"Fort Financial Services"- fundamental and technical analysi

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Tue Dec 27, 2016 2:44 pm

"Fort Financial Services"- fundamental and technical analysis.

28.12.2016

Euro

General overview

The dollar strengthened on Tuesday when some traders decided to take their chance to trade before New Year holidays.

Current situation

The pair maintained a neutral stance trading around Friday's closing levels on Tuesday. The euro struggled around 1.0450 during the day. The 4 hours chart showed that the price tested the 50-EMA. All moving averages maintained their bearish slope. The resistance is at 1.0450, the support comes in at 1.0400.

MACD indicator is at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. RSI remained within neutral territory.

Trading recommendations

An advance beyond 1.0450 will help buyers to extend their gains towards 1.0500. On the other hand the price could fall to 1.0350 if sellers return control.

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Pound

General overview

The dollar strengthened versus the pound on Tuesday due to low volatility as British markets were closed amid Christmas celebration.

Current situation

The pound was in a consolidation during the first part of Tuesday. The pair was hanging below 1.2300 before a fresh selling interest weighed on the major. Traders pushed the pair lower towards last week low at 1.2227. According to the 1 hour chart the price bounced off the 50-EMA downwards. The moving averages kept heading lower in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD declined which indicates the sellers’ positions strengthening. The RSI indicator remained within oversold readings.

Trading recommendations

If the bearish tone persists we expect a breakout of the level 1.2200 in the short-term. If the pair manages to make a breakout the next sellers’ target for this pair is the support level of 1.2100.

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Yen

General overview

The yen ignored a bunch of Japanese inflation data staying around its recent lows on Tuesday. The BoJ published National Consumer Price Index, Unemployment Rate and Overall Household Spending.

Current situation

The overall bullish structure remained intact on Tuesday. USD/JPY traded sideway yesterday amid low liquidity due to Christmas holidays. The price was flirting with the 50-EMA in the 4 hours chart. The pair was between the 50 and the 100-EMAs during the day. The 50, 100 and 200 EMAs pointed higher. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD indicator is 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

USD/JPY is having difficulties to go any higher. The pair now seems to be heading towards its immediate support near 116.00. Meanwhile, we believe the pair will continue a weak trading until the end of the week.

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USD/CAD

General overview

Canadian markets were closed in observance of Boxing Day. Meanwhile, last week's GDP and CPI releases seem to have renewed speculations that the Canadian regulator may ease its monetary policy further in the nearest time.

Current situation

Buyers are still in control holding the pair around 6 week highs. The U.S. dollar reversed some of its losses when traders moved the price from 1.3500 to 1.3540. The upward momentum faded around the current hurdle as buyers met sellers' resistance. USD/CAD remained above the moving averages in the 4 hours chart. We note that the 50-EMA crossed the 100 and the 200-EMA upwards. The 100 and the 200-EMA were neutral while the 50 EMA pointed higher. The resistance is at 1.3540, the support comes in at 1.3470.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator remained within overvalued readings.

Trading recommendations

A failure to break above 1.3540 may lead to a downward correction which will start as soon, as the pair drops below the support level 1.3470. The potential sellers’ target is 1.3400. If buyers succeed to make higher the pair may extend their gains to 1.3589.

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XAU/USD

General overview

Gold prices grew in the light market ahead of the New Year holidays.

Current situation

Gold prices were able to recover on Tuesday. The price started the day with a slow growth from last week lows. The pair accelerated ahead of the Europe opening when the yellow metal spiked through 1140 towards 1150 dollars per ounce. After testing the level prices moved back and returned to 1140 at the start of the NY session. According to the 4 hours chart the price broke the 50-EMA and tested the 100-EMA. XAU/USD stayed between the 50 and the 100-EMAs during the day. All moving averages pointed lower. The resistance exists at 1140, the support stands at 1130 dollars per ounce.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. The RSI indicator remained within overvalued readings.

Trading recommendations

The overall outlook remains bearish, for decline towards 1130 handle area. Buyers need to hold above 1140 to extend their bullishness.

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Brent

General overview

Oil prices traded higher on Tuesday on expectations over the first output cut deal between OPEC and non-OPEC members in 15 years which will begin on Sunday.

Current situation

Sellers failed to regain 54.50 level on Tuesday. Having faced rejection the price turned around and returned to a growth. Brent was slowly moving upwards towards 55.50 dollars per barrel during the European session on Tuesday. The benchmark tested the level at the beginning of the New York session. The 4 hours chart showed that the price bounced off the 100-EMA and broke the 50-EMA upwards. The price advanced away from the moving averages. The 100 and the 200-EMAs pointed higher while the 50-EMA was neutral in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD indicator is at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. The RSI indicator left the neutral territory upwards.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. In the scenario where the buyers keep control the benchmark will break above 55.50 and advance towards 56.50, en route 57.50 dollars per barrel.

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DAX

General overview

European shares inched higher on Tuesday after Christmas holidays. Meanwhile Parmalat shares were on the upside when France's Lactalis launched a buyout offer for shares in Italian group Parmalat.

Current situation

The index traded range-bound to higher, staying in a tight range above 11400 on Tuesday. The price tested the 50-EMA in the 1 hour chart. DAX was above the moving averages which kept heading higher in the same chart. The resistance exists at 11500, the support stands at 11400.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator remained within overvalued readings.

Trading recommendations

The bullish trend remained intact. A break above 11500 would open the way to 11600.

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NASDAQ

General overview

Wall Street futures opened higher getting support from energy stocks.

Current situation

After a consolidation around 4940 during the day the index rallied towards 4980 at the beginning of the NY session. The benchmark kept growing higher after the break and headed towards 5020. According to the 4 hours chart the price bounced from the 50-EMA. The moving averages maintained their bullish slope. The resistance is at 5020, the support comes in at 4980.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator left the neutral territory and headed upside.

Trading recommendations

A bullish tone prevailed in the 4 hours chart. After a close above the resistance at 4980 the price may extend its growth to 5020.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Wed Dec 28, 2016 1:53 pm

"Fort Financial Services"- fundamental and technical analysis.

29.12.2016

Euro

General overview

The dollar strengthened across the board on Wednesday. The dollar is strong on the back of the recent U.S. upbeat data, Fed's plans to hike the rate in 2017 and Trump’s pledges to rise fiscal spending to revive the US economic growth.

Current situation

The pair erased its recent gains on Wednesday. A fresh bout of selling sent the euro to the mark at 1.0450 in the early European trades. After breaking the level sellers took a breath gathering steam to push the price lower. Bears extended their gains in the North American session when the pair broke below 1.0400. The price broke all the moving averages downwards in the 1 hour chart. The 50 and the 100-EMAs are turning downwards while the 200-EMA is still heading north in the same chart. The resistance is at 1.0400, the support comes in at 1.0350.

MACD remained at the centerline. RSI left the neutral territory and advanced south which confirms the current downward readings.

Trading recommendations

The euro remains exposed to downside. If the price consolidates below 1.0450, it may resume its decline with the target at 1.0400, en route 1.0350.

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Pound

General overview

Renewed fears of a hard Brexit coupled with the recent UK's data (Mortgage Approvals came in worse-than-expected) weighed on the pound.

Current situation

An attempt to reclaim 1.23 failed. The price bounced from the level and headed south. Downside risks remain high now as the dollar attracts fresh buying interest across the board. Meanwhile, GBP/USD approached the immediate support at 1.22 ahead of the NY opening. The 1 hour chart showed that the price bounced from the 100-EMA and headed south breaking the 50-EMA on its way downwards. The moving averages maintained their bearish slope in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD remained at the same level which confirms the strength of sellers. The RSI indicator remained within oversold readings.

Trading recommendations

A convincing move below 1.22 is likely to trigger additional downside pressure. Sellers may drag the pound lower towards 1.2150.

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Yen

General overview

The dollar strengthened versus the yen on the back of the mixed data from Japan. Industrial Production grew less than it was expected. On the other side Retail Trade figures beat all investors’ expectations.

Current situation

The dollar rebounded from its recent low at 117.00 and slowly trended upwards on Wednesday. A fresh buying interest around the greenback supported the pair sending it to fresh multi-month highs. According to the 1 hour chart the price broke the 50-EMA upwards. The 50, 100 and 200 EMAs kept pointing higher. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD was at the centerline. RSI left the neutral territory and moved north which confirms the current upward momentum.

Trading recommendations

The pair now has the potential to post more gains but first buyers need to retake the 118.00 hurdle. After breaking the level the way towards 119.00 will be opened.

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AUD/USD

General overview

The Australian dollar remained under pressure on expectations of the Fed's policy tightening in 2017 and due to the recent US upbeat data.

Current situation

An attempt to extend bullishness above 0.7200 failed. The pair was unable to climb higher and retreated almost immediately after posting a daily high at 0.7220. The Aussie found fresh offers above the level 0.7200 when sellers dragged AUD/USD below the level. The pair continued moving lower after the break approaching the recent lows at 0.7159. The price bounced off the 50-EMA downwards and headed away from the moving averages in the 4 hours chart. The moving averages kept pointing lower in the mentioned timeframe. The resistance is at 0.7200, the support comes in at 0.7150.

The MACD histogram decreased which indicates the sellers’ strength. RSI turned south which confirms the current downward momentum.

Trading recommendations

The bearish trend remained intact on Wednesday. If the price fixates below the support 0.7200, it may continue its downward trajectory in the short term. The potential sellers’ targets are 0.7150 and 0.7100.

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XAU/USD

General overview

Gold remained under pressure versus the U.S dollar on Wednesday. However, trades were low volatile amid the upcoming holidays.

Current situation

Gold traded above the 1140 level on Wednesday morning. Buyers, however, failed to keep control over the market which turned negative in the European session. Sellers drove the pair downwards through 1140 and stopped at the mark 1136 dollars per ounce. The price tested the 50-EMA in the 1 hour chart. The 50 and the 100-EMAs crossed the 200-EMA upwards in the same chart. The resistance exists at 1140, the support stands at 1130 dollars per ounce.

MACD traded to the upside. The RSI indicator left the overvalued territory.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. We would be selling the XAU/USD pair only if the price stays below 1140. Then 1130 seems the next probable bearish target.

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Brent

General overview

Brent extended its gains on Wednesday as markets hopes the OPEC members will keep to their agreement to cut production next year.

Current situation

Brent held a bullish tone on Wednesday. The benchmark extended its rally. Buyers pushed the price to the 56.50 hurdle. Oil prices failed to retake the level in the European session. After rolling back they tried again in the North American one. The price retested the level at the beginning of the NY session but failed to make higher. According to the 4 hours chart the price kept hovering above the moving averages which all pointed higher. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed near overbought levels, favoring a new move lower.

Trading recommendations

The overall outlook remains bullish, for a rise towards 57.50 dollars per barrel resistance area.

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DAX

General overview

European shares traded mixed on Wednesday. FTSE was back after a long week-end holidays. The index grew as mining sector led shares higher.

Current situation

DAX struggled to attempt fresh gains on Wednesday. Attempts to develop an upward impetus faded and the benchmark traded modestly flat around 11470 level. The 1 hour chart showed that the price tested the 50-EMA. The 50-EMA was neutral while the 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 11500, the support stands at 11400.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator remains within overvalued readings.

Trading recommendations

We will place buy orders if the price does a breakout at the resistance level of 11500. The index might extend the recovery towards 11600. On the other hand a move below 11400 may generate negative signal and risk further easing towards 11300.

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S&P500

Current situation

A correction during the European session lost its steam around 2267. The sentiment turned negative and the price dropped lower at the beginning of the NY session. Sellers broke the level 2260 and advanced further heading towards 2240. The price broke the 50-EMA in the 4 hours chart. After the break the benchmark headed towards the 100-EMA which appeared to be a solid support for the index. The 50-EMA turned neutral while the 100 and the 200-EMAs kept heading higher in the same chart. The resistance is at 2260, the support comes in at 2240.

MACD indicator was at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. The RSI indicator remained within overvalued readings.

Trading recommendations

After a close above the resistance at 2280 the price may extend its growth to 2300. However, bearish views are more popular now. Sellers may drag the price lower if the fixate below 2260. The level 2240 is the first sellers’ target, en route 2220.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Mon Jan 02, 2017 3:43 pm

"Fort Financial Services"- fundamental and technical analysis.

03.01.2017

Euro

General overview

The euro rallied amid profit-taking on Friday. However, the US dollar remained strong on expectations that new Trump's fiscal policy will boost inflation and will increase chances of the Fed's rate hikes in 2017.

Current situation

Bulls temporally returned in town. The euro opened green against the dollar on Friday. The price rallied and broke 1.0550, 1.0600 in the Asia session. The currency pair met a barrier at 1.0650 which rejected it downwards. The single European currency sharply dropped after testing the level and returned to 1.0550 - 1.0550 region afterwards. The ongoing recovery could be attributed to some profit taking from bears who prefer closing their positions before the end of the year. The 4 hours chart showed that the price broke the 50 and the 100-EMAs upwards and tested the 200-EMA in the early trades. The euro failed to regain the 200-EMA and bounced off the moving ahead of the NY opening. The 100 and 200-EMAs kept pointing lower while the 50-EMA was neutral on Friday. The resistance is at 1.0550, the support comes in at 1.0500.

The MACD histogram grew which indicates buyers’ growing strength. The RSI indicator stayed near overvalued territory, favoring a new move lower.

Trading recommendations


After a close above the resistance at 1.0550 the pair EURUSD may extend its recovery to 1.0600. On the other hand a failure to advance beyond the current hurdle will negate the upward pressure.

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Pound

General overview

Despite a thin market the pound had a positive day on Friday. The major recovery was limited as the dollar was strong on expectations that the US regulator would keep its policy tightening in 2017.

Current situation

The pound extended its rebound from the recent lows on Friday. Buyers broke the level 1.23 with London opening and advanced towards 1.2400. The upward impetus faded around the level. GBP/USD turned around and declined erasing its recent gains. According to the 4 hours chart the price tested the 50-EMA. The 100-EMA crossed the 200 EMA downwards. The moving averages maintained their bearish slope. The resistance lies at 1.2400, the support comes in at 1.2300.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. The RSI indicator left the neutral territory and headed upwards.

Trading recommendations

In the scenario where the buyers keep control the pair will advance to 1.2400. Otherwise a close below 1.23 will renew bearish pressure. Sellers may drive prices to 1.22.

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Yen

General overview

The dollar held a bullish tone on Friday as investors were preparing for the New Year holidays and started to close their short positions.

Current situation

USD/JPY remained in bulls' hands on Friday. The U.S. dollar opened green against the yen and extended its upside impulse in the European session. Buyers led the price from the recent lows at 116.00 to 117.00. The pair touched the level in the mid-Europe session but failed to break it. The price bounced off the 100-EMA and approached the 50-EMA in the 4 hours chart. The 100 and the 200-EMAs pointed higher while the 50-EMA turned lower. The resistance is highlighted at 117.00, the support comes in at 116.00.

MACD traded to the downside. The RSI left oversold readings and entered the neutral territory.

Trading recommendations

Once we break above 117.00, we think that the 118.00 level will be next.

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AUD/USD

General overview

The Australian dollar got a minor support on the back of a positive Private Sector Credit which beat investors’ expectations.

Current situation

The Aussie momentum began to fade when buyers met a barrier at 0.7250. The currency pair faced a downward rejection and rebounded from the level. Sellers dragged prices towards the immediate support at 0.7200. The 4 hours chart showed that the price broke the 50-EMA upwards. After the break the price stayed around the 50-EMA flirting with the moving till the end of trades. All moving averages kept pointing lower. The resistance is at 0.7250, the support comes in at 0.7200.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. RSI oscillator stayed near overbought levels.

Trading recommendations

The technical picture presents a bearish tone. As the most probable scenario, we consider further moving downwards towards the level at 0.7150.

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XAU/USD

Current situation

Gold recovery stalled around 1160. The metal lost its upside momentum amid renewed greenback buying interest. After a brief consolidation phase in the early Europe the price left three weeks highs and slowly headed south. According to the 4 hours chart the yellow metal broke the 50 and the 100-EMAs upwards. The 100 and the 200-EMA maintained their bearish slope while the 50-EMA turned higher.
The resistance exists at 1160, the support stands at 1150 dollars per ounce.

The MACD histogram decreased which indicates sellers are gaining strength. RSI consolidated within positive territory.

Trading recommendations

A daily close below 1150 may suggest gold further weakness. The XAUUSD pair may weaken towards 1120 dollars per ounce.

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Brent

Current situation

Oil prices gave up their recent highs and moved lower. The price tested 56.50 ahead of the US session opening on Friday. According to the 1 hour chart the price tested the 50-EMA ahead of the NY opening on Friday. The moving averages maintained their bullish slope in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator was near overvalued territory during the day.

Trading recommendations

The price may keep loosing its value towards 55.50 handle which may stop sellers. If the level holds the benchmark will return to multi-months highs. If Brent breaks lower oil prices may ease to 54.50 dollars per barrel.

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DAX

Current situation

The index extended its sideways trades last week. The benchmark moved lower in the early trades on Friday. Sellers dragged the price to 11400 handle but failed to break lower. The price just tested the level and bounced off it. DAX reversed all its recent losses and rallied to 11500 in the mid-European session. The price remained around the upper limit of the range till the end of the trades. The 4 hours chart showed that the price tested the 50-EMA in the early trades on Friday and bounced off the moving average in late trades the same day. The price remained above the moving averages which maintained their bullish slope. The resistance exists at 11500, the support stands at 11400.

MACD decreased which indicates the buyers’ positions weakening. RSI left the neutral territory and moved north which confirms the current upward momentum.

Trading recommendations

If the price overcomes 11400 we will neutralize our medium term positive outlook. A move below 11400 will put on hold bulls’ plans and will send the benchmark to 11300 and 11200.

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SP500

Current situation

The index extended its losses after a brief pause. Sellers moved the benchmark lower. S&P500 broke the level 2240 and headed towards the next initial barrier at 2220. According to the 4 hours chart the price broke the 50 and the 100-EMA downwards. The 100 and 200-EMAs pointed higher while the 50-EMA was flat. The resistance is at 2240, the support comes in at 2220.

MACD traded to the downside. The RSI remained within oversold readings.

Trading recommendations

We would be selling the index only if the price drops below 2240. The first sellers’ target is 2220, en route 2200.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Tue Jan 03, 2017 2:43 pm

"Fort Financial Services"- fundamental and technical analysis.

04.01.2017

Euro


General overview

The euro ignored the upbeat data from the EU on Tuesday. Unemployment Change in Germany showed positive figures. Consumer Price Index in France grew as well. We expect European Services PMI and PMI Composite from Markit today.

Current situation

The pair opened on a stronger note on Tuesday. Buyers moved the pair from 1.0450 to 1.0500 in the early trades. However, an upward impetus stalled at the beginning of the European session. The currency pair experienced a notable USD demand amid prevalent risk-on sentiment. The euro dropped below 1.0450 and tested 1.0400 in the mid-European session. According to the 4 hours chart the price bounced off the 100 EMA and broke the 50 EMA downwards. The 100 and 200-EMAs maintained their bearish slope while the 50-EMA was neutral. The resistance is at 1.0450, the support comes in at 1.0400.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator remained within oversold readings.

Trading recommendations

The technical picture presents a bearish tone. The pair now seems to be heading towards its immediate support near 1.0350.

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Pound


General overview

UK’s manufacturing PMI temporally supported the pound on Tuesday. However, a broad US dollar's strength limited the major gains.

Current situation

The pound was in a neutral-to-bearish stance on Tuesday. GBP/USD rebounded from earlier lows in the Asian session, however, the pound failed to advance beyond 1.2300 where the major ran through fresh offers. The pour dropped to 1.2245, however, a fresh bout of buying interest helped the sterling to reverse its early losses and returned the spot to the 1.23 hurdle. The price broke the 50-EMA upwards in the 4 hours chart. The major was unable to leave the 50 EMA region and stayed around it during the day. All moving averages kept pointing lower. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. The RSI indicator remained within the neutral territory.

Trading recommendations

The bearish trend remains intact. As the most probable scenario, we consider further moving downwards towards the level at 1.2200.

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Yen


General overview

Japanese markets were closed yesterday amid New Year holidays. The dollar kept strengthening versus the yen following the upbeat Chinese data which switched on the risk sentiment in the market. As it became known Chinese Manufacturing PMI for December showed better-than-expected results reaching the 4 year peak.

Current situation

USD/JPY returned to full bullish mode on Tuesday. A fresh wave of dollar buying interest lifted the pair to the multi-month peaks. After a brief consolidation in the Asian session on Tuesday the currency pair rallied to 118.00 at the beginning of the European session. The upward impulse stalled after testing the level where the USD/JPY pair remained before the NY opening. The price bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. The spot remained above the 50-EMA during the day. The 100 and the 200-EMAs kept pointing higher while the 50-EMA turned neutral. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. The RSI headed towards the overbought readings.

Trading recommendations

The price maintains its bullish tone in the 4 hours chart. After a close above the resistance at 118.00 the pair may extend its growth to 119.00, en route to 120.00.

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NZD/USD

General overview

The kiwi was able to regain some ground versus its US peer following solid Chinese manufacturing PMI data.

Current situation

Despite broad based greenback strength, the NZD/USD pair manages to recover in the early trades on Tuesday. The kiwi jumped upwards and broke the level 0.6950 in the mid-Asian session. However, overnight’s recovery attempt stalled just under 0.6950 barrier where the pair met a fresh selling interest. The NZD/USD pair returned below the level post-Europe open and headed towards its immediate support at 0.6900. According to the 4 hours chart the price broke the 50-EMA upwards in the early trades. The currency pair failed to extend its gains and returned to the 50-EMA ahead of the NA session. The 100 and the 200-EMAs maintained their bearish slope while the 50-EMA was neutral. The resistance is at 0.6950, the support comes in at 0.6900.

MACD traded to the downside. RSI oscillator left the overvalued readings and was in the neutral territory during the day.

Trading recommendations

The bearish scenario prevailed on Tuesday. We suppose the NZD/USD pair will go to 0.6900 first. Having overcome the first target the price might advance towards 0.6850.

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XAU/USD

General overview

Better-than expected Chinese manufacturing PMI helped gold to erase some losses on Tuesday.

Current situation

Gold managed to recover in the early trades on Tuesday. Gold prices grew to 1160 dollars per ounce where it came across a bunch of fresh offers which weighed on the benchmark. The price sharply dropped and returned to the opening level. The 4 hours chart showed that the price was struggling with the 100 during the day. The 100 and the 200-EMA maintained pointed lower while the 50-EMA was neutral. The resistance exists at 1160, the support stands at 1150 dollars per ounce.

The MACD histogram decreased which indicates the sellers’ strength. RSI left the positive territory and headed south.

Trading recommendations

We recommend going short with the first target – 1140 dollars per ounce. When the price consolidates below the first target it risks declining towards 1130.

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Brent

General overview

Oil prices extended their gains posting fresh 18-month highs following the news that Kuwait and Oman fulfill OPEC deal cut. The overall tone is positive as investors hope that an OPEC output cut deal will materialize this month.

Current situation

Brent had a positive start to 2017. The benchmark rallied to fresh daily top on Tuesday. Oil prices gapped higher at the daily open. An Asian attempt to reclaim 57.50 dollars per barrel failed and the price returned to the opening level. European traders made another attempt to break through the hurdle. They retook the level post-Europe open and headed towards 58.50. The benchmark was going to test the level in the NY session. Brent bounced off the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs kept pointing higher in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator remained within overvalued readings.

Trading recommendations

The overall outlook remains bullish, for rise towards 59.50 resistance area. However, the first buyers’ target is the level 58.50 dollars per barrel.

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DAX

General overview

European shares advanced amid oil amid metal prices jump following the upbeat China data. Moreover positive data from EU coupled with banking sector rise supported the European stocks.

Current situation

The index gapped higher at the daily open. However, buyers failed to extend their gains and returned to the opening level afterwards. According to the 4 hours chart the price bounced off the 50-EMA and hovered above the moving during the day. The moving averages kept pointing higher. The resistance exists at 11600, the support stands at 11500.

The MACD histogram grew which indicates buyers’ strength. The RSI oscillator consolidated within positive area.

Trading recommendations

In the scenario where the buyers keep control the price will advance to 11700.

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NASDAQ

General overview

Wall Street showed big gains on Tuesday. Investors had their eyes on the upcoming US Manufacturing.

Current situation

NASDAQ gapped higher at the daily open on Tuesday. The index maintained its bid tone afterwards. Traders drove the benchmark to the 4900 hurdle where the upward trajectory slowed down. The 4 hours chart showed that the price bounced off the 200-EMA. The 100 and 200-EMAs maintained their bullish slope while the 50-EMA turned lower. The resistance is at 4900, the support comes in at 4865.

MACD traded to the upside. The RSI bounced off the oversold readings.

Trading recommendations

A break above 4900 risks a growth towards the resistance at 4940. Should this mark be reached successfully, a further extension towards 4980 could be observed further.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Wed Jan 04, 2017 3:39 pm

"Fort Financial Services"- fundamental and technical analysis.

05.01.2017

Euro

General overview

The euro strengthened against its US rival getting support from the EU upbeat data. According to Eurostat the Euroland inflation has been expanding at its fastest pace. Positive Markit Services and Composite PMIs in Germany and France supported the euro as well.

Current situation

From a technical point of view, the pair remained in a mid-term downward channel staying around its lower boundary. However, the 4 hours chart presented a limited upward potential. The euro took an advantage of a weaker dollar and reversed a minor part of its recent losses on yesterday’s trades. Buyers pushed prices to 1.0450 where the upward impetus faded in the mid-European session. After touching the level the euro slightly rolled back staying in its region. The price tested the 50-EMA in the 4 hours chart. The 100 and 200-EMAs kept pointing lower while the 50-EMA remained neutral. EUR/USD remained below the moving averages in the mentioned timeframe. The resistance is at 1.0450, the support comes in at 1.0400.

MACD grew which indicates the sellers’ positions weakening. RSI left oversold readings and entered the neutral territory.

Trading recommendations

Euro is expected stay under pressure unless it reclaims 1.0500 hurdle. An advance beyond 1.0500 will likely result in further recoveries. We believe buyers may push the EUR/USD to 1.0550. A break below 1.0400 will suggest further weakness of the EUR/USD pair. The level 1.0350 is the primary sellers’ target.

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Pound

General overview

The British pound recovered some ground when the fresh UK data showed upbeat figures. Thus, Construction PMI, Mortgage Approvals and Consumer Credit surpassed all traders’ expectations showing a stable growth of the UK economy after the Brexit.

Current situation

The sterling recovered some ground, but remained weak against the US dollar trading below the 1.2300 mark on Wednesday. Traders were able to push the price upwards in the early trades. The GBP/USD pair recovered to 1.2285 where the upward trajectory lost its legs post-European open. According to the 4 hours chart the price tested the 50-EMA in the Asian session on Wednesday. The price failed to retake the level and remained well below the moving averages in the same chart. The moving averages maintained their bearish slope. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. The RSI indicator remained within the neutral territory.

Trading recommendations

The technical picture presents a bearish tone. We recommend going short with the first target – 1.2200. When the price consolidates below the first target it may extend its bearishness to the 1.2100 level. However, if the dollar keeps easing across the board, the currency pair may continue its recovery from the two-month low. To neutralize the current downward pressure buyers need to retake 1.2300. After breaking the level the pair may recover to 1.2350.

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Yen

General overview

The yen ignored positive Manufacturing PMI from Nikkei and remained under pressure in the early trades on Wednesday. European equity markets mild cautious sentiment switched off the risk appetite supporting the yen as a safe-heaven currency later the day. Moreover, the US Treasury bond yields retracement kept on weighing on the greenback.

Current situation

From a technical point of view USD/JPY remains in a neutral-to-bullish stance. The pair failed to sustain the Asian recovery when buyers met a solid barrier around 118.00 and had to step back. The spot eased off the 118.00 level and erased all its daily gains afterwards. According to the 4 hours chart the price tested the 50-EMA twice during the day. Traders failed to break the line which rejected them every time. The 100 and the 200-EMAs pointed higher while the 50-EMA was neutral. The price remained hovering above the moving averages during the day. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD traded to the upside. The RSI left the overvalued readings and entered the neutral area.

Trading recommendations

In the scenario where the buyers keep control the pair will advance to 118.00 first. The potential buyers’ target is 119.00.

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USD/CAD

General overview

Oil market positive sentiment supported the commodity-linked currency like Canadian dollar on Wednesday.

Current situation

The dollar recovery in the Asian session stalled around 1.3470 when the currency pair ran through fresh offers and dropped below 1.3400 support at the beginning of the European trades. Sellers extended their gains in the European session and headed towards 1.3260 handle. The downward pressure ran out of steam around 1.3300. The price bounced off the mark towards 1.3330. The price broke the 100 and 200 EMAs downwards in the 4 hours chart. The 50-EMA and the 100-EMAs pointed higher while the 200-EMA was neutral. The resistance is at 1.3400, the support comes in at 1.3330.

The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator remained within oversold readings.

Trading recommendations

If the price fixates below the level 1.3330, sellers may continue a downward trend in the short term. The potential sellers’ targets are 1.3260 and 1.3190. We do not rule out and a recovery on profit taking. USD/CAD may reverse some of its losses if it returns above 1.3330.

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XAU/USD

General overview

Gold moved higher on Wednesday despite a positive dollar. The dollar retracement seems to be the only factor pushing the metal higher. The dollar is strong and we wonder if gold manages to sustain its recovery strength.

Current situation

XAU/USD opened green on Wednesday. Traders broke 1160 and advanced to 1170 during the Asian hours. The pair was unable to climb higher and retreated almost immediately after the level test. According to the 4 hours chart the price tested the 200-EMA. The 100 and the 200-EMA maintained their bearish slope while the 50-EMA pointed higher. The resistance exists at 1160, the support stands at 1150 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator consolidated within positive area.

Trading recommendations

We would be selling the gold metal only if the price drops below 1150. Then it may advance towards 1140 dollars per ounce.

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Brent

General overview

Oil prices remained under pressure on Wednesday waiting for weekly U.S. stockpiles data.

Current situation

Brent managed to reverse a small portion of its recent losses in the Asian session on Wednesday. Bulls, however, met a barrier at 56.13 region which rejected prices downwards in the European session. The benchmark was trying hard to retake the level 55.50 dollars per barrel during the European hours and continued with it in the NY session. The price broke the 50-EMA and tested the 100 EMA in the European session. All moving averages kept pointing higher in the 4 hours 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 indicator was within oversold readings.

Trading recommendations


After a close above the resistance at 56.50 the price may extend its growth to 57.50. A sharp breakout below 55.50 could spark a further decline towards 54.50, en rout to 53.50 dollars per barrel.

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DAX

General overview

European bourses turned negative on Wednesday. Investors kept weighing up fresh macro updates from the Eurozone and UK. Moreover, traders refrained from creating fresh positions ahead of the FOMC minutes and preferred to book some profit.

Current situation

The index had a negative day on Wednesday. Bears were in control moving DAX downwards. The benchmark pushed away from the 11600 hurdle and advanced towards 11500 support region. The price kept hovering above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope. The resistance exists at 11600, the support stands at 11500.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator stayed within the undervalued territory.

Trading recommendations

A downward correction will start as soon, as the Germany's DAX 30 drops below the support level 11500. Then we consider further moving downwards towards the level at 11400.

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S&P500

General overview

Wall Street edged higher on Wednesday awaiting for the Fed's minutes hoping to hear new rate hike dates.

Current situation

S&P500 edged higher and recovered nearly half of the two-week entire decline. Market participants moved the price to 2260 level which slowed down their advance. The benchmark tested the level in the NY session and kept on battling with it during the US hours. According to the 4 hours chart the price tested the 50 and the 100-EMAs. The 50-EMA crossed the 100-EMA downwards. The 100 and 200-EMAs pointed higher while the 50-EMA remained neutral. The resistance is at 2260, the support comes in at 2240.

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 left the neutral area and headed north.

Trading recommendations


The bullish views are getting more popular now. All eyes are right now at the resistance level 2260. A cut through here will turn attention to the 2280 level, en route to 2300.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Thu Jan 05, 2017 2:21 pm

"Fort Financial Services"- fundamental and technical analysis.

06.01.2017

Euro

General overview

The euro turned negative ahead of EU’s Producer Price Index on Thursday. Despite the better-than-expected figures the single European currency lost its value. The lack of strong data from the Euroland turned traders’ attention to the US calendar. The US was going to publish a bunch of labor market reports: ADP Employment Change and US Initial Jobless Claims. PMI Composite from Markit was worth our attention as well.

Current situation

The EUR/USD pair opened on a strong note on Thursday. The pair was able to advance up to 1.0574 where it met a barrier and turned bearish. The single European currency bounced off the mark and headed lower afterwards. Sellers broke the level 1.0550 during European morning trades and tested 1.0500 in the mid-European session. The currency pair returned to a decline ahead of the NY opening when bears headed towards 1.0450. According to the 4 hours chart the price broke the 50 and the 100-EMAs upwards and tested the 200-EMA during the early trades. The euro failed to retake the bearish 200-EMA and bounced off the moving post-European open. The 100 and 200-EMAs pointed lower while the 50-EMA remained neutral. The resistance is at 1.0500, the support comes in at 1.0450.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI oscillator bounced off the overvalued readings.

Trading recommendations

The bearish trend remained intact. As the most probable scenario, we consider further moving downwards towards the levels 1.0450 and 1.0400. However, a move above 1.0550 may neutralize the current selling pressure. The EUR/USD pair may extend its recovery up to 1.0650.

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Pound

General overview

The pound was able to strengthen versus its US peer amid soft Fed’s remarks. Moreover, the pound got some support on the back of the upbeat Services PMI.

Current situation

The sterling turned bearish when its recovery stalled at 1.2361. The currency pair ran through fresh offers, reversed its direction and dropped to 1.2269 at the Asian session end. After posting the session low buyers reversed some of their recent losses and returned to 1.2300 hurdle. According to the 4 hours chart the price broke the 50-EMA upwards and tested the 100-EMA. GBP/USD stayed between the 50 and 100 EMAs afterwards. All moving averages kept pointing lower in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. The RSI indicator remained within neutral territory.

Trading recommendations

Despite the recent recovery the GBP/USD pair maintained its bearish tone in the 4 hours chart. If we see a close below 1.2300 we will go short. The next sellers’ targets are 1.2250 and 1.2200.

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Yen

General overview

The US dollar keeps losing its value across the board amid growing uncertainty over the next Fed rate hike timing. Moreover, the Fed is uncertain about the upcoming Trump administration.

Current situation

The USD/JPY pair remained under intense selling pressure on Thursday. Sellers continued to dominate and dragged the pair lower in the Asian session. The downward move lacked momentum around 116.00. After posting a session low at 115.60 the US dollar staged an impressive recovery and erased all its early losses. The price returned to the opening prices where its recovery momentum stalled. Despite the ongoing recovery USD/JPY remained in bearish territory. The price broke the 50 and the 100-EMAs downwards in the 4 hours chart. The US dollar remained between the 100 and 200 EMAs the first part of the day. The 100 and the 200-EMAs kept pointing higher while the 50-EMA remained neutral. The resistance is highlighted at 117.00, the support comes in at 116.00.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI was within oversold readings.

Trading recommendations

A bullish tone prevails in the 4 hours chart. We expect a full recovery which will start as soon as the USD/JPY pair rises above the resistance level 117.00. Buyers may move towards 118.00 and 119.00. Otherwise we will see the spot moving towards 115.00.

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AUD/USD

Current situation

Recovery rally from 0.7150 ran out of steam a few pips below 0.7350. The pair turned bearish ahead of the European session opening. Sellers managed to push the price to 0.7300 handle where they took a breath gathering steam for more action. According to the 4 hours chart the price broke the 50 and the 100-EMAs upwards. The Australian dollar failed to hold its gains and returned to the 100-EMA afterwards. The 100 and 200 EMAs kept pointing lower while the 50-EMA was flat. The resistance is at 0.7300, the support comes in at 0.7250.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator remained within oversold readings.

Trading recommendations

Our mid-term view on the Aussie is bearish. A move below 0.7300 would suggest a resumption of a downward movement. In this scenario the AUD/USD pair might advance to 0.7250 and 0.7200.

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XAU/USD

General overview

Gold presumed its recovery on the back of a broad based US dollar weakness after dovish Fed minutes.

Current situation

Gold extended the two-day recovery on Thursday. The precious metal broke 1170 dollars per ounce and tested the 1180 hurdle in the Asian session. Buyers had no strength to move higher and retreated back to 1170. The 4 hours chart showed that the price broke the 200-EMA upwards. The price continued developing well above the 200-EMA afterwards. The 50-EMA crossed the 100-EMA upwards in the mentioned timeframe. The 100 and the 200-EMA pointed lower while the 50-EMA was higher. The resistance exists at 1180, the support stands at 1170 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI indicator remained within undervalued territory.

Trading recommendations

We a bullish short-term and expect a growth towards 1190 dollars per ounce. Meanwhile only a break below 1150 will indicate that the current bullish recovery is over. In this scenario, sellers may lead prices towards 1130 dollars per ounce.

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Brent

General overview

Brent ignored bullish US crude oil inventories and returned to a growth on Thursday. Brent oil prices got support after Saudi Arabia informed its customers to cut oil production, thus supporting OPEC plan to reduce global supply.

Current situation

Brent oil was modestly flat during the Asian hours on Thursday. The benchmark could move higher in the European session. Buyers broke the level 56.50 and trended to 57.50 dollars per barrel. The price was around 56.90 ahead of the NY opening. The “black gold” bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. Brent extended its gains after the 50-EMA break and moved away from the moving averages. The 50, 100 and 200 EMAS maintained their bullish slope in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. The RSI indicator left oversold readings and entered the neutral area.

Trading recommendations

If buyers continue to dominate a close above 56.50 will trigger gains towards 57.50 and 58.50 dollars per barrel.

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DAX

General overview

European futures edged lower on Thursday but remained around their recent highs. Energy stocks traded mixed with French and Italian shares fell down and Norwegian companies shares gained. Financial stocks were mixed as well. French bank led its shares lower while Germany’s Deutsche Bank and Commerzbank shares rose.

Current situation

DAX30 gapped lower at the daily open when prices jumped from 11578 to 11552. The index turned around right after the gap and reversed all its losses. Buyers led the price to the nearest resistance level – 11600. However, bulls failed to retake the hurdle and the benchmark rolled back. According to the 1 hour chart the price tested the 50-EMA. DAX30 failed to break the 50-EMA and was struggling with it during the European hours. The benchmark remained above the moving averages which kept pointing higher in the same chart. The resistance exists at 11600, the support stands at 11500.

MACD remained at the same level which confirms the strength of buyers. RSI indicator was within the undervalued territory favoring a move south.

Trading recommendations

The price is bullish on intraday charts. The index now seems to be struggling with its immediate resistance at 11600. Should the price break above the hurdle and the benchmark will extend its bullishness towards 11700.

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NASDAQ

General overview

Wall Street opened flat on the back of the mixed data. Initial Jobless Claims showed upbeat figures while ADP Employment Change came in the red.

Current situation

The bearish scenario prevailed on Thursday. The index moved lower from its recent high at 4940. Its further gains are limited by the current hurdle which rejects the benchmark on its any up-move. The 4 hours chart showed that the price broke the 100-EMA upwards and tested the 50-EMA.The S&P500 continued developing well above the moving averages during the day. The 200-EMA pointed higher while the 50 and the 100-EMAs were neutral. The resistance is at 4940, the support comes in at 4900.

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 entered the neutral area.

Trading recommendations

The overall outlook remains bullish, for a rise towards 4980 resistance area.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Fri Jan 06, 2017 1:13 pm

"Fort Financial Services"- fundamental and technical analysis.

09.01.2017

Euro

General overview

Weak data from the Eurozone slowed down buyers’ activity on Friday: Factory Orders and Retail Sales in Germany came in worse than expected. All eyes were on today's release of US NFP numbers which were expected to come around 180K.

Current situation

The bullish market structure remained in place on Friday. Buyers met a barrier at 1.0600 and had to step back. The EUR/USD rolled back in the Asian session and made another attempt to retake the level in the European one. A fresh selling pressure pushed the pair downwards ahead of the NY opening. The price continued developing well above the moving averages in the 4 hours chart. The moving averages were mixed with the 100 and 200 EMAs pointing lower and the 50-EMA turning upwards. The resistance is at 1.0600, the support comes in at 1.0550.

The technical indicators kept heading north within positive territory. The MACD histogram grew which indicates buyers’ strength. RSI oscillator remained within overvalued territory.

Trading recommendations

The bullish momentum is likely to be regained if the pair extends its recovery towards 1.0650 and 1.0700 levels. On the other hand the upbeat NFP release may support the US dollar and weigh on the euro. In this scenario the currency pair will return to a downside and my drop to 1.0450.

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Pound

General overview

There was nothing scheduled in the UK on Friday. Only the US data could move the market. Traders waited for labour data and Trade Balance figures.

Current situation

After climbing as high as the 1.2430 during Asian trades the cable lost strength and turned to a downside. The pound rolled back to the 1.2400 support region where it found decent support in the early trades. The GBP/USD pair move back and forth in an extremely narrow range during the European hours waiting for new stimulus. A fresh selling interest emerged ahead of the NY opening dragging the pair downwards. The price broke the 50 and the 100-EMAs upwards in the 4 hours chart. The cable stayed between the bearish 100-EMA and neutral 200-EMA during the morning trades. The resistance lies at 1.2400, the support comes in at 1.2300.

The technical indicators retreated partially from overbought territory. MACD traded to the downside. The RSI indicator remained within overvalued readings.

Trading recommendations

We will place buy orders if the GBPUSD does a breakout at the resistance level of 1.2400. The price might extend its recovery towards 1.2450 and 1.2500. Alternatively, a move towards 1.23 would generate negative signal and risk further easing. Sellers may drive the pair to 1.2200.

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Yen

General overview

The US dollar returned some lost ground following Trump’s threats to tax Toyota Motor Corp. if it builds a plant in Mexico.

Current situation

The overall structure is bullish. The market will be in bulls' hands until the price is above the current trend line. Meanwhile, the USD/JPY pair extended its recovery momentum from the 115.00 psychological mark in the Asian session on Friday. The US dollar reversed its early losses and returned above 116.00 hurdle. Buyers extended their gains and moved the spot upwards ahead of the NA session opening. The Asian recovery stalled at 116.37 and the dollar returned to 116.00 afterwards. According to the 4 hours chart the spot bounced off the 200-EMA. The 50-EMA crossed the 100-EMA downwards in the same chart. The 100 and the 200-EMAs pointed higher while the 50-EMA was lower. The resistance is highlighted at 116.00, the support comes in at 115.00.

MACD grew which indicates the sellers’ positions weakening. The RSI remained within oversold readings.

Trading recommendations

A move below 115.00 will signal the presence of sellers. We cannot rule out the chance that the pair would try to get to the level at 114.00 in the short-term. Conversely, USD/JPY will resume its uptrend as soon, as the price rises above the resistance level 117.00.

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NZD/USD

Current situation

The New Zealand dollar extended its recovery versus the US dollar in mid-Asia. However, the pair failed to advance beyond 0.7050 and jumped back after touching the level. NZD/USD was confined to the tight range between 0.7000 and 0.7030 during the European hours. A bout of fresh selling interest dragged the kiwi downwards ahead of the NY opening. The price sharply dropped to 0.7000 handle and extended its losses afterwards. The 4 hours chart showed that the price broke 50 and 100-EMAs upwards and tested the 200-EMA. The price was battling with the neutral 200-EMA during the European session. The 50-EMA pointed higher while the 100-EMA turned south. The resistance is highlighted at 0.7050, the support comes in at 0.7000.

The technical indicators headed north within bullish territory. The MACD histogram grew which indicates buyers’ growing strength. The RSI indicator was within overvalued readings.

Trading recommendations

The technical picture presents a bullish tone. A break above 0.7050 risks a growth towards the resistance at 0.7100.

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XAU/USD

General overview

Gold futures edged lower on Friday on expectation of the US labor data hoping to get fresh clues over the Fed rate-hike plans in 2017.

Current situation

Gold prices retreated below 1180 after posting fresh weekly highs at 1184 dollars per ounce. The metal stayed range-bound to lower below the current hurdle during the European hours. The price hovered above the moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards in the same chart. The 50-EMA pointed higher while the 100-EMA was flat and the 200-EMA pointed lower. The resistance exists at 1180, the support stands at 1170 dollars per ounce.

The MACD histogram grew which is a buy signal. RSI indicator was within undervalued readings.

Trading recommendations

A bearish tone prevails in the 4 hours chart. We suppose the gold metal will decline to 1170 first. Having overcome the first target the price might advance towards 1160 dollars per ounce. A weak NFP release will support the precious metal sending it to fresh highs. The XAU/USD pair may reach 1190 in the short-term.

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Brent

General overview

Oil prices strengthened after Crude inventories fell on Thursday. The market will be focused on oil rig count data report in the coming sessions.

Current situation

The market remains in bulls' hands. Brent strengthened further reaching fresh multi-month highs ion Friday. Buyers extended their upward trajectory towards 57.50 in the Asian session. Market participants failed to move the benchmark higher. The level rejected the price which slightly rolled back post-European opening. The 4 hours chart showed that the price was above all of its moving averages. The moving averages kept pointing higher in the mentioned timeframe. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. The RSI indicator left neutral area and moved to upside.

Trading recommendations


The bullish scenario prevailed on Friday. Once we break above 57.50, we think that the 58.50 level will be next.

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DAX

General overview

European shares edged lower on Friday following a decline in precious and industrial metal sectors. Energy sector faced some selling pressure as well following a drop in European oil and gas index. Besides, traders took wait-and-see mode awaiting for US Non-farm payrolls release.

Current situation

DAX traded mostly sideways and the outlook for the day is mixed. The index went back and forth during the course of the session on Friday. The price struggled to take out the 50 EMA barrier during the first part of the day. The 100 and the 200-EMAs kept pointing higher while the 50-EMA was flat. The resistance exists at 11600, the support stands at 11500.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator stayed within neutral area.

Trading recommendations

Sellers seem to be gaining more control. To trigger fresh downward momentum the index needs to break through 11500. After breaking the level sellers will target at 11400.

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S&P500

General overview

Wall Street opened flat as traders were in “wait-and-see” mode ahead of US nonfarm payrolls release.

Current situation

S&P500 stayed in a tight range above 2260 during the European hours on Friday. According to the 4 hours chart the price bounced off the 50-EMAs. The benchmark continued developing well above the moving averages afterwards. The 100 and the 200-EMAs pointed higher while the 50 remained flat. The resistance is at 2280, the support comes in at 2260.

MACD remained at the same level which confirms the strength of buyers. RSI indicator was within the overvalued territory close to the neutral area.

Trading recommendations

The overall outlook remains bullish, for rise towards 2280 resistance area.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Mon Jan 09, 2017 12:03 pm

"Fort Financial Services"- fundamental and technical analysis.

10.01.2017

Euro

General overview

The Euroland published mixed data on Monday. Industrial Production in Germany came in worse then expected while Trade Balance grew. The EU's Unemployment Rate remained unchanged at the same time. As a result traders stopped buying the euro and turned their attention to the US dollar.

Current situation

After a brief consolidation during the Asian hours bulls made another attempt to reclaim 1.1050 in the European session. Buyers were struggling with the level the whole morning but failed to regain it. The EUR/USD pair faced further downside pressure and moved towards 1.0500 it in the mid-European session. The spot broke the 200-EMA downwards and headed towards the 100-EMA in the 4 hours chart. The 100-EMA and the 200-EMA maintained their bearish slope while the 50-EMA pointed higher. The resistance is at 1.0550, the support comes in at 1.0500.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator remained within neutral area.

Trading recommendations

We favor a near-term bearish bias. Below the 1.0500 handle the EURUSD pair is likely to target at 1.0450 and 1.0400 support levels.

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Pound

General overview

The pound started the week in the red. The Cable weakened as Hard-Brexit concerns returned to the market. The pound got a minor support from House Prices from Halifax which came in better than expected.

Current situation

Sellers continued to dominate on Monday. The pound gapped lower at the daily open and immediately extended its weakness towards 1.2200 handle. After touching the level the selling pressure faded and the cable started a consolidation phase. However, the consolidation did not last long, another wave of selling pressure led the GBP/USD pair towards 1.2100. A downward impetus faded a few pips above 1.2200, after touching the mark 1.2123 the spot bounced off and erased a minor part of its fresh losses. According to the 1 hours chart the sterling broke all its moving averages downwards. The 50-EMA turned lower while the 100 and the 200-EMAs were flat in the mentioned timeframe. The resistance lies at 1.2200, the support comes in at 1.2100.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

A bearish tone prevails in the 4 hours chart. Sellers may reach the level 1.2100 in the short-term, en route 1.2000. We cannot rule out the chance that the pair would try to recover to the 1.2200 – 1.2230 resistance region.

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Yen

General overview

The Japanese markets were closed amid Coming-of-Age Day. The main point of focus shifted to the Fed's representatives (Rosengren and Lockhart) speeches.

Current situation

Fresh bids around 117.00 helped the US dollar to extend its gains in the Asian session on Monday. However, the buying pressure ran out of steam soon. After reaching the mark 117.50 the pair turned around and returned to 117.00 in the mid-European session. Sellers pushed the spot lower ahead of the NY opening. USD/JPY crossed the 50-EMA downwards and tested the 100-EMA in the 4 hours chart. The 100 and the 200-EMAs maintained their bullish slope while the 50-EMA was flat. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD indicator was at the centerline. If the histogram returns the negative territory, that will indicate sellers’ growing strength. If MACD enters into the positive area the buyers will take control over the market. The RSI left overvalued readings and headed south.

Trading recommendations

USDJPY needs to regain at least the 118.00 resistance zone to ease the immediate bearish pressure. Otherwise the sellers will move the pair to the 116.00, en route to 115.00.

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USD/CAD

General overview

The Canadian dollar retreated amid dollar strength and low oil prices.

Current situation

The bearish trend remained intact on Monday. An attempt to recover met a barrier at 1.3260 which rejected prices downwards. After touching the level the US dollar bounced off the hurdle and headed towards 1.3190 handle. The 4 hours chart showed that the price continued developing well below the moving averages. The 50-EMA crossed the 100-EMA downwards in the same chart. The 50 and the 200-EMAs kept pointing lower while the 100-EMA moved higher. The resistance is highlighted at 1.3260, the support comes in at 1.3190.

MACD grew which indicates the sellers’ positions weakening. The RSI indicator was within oversold readings.

Trading recommendations

We prefer to stay bearish for now. We expect further moving downwards. The potential sellers’ targets are 1.3190 and 1.3120. Alternatively, the currency pair may reverse its losses if it breaks 1.3260 upwards and will move towards 1.3330.

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XAU/USD

General overview

Gold prices moved lower amid dollar strengthening across the board.

Current situation

Gold had a good start on Monday. The price pushed away from 1170 and headed towards its immediate resistance at 1180 dollars per ounce in the early trades. However, buying impetus did not have legs and the price remained in a range between the current support and the resistance during the Asian hours. Buyers succeeded to retake the level ahead of the NY opening. After breaking the hurdle the XAU/USD pair advanced towards 1185. The price broke the 50-EMA and headed away from the moving averages in the 1 hour chart. The moving averages maintained their bullish slope in the same chart. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD grew which indicates the buyers’ positions strengthening. RSI oscillator remained within overbought readings.

Trading recommendations

Buyers need to fixate above 1185 before a price can rally towards 1190 and 1200 dollars per ounce.

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Brent

General overview

Oil prices got under pressure as Iran exports grows. Moreover Friday's Baker Hughes report showed a further rise in the number of rigs drilling oil in the US.

Current situation

The bullish market structure remained in place on Monday. Brent oil is still in an upward channel staying around its lower boundary. However, sellers made an attempt to leave the channel on Monday. Bears led the price to 56.50 dollars per barrel and were struggling with the level the first part of the day. The price broke lower ahead of the NY session opening. The benchmark broke the level and moved towards 55.50. According to the 4 hours chart the price broke the 50-EMA downwards. The benchmark continued developing well above the 100 and the 200-EMAs afterwards. The 50 and the 100-EMAs pointed higher while the 100-EMA was flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD moved to the downside. The RSI indicator left neutral area and moved downwards.

Trading recommendations

We await a break below 55.50 to trigger another leg lower. In this scenario, sellers may lead prices towards 54.50 and 53.50 dollars per barrel.

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DAX

General overview

The European stocks traded lower amid corporate reports and Germany data.

Current situation

DAX sharply dropped on Monday. Sellers led the price from 11600 to 11500 during the first part of the day. The price broke the 50-EMA downwards and tested the 100-EMA in the 1 hour chart. The 50-EMA was neutral while the 100 and the 200-EMAs kept pointing higher in the mentioned timeframe. The resistance exists at 11600, the support stands at 11500.

MACD decreased which indicates the buyers’ positions weakening. RSI left the neutral area favoring a new move lower.

Trading recommendations

We recommend going short with the first target - 11500. When the price consolidates below the first target the benchmark may go to the level 11400.

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NASDAQ

Current situation

Nasdaq opened on a positive note on Monday. Traders pushed the price higher and reached the mark 2275 at the begging of the European session. After testing the mark the benchmark sharply dropped to 2270. The price hovered above the moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. All moving averages kept pointing higher in the same chart. The resistance is at 2280, the support comes in at 2260.

The MACD histogram edged lower which is a sell signal. RSI consolidated within positive territory.

Trading recommendations

To trigger additional downward momentum towards 4940 the price needs to break the level 4980.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Tue Jan 10, 2017 1:18 pm

"Fort Financial Services"- fundamental and technical analysis.

11.01.2017

Euro

General overview

The euro strengthened the other day after EU's Investor Confidence upbeat data. However, the dollar managed to reverse some losses on Tuesday amid the recent Fed representatives’ remarks who supported the rate hike actions in 2017. Traders are in wait and see mode now awaiting for Trump’s conference which is set for January 11th. There were no relevant macroeconomic releases scheduled in the EU for Tuesday

Current situation

The euro momentum began fading after piercing the level 1.0600 during the early hours on Tuesday. Having posted the daily high at 1.0626 the EUR/USD pair retreated and returned below 1.0600 post-European session open. Sellers kept pushing the single European currency downwards ahead of the NY opening. According to the 4 hours chart the price continued developing well above the 200-EMA which acted as a support for the currency pair. The 100 and the 200-EMAs were flat while the 50-EMA kept pointing higher. The resistance is at 1.0600, the support comes in at 1.0550.

The technical indicators aim modestly lower within positive territory. MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed within undervalued territory.

Trading recommendations

We expect to see renewed bearish pressure in the short-term. A break below 1.0550 may suggest further weakness of the EURUSD pair. The level 1.0500 may become the next bearish target.

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Pound

General overview

The pound stabilized on Tuesday after Theresa May’s recent remarks. Moreover, hard-Brexit concerns continue weighing on the investors’ sentiment. Investors’ attention now turns to Manufacturing Production and Industrial Production releases.

Current situation

Bears kept the market in control tightening their grip. After a brief consolidation in the Asian session the pound extended its weakness on Tuesday. Sellers pushed the pair lower and reached 1.2100 with London opening. The spot was in a consolidation phase ahead of the NY session opening. The price stays well below the moving averages in the 4 hours chart. The moving averages maintained their bearish slope. The resistance lies at 1.2200, the support comes in at 1.2100.

The technical indicators turned lower. The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator remained within oversold levels.

Trading recommendations

The pound is short term oversold and may reverse some losses. We do not rule out a minor recovery to 1.2200 which is a good chance to open short positions. Despite the oversold readings we do not see any signs the pair may change its current course any time soon. A move below 1.2100 will return sellers in the driver’s seat pushing the GBP/USD pair to 1.2000.

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Yen

General overview

Consumer Confidence in Japan coincided with the forecast. The yen ignored the report and weakened versus the dollar before Trump's conference.

Current situation

Sellers managed to lead the price lower in the early trades on Tuesday. The price touched the level 115.00 and immediately bounced off it trading with mild bearish bias afterwards. The US dollar spent the first part of the day at 116.00. The ongoing recovery could be attributed to some profit taking from bears amid risk aversion. The price bounced off the 200-EMA in the 4 hours chart. The 200-EMA pointed higher while the 50 and the 100-EMAs were flat. The resistance is highlighted at 116.00, the support comes in at 115.00.

The technical indicators are pointing lower and suggest further easing. The MACD histogram decreased which indicates the sellers’ strength. The RSI was within oversold readings close to the neutral territory.

Trading recommendations

The technical picture presents a bullish tone. A break above 116.00 suggests further growth towards 117.00. Alternatively, the dollar's inability to recover today could cause a drop towards the 114.00 handle.

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AUD/USD

General overview

The Australian dollar weakened on Tuesday amid downbeat Retail Sales release. Moreover, disappointing releases of Chinese CPI weighed on the Aussie.

Current situation

An attempt to advance beyond 0.7350 failed on Tuesday. Buyers climbed up to 0.7385 where the pair came across fresh offers and dropped to 0.7350. After testing the level sellers continued battling with it trying to push the price lower. The 4 hours chart showed that the price tested the 200-EMA in the early trades. The 200-EMA slowed down bulls’ advance being a tough nut to crack acting as a resistance for the spot. The 100 and the 200-EMAs were neutral while the 50-EMA kept pointing higher in the mentioned timeframe. The resistance is highlighted at 0.7400, the support comes in at 0.7350.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator consolidated within undervalued readings.

Trading recommendations

The bearish trend remained intact. If the price fixates below the support 0.7350, it may continue the downward trend in the short term. The potential sellers’ targets are 0.7300 and 0.7250.

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XAU/USD

General overview

Gold prices hit 6-week highs amid broad base dollar retracement due to growing uncertainty over the Fed rate hike in 2017. The first Trump’s conference in 2017 attracts investors’ attention now.

Current situation

Gold extended its near-term bullish momentum and rose to its highest level since early December on Tuesday. Buyers led the price from 1180 to 1187 dollars per ounce where the advance lost upward momentum. A light selling interest weighed on the pair pushing it to 1182. The price hovered above the moving averages in the 4 hours chart. The 50-EMA kept pointing higher and crossed the 200-EMA upwards. The 100 and the 200-EMAs were neutral. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator remained within undervalued territory.

Trading recommendations

We hold the view that gold prices will drop below the 1180 handle. The next level to focus on is 1170 dollars per ounce.

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Brent

General overview

Oil prices recovered some ground on Tuesday on hopes that OPEC and non-OPEC members will cut oil output. The ongoing dollar weakness also aids the recovery in the black gold. Meanwhile investors await for API stockpiles data.

Current situation

Brent seems to have found a solid support at 54.50 dollars per barrel. The benchmark bounced off the level after testing it. Oil prices managed to reverse a minor portion of their losses overnight. Brent recovered to 55.50 where it spent the whole European session. The 4 hours chart showed that the price broke the 50 and the 100 EMAs downwards. The 50 and the 100-EMAs were flat while the 200-EMA pointed higher. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD entered the negative area. If MACD remains within the negative readings, sellers’ positions will strengthen. The RSI indicator was within the oversold territory.

Trading recommendations

Now bears keep focus at 54.50 dollars per barrel. We think that further weakening to 53.50 is not ruled out.

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DAX

General overview

European stocks slightly edged higher amid corporate earnings reports and commodity currencies strengthening. The recovery was limited amid concerns over Italian banks.

Current situation

DAX extended its consolidative pattern on Tuesday trading comfortably between 11600 and 11500, being unable to set short-term direction. Buyers moved the price to the upper boundary of the range in the Asian session. After touching the level the benchmark moved back and stopped around 11550 post-European open. The price hovered above the moving averages in the 4 hours chart. The price tested the 50-EMA and continued developing well above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope in the same chart. The resistance exists at 11600, the support stands at 11500.

The MACD histogram decreased which is a sell signal. RSI was within the neutral area and headed upwards.

Trading recommendations

We expect the index to remain in the current range. A clear break of either side is needed to signal fresh direction.

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S&P500

General overview

US stocks were neutral at open amid oil prices flat.

Current situation

Sellers met a barrier at 2260 which rejected the price upwards. The benchmark was able to reverse a minor portion of yesterday’s losses and grew up to 2265 where the upward momentum lost its legs in the mid-European session. The price broke the 100-EMA upwards in the 1 hour chart. The 50 and 200-EMAs were flat while the 100-EMA pointed higher in the mentioned timeframe. The resistance is at 2280, the support comes in at 2260.

MACD decreased which indicates the buyers’ positions weakening. RSI was within the neutral area.

Trading recommendations

The price maintained its bullish tone in the 4 hours chart. A recovery above the 2280 level will favor an advance up to the 2300 region.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

Re: "Fort Financial Services"- fundamental and technical ana

Postby ValdisFFS » Wed Jan 11, 2017 3:48 pm

"Fort Financial Services"- fundamental and technical analysis.

12.01.2017

Euro

General overview

The euro turned bearish on yesterday's trades. The EU and US calendars were light. All investors’ attention focused on upcoming US President Donald Trump's speech.

Current situation

The euro continued moving lower yesterday. Traders pushed the price to 1.0550 where EUR/USD developed a short-term consolidation in the early trades. The pair ran through fresh offers on European open and accelerated its decline afterwards. Sellers broke below 1.0550 and dragged the single European currency to 1.0500. The price broke the 200-EMA downwards and tested the 50-EMA in the 4 hours chart. The 100 and the 200-EMAs remained flat while the 50-EMA kept moving higher. The resistance is at 1.0550, the support comes in at 1.0500.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator left undervalued territory and headed south.

Trading recommendations

We believe the selling interest in the short term will remain intact. A breakout of 1.0500 would aim for next sellers’ target at 1.0450 and 1.0400.

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Pound

General overview

The pound lost further ground on Wednesday. Concerns of 'hard Brexit' continued attracting fresh selling pressure around the Cable. Moreover, the mixed UK data failed to provide any sufficient support for the British pound: Industrial and Manufacturing Production came in positive while Trade Balance and Goods Trade Balance came in the red. Investors were also focused on BOE Governor Mark Carney's testimony before the Parliament during the US session.

Current situation

The Cable failed to sustain the Asian recovery which stalled around 1.2200. After touching the level the price bounced off it and weakened to 1.2100 after London's opening. Having touched the level the GBP/USD pair rolled back reversing some of its losses. The spot bounced downwards off the 50-EMA in the 1 hour chart. The price continued developing well below the moving averages afterwards. The 200-EMA was neutral while the 50 and the 100-EMAs pointed lower in the same chart. The resistance lies at 1.2200, the support comes in at 1.2100.

The MACD histogram returned into the negative area, that indicates sellers’ growing strength. The RSI indicator was within oversold readings.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. We would keep selling the Cable if the price drops below 1.2100, en route to 1.2000.

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Yen

General overview

The dollar was able to reverse a minor portion of its recent losses awaiting for the Donald Trump's first news conference since the election.

Current situation

The pair traded sideways staying contained to a range of 50 pips or less during the Asian session on Wednesday. Buyers were able to regain more room in the early European trades. The spot climbed up to 116.43 where the upward momentum lost its legs. The price continued hovering above the 200-EMA in the 4 hours chart. The 100-EMA limited the upside for the spot. The 200-EMA kept pointing higher while the 50 and the 100 EMAs moved lower in the mentioned timeframe. The resistance is highlighted at 117.00, the support comes in at 116.00.

MACD grew which indicates the sellers’ positions weakening. The RSI left oversold readings and headed north.

Trading recommendations

A close above 117.00 will generate fresh bullish signal for further advance, which could extend to the 118.00 hurdle. Conversely, a move below 115.00 would revive bearishness towards 114.00.

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NZD/USD

General overview

The NZD/USD edged lower amid a stronger dollar. Meanwhile, oil prices weakening weigh on commodity currencies – like the kiwi.

Current situation

The NZD/USD pair turned positive on Wednesday. An overnight rebound lifted the kiwi out of the red. The New Zealand dollar broke 0.7000 in the Asian session and headed towards 0.7050 in European trades. However, the upward momentum faded soon. After posting a daily high at 0.7020 the NZD returned to 0.7000 handle. The price was between the 50 and the 200-EMAs in the 4 hours chart. The 50-EMA headed north crossing the 100-EMA upwards. The 100 and the 200-EMAs were flat in the same chart. The resistance is highlighted at 0.7000, the support comes in at 0.6950.

MACD traded to the downside. The RSI indicator left the overvalued readings and entered the neutral area.

Trading recommendations

We expect the NZDUSD pair to return to the support 0.6950 in the short-term. In this scenario the spot may continue its decline towards 0.6900.

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XAU/USD

General overview

Gold stayed bullish heading into Trump’s new conference scheduled later on the day.

Current situation

Gold maintained its bid tone trading in the green zone on Wednesday. The upmove, however, lacked momentum around 1190 where the precious metal faced sellers' resistance. The 4 hours chart showed that the price continued developing well above the moving averages. The 50 and the 100-EMAs pointed higher while the 200-EMA remained flat. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD remained at the same level which confirmed the strength of buyers. RSI indicator consolidated within undervalued territory.

Trading recommendations

We consider a possible correction towards the support 1180. Should the metal breaks the level down the pair may extend its losses towards 1170 dollars per ounce.

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Brent

General overview

Oil prices managed to reverse a minor portion of their losses in the early trades on Wednesday. However, the recovery was limited due to doubts over OPEC deal non-compliance.

Current situation

Oil prices found strong support at the level of 53.50 dollars per barrel. Being unable to break the handle the benchmark rolled back. The ongoing recovery could be attributed to some profit taking from bears following Tuesday's sharp sell-off. Brent oil prices were calm during the Asian session and accelerated their growth in the European one. The price was struggling with the 200-EMA which provided a solid support for the Brent in the 4 hours chart. The 100 was neutral, the 200-EMAs moved upwards while the 50-EMA headed south in the same chart. The resistance lies at 54.50, the support comes in at 53.50 dollars per barrel.

The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator remained within the oversold territory.

Trading recommendations

We believe the market is overbought and vulnerable to a further downward correction. Brent may suffer more losses if the benchmark breaks below 53.50. Sellers may drag the price towards 52.50 dollars per barrel.

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DAX

General overview

European financial stocks edged higher despite cautious sentiment in the market amid Donald Trump's press-conference.

Current situation

Traders kept the price in a near-term directionless mode in the Asian session Wednesday. DAX extended its consolidative pattern staying in the familiar range between 11600 and 11500 levels. The index started the day from the upper limit of the range. Staying around 11600 in the Asian session the benchmark sharply dropped to 11520 at the start of the European session. After touching the level 11500 the benchmark reversed its direction and jumped back to the 11600 hurdle. The price bounced off the 50-EMA in the 4 hours chart. The moving averages pointed higher in the same chart. The resistance exists at 11600, the support stands at 11500.

MACD indicator was at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. RSI left the neutral area and headed north.

Trading recommendations

Any move below the immediate support would increase chances of testing the 11500 mark, en route to 11400. Alternatively, a bullish momentum is likely to be regained if the benchmark breaks above 11600.

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NASDAQ

General overview

Wall Street futures were flat at the open on Wednesday as investors looked forward to Trump’s first press conference since his election victory later in the day. Traders did not hurry to build up fresh positions preferring wait and see mode.

Current situation

After posting fresh multi months highs at 5044 the index rolled back and returned to 5020 where buyers took a breath consolidating their recent gains. Another attempt to grow took place in the early trades on Wednesday. Buyers managed to reverse their early losses and moved the benchmark to 5030. According to the 4 hours chart the price continued developing well above the moving averages. The moving averages kept pointing higher in the mentioned timeframe. The resistance is at 5060, the support comes in at 5020.

MACD remained at the same level which confirms the strength of buyers. RSI consolidated within the positive area.

Trading recommendations

We prefer to stay bearish for now. If we see a close below 5020 we will sell. Our next level to focus on is 4980.

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*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

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ValdisFFS
 
Posts: 537
Joined: Sat Jul 05, 2014 9:38 am

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