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"Fort Financial Services"-fundamental and technical analysis


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#561
ValdisTF

ValdisTF

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"Fort Financial Services"- fundamental and technical analysis.
 
07.03.2017
 
Euro
 
General overview
 
The euro rose amid the US dollar retracement as investors were taking profit after last week rally. The US dollar strengthened amid the expectations of the rate hike on the Fed meeting on the 14-15 March. The presidential elections in France are still in focus.
 
Current situation
 
The pair remained in a descending channel on Monday. Inability to break below 1.0500 returned some buying interest pushing the spot higher. Moreover, a soft tone around the US dollar opened the doors for the current euro recovery. The single European currency rallied through several levels until it reached the upper limit of the range around 1.0650. The hurdle stopped bulls for now who seem to have started a consolidation phase. A wave of fresh selling pressure emerged in the late European session driving the major below 1.0600 to 1.0580. According to 4 hours chart the euro tested the 100-EMA in the first part of the day. The 50-EMA kept heading higher, the 100-EMA turned downwards while the 200-EMA remained mild bearish in the same timeframe. The resistance is at 1.0600, the support comes in at 1.0550.
 
The histogram declined which is a sell signal. RSI oscillator stayed near overbought levels, favoring a move lower.
 
Trading recommendations
 
When we stay below the level 1.0600 the support 1.0550 will come back into play.
 
13119277.jpg
 
Pound
 
General overview
 
The market was low volatile on Monday amid an empty macroeconomic calendar. However, the pound remained weak against the dollar following the investors' optimism of the rate hike at the March meeting.
 
Current situation
 
The pair presented a modest bearish tone on Monday. The pound was able to recover up to 1.2300 last week which appeared to be a tough nut to break. The level stopped bulls and after a night flat the cable came under renewed selling pressure during the European morning trade. Bears tightened their grip and pushed the price lower away from the 1.2300 resistance. The spot had reached 1.2250 by the NY opening. The 4 hours chart showed that the price continued developing well below its moving averages. The 50 and 100 EMAs maintained their bearish slope while the 200-EMA was neutral in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.
 
MACD grew which indicates the sellers’ positions weakening. RSI indicator was near undervalued territory, favoring a new move lower.
 
Trading recommendations
 
We believe the pair will remain in red figures. All eyes are right now at the support level 1.2200.
 
13124397.jpg 
 
Yen
 
General overview
 
North Korea had set up rockets to the Japan’s Exclusive Economic Zone. This action hiked anxiety level in geopolitical environment making investors buy yen to escape the risk.
 
Current situation
 
The USD/JPY opened bearish on Monday. The pair headed lower in the Asian session and continued losing ground in the European morning. Sellers reached 113.80 first and after a brief pause continued moving the major lower and reached 113.60 in the late European session. The price remained above the moving averages in the 4 hours chart. The 100-EMA touched the 200-EMA and turned neutral. The 200-EMA also was neutral while the 50-EMA turned upwards in the mentioned timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00.
 
MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards.
 
Trading recommendations
 
The USD/JPY pair is likely to maintain its sell tone in the short term. The 113.50 area stopped sellers to move lower for now. A cut through the mark will turn attention to the 113.00 level.
 
13135661.jpg 
AUD/USD
 
General overview
 
According to the Australian Bureau of statistics, retail sales for January slightly grew.  However, household spending growth increased concerns of the RBA. The Reserve Bank of Australia meeting minutes will be released on Tuesday. Analysts are expecting the regulator to leave the interest rate unchanged at 1.5%.
 
Current situation
 
After a sharp sell-off on Friday buyers found fresh strength to recover some gains on Monday. The 0.7550 handle stopped sellers' advance rejecting the spot afterwards. The AUD was recovering the whole night and extended its recovery in the European session. Buyers accelerated their advance in the morning and tested 0.7600 in the late European session. The pair lacked upward momentum in the noon
and had to pause choosing the right direction. According to 4 hours chart the major stayed below the moving averages. The 50-EMA kept pointed lower, the 100-EMA and 200-EMAs turned neutral in the same timeframe. The resistance is highlighted 0.7600, the support comes in at 0.7550.
 
MACD grew which indicates the sellers’ positions weakening. RSI moved north which confirms the current upward momentum.
 
Trading recommendations
 
The AUD is likely to extend its weakness in the short-term. If the spot stays below 0.7600 the AUD/USD pair may extend its bearishness to 0.7550. Alternatively, the 0.7600 resistance will need to be retested for support before a price can rally towards 0.7650. 
 
13142829.jpg
 
XAU/USD
 
General overview
 
Gold prices traded in green on Monday amid the increased demand for risky assets following the news about the launch of four North Korean ballistic missiles.
Current situation
 
The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining the night and the morning and reached 1230 in the noon. The 4 hours chart showed that the price bounced off the 200-EMA upwards and then was sandwiched between this moving average and the 100-EMA. The moving averages were neutral in the same timeframe. The resistance exists at 1240, the support stands at 1230 dollars per ounce.
 
MACD grew which indicates the sellers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
A break below 1230 would open the way to 1220 dollars per ounce.
 
13155117.jpg
 
Brent
 
General Overview
 
Investors' concerns about the economic growth in China weighed on crude oil futures on Monday. Traders are waiting for the Fed's rate hike next week, which pressuring oil futures amid the dollar growth. Traders are also awaiting weekly reports on US crude inventories on Tuesday and Wednesday.
 
Current situation
 
Brent opened red on Monday. Sellers were leading the benchmark downwards and managed to pierce 55.50 in the late Asian session. However, bears failed to reclaim the level and the price returned above the tested handle. The pressure remained intact afterwards holding the spot around the support level. The price tested the 200-EMA and bounced off downwards in the 4 hours timeframe. The 50-EMA touched the 100-EMA. The 50-EMA kept pointed lower while the 100-EMA and the 200-EMA were neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.
 
MACD formed signal to rise. The RSI oscillator consolidated within neutral area.
 
Trading recommendations
 
We expect to see renewed bullish pressure in the upcoming sessions. The main buyers’ goal is the level at 56.50 dollars per barrel. 
 
13163309.jpg 
 
DAX
 
General overview
 
European stocks fell on Monday following mining shares decline amid concerns on the China's economic growth weakening and the possible Fed rate hike.
 
Current situation
 
DAX gapped lower at the weekly open. The index jumped over 12000 and reached 11922 in the late European trades. The benchmark found fresh bids around the level lately the day and bounced off it. DAX returned to the opening prices afterwards and remained there the first part of the day. The 4 hours chart showed that the index tested the 50-EMA. The price was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.
 
MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards.
 
Trading recommendations
 
A move below 11900 will confirm the presence of sellers. DAX may ease further and reach 11850 afterwards.
 
13170477.jpg
 
NASDAQ
 
Current situation
 
The overall picture remained unchanged on Monday. The benchmark stayed in a sideways channel trading in a tight range the first part of the day. The index gapped downwards and reached the lower limit of the range at the daily open. Sellers failed to extend their gains after the gap being only able to reach the mark 5347. The mark rejected NASDAQ upwards which returned to the opening prices in the European morning. According to 4 hours chart the benchmark tested the 50-EMA downwards and remained above the moving averages. The 50-EMA was neutral while the 100 and 200 EMAs maintained their bullish slope in the same timeframe. The resistance is at 5380, the support comes in at 5340.
 
The MACD histogram decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
A break below the level of 5340 might force the index to resume its downward trajectory towards 5300.
 
13113130.jpg
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#562
ValdisTF

ValdisTF

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"Fort Financial Services"- fundamental and technical analysis.
 
08.03.2017
 
Euro
 
General overview
 
The euro did not react to weak Factory Orders in Germany. Meanwhile, the single European currency remained under pressure amid uncertainty around the Presidential elections in France. The possible Fed rate hike weighed on the euro as well.
 
Current situation
 
The undertone for Euro was clearly negative on Tuesday. The price was slowly growing in the night session and accelerated its recovery in the morning. Buyers tested 1.0600 in the European morning and were struggling with the level afterwards. However, the upward impetus lost its strength in the late European session. The price pushed away from the level 1.0600 and headed lower erasing buyers’ night gains. The pair broke the 100-EMA downwards and tested the 50-EMA afterwards in the 4 hours chart. The 50 and 100 EMAs were neutral while the 200-EMA kept heading lower in the same timeframe. The resistance is at 1.0600, the support comes in at 1.0550.
 
The MACD histogram declined which indicates buyers’ strength weakening. RSI moved south which confirms the current downward momentum.
 
Trading recommendations
 
We believe the EUR/USD pair will continue moving lower. A daily close below 1.0550 would risk 1.0500.
 
13120249.jpg
 
Pound
 
General overview
 
The pound remained under pressure as the market was rather concerned about the USA plans to react to North Korean latest actions.  Besides, traders waited for House of Lords final decision on Article 50.
 
Current situation
 
The pound remained under pressure due to the bid sentiment around the dollar. The overnight’s recovery attempt stalled around the 1.2250 mark. Bears regained control in the late Asian session and drove the major lower. European sellers continued to grind the spot towards 1.2200 and touched the level post London open. According to 4 hours chart the major was below the moving averages which were all pointing lower. The resistance lies at 1.2300, the support comes in at 1.2200.
 
The MACD histogram decreased which is a sell signal. RSI indicator was near undervalued territory, favoring a new move lower.
 
Trading recommendations
 
The short term picture favors the downside. A close below 1.2200 will trigger losses towards 1.2100.
 
13117177.jpg
 
Yen
 
General overview
 
The US dollar grew on strong hopes that the Fed will hike its rate this month. All eyes are on BoJ's GDP report which is expected with upbeat figures. 
 
Current situation
 
The USD/JPY maintained its consolidation phase in the early trades on Tuesday. The major preserved its neutral-to-bearish stance and traded in a tight range fluctuating between 114.00 and 113.80. About of fresh buying interest emerged in the late European session. Buyers moved the price upwards and struggled with 114.00 level. The 4 hours chart showed that the spot remained above the moving averages. The 100-EMA crossed the 200-EMA upwards. The 50-EMA maintained its bullish slope while the 100 and 200 EMAs were neutral in the mentioned chart. The resistance is highlighted at 114.00, the support comes in at 113.00.
 
The MACD histogram grew which is a buy signal. RSI was neutral to bullish. 
 
Trading recommendations
 
Once we break above the 114.00 level, we think that the 115.00 level will be next.
 
13129465.jpg
 
NZD/USD
 
General overview
 
Investors’ attention now turns to Global Dairy Trade (GDT) in London. Milk price is likely might decrease by 7%-9% which might affect the NZD as the national currency highly depend on the milk production.
 
Current situation
 
The market sentiment remained negative on Tuesday. The NZD opened on a stronger note around 0.6980. Buyers managed to lift the major to 0.7015 where the upward trajectory stalled. Sellers seized control and returned the Kiwi to the opening prices erasing all its early trades. The pair maintained its gloomy trend afterwards heading towards 0.6950. According to 4 hours chart the currency pair continued developing well below the moving averages which were all pointing lower. The resistance is highlighted 0.7000, the support comes in at 0.6950.
 
MACD decreased which confirms the strength of sellers. RSI indicator was near undervalued territory, favoring a new move lower.
 
Trading recommendations
 
The NZD is likely to remain well offered in the short-term. A further extension to 0.6950 is not ruled out.
 
13126393.jpg 
 
XAU/USD
 
General overview
 
 Growing confidence around Fed rate hike action kept weighing on the yellow metal holding the spot around three week lows.
 
Current situation
 
Gold maintained the ask tone on Tuesday. After a sharp sell-off on Monday sellers stepped away giving the way to buyers in the night session. However, the last did not hurry to take control preferring to wait for fresh market movers. Thus, the price was trading in a directionless mode around 1225 the first part of the day. Sellers returned in the noon and drove the precious metal towards 1220 dollars per ounce. The price broke the 200-EMA in the 4 hours chart. The 100 and 200 EMAs were neutral while the 50-EMA turned lower in the mentioned timeframe. The resistance exists at 1230, the support stands at 1220 dollars per ounce.
 
MACD traded to the downside. The RSI indicator was holding near oversold levels.
 
Trading recommendations
 
After a daily close below 1220 dollars per ounce we could see the XAU/USD pair extending down to the 1210 region during the next sessions.
 
13136633.jpg
 
Brent
 
General Overview
 
Brent traded flat on Tuesday as investors were assessing prospect of production cuts against the US drilling activity growth.
 
Current situation
 
Brent traded mixed the first part of the day. The bearish momentum persisted in the night. The price slightly eased during the Asian session. Bulls regained control in the morning and pushed the price higher. After posting a daily low at 55.74 the benchmark erased all its losses in the morning and reached 56.20 in the noon. The 4 hours chart showed that the black gold bounced off the 200-EMA upwards and tested the 50 and 100 EMAs. The 50-EMA crossed the 100-EMA downwards. The 50 and 100 EMAs were neutral while the 200-EMA turned upwards in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.
 
MACD indicator was at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. The RSI oscillator moved upwards. 
 
Trading recommendations
 
A close above 56.50 will generate fresh bullish signal for further advance, which could extend to the level of 57.00 dollars per barrel. 
 
13147897.jpg 
 
DAX
 
General overview
 
 European stocks were mostly unchanged on Tuesday. The main point of focus this week is the ECB meeting on Thursday.
 
Current situation
 
DAX remained in an upward channel on Tuesday. Sellers led the price to its lower limit but failed to continue its advance afterwards. The price bounced off 11900 and reversed almost all early losses. The benchmark tried to extend the recovery in the morning on Tuesday but did not succeed staying around the opening prices the first part of the day.  According to 4 hours chart the price tested the 50-EMA and hovered above it afterwards. The price continued developing well above the moving averages. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 12000, the support stands at 11900.
 
MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
After breaking 11950 the level of 11900 will come back to the radar.
 
13143801.jpg
 
S&P500
  
Current situation
 
After a night sharp drop the index traded sideways during the European hours. The price was going up and down in a tight range fluctuating between 2370 and 2375. The price tested the 50-EMA but could not move lower in the 4 hours chart. S&P500 was above the moving averages which were all pointing higher in the same chart. The resistance is at 2380, the support comes in at 2360.
 
MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI remained within neutral territory.
 
Trading recommendations
 
A cut below the 2380 mark will aim sellers at the 2360 level. 
 
13155065.jpg
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#563
ValdisTF

ValdisTF

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"Fort Financial Services"- fundamental and technical analysis.
 
10.03.2017
 
Euro
 
General overview
 
The euro was attracting everyone’s attention on Thursday in light of the ECB meeting. Investors expected the regulator to leave the rate unchanged. Investors believe the ECB won't risk ahead of important elections in Europe.
 
Current situation
 
Sellers managed to lead the price a bit lower in the night. However, after posting a daily low at 1.0524 the pair reversed its direction. A minor dollar retracement triggered some profit taking move following the pair's recent sell-off. Buyers pushed the price to 1.0550 in the morning and broke the level in the late European session. The price was below the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs pointed lower in the same chart. The resistance is at 1.0600, the support comes in at 1.0550.
 
MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI indicator was near undervalued territory, favoring a move higher.
 
Trading recommendations
 
The major is still in a downward channel and the single currency is still under pressure. After a close below the level of 1.0550 we could see EUR/USD extending its declines down to 1.0500.
 
13186232.jpg
 
Pound
 
General overview
 
The British pound extended its weakness in the light of a stronger dollar and uncertainty around Brexit.
 
Current situation
 
After the night flat the price continued moving downwards on Thursday. The spot stayed in a tight range 1.2160-1.2150 in the night. Sellers became more active in the morning and led the major out of the sideways channel. According to the 4 hours chart the price continued developing well below the moving averages. The moving averages maintained their bearish slope in the same chart. The resistance lies at 1.2200, the support comes in at 1.2100.
 
MACD remained at the same level which confirms the strength of sellers. The RSI indicator held near oversold readings.
 
Trading recommendations
 
The pair remains in red figures. The nearest sellers’ target is the support level 1.2100.
 
13187256.jpg
 
Yen
 
General overview
 
The upbeat Chinese Consumer Price Index supported the US dollar on Thursday. Moreover, the greenback is well supported by a possible Fed rate hike action in March. However, this Friday's NFP report still matters.
 
Current situation
 
The undertone for USD is clearly positive. The pair extended its near-term upward trajectory on Thursday. After Wednesday's rally the price pulled back a bit. Buyers allowed sellers to reverse some losses. However, a fresh buying interest emerged at the daily open. Buyers began returning the lost ground slowly and steady and had reversed all the recent losses by the European morning. Bulls continued advancing north and reached 115.00 in the noon. According to 4 hours chart the price continued developing well above the moving averages. The 50-EMA crossed the 100 and 200 EMAs upwards. The 50-EMA kept pointed higher while the 100 and 200 EMAs were neutral in the mentioned timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00.
 
The MACD histogram grew which is a buy signal. The RSI indicator was near overvalued territory, favoring a new move higher.
 
Trading recommendations
 
We believe the US will extend its upward impulse in the short term. A further extension beyond 115.00 is not ruled out. 115.50 is the next profit target.
 
13194424.jpg
AUD/USD
  
General overview
 
The AUD weakened amid a stronger dollar and disappointing Chinese inflation data.
 
Current situation
 
Sentiment remained negative on Thursday. Sellers maintained control and pushed the price lower. They moved slowly in the Asian session and accelerated in the morning. The AUD reached 0.7500 post European open. The major continued developing well below the moving averages which were all pointing lower in the 4 hours chart. The 50-EMA was below the 100-EMA and crossed the 200-EMA downwards in the same timeframe. The resistance is highlighted 0.7550, the support comes in at 0.7500.
 
The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator is near undervalued territory, favoring a new move lower.
 
Trading recommendations
 
A firm break below 0.7500 handle would open 0.7450.
 
13190328.jpg 
 
XAU/USD
 
General overview
 
Gold prices kept losing ground trading around 8 week lows in the light of speculations that the Fed will hike the rate next week.
 
Current situation
 
Gold opened on a weaker note on Thursday. Sellers remained in driver's seat and pushed the price lower in the night session. The XAU/USD pair extended its weakness in the European session and reached 1205 in the mid-European session. According to 4 hours chart the yellow metal continued developing well below the moving averages. The 50-EMA crossed the 100-EMA downwards. The 50 and 100 EMAs pointed lower while the 200-EMA was neutral in the same chart. The resistance exists at 1210, the support stands at 1200 dollars per ounce.
 
MACD traded to the downside. RSI headed downwards which confirms the strength of sellers. 
 
Trading recommendations
 
We assume that a daily close below 1200 would risk 1190 dollars per ounce.
 
13208760.jpg 
 
Brent
 
General Overview
 
Oil prices dropped on Thursday amid the U.S. crude inventories growth which returned investors' concerns regarding a global glut despite supply cut agreement.
 
Current situation
 
Brent pulled back a bit during the Asian hours and reversed a minor portion of its Wednesday's losses. Buyers were able to return the price to the 53.50 region where the benchmark ran through fresh offers. Brent oil prices continued with a decline in the morning. Sellers returned the price below 53.50 and continued pushing the benchmark lower afterwards. Brent sharply fell in the noon and tested 52.50 dollars per barrel. The 4 hours chart showed that the black gold continued developing well below the moving averages which were all pointing lower. The 50-EMA crossed the 100 and 200 EMAs downwards and in the mentioned chart. The resistance lies at 52.50, the support comes in at 51.50 dollars per barrel.
 
MACD decreased which confirms the strength of sellers. The RSI indicator remains within oversold readings.
 
Trading recommendations
 
A pullback is expected in the market in the near term. The price may recover a bit on profit-taking. The possible target is 53.50 dollars per barrel. If the downward pressure persists the price will reach 51.50 in the coming sessions.
 
13220024.jpg 
 
DAX
 
General overview
 
European stocks traded lower ahead of the ECB meeting results. Energy sector shares decline and disappointing corporate readings reported weighed on stocks as well.
 
Current situation
 
DAX gapped lower at the open. However the benchmark failed to extend its downside direction. Buyers filled the gap post European open. The index continued trading in a familiar range afterwards. The price stayed around the 50-EMA in the 4 hours timeframe. The 100 and the 200 EMAs pointed higher while the 50-EMA was neutral in the mentioned chart. The resistance exists at 12000, the support stands at 11900.
 
MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI consolidated within neutral territory.
 
Trading recommendations
 
The index now has the potential to post more gains. The main goal is the level at 12000. However, DAX needs to retake 11950 first.
 
13227192.jpg 
 
NASDAQ
 
General overview
 
Wall Street traded flat in pre-market ahead of the ECB meeting and Non-Farm payroll report on Friday.
 
Current situation
 
NASDAQ remained flat on Thursday hovering above 5340 in the 5360 region. According to 4 hours chart the price broke the 50-EMA upwards. The moving averages maintained their bullish slope in the same chart. The resistance is at 5380, the support comes in at 5340.
 
MACD indicator was at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI remained within neutral territory. 
 
Trading recommendations
 
An uptrend will start as soon, as the price rises above the resistance level 5380.
 
13236408.jpg
 
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#564
ValdisTF

ValdisTF

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"Fort Financial Services"- fundamental and technical analysis.
 
15.03.2017
 
Euro
 
General overview
 
Consumer Price Index in Germany came in a line with forecasts. However, despite positive inflation data in Germany and other EU countries the ECB is unlikely to change its policy in the nearest future.
 
Current situation
 
The night recovery stalled above 1.0650. Sellers regained control in the morning. The major weakened and broke the level post London open. The pair extended its weakness afterwards heading towards 1.0630. According to 4 hours chart the price tested the 200-EMA. The 50-EMA crossed the 100-EMA upwards. The 50-EMA kept pointed higher while the 100-EMA and the 200-EMA were neutral in the same timeframe. The resistance is at 1.0650, the support comes in at 1.0600.
 
MACD traded to the downside. RSI advanced south which confirms the current downward movement. 
 
Trading recommendations
 
If the bearish tone persists we expect a breakout of the level 1.0600.
 
13250846.jpg
 
Pound
 
General overview
 
The pound weakened after the Parliament decision to allow the UK PM Theresa May to trigger article 50. Some analytics expect Theresa May will officially announce about leaving the union on Wednesday during the Prime Minister question time in the House of Commons. Others believe she will wait for the EU Summit later this month.
 
Current situation
 
The GBPUSD opened in red on Tuesday. The pound started the day above 1.2200. Sellers returned the price to the level in the Asian session. A bout of fresh bearishness emerged in the morning. The spot broke the level and sharply dropped to 1.2100. Sellers failed to break the level at once and pulled back to gather some steam. The price broke the 50-EMA downwards and continued developing well below the moving averages in the 4 hours chart. The moving averages maintained their bearish slope in the mentioned timeframe. The resistance lies at 1.2200, the support comes in at 1.2100.
 
The MACD histogram decreased which is a sell signal. RSI advanced south which confirms the current downward movement. 
 
Trading recommendations
 
The technical picture will remain bearish in the nearest time. A daily close below 1.2100 would risk 1.2000.
 
13249822.jpg
 
Yen
 
Current situation
 
The USDJPY opened bullish on Tuesday. The pair started the day at 114.70. Buyers pushed the price upwards in the night. The price broke the hurdle post European open. However, the major failed to extend its bullishness afterwards. The 115.00 level appeared to be well protected by sellers. The US dollar found fresh offers around 115.00 and dropped to 114.80 ahead of NY opening. The price was above the moving averages which were all pointing higher in the 4 hours timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00.
 
The histogram grew which is a buy signal. The RSI oscillator moved upwards.
 
Trading recommendations
 
The overall outlook remains bullish, for a rise towards 116.00 resistance area.
 
 13262110.jpg
 
AUD/USD
 
General overview
 
The Aussie softened on Tuesday following National Australia Bank's Business Confidence survey. The survey disappointed investors and weighed on the national currency despite upbeat Chinese Industrial Production.
 
Current situation
 
Sellers continued to dominate on Tuesday. Bears pushed the AUD lower in the night. The currency pair touched 0.7550 post Asian open. The pair failed to retake the level in the Asian session and had to retreat. Sellers had another chance in the morning. They pushed the price lower and pierced the level in the early European trades. Sellers failed to break the level again and stayed around it till the NY opening. The spot remained under pressure due to the bid sentiment around the dollar during the NY session. The resistance is highlighted 0.7600, the support comes in at 0.7550.
 
MACD indicator was at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI remained within neutral territory. 
 
Trading recommendations
 
A close below 0.7550 will trigger losses towards 0.7500.
 
13263134.jpg
 
XAU/USD
 
Current situation
 
Gold prices were neutral on Tuesday flirting with the 1200 handle in the early trades. The yellow metal was moving back and forth in a tight range between 1205 and 1200 the first part of the day. A fresh buying interest emerged in the late European session. The spot pushed away from 1200 and rallied towards 1205. The price was below the moving averages in the 4 hours timeframe. The 50 and 100 EMAs pointed lower while the 200-EMA was neutral in the mentioned chart.  The resistance is highlighted 1210, the support comes in at 1200 dollars per ounce.
 
MACD grew which indicates the sellers’ positions weakening. The RSI indicator was holding near oversold levels.
 
Trading recommendations
 
After breaking 1205 the level 1210 will come back to the radar.
 
13277470.jpg 
 
Brent
 
Current situation
 
Brent oil prices tried to develop a correction on Tuesday. Buyers managed to lead the price to 51.50 over the night. The benchmark broke the level in the European session. However, oil prices failed to maintain their ask tone and turned bearish right after the level break. As the result the benchmark dropped to 50.50 dollars per barrel. According to 4 hours chart the benchmark continued developing well below the moving averages. The 50, 100 and 200 EMAs maintained their bearish slope. The resistance lies at 51.50, the support comes in at 50.50 dollars per barrel.
 
MACD grew which indicates the sellers’ positions weakening. The oscillator RSI remained within the oversold territory.
 
Trading recommendations
 
If the benchmark manages to stay around 50.50 the next target for the price is the support level of 49.50 dollars per barrel.
 
13293854.jpg 
 
DAX
General overview
 
European stocks moved lower on Tuesday amid the uncertainty around the Presidential elections in Netherlands. The upcoming Fed decision over the rate hike weighed on stocks as well.
Current situation
 
DAX turned bearish at open. The price pushed away from 12000 and edged lower towards 11900 in the late European session. The 4 hours chart showed that the price returned below the 50-EMA. The moving averages pointed higher in the mentioned timeframe. The resistance exists at 12000, the support stands at 11900.
 
MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over 
the market. RSI advanced south which confirms the current downward movement. 
 
Trading recommendations
 
If the price succeeds and fixes below the level of 12000, the market may fall towards 11900 and 11850.
 
13241629.jpg
 
S&P500
 
 General overview
 
 Wall Street edged lower on Tuesday in the light of the FOMC two-day policy meeting.
 
Current situation
 
S&P500 was neutral during the night and morning trades. The benchmark was trading in a tight range of 30 pips around 2370. The index sharply dropped in the late European session and reached 2360. The price was sandwiched between the 50 and 100 EMAs in the 4 hours timeframe. The 50-EMA turned downwards while the 100 and 200 EMA maintained their bullish slope in the same chart. The resistance is at 2380, the support comes in at 2360.
 
MACD indicator was at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI remained within neutral territory.
 
Trading recommendations
 
A clear break below 2360 would indicate that the bearish phase has resumed.
 
13302045.jpg
 
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#565
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16.03.2017
 
Euro
 
General overview
 
The euro weakened on Wednesday as investors the focus moved from the ECB and his plans to cut the QE program towards the election in Netherlands.
 
Current situation
 
Sellers found an obstacle at 1.0600. Buyers seem to have protected the level with fresh bids. The euro bounced off the support level in the Asian session. The rebound was still in force during the European hours. Buyers lifted the price to 1.0640 where the upward impetus slowed down. The 4 hours chart showed that the major broke the 200-EMA downwards and bounced off the 50-EMA afterwards. The 200 and 100 EMAs pointed lower while the 50-EMA moved upwards in the same timeframe. The resistance is at 1.0650, the support comes in at 1.0600.
 
MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
We see two scenarios for today. Should the Fed hike the rate the market may start a new decline. Sellers will lead the single European currency to 1.0550 in this case. A break above the level 1.0650 my trigger another leg higher towards 1.0700.
 
13265108.jpg
 
Pound
 
General overview
 
Sellers seemed to have been exhausted and allowed a brief phase of upside consolidation in GBP/USD. The pound found strength to recover after a long period of weakness amid ‘Hard Brexit’ concerns. The upbeat Unemployment Rate supported the national currency. However, the recovery was limited as the Average Earnings came in below expectations. 
 
Current situation
 
The bullish views were popular the first part of the day. The pound was in the green zone the night and the morning. The price bounced from 1.2150 in the Asian session and rallied towards 1.2200. The spot pierced the level in the European morning but failed to regain the hurdle. Sellers regained control and returned the Cable to 1.2200. According to 4 hours chart the price tested the 50-EMA in the noon. The moving averages kept heading lower in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.
 
MACD grew which indicates the sellers’ positions weakening. The RSI oscillator moved upwards.
 
Trading recommendations
 
A sustained break above the 1.2300 region is seen as minimum requirement needed to confirm bullish resumption. Should sellers remain in a driver’s seat the GBP/USD will likely target the 1.2100 support level.
 
13271252.jpg
 
Yen
 
General overview
 
The USD/JPY pair consolidated on Wednesday as investors awaited the outcome of FOMC meeting. Traders expected 25 bp rate hike. Traders also looked forward to the BoJ meeting results and its decision regarding the rate. However, no one expected any surprise from this part.
 
Current situation
 
The overnight’s recovery attempt stalled just under the 115.00 barrier. Buyers’ inability to move higher returned control over the market to sellers. As a result the US dollar eased and erased all its recent gains in the European session. However, the overall picture remained unchanged. The USD/JPY pair was in a flat between 115.00 and 114.50. The spot continued developing above the moving averages in the 4 hours timeframe. The 50 and 100 EMAs pointed higher while the 200-EMA was neutral in the same timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00.
 
MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
Markets eagerly awaited the Fed meeting results due later in the American morning. If the regulator changes the rates the US dollar will revive with its bullishness sending the market upwards.  A close above 115.00 will generate fresh bullish signal for further advance, which could extend to the 116.00 mark. On the other hand, unchanged rates will disappoint investors who may push the greenback to 113.00.
 
13286612.jpg 
 
NZD/USD
 
General overview
 
Current Account data supported the NZD on Wednesday. Besides, the US dollar retracement ahead of the Fed rate announcement gave additional upward impetus to the kiwi. 
Current situation
 
The NZD/USD pair traded in a sideways on Wednesday morning. The price has been moving back and forth between the channel bands since last week. The currency pair remained sandwiched between 0.6950 and 0.6900 during the day. The major bounced off the lower limit of the band in the Asian session and moved higher during the course of the night trades. The spot remained below the moving averages which were all pointing lower in the mentioned chart. The resistance is highlighted 0.6950, the support comes in at 0.6900.
 
MACD formed a signal to rise. The RSI oscillator consolidated within neutral territory. 
 
Trading recommendations
 
The immediate focus now remains on the Fed rate decision. In order to recover some strength, NZD/USD needs to rise back and hold above 0.6950. Conversely, a clear break below 0.6900 would indicate that the bearish phase has resumed.
 
13289684.jpg 
XAU/USD
 
General overview
 
The yellow metal received a minor support from a weaker US dollar on Wednesday.
 
Current situation
 
The night recovery stalled around 1205 dollars per ounce. After reaching the mentioned mark gold futures turned around and slightly eased in the morning. The metal weakened more during the European hours and touched 1200 ahead of the NY opening. According to 4 hours chart the price continued developing well below the moving averages. The 50 and 100 EMAs maintained their bearish slope while the 200-EMA was neutral in the same chart. The resistance is highlighted 1210, the support comes in at 1200 dollars per ounce.
 
MACD grew which indicates the sellers’ positions weakening. RSI was neutral. 
 
Trading recommendations
 
If bulls retain control the price may recover above the 1210 area. The 1200 level loss is needed daily bears for extension towards next strong support at 1190 dollars per ounce.
 
13240533.jpg
 
Brent
 
General Overview
 
The unexpected draw in the US oil stocks saved buyers from further losses. OPEC compliance with agreed production cuts supported crude oil as well.
 
Current situation
 
Brent oil prices were calm on Wednesday after Tuesday’s rally. The price stayed in a tight range between 51.50 and 51.70 the first part of the day. The benchmark remained below the moving averages which were all pointing lower in the 4 hours timeframe. The resistance lies at 52.50, the support comes in at 51.50 dollars per barrel.
 
MACD grew which indicates the sellers’ positions weakening. RSI consolidated within neutral territory.
 
Trading recommendations
 
We cannot rule out the chance that the price would not try to get to the level at 52.50. A move below 51.50 would revive bearishness towards 50.50 dollars per barrel.
 
13262037.jpg
 
DAX
 
General overview
 
European stocks were neutral on Wednesday as traders preferred wait-and-see mode ahead of the Fed meeting.
 
Current situation
 
DAX opened on a positive note. Buyers tried to break above 12000 but failed. A fresh selling interest returned the index below the level to the opening prices. The price bounced off the 50-EMA upwards in the 4 hours chart. The 50, 100 and 200 EMAs kept heading higher in the same timeframe. The resistance exists at 12100, the support stands at 12000.
 
MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI oscillator moved upwards.
 
Trading recommendations
 
Should buyers break above the current resistance our profit target will become 12100.
 
13257941.jpg 
 
NASDAQ
 
General overview
 
 The US futures opened in the green as traders were positive about the Fed decision regarding the rates.
 
Current situation
 
NASDAQ managed to reverse its recent losses in the night and grew to 5395 where an upward momentum lost its strength. The index slightly softened during the European hours.  The price tested the 50-EMA and bounced of upwards in the 4 hours timeframe. The moving averages kept heading higher in the mentioned chart. The resistance is at 5420, the support comes in at 5380.
 
The MACD histogram grew which is a buy signal. The RSI indicator was near overvalued territory, favoring a new move higher.
 
Trading recommendations
 
We maintain our positive outlook. The main goal remains the level 5420.
 
13276373.jpg
 
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#566
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20.03.2017
 
Euro
 
General overview
 
Trade Balance in Italy in the Euroland came in negative on Friday. Meanwhile, the sentiment around the US dollar continued to play a major driver across the markets. The greenback remained around its lows after less hawkish than expected Yellen's remarks.
 
Current situation
 
The euro spiked on Thursday in the late NY session. Buyers pushed the price upwards and broke 1.0750 in the night. Bulls advanced up to 1.0770 later the night where they stopped. The spot spent the night and the morning in a tight range hovering above 1.0750. The neutral stance remained unchanged during the day trades. The 4 hours chart showed that the price continued developing well above the moving averages. The 50-EMA crossed the 200-EMA upwards. The 50 and 100 EMAs kept heading higher while the 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0800, the support comes in at 1.0750.
 
The MACD histogram grew which is a buy signal. RSI consolidated within positive territory.
Trading recommendations
 
The overall outlook remains bullish, for rise towards 1.0800 resistance area. However, we do not exclude a recovery pull back to 1.0720-1.0700.
 
13279782.jpg
 
Pound
 
Current situation
 
The upside bias persisted on Friday. Buyers took a pause in the night. The night correction was just a profit taking action from buyers who loosened their grip for a while. Bulls returned in the morning and pushed the major to the 1.2400 level which stopped their advance. The price crossed the 100-EMA upwards and stayed below the 200-EMA in the 4 hours chart. The 100 and 200 EMAs maintained their bearish slope while the 50-EMA turned upwards in the mentioned chart. The resistance lies at 1.2400, the support comes in at 1.2300.
 
The MACD histogram grew which is a buy signal. RSI consolidated within positive territory.
 
Trading recommendations
 
If the currency pair manages to make a breakout of the 1.2400 level the next target for this spot is the resistance level of 1.2500. However, in view of the overbought conditions a move above 1.2400 seems unlikely. In this potential scenario the GBP/USD pair may return to 1.2300.
 
13290022.jpg 
 
Yen
  
Current situation
 
The US dollar struggled to build on overnight recovery. Buyers tried hard to push the price higher but failed. The pair remained in a consolidation hovering above 113.00. Selling interest emerged in the morning. Traders pushed the price lower and erased all buyers' night gains. The major tested the 200-EMA in the 4 hours timeframe. The 100 and 200 EMAs were neutral while the 50-EMA pointed lower in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.
 
MACD remained at the same level which confirms the strength of sellers. The RSI indicator remained within oversold readings.
 
Trading recommendations
 
The USD/JPY pair may face further downside pressure in the short-term.  When we break the level 113.00 the support 112.00 may come back into play.
 
13299238.jpg 
 
AUD/USD
  
General overview
 
 The Australian calendar was empty on Friday. Investors eagerly await for RBA minutes on Tuesday.
 
Current situation
 
The offered tone around the US dollar helped the AUD to strengthen. Buyers met a barrier at 0.7700 and had to give up their gains. The major bounced off and stopped above 0.7660. A bout of fresh buying pressure emerged in the Asian session on Friday. Buyers returned the AUD/USD pair to 0.7700 erasing all recent losses. According to 4 hours chart the price continued developing well above the moving averages. The 50 and 200 EMAs pointed higher while the 100-EMA was neutral in the same timeframe. The resistance is highlighted 0.7700, the support comes in at 0.7650.
 
MACD remained at the same level which confirms the strength of buyers. The RSI indicator is near overvalued territory, favoring a new move lower.
 
Trading recommendations
 
Once we break above the 0.7700 level, we think that the 0.7750 level will be next. Inability to post fresh gains may lead to some profit taking. The Aussie may weaken to 0.7600-0.7620.
 
13238823.jpg
 
XAU/USD
 
General overview
 
Gold prices remained in the green. The precious metal is in demand in the light of political risks such as Trump’s presidency, Brexit and elections in Europe. 
 
Current situation
 
Gold prices were neutral staying in a flat on Friday. After the recent rally buyers preferred to consolidate their gains. The 4 hours chart showed that the price was trading around the 100 and 200 EMAs. The 100-EMA crossed the 200-EMA downwards. The 50 and 100 EMAs were neutral while the 200-EMA kept pointed higher in the same chart. The resistance is highlighted 1230, the support comes in at 1220 dollars per ounce.
 
The MACD histogram grew which indicates buyers’ strength. RSI consolidated within positive territory.
 
Trading recommendations
 
We still hold the view that gold prices will struggle to climb north to 1230 dollars per ounce.
 
13247015.jpg 
 
Brent
 
General Overview
 
Oil prices were stable ahead of rig count number report on Friday. 
 
Current situation
 
After a sharp less-off on Thursday Brent was trying to build a recovery on Friday. The price spent the night around 51.50 and pushed away from the handle in the European morning. Buyers kept pushing the benchmark upwards during the morning and reached 52.00 in the noon. The price continued developing well below the moving averages which were all pointing lower in the 4 hours chart. The resistance lies at 52.50, the support comes in at 51.50 dollars per barrel.
 
MACD remained at the same level which confirms the strength of sellers. The RSI oscillator moved downwards.
 
Trading recommendations
 
A move above 52.50 dollars per barrel would indicate that immediate downward pressure eased. Should Brent oil prices recover ground and advance beyond the mentioned 52.50 level, the rally can extend in the short term up to 53.50.
 
13259303.jpg 
 
DAX
 
General overview
 
European stocks traded mixed on Friday as investors were focused on G-20 meeting. Meanwhile, the financial stocks while mining sector was on the downside.
 
Current situation
 
DAX gapped lower at the open. The index maintained its ask tone a few hours after the gap. DAX almost reached 12000 when the benchmark reversed its direction. The index rallied and reached 12100 in the late European session. The price was above the moving averages in the 4 hours chart. The 100 and 200 EMAs kept heading higher while the 50-EMA was neutral in the mentioned timeframe. The resistance exists at 12100, the support stands at 12000.
 
MACD decreased which indicates the buyers’ positions weakening. RSI rebounded from the overbought readings.
 
Trading recommendations
 
The index now has the potential to post more gains. Our profit targets will be 12100 and 12200.
 
 13257255.jpg
 
NASDAQ
 
Current situation
 
NASDAQ opened on a positive note on Friday. The buyers managed to lead the price from 5420 to 5440 where the upward impetus lost strength. The benchmark eased a bit and returned to 5420 ahead of the NY session opening. According to 4 hours chart the price continued developing well above the moving averages which were all pointing higher. The resistance is at 5460, the support comes in at 5420.
 
The MACD histogram grew which is a buy signal. The RSI oscillator moved downwards.
 
Trading recommendations
 
Bulls keep focus at the resistance level of 5460.
 
13269543.jpg
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#567
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21.03.2017
 
Euro
 
General overview
 
The euro ignored positive Producer Price Index in Germany. The single currency weakened amid the US dollar recovery on Monday. The market is focused on the Presidential debates in France. Weidmann's speech (German Bundesbank President) will attract investors’ attention as well.
 
Current situation
 
The EUR/USD remained in bulls' hands on Monday. Buyers broke the level 1.0750 in the night and stopped after reaching 1.0777. The majors stayed neutral to negative flirting with 1.0750 during the European hours. The euro slightly weakened ahead of NY opening. The price was above the moving averages in the 4 hours timeframe. The 50 and 100 EMAs kept heading higher while the 200-EMA was neutral in the same chart. The resistance is at 1.0800, the support comes in at 1.0750.
 
MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move lower.
 
Trading recommendations
 
The EUR/USD pair stays in a short-term upward channel. Buyers pushed the price to its upper limit the other day. In view of the overbought conditions a move towards the lower limit at 1.0700 is a possible scenario now. 
 
13318600.jpg
 
Pound
 
General overview
 
The pound took advantage of a broad based US dollar weakness and extended its winning steak on Monday. Investors waited for Haldane’s speech later the day on Monday and UK’s Consumer Price Index on Tuesday hoping to get some fresh drivers.
Current situation
 
The GBP/USD pair maintained its bid tone on Monday. Buyers pushed the price higher in the night session and hit fresh monthly highs above 1.2400. The major gave up its fresh gains in the noon. The currency pair weakened and returned below 1.2400 ahead of the NY opening. The pair bounced off the 200-EMA upwards in the 4 hours chart. The 100 and 200 EMAs maintained their bearish slope while the 50-EMA pointed higher in the mentioned timeframe. The resistance lies at 1.2400, the support comes in at 1.2300.
 
The MACD indicator continued consolidating within overbought levels. RSI consolidated within positive territory.
 
Trading recommendations
 
The overall picture is bullish. However, the major is overbought. As the most probable scenario, we consider a move downwards towards 1.2350. The spot will continue moving higher if the cable remains above 1.2400. 
 
13324744.jpg
 
Yen
 
General overview
 
Japanese markets were closed amid a public holiday - Vernal Equinox Day.
 
Current situation
 
The pair preserved its undertone on Monday. The currency pair remained in a downward channel. The spot found some support close to its lower limit in the Asian session. The pair bounced off 112.50 and reversed some losses in the morning. The major maintained its bid tone afterwards and approached 113.00 ahead of the NA opening. According to 4 hours chart the price continued developing well below the moving averages. The 50-EMA kept heading lower while the 100 and 200 EMAs were neutral in the same timeframe. The resistance is highlighted at 113.00, the support comes in at 112.00.
 
MACD grew which indicates the sellers’ positions weakening. The RSI indicator held within oversold readings, and headed now north.
 
Trading recommendations
 
In order to recover some strength, USD/JPY needs to rise back and hold above 113.00. However, we see little potential for a USD/JPY rally and expect a fresh selling pressure in the short term.
 
13323720.jpg 
 
NZD/USD
 
General overview
 
The NZD/USD pair extended its gains on Monday following Westpac consumer survey. Even though the index came in a bit lower than expected investors remained positive. 
 
Current situation
 
The kiwi opened on a stronger note on Monday. The price was growing the whole night and pierced the level 0.7050 in the morning. However, a further upside appeared to lack momentum. The major reversed its direction and returned below 0.7050 in the noon. The NZD extended its weakness afterwards advancing towards 0.7000. The 4 hours chart showed that the NZD/USD pair broke the 100-EMA upwards. The 100 and 200 EMAs kept heading lower while the 50-EMA turned neutral in the same timeframe. The resistance is highlighted 0.7050, the support comes in at 0.7000.
 
The MACD histogram grew which indicates buyers’ strength. The RSI indicator lost upward strength and moved downwards.
 
Trading recommendations
 
A move below 0.7000 would revive bearishness towards 0.6950.
 
13322696.jpg
 
XAU/USD
 
General overview
 
Gold prices remained strong vs. the US dollar after less hawkish than expected Yellen’s remarks. Trump’s speech came in the first place on Monday afternoon.
 
Current situation
 
Gold prices remained in the green zone on Monday. Bulls broke 1230 in the Asian session and climbed to 1235 where they lost steam in the European morning. The pair hovered above the level till the NY session opening. According to 4 hours chart the spot bounced off the 100 and 200-EMAs upwards. The 100-EMA crossed the 200-EMA downwards. The 50 and 200 EMAs pointed higher while the 100-EMA turned downwards in the same chart. The resistance is highlighted 1240, the support comes in at 1230 dollars per ounce.
 
The MACD indicator continued consolidating within overbought levels. The RSI indicator remained within positive territory.
 
Trading recommendations
 
A pullback or consolidation is expected in the market in the near term. Below 1230, XAU/USD will likely target 1220 support.
 
13334984.jpg 
 
Brent
 
General Overview
 
A growing US drilling activity kept on weighing on oil prices. The growing activity reduces impact of the OPEC and non-OPEC countries agreement to cut production.
 
Current situation
 
Brent oil prices gapped downwards at the daily open. The price jumped from 51.58 to 51.50 dollars per barrel. Brent remained neutral the whole night staying around the tested handle. Black gold extended its weakness in the European session when sellers pushed the price to 51.00. The benchmark was below the moving averages which were all pointing lower in the 4 hours chart. The resistance lies at 51.50, the support comes in at 50.50 dollars per barrel.
 
The MACD histogram decreased which is a sell signal. RSI remained within neutral territory. 
 
Trading recommendations
 
Brent may continue to trade in negative ground in the short-term. A breakout of 50.50 would aim sellers for 49.50 dollars per barrel.
 
13331912.jpg
 
DAX
 
General overview
 
European stocks moved lower on Monday following oil prices decline and downbeat data from banking stocks.
 
Current situation
 
DAX opened lower on Monday. The price pushed away from 12100 at the open and posted a session low at 12030. The downward momentum faded right after that, bulls regained control and erased all bears' gains. The benchmark returned to the opening prices in the noon on Monday. The 4 hours chart showed that DAX remained above the moving averages which were all pointing higher. The resistance exists at 12100, the support stands at 12000.
 
MACD was at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a new move higher.
 
Trading recommendations
 
DAX is still in an upward channel. The upward trend line is around 12000. A break below the handle will soften an upward pressure. Sellers may reach 11900 in this case. A rebound here will return bullishness in its place. Buyers might want to reverse losses pushing the price to 12200.
 
13343176.jpg
 
S&P500
 
Current situation
 
Bears had a ball on Monday. The offered tone around S&P500 pushed the index lower. Traders moved away from 2380 and reached 2370 in the night. After reaching 2370 the index stopped and spent European trades in a narrow range around the mentioned mark. The price stayed around the 50 and 100 EMAs in the 4 hours timeframe. 50-EMA crossed the 100-EMA downwards. 50, 100 and 200 EMAs maintained their bullish slope in the mentioned chart. The resistance is at 2380, the support comes in at 2360.
 
MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
We await a break below 2370 to trigger another leg lower towards 2360.
 
13349320.jpg
 
 
 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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#568
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22.03.2017
 
Euro
 
General overview
 
The euro strengthened on Tuesday as tensions around the French election calmed down. 
 
Current situation
 
The growing selling pressure around the US dollar allowed the euro to extend its gains. Buyers reversed their recent losses in the night and managed to break above 1.0750. Bulls kept pushing the price higher afterwards and reached 1.0800 in the European morning. The level did not stop the upward momentum and the single European currency extended its bullishness till the NY session opening. The 4 hours chart showed that the major continued developing well above the moving averages. The 50 and 100 EMAs maintained their bullish slope while the 200-EMA stayed neutral. The 100-EMA tested the 200-EMA in the same chart. The resistance is at 1.0800, the support comes in at 1.0750.
 
The MACD histogram grew which is a buy signal. The RSI indicator was near overvalued territory, favoring a new move higher.
 
Trading recommendations
 
We believe that this is essentially a “buy only” market at the moment. A sharp breakout above 1.0800 could spark a further incline towards 1.0850. 
 
13361533.jpg 
 
Pound
 
General overview
 
The pound grew when UK February CPI jumped beyond expectations. Mark Carney’s speech was in focus on Tuesday as well. 
 
Current situation
 
After a directionless stance during the Asian session the pound became active in the morning. The price spiked in the European morning. Buyers broke 1.2400 and advanced further afterwards. The upward momentum lost steam a few pips below 1.2500. The major crossed the 200-EMA upwards in the 4 hours timeframe. The 100 and 200 EMAs kept heading lower while the 50-EMA maintained its bullish slope in the mentioned chart. The resistance lies at 1.2400, the support comes in at 1.2300.
 
MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved upwards.
 
Trading recommendations
 
A further extension to 1.2500 is not ruled out. If buyers gather enough steam they can reach 1.2550 in the coming days. 
 
13305210.jpg 
 
Yen
 
Current situation
 
The US dollar managed to recover some ground during the night session on Tuesday. However, the recovery was short-lived, a selling pressure around the greenback emerged in the morning and returned the major to a downside. The spot edged lower and erased all its night gains during the European session. The pair reached opening prices ahead of the NY opening. The major continued developing well below the moving averages in the 4 hours chart. The 100 and 200 EMAs were neutral while the 50-EMA kept heading lower in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.
 
MACD declined which indicates the sellers’ positions strength. RSI returned to the oversold readings. 
 
Trading recommendations
 
In the 4 hours chart, the technical picture favors a downward extension. The nearest target remains the support level 112.00.
 
13313402.jpg 
 
USD/CAD
 
General overview
 
The Canadian dollar strengthened ahead of Canadian Retail Sales report. Moreover, the overall US dollar weakness supported the major. Meanwhile, traders are looking forwards to Fed representative speeches on Thursday. 
 
Current situation
 
The USD/CAD left its consolidation phase and edged lower on Tuesday. Sellers broke 1.3330 in the morning and continued pushing the spot lower afterwards. The major preserved its ask tone in the second part of the day. According to 4 hours chart the price was below the 100-EMA. The 100 and 200 EMAs kept pointed higher while the 50-EMA maintained its bearish slope in the same timeframe. The resistance is highlighted 1.3330, the support comes in at 1.3260.
 
MACD declined which indicates the sellers’ positions strengthening. RSI headed south. 
 
Trading recommendations
 
A firm break below 1.3330 handle could trigger fresh weakness for attack at 1.3260.
 
13327738.jpg
 
XAU/USD
 
General overview
 
Gold remained bullish on Tuesday amid a broad based US dollar weakness. The precious metal received support from the uncertainty around French elections.
 
Current situation
 
Gold retained a neutral, short-term undertone on Tuesday. The precious metal was sandwiched between 1228 and 1235 during the night and day trades. The metal reversed some Monday's losses during the Asian hours. However, bulls just had enough strength to break 1230. The spot stayed around the level afterwards. The XAU/USD pair bounced off 200-EMA upwards in the 4 hours timeframe. The 100-EMA crossed the 200-EMA downwards. The 50-EMA and the 200-EMA pointed higher while the 100-EMA kept heading lower in the mentioned chart. The resistance is highlighted 1230, the support comes in at 1220 dollars per ounce.
 
MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed near overbought levels, favoring a new move higher.
 
Trading recommendations
 
Should the gold recover ground and advance beyond the 1230 level, the rally can extend in the short term up to 1240 first.
 
13322618.jpg 
 
Brent
 
General Overview
 
Oil prices remained positive on the news that OPEC may extend its supply cut. Investors waited for U.S. crude stocks figures late in the session to get fresh guidelines.
 
Current situation
 
Monday’s recovery stalled at 51.80 dollars per barrel in the night. Brent oil futures remained rather unchanged during the night trades. The European morning brought some buying interest. The benchmark left the Asian flat and climbed to 52.25 where the upward impetus lost its momentum. According to 4 hours chart black gold tested the 50-EMA upwards. The moving averages kept heading lower in the same timeframe. The resistance lies at 52.50, the support comes in at 51.50 dollars per barrel.
 
MACD grew which indicates the sellers’ positions weakening. RSI remained within neutral territory.
 
Trading recommendations
 
Buyers do not have enough strength to move Brent higher. Failure to hold above the 51.50 mark risks a slide to the support level of 50.50 dollars per barrel.
 
13345146.jpg
 
DAX
 
General overview
 
DAX remained positive on Tuesday following the growth of financial and Oil & Gas sectors.
 
Current situation
 
DAX remained flat on Tuesday. The index was confined to a well limited range between 12100 and 12050. The benchmark gapped higher at the open, however, the upward trajectory stalled at the upper limit of the range. The price pulled back afterwards but remained around 12100. The index continued developing well above its moving averages in the 4 hours timeframe. The 50, 100 and 200 EMAs maintained their bullish slope in the mentioned chart. The resistance exists at 12100, the support stands at 12000.
 
MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
If the price succeeds and fixes below the level of 12000, the market may start a new descending correction towards 11900 area. If the level stands DAX will aim at 12200.
 
13358458.jpg
 
NASDAQ
 
General overview
 
Wall Street maintained its positive mode on Tuesday awaiting for Fed speakers late in the American session. 
 
Current situation
 
NASDAQ remained around its fresh highs on Tuesday. The index reversed its recent losses in the Asian session. Traders broke the 5420 level in the night and hovered above the handle in the morning and the first part of the day. According to 4 hours chart the benchmark remained above the moving averages which were all pointing higher. The resistance is at 5460, the support comes in at 5420.
 
The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed near overbought levels.
 
Trading recommendations
 
We expect a limited pull back to 5380 where the upward trend line lies. If the support level of 5420 breaks, the index may fall further that should send this market looking for the 5380 level. If the line stands the index will refresh its highs testing 5460.
 
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 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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ValdisTF

ValdisTF

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"Fort Financial Services"- fundamental and technical analysis.
 
24.03.2017
 
Euro
 
General overview
 
Consumer Confidence Survey in Germany came in below expectations weighing on the euro. The US dollar weakened as well ahead of Trumpcare bill vote scheduled later in the NA session. Besides, traders waited for J.Yellen’s speech alongside with other Fed officials. Investors hoped to get fresh hints regarding the next Fed rate hike action. 
 
Current situation
 
The EUR/USD remained unchanged on Thursday morning. The spot remained in an upward channel approaching its lower limit. The euro bounced from 1.0800 and headed lower in the European morning. The 4 hours chart showed that the spot continued developing well above the moving averages. The 50 and 100 EMAs kept heading higher while the 200-EMA remained neutral in the mentioned timeframe. The resistance is at 1.0800, the support comes in at 1.0750.
 
MACD decreased which indicates the buyers’ positions weakening. RSI was neutral. 
 
Trading recommendations
 
The ongoing pull back could be attributed to some profit taking from bulls. The euro may decline to 1.0750 where the upward trend line lies. The line may reject the major upwards. If bulls retain control the 1.0800 and 1.0850 levels could become an attractive price for investors.  
 
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Pound
 
General overview
 
The pound strengthened on Thursday in the light of a strong Retail Sales report.
 
Current situation
 
The pound extended its gains on Thursday. Traders held the cable around 1.2500 the whole night flirting with the level. Bulls made another attempt to break through post London open. This attempt like the previous ones was unsuccessful. The price continued developing well above the moving averages in the 4 hours chart. The 50 and 100 EMAs pointed higher while the 200-EMA was neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.
 
MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels.
 
Trading recommendations
 
If the cable manages to consolidate above the 1.2500 mark the next target for this pair is the resistance level of 1.2600.
 
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Yen
 
General overview
 
The US dollar weakened vs. the yen amid growing uncertainty over Trump's ability to deliver his Health Care promises. 
 
Current situation
 
The Wednesday’s recovery stalled at 111.60. After posting the session high the major reversed its direction. Sellers regained control and pushed the US dollar lower in the night. The major was declining the whole night and the morning reaching 111.00 in the mid-European session. According to 4 hours chart the pair USD/JPY continued developing well below the moving averages. The 50-EMA crossed the 100 and 200 EMAs downwards. The moving averages pointed lower in the mentioned chart. The resistance is highlighted at 112.00, the support comes in at 111.00.
 
MACD declined which indicates the sellers’ positions strength. The RSI oscillator moved downwards.
 
Trading recommendations
 
USD/JPY is having difficulties to go higher. We still hold the view that the pair will likely to extend its losses. A downtrend will be continued as soon, as the USD/JPY pair drops below the support level 111.00.
 
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NZD/USD
 
General overview
 
The kiwi stayed unchanged after the RBNZ left its rates unchanged at a record low of 1.75%.
 
Current situation
 
The NZD/USD pair remained in a narrow sideways channel on Thursday. The price stayed between 0.7050 and 0.7025 going up and down between levels. The 4 hours chart showed that the spot stayed above the 100 and 50 EMAs and remained below the 200-EMA. 50-EMA crossed the 100-EMA upwards. The 100 and 200 EMAs maintained their bearish slope while the 50-EMA kept heading higher. The resistance is highlighted 0.7050, the support comes in at 0.7000.
 
MACD slightly decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. 
 
Trading recommendations
 
We cannot rule out the chance that the pair would try to get to the level at 0.7100 in the nearest future.
 
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XAU/USD
 
General overview
 
Gold prices retreated from three week high awaiting for vote on the American Health Care Act in the US Congress.
 
Current situation
 
Buyers attempt to reclaim 1250 dollars per ounce on Wednesday failed. The price just touched the level and immediately pulled back. The precious metal reached the 1245 in the night and stayed around the mark the first part of the day. According to 4 hours chart the gold price continued developing well above the moving averages. The 50-EMA crossed the 100-EMA upwards. The 50 and 200 EMAs maintained their bullish slope while the 100-EMA kept heading lower in the mentioned chart. The resistance is highlighted 1250, the support comes in at 1240 dollars per ounce.
 
MACD decreased which indicates the buyers’ positions weakening. The RSI indicator was near overvalued territory, favoring a new move higher.
 
Trading recommendations
 
All eyes are right now at the support level 1240 dollars per ounce. If buyers failed to break above the current resistance sellers will regain control. If buyers succeed to retake the hurdle out next level to focus on is 1250.
 
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Brent
 
General Overview
 
Oil prices ignored the U.S. inventories growth awaiting for the US oil rig count numbers on Friday. 
 
Current situation
 
Brent gapped upwards in the early Asians session and jumped to 51.00 where the benchmark remained the first part of the day. Oil prices stayed below the moving averages which were all pointing lower in the 4 hours chart. The resistance lies at 51.50, the support comes in at 50.50 dollars per barrel.
 
MACD grew which indicates the sellers’ positions weakening. The RSI indicator lost upward momentum and moved downwards.
 
Trading recommendations
 
We believe the bearish momentum will persist. A firm break below 50.50 handle could trigger fresh weakness for attack at 49.50 dollars per barrel.
 
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DAX
 
General overview
 
European stocks carried more cautious trade on Thursday as markets were concerned whether Trump would be able to gather enough support for his healthcare bill.
 
Current situation
 
DAX traded flat on Thursday staying in a tight range above 11900. Any buyers' attempt to push the benchmark higher faced selling pressure. The 4 hours chart showed that the index was sandwiched between the 100-EMA and the 200-EMA. The 50 and 100 EMAs pointed lower while the 200-EMA maintained its bullish slope in the same timeframe. The resistance exists at 12000, the support stands at 11900.
 
MACD remained at the same level which confirms the strength of sellers. RSI headed downwards which confirms the strength of sellers. 
 
Trading recommendations
 
The level 11900 is an important defense line for buyers. A break below the level will open the way to 11800. If the level stands the DAX index will reverse its recent losses growing to 12000 – 12050.
 
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NASDAQ
 
General overview
 
Wall Street held still ahead of Congress’ vote on Trump’s healthcare bill later the day.
 
Current situation
 
The index extended its recovery in the Asian session. Bulls reached 5380 where they lost steam. NASDAQ turned around and started to lose ground in the morning. The benchmark eased a bit in the first part of the day. The price tried to grow above the 100-EMA but failed and returned below it in the 4 hours chart. The 50 and 100 EMA were neutral while the 200-EMA kept heading higher in the same chart. The resistance is at 5380, the support comes in at 5340.
 
MACD grew which indicates the sellers’ positions weakening. The RSI indicator lost upward strength and moved downwards.
 
Trading recommendations
 
In the 4 hours chart, the technical picture favors a downward extension towards the support level of 5340.
 
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 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
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