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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 88217, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]18.08.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]There was a multidirectional movement in the currency market. The chief troublemaker was the China Central Bank, it did not give any reason for the emotions surge and set the daily yuan fixing against the dollar almost without changes compared with the previous day, it has made it clear that the bank keeps to its stabilization promises. By the end of the day the pair EUR/USD had decreased amid the weak France, Germany and the Eurozone GDP data. The Eurozone and its major countries GDP assessment showed a growth, but it was worse than forecasted. The euro was supported by the Greece policy information plan. the pair GBP/USD had increased amid the UK and the US negative bond yields decline. In addition, the impression was caused by the UK controversial employment report somewhat blunted and the pound rose up against the US dollar in the news absence that can add negativity. However the pair’s growth was short-term and the pair fell by the end of the day. By the end of the day the pair USD/JPY had decreased amid the investors escape from the carry trade transactions which supported the demand for the yen as a funding currency. The Japan stock market has declined that slightly increased interest to the yen, the US shares increase allowed the dollar only to neutralize some of the losses.[/i] [img]http://savepic.su/6058396.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 EU published its June trade balance. The data came out at the level of 26.4B. The German 10-year bond yields are declining relative to their US, UK and Australian counterparts, making European assets less attractive to investors. The resistance level of 1.1150 was tested twice last week. The repeated level of 1.1130 testing was followed by the active prices decline with the following bullish trend reversal. The pair is trading around the support 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 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 correcting. [color=#0000cc][b]Trading recommendations[/b][/color] The approach to the level of 1.1050 may lead to a price rebound upwards. The potential rebound targets are the resistance levels of 1.1150, 1.1260. [img]http://savepic.net/7173622.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The June UK weak labor market raise doubts on the monetary tightening prospects by the Bank of England in 2016. The UK unemployment rate in the second quarter rose up by 0.1% while the US unemployment rate has decreased by 0.2%. The September USA rate hike expectations are intensified amid the positive economic data. In addition, the dollar is supported by the oil prices decline. The resistance level of 1.5670 testing was followed by the pair rebound 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 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 correcting. [color=#0000cc][b]Trading recommendations[/b][/color] We may expect the consolidation around the support level of 1.5550 further on we expect a growth to 1.5670, 1.5775. [img]http://savepic.net/7152118.jpg[/img] [/QUOTE]
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