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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 89484, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]11.09.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The US dollar lost the early earned positions. Meanwhile, traders turn their attention to the Fed monetary policy meeting which will be held on September 16-17. The dollar growth against the major currencies was caused by the expectations, concerning the Bank of China new monetary easing measures. According to the US Labor Department the initial jobless claims number became less than 6 thousand having fallen to 275 thousand. During the day the pair EUR/USD was in the flat amid the important macroeconomic statistics lack. However, the pair increased by the end of the trades. The pair GBP/USD had decreased. The weak economic statistics was published: the industrial production fell in August while the trade deficit has grown. On Thursday traders drew their attention to the Bank of England meeting and its minutes. The BoE kept the interest rates unchanged at 0.50%. The pair USD/JPY decreased after the powerful growth in the Tokyo stock market. Then the pair showed a flat. The Japan Nikkei index showed the biggest session growth after the China Finance Ministry stated that it intended to implement fresh measures to stimulate the economic growth.[/i] [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 "risk appetite" growth among investors put pressure on the euro as a funding currency. The Germany and the US negative government bond yields are increasing that supported the demand for the dollar. Now the other hand, investors are taking a wait and see attitude in anticipation of the Fed meeting. Nevertheless, the euro increased by the end of the trades. The euro is showing that now the movement strengthened. The euro grew and the resistance leve of 1.1260 was broken through 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 1.1325, the next one is at 1.1410. The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement and form a “Golden Cross”. The MACD indicator is in a positive territory. The price is increasing. [color=#0000cc][b]Trading recommendations[/b][/color] The pair can grow to the resistance level of 1.1325. After breaking 1.1325 the buyers may go to 1.1410. [img]http://savepic.net/7333545.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The main event of the day was the Bank of England monetary policy meeting results. The debt market is also sending a negative signal: the UK and the US negative government bond yields are increasing that reduces the British assets investments’ attractiveness. However, after the decrease the pound strengthened. The pair showed a strong growth and broke through the resistance level of 1.5390 and tested the level of 1.5460. The price is finding the first support at 1.5390, the next one is 1.5300. The price is finding the first resistance at 1.5460, the next one is 1.5550. The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”. The MACD histogram is in a positive territory. The price is growing. [color=#0000cc][b]Trading recommendations[/b][/color] We expect the 1.5550 line break that will open the way for the buyers to 1.5670. [img]http://savepic.net/7327401.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The world leading stock markets growth put pressure on the Japanese yen as a funding currency. The United States published the jobless claims release. The data showed the decrease by 6 000. It is impossible to ignore the commodity market sales. The oil, gold, copper, platinum and other commodities quotations fell very much which is a positive factor for the dollar as the raw materials cost is denominated in US currency. The price is finding the first support at 120.40, the next one is 119.20. The price is finding the first resistance at 121.60, the next one is 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 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 consolidating. [color=#0000cc][b]Trading recommendations[/b][/color] The buyers need to break above 121.60 for a steady growth. The way to the mark 122.40 will be opened after this breakthrough. [img]http://savepic.net/7316137.jpg[/img] [color=#00cc00][u][b]Franc (CHF)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The pair USD/CHF has fallen. The UK presented the initial jobless claims report: there was expected 275K while earlier it was expected 282K. The data came out at the forecasted median. Investors are taking a wait and see attitude in anticipation of the Fed meeting. The American monetary regulator will announce its interest rates decision just in a week. The pair dollar/franc is again correcting. The support level of 0.9750 was broken through downwards. The price is finding the first support at 0.9650, the next one is 0.9540. The price is finding the first resistance at 0.9750, the next one is 0.9850. 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 a downward movement and the Kijun-sen shows an upward 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 correcting. [color=#0000cc][b]Trading recommendations[/b][/color] We recommend going long with the first target - 0.9750. When the price consolidates above the first target it may go to the level 0.9850. [img]http://savepic.net/7314089.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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