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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 87197, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]29.07.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]By the end of the day the pair EUR / USD had increased amid the German 10-year bond yields relative to its US and the UK counterparts. The Germany data served as a powerful driver for the euro. The IFO Institute business sentiment index registered growth up to 108 points in July, exceeding expectations at the level of 107.5 and the June index around the level of 107.4. It was enough for the pair EUR/USD to get a powerful impulse and to start recovery from the recent lows. By the end of the day the pair GBP / USD had strengthened despite the US durable goods orders positive macroeconomic statistics for June. During the day the pair USD / JPY some growth amid the world stock markets sales which caused the carry trade transactions closure. In June the US durable goods orders rose up by 3.4%, the index excluding transportation also rose up - by 0.8%. However, the main source of concern was the latest stock market crash in China where the Shanghai Composite has lost more than 8%. Traders believe that the China stock markets volatility can delay the US Federal Reserve possible rate hike as the situation is an additional threat to stability.[/i] [img]http://savepic.ru/7633523.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 main pair dynamics is determined by three factors: the bond market sentiments, the commodity market trend and the pair EUR / GBP dynamics. There was the German 10-year bond yields growth on the debt market in relation to its US and UK competitors which supports some demand for the euro. The Federal Reserve interest rate decision may affect the pair dynamics which will be published on Wednesday evening. The upward correction within the pair euro / dollar consolidated its positions, breaking through on its way resistance at the level of 1.1050. The price is finding the first support at 1.1050, the next one is 1.0925. The price is finding the first resistance at 1.1150, the next one is at 1.1260. 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 a horizontal movement and the Kijun-sen shows an upward 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 growth targets are 1.1150, 1.1260. [img]http://savepic.su/5940470.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] Yesterday the main event was the second quarter UK GDP publication. The Bank of England pointed to an economic growth by 0.7% in its monetary policy last minutes. These data came out at the forecast level of 0.7% q / q and 2.6% y / y The Federal Reserve interest rate decision can affect the pair dynamics which will be published on Wednesday evening. The resistance level of 1.5550 could not stop buyers. The level breakthrough was on the low volumes and opened the way to the level of 1.5460 and 1.5390 testing. 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. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The MACD histogram is in a negative territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] We expect a rebound. The levels of 1.5460, 1.5390 are the rebound targets. [img]http://savepic.ru/7607923.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] There was the investors' risk avoidance in financial markets (the world leading stock markets sales) which is a "bearish" factor for this pair. Investors closed the carry trade transactions which contributed to the Japanese yen demand as a funding currency. The Federal Reserve interest rate decision may affect the pair’s dynamics which will be published on Wednesday evening. Before reaching the support level of 122.80, the downward trend reversed in the short-term correction. The resulting correction is on the low volumes and is aimed at the resistance level of 123.50. 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. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The MACD indicator is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] After testing 123.50 we expect a consolidation. Then the price may go down. The downward targets are 122.40, 121.60. [img]http://savepic.su/5931254.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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