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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 87863, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]11.08.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]Last week the foreign exchange market trades were under the wait and see positions’ influence that investors have taken on the eve of the July US employment release, hoping to get fresh guidance concerning the rate increases time. The June and May Non-Farms were revised for an increase, in general by 14 thousand and apparently, it strengthened confidence that the Fed short-term interest rates would be raised in September and caused the dollar full-scale purchases explosion. However, the "bulls" triumph was not long, very soon the US dollar came under pressure. At the beginning of the new week it was not able to maintain its achievements against the pound besides earlier the pair pound/dollar fell amid the UK negative data. The euro remained on the "float" in the dispute with the US dollar despite the weak statistics that came from the EU leading economies. The euro negative activity amid the US data was short-term and soon the euro returned all its losses, ending the day with a profit. After the side consolidation the pair USD/JPY rose on the US reports, but soon it fell down. Obviously, the change of mood within this pair has been provoked by the events in the US debt market where the "treasuries" profitability has fallen sharply after the employment report publication.[/i] [img]http://savepic.net/7100595.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] According to the Bank of France forecasts, the country economic growth will increase slightly in the third quarter. According to the Bank of France companies’ activity survey in July, the French 3rd quarter GDP will increase by 0.3% compared to the 2nd quarter. The Bank of France previous survey pointed out that the GDP growth in the 2nd quarter was 0.2%. The Bank of France said that the manufacturing sector and the service sector business sentiment remained unchanged compared to June. There was the strong resistance level of 1.0925 breakthrough upwards on the pair EUR/USD. Then the pair increased and the resistance level of 1.1050 was broken through. 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 non-confirmed and a weak 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 and form a “Golden Cross”. 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 potential growth targets are the resistance levels: 1.1050, 1.1150. [img]http://savepic.net/7133362.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The first day of the week has passed in the absence of any important statistics. The market reacted only on the Federal Open Market Committee members Fisher and Lockhart speeches. Both members support the early rate hike at least twice before the end of the year. So it was expected quite harsh rhetoric. Investors are waiting for the UK labor market indicators which are scheduled for Wednesday. The pair GBP/USD is consolidating above the strong support level of 1.5460. then the pair broke through the resistance level of 1.5550. 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 under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The MACD histogram is in a negative territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] When the price consolidates it may go downwards. The potential decrease targets are two levels of support: 1.5550 and 1.5460. [img]http://savepic.net/7122098.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The yen fell against the dollar after the macroeconomic statistics publication. The foreign economic activity results marked the surplus emergence in the June trade balance - +102.7 billion yen against the earlier 47.3 billion yen, but the current account balances reduction to 588 billion yen after 1880.9 billion yen in May. There was the upward trend breakthrough within the pair USD/JPY. There is a short-term correction near the level of 124.50 that is playing the role of a resistance. The price is finding the first support at 124.30, the next one is at 123.50. The price is finding the first resistance at 125.50, the next one is at 127.00. 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] We suppose the pair will go to 125.50 first after a consolidation. Having overcome the first target the price might go upwards to 127.00. [img]http://savepic.net/7113906.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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