The pound slightly decreased on the yesterday trades. The second time buyers touched the resistance 1.5550. The pair tested the level of 1.5670 and rebounded downwards. 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 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 histogram is in a positive territory. The price is growing. [color=#0000cc][b]Trading recommendations[/b][/color] The buyers need to break above 1.5670 for a steady growth. The way to the mark 1.5775 will be opened after this breakthrough. [img]http://savepic.ru/7600875.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The Bank of Japan announced its meeting results regarding the monetary policy and, in this regard. Bank of Japan noted the positive trend in foreign trade, as well as the households expenditure. However, there is a negative trend in the manufacturing sector. Four daily US dollar growth against the Japanese yen faced the resistance at 123.50. The pair broke this level on the yesterday’s trades. The price is finding the first support at 123.50, the next one is at 122.40. The price is finding the first resistance at 124.30, the next one is at 125.50. 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 and the Kijun-sen show 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 growing. [color=#0000cc][b]Trading recommendations[/b][/color] The pair is going upwards. The bulls’ target is the level 124.30. [img]http://savepic.su/5842326.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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