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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 86671, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]20.07.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The pair EUR/USD decreased at the end of the last week amid the commodity market sales and the pair EUR/GBP quotations decrease. The pair GBP/USD was traded in a narrow range. Earlier the pair decreased amid the US jobless claims moderately positive statistics as well as the US and the UK bond yields increase. The pair USD/JPY has finished the trading day in the "green zone". Demand for the "risky assets" still supports bulls. The US dollar is also going through hard times. Last week the Fed chairman Janet Yellen hinted that the rate hike would be this year. However, the specifics in terms of the rate hike possible timing traders still have not received. As a result, the statement impact on the dollar was minimal.[/i] [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] If any factor leads to the undesirable monetary policy tightening, the price stability will substantially worsen. "The European Central Bank Governing Council will use all available tools", - says the ECB president Mario Draghi. "Economic conditions" will likely justify the rate hike at some point this year," - said D. Yelllen, speaking in Congress. Comparing the ECB and the Fed comments, we can come to the conclusion that the market still will have bullish sentiments towards the US dollar. Bears brought the price closer to the first obstacle on the way downwards that is the level of 1.0925. The decrease continued started after breaking the mark of 1.0925. The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050. 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 MACD indicator is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] The potential decrease targets are two levels of support: 1.0790 and 1.0670. [img]http://savepic.su/5870783.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] Despite the UK inflation and the labor market negative macroeconomic statistics which we received last week - the British pound avoided sales and stabilized around the 56th figure. There are two key factors that support demand for the pound. Firstly, the pair EUR/GBP quotations reduction amid the single European currency weakness. Secondly, the debt market positive dynamics. The mark 1.5670 continues to demonstrate its strength in the resistance status. The bulls' attempt to break through this barrier was not successful. 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 and the Kijun-sen show 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 consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] We believe the growth will be continued now. The first target is the level 1.5670, the next one is the level of 1.5775. [img]http://savepic.ru/7614935.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] There was the bullish sentiments predominance within the pair. Traders continue to act out the Bank of Japan negative inflation forecast (Inflation indicator №1 for the currency market) and in this regard the Japanese yen is under pressure. Demand for the "risky assets" is still quite high which contributes to the carry trade transactions increase through the Japanese yen as a funding currency. The resistance at the level of 123.50 was broken through and now the price is close to the new resistance level of 124.30. 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 consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] We suppose the pair will go to 124.30 first. Having overcome the first target the price might go upwards to 125.50. [img]http://savepic.su/5850303.jpg[/img] [color=#00cc00][u][b]Franc (CHF)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The dollar rose against other major currencies. Last week the dollar index reached the seven week high after the labor market solid data have led to the expectations increase about the Fed raising interest rates before the end of 2015. The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the resistance at 0.9750. 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 upwards 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 growing. [color=#0000cc][b]Trading recommendations[/b][/color] We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9750. [img]http://savepic.ru/7609815.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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