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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 89356, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]09.09.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The trade volume was low during the Monday’s trades amid USA holiday. They have not published any important macroeconomic statistics. As a result, traders did not hurry to trade. On Tuesday the volatility increased on the market. The euro showed mixed movements against the US dollar remaining in the narrow range with a growth amid the almost empty European calendar and the Labor Day celebration in the United States. The Germany and the euro zone statistics had a little impact. As it became known, the Germany industrial production rose up by 0.7 % in August, nearly offsetting the previous decline by 0.9 percent in June which was revised from -1.4 %. It has been the fastest growth till this year. However, it was slower than experts expected (one per cent). The pound has significantly grown against the dollar, updating the Friday maximum. Analysts believe that happened due to the US currency sales resumption amid the weak trades. The US dollar finished the trades with a growth against the yen having partially recovered amid the European and Japanese stock markets increase due to the risk appetite growth.[/i] [img]http://www.picshare.ru/uploads/150909/0Y1Dimef7l.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 euro area inflationary pressure has been practically absent from the year beginning and the further oil market sales will have deflationary impact on the economy. In addition, the US and Germany government bond yields are increasing that points out to the investments attractiveness in the US assets. The price continues the price correction. The price is trading above the level of 1.1150. The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1325. 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 horizontal 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 recommend going short with the first target – 1.1050. When the price consolidates below the first target it may go to the level 1.0925. [img]http://www.picshare.ru/uploads/150909/l1ob61M2Cu.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The US unemployment rate has fallen by 0.5% since the beginning of this year while the UK unemployment rate has fallen by 0.1%. The Brent crude oil is below the psychological level of $ 50/barrel. Considering the negative fundamental background we expect new sales wave in the short term that will also support the US currency. Meanwhile the pound exchange rate fixated above the critical line 1.5200. The pair showed a strong growth and broke through the level of 1.5300. the level of 1.5390 was tested. 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. The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The MACD histogram is in a positive territory. The price is consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] The buyers need to break above 1.5460 for a steady growth. The way to the mark 1.5550 will be opened after this breakthrough. [img]http://www.picshare.ru/uploads/150909/17GZeTXX9W.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The stock markets sales increased the demand for the yen as a funding currency. The second quarter Japanese gross domestic product fell to -0.3% which is higher than economists' expectations by -0.4%. The GDP declined by 1.2% on the annualized basis compared to the previous three months in the period from April to June and it was also higher than the forecast by -1.8%. The price is still correcting. The pair tested the support level of 119.20 and rebounded upwards. 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 consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] We suppose the pair will go to 119.20 first. Having overcome the first target the price might go downwards to 118.40. [img]http://www.picshare.ru/uploads/150909/AMFv13qZHp.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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