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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 87260, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]30.07.2015[/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 long positions profit taking before ECB meeting. After another Chinese stock market collapse traders spread the rumors that the American central bank would not still raise interest rates. After the meeting results it was expected to hear something about new external risks to the US economy which would lead to the immediate dollar sales and the pair EUR / USD growth. As a result the last ECB meeting confirmed its plans to change the rates this year that supported the dollar. The pair GBP / USD had increased as well after the UK second quarter GDP publication. The final index is above the level of 0.7%. During the day the pair USD / JPY was growing. On the one hand, "bulls" were supported by the “risky assets" demand. On the other hand, the Conference Board consumer confidence weak data put pressure on the US currency.[/i] [img]http://savepic.ru/7706077.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] There was the debt and commodity markets stabilization after a high volatility. In this regard, it was expected that the pair euro / dollar would be trading a flat up to the FOMC meeting outcome announcement. It was expected that the US Wednesday Federal Reserve meeting results would be a little different from the D. Yellen two week ago rhetoric. Then the FED chairman announced the monetary authorities intention to tighten monetary policy at any meeting this year. The yesterday’s ECB meeting supported the dollar as the committee confirmed its intentions to change the rates this year. Having broken through the level of 1.1050 downwards the price. 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 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 MACD is declining. [color=#0000cc][b]Trading recommendations[/b][/color] We believe in pair’s decrease. The first target is the level of 1.0925. The next one is 1.0790. [img]http://savepic.su/5928056.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The GBP / USD fundamental background is still mixed. Investors 'attention is directed to the June UK mortgage lending publication which was positive, exceeding analysts' forecasts. Above all, the market was waiting for the US Federal Reserve meeting results. It was expected to hear the same benchmarks that were announced by D. Yellen in Congress two weeks ago. The trade is below the key resistance level of 1.5670. The price consolidation below the mark can lead to the short-term decline. 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 positive territory. The indicator is growing. [color=#0000cc][b]Trading recommendations[/b][/color] If the price remains below 1.5670 the downward movement will be continued. The targets are 1.5550 and 1.5460. Shall the price break the level upwards and we will see the growth continuation. [img]http://savepic.ru/7697885.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] Japan has published the June retail trade release. The wage level is the most important indicator for determining the retail sector demand dynamics. It was expected the data within the forecasted medians, but the results exceeded forecasts by 0.9% instead of the projected 0.5% after the previous indicator by 3.0%. The market was waiting for the US Federal Reserve monetary policy meeting results. Changes in rhetoric were not expected. The lack of buyers’ support can lead to the strong price rebound from the resistance level of 123.50. 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. 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 MACD is growing. [color=#0000cc][b]Trading recommendations[/b][/color] We expect the growth. The growth targets are 124.30 and 124.70. [img]http://savepic.su/5915768.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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