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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Fort Financial Services, post: 89564, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]14.09.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The US currency showed weakness against its major counterparts - the dollar index basket (USDX) finished the trading day at the mark of 95.49. The Labor Department published the initial jobless claims report, the numbers fell by 6,000 and reached 275,000 with the seasonal correction. Economists expected 275,000 initial claims. The pair EUR/USD increased amid the European stock exchanges decrease. The dollar significantly depreciated against the euro which was caused by the US mixed statistics. The pair GBP/USD strengthened amid the UK government bond yields relative to their US counterparts. The pound markedly rose against the US dollar, having reached the two-week low at the same time that was caused by the Central Bank of England meeting results and the subsequent statements. As expected, during the meeting the BoE MPC members voted to keep the interest rates at the level of 0.5%. However, the week closed with the pair rebound downwards. The USD/JPY was in a flat amid the important macroeconomic statistics lack. The yen fell slightly despite the Japanese manufacturing sector large enterprises sentiment positive data.[/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 world leading markets instability influences to the single European currency. The world leading stock indicators do not show a steady upward trend. Last week the European stock indicators decreased more than by 1%. The US indicators showed a growth on the contrary. The high-tech sector was in leaders which traditionally indicates the demand for the “risky assets". The euro/dollar is growing. The pair rebounded upwards from the support level of 1.1260 and the resistance level of 1.1325 break through. The price is finding the first support at 1.1325, the next one is 1.1260. The price is finding the first resistance at 1.1410, the next one is at 1.1530. There is a confirmed and a weak 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. The upward movement will be until the price is above the Cloud. 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 1.1410. After breaking 1.1410 the buyers may go to 1.1530 and then towards to the level of 1.1590. [img]http://savepic.su/6103681.jpg[/img] [color=#00cc00][u][b]Pound (GBP)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The British currency has been ignoring the negative news for two trading days which indicates the strong buyers’ presence. The UK government bond yields increased relative to their US and Germany counterparts which contributes to the capital flow into the UK assets. The pair pound/dollar continued its upwards consolidation. After the resistance level of 1.5460 testing the pair rebounded downwards. 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 above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The MACD indicator 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 mark of 1.5550. [img]http://savepic.su/6160000.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The world leading stock markets do not give strong signals on the purchase and sale. In this regard, now it becomes clear whether investors open the carry trade operations or close them. The Japanese and the US government bond yields are increasing in favor of the US dollar. The US producer prices index was published. It was assumed that the negative data would put pressure on the US currency. The pair dollar/yen continues to stay in the consolidation. The pair is trading above the support level of 120.40. 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. 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 approach to the level of 120.40 may lead to a price rebound upwards. The potential rebound targets are the resistance levels of 121.60, 122.40. [img]http://savepic.su/6136448.jpg[/img] [color=#00cc00][u][b]Franc (CHF)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The US dollar is declining against the euro amid the weakening expectations that the Federal Reserve will increase the rate at the September meeting. The US producers’ prices index was expected to decrease in August by 0.1% compared with the previous month and will fall by 0.9% compared to last year August. The expectations concerning the producer prices and consumer confidence decline deepen the doubts that the Fed will raise interest rates in September. The pair dollar/franc continues to trade in a narrow range. By the end of the week the pair rebounded downwards from the resistance level of 0.9750. We believe that is a correction. 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 and the Kijun-sen show a downward movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud. The MACD indicator is in a neutral 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.su/6113920.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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