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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 89417, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]10.09.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The US currency has slightly strengthened after it lost its positions against its main competitors earlier - the dollar index basket (USDX) finished the trading day at the mark of 95.92. The US labor market mixed data failed to convince investors that the economy was strong enough to hike the interest rates at the September meeting. Some investors also believe that the labor market instability and the China economy uncertainty will force the Fed to wait until the end of the year to tighten the monetary policy. The pair EUR/USD decreased. Earlier the pair has strengthened amid the euro zone GDP second quarter positive report. Some analytics believe that the GDP increased by 0.4% is better than expected 0.1%. The GBP/USD pair has strengthened amid the Brent oil growth. The pound has substantially grown against the US currency amid the risk appetite recovery. The GBP/USD was also supported by the stock markets growth. Nevertheless, the pair closed the trades with a decrease. The pair USD/JPY finished the trades in the "green zone". Demand for the risky assets put pressure on the "safe haven" yen.[/i] [img]http://savepic.net/7304001.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 demand for the “risky assets" is a negative factor for the euro. In addition, the bond market is sending negative signals for bulls. The US and German 10-year government bond yields are increasing that reduces the European assets investments’ attractiveness and do not support the demand for the euro. The pair’s corrective movement stopped. The pair rebounded downwards and tested the support 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 shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The downward movement will be until the price is under the Cloud. The MACD indicator is in a neutral territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] The potential decrease targets are two levels of support: 1.1050 and 1.0925. [img]http://savepic.net/7278401.jpg[/img] [color=#00cc00][u][b]Pound (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The UK trade deficit increased more than expected in July that amounted to 11.08 billion pounds from 8.51 billion pounds the previous month. Experts expected that the trade deficit would increase to 9.30 billion pounds. The last month UK manufacturing production volume (m/m) has decreased contrary to expectations, reaching 0.8% compared with 0.2% the previous month. Experts expected the growth rate by 0.2% for the last month. The pound rate stopped not so strong upward movement. After a short-term consolidation at the resistance level of 1.5390 the pair rebounded downwards. 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] We believe the growth will be continued now. The first target is the level 1.5460, the next one is the level of 1.5550. [img]http://savepic.net/7282497.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The Japan and the US government bond yields show the moderate increase which plays into the bulls’ hands. If the risk appetite keeps growing the Japanese yen may show weakness as a funding currency. We cannot ignore the US two-year Treasury bonds growth which reflects expectations for the Fed interest rates. The price continues its upward correction. The bears broke through the resistance level of 120.40. The price is finding the first support at 120.40, the next one is at 119.20. The price is finding the first resistance at 121.60, the next one is at 122.40. 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 an upward movement and the Kijun-sen shows 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] After the resistance level of 121.60 breakthrough upwards the way to the resistance level of 122.40 will be opened. [img]http://savepic.net/7333696.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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