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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 88992, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]02.09.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The US dollar declined against the yen amid the investors’ reaction to the stock market decline and the rates reduction against the currencies which are used to finance the carry trade. That day the debt market was quiet: the credit spreads remained practically unchanged compared with the last week closure. The trade volume was relatively low because of the London market closure due to the holiday, but also because of the expectations about the US coming Friday August employment data which can indicate that the Fed would raise interest rates in September. On Saturday the Fed Vice Chairman Stanley Fischer said in his statement that the US inflation would likely be growing in case from the dollar growth pressure decline which may allow the Fed to gradually raise rates. It revived the idea that the Fed would start raising interest rates in September and helped the dollar growth against a range of currencies, including the pound and the franc.[/i] [img]http://savepic.net/7226941.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] Yesterday the world leading stock markets showed weakness that is a positive factor for the single European currency. The carry trade transactions will contribute to the euro demand as a funding currency. The debt market dynamics starts sending the bullish signal for the dollar. The Forex market analysis is showing that the price continues the weak upward correction. The resistance level of 1.1260 was broken upwards. The price is finding the first support at 1.1260, the next one is 1.1150. The price is finding the first resistance at 1.1420, the next one is at 1.1530. 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 shows a horizontal movement and the Kijun-sen shows 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 correcting. [color=#0000cc][b]Trading recommendations[/b][/color] We advise to short with the first target – 1.1260. When the pair consolidates below the first target, we can open deals to the level of 1.1150. [img]http://savepic.net/7264828.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The negative factor is the British currency revaluation against the euro that is its main trading partner. The British pound growth reduces the Old World products competitiveness. The oil prices decline supports the US currency as the raw materials cost is denominated in dollars. The pound exchange rate began a new corrective movement round after an unsuccessful attempt to continue the downward trend. However the corrective movement was short-term. The pair rebounded downwards from the resistance level of 1.5390 and tested the support level of 1.5300. The price is finding the first support at 1.5300, the next one is 1.5200. The price is finding the first resistance at 1.5390, the next one is 1.5460. 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 histogram is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] We recommend going short with the first target - 1.5200. When the price consolidates below the first target it may go to the level 1.5100. [img]http://savepic.net/7251516.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The Japanese and the US negative bond yields grow that is a bullish factor for the dollar as they increase the investments attractiveness in the US assets. The world leading stock markets are showing their weakness that on the contrary will support demand for the Japanese yen as a funding currency. Analyzing the yen exchange rate we see that the price is decreasing. The support level of 120.40 was broken downwards. The price is finding the first support at 119.20, the next one is at 118.40. The price is finding the first resistance at 120.40, the next one is at 121.60. 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 indicator is in a negative territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] The pair can decrease to the resistance level of 119.20. After breaking 119.20 the sellers may go to 118.40. [img]http://savepic.net/7242300.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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