"Fort Financial Services"- fundamental and technical analysi

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

Postby ValdisFFS » Thu Feb 09, 2017 12:09 pm

"Fort Financial Services"- fundamental and technical analysis.

10.02.2017

Euro

General overview

The US dollar trades against the euro in a narrow range as the political and economic future of the United States became more uncertain. Inventors prefer risk-off sentiment. The market ignored the weak export and trade balance data in Germany. Moreover, Evans and Bullard’s reports (the FOMC representatives) will be under the spotlight later the day.

Current situation

The price was positive during the night trades. Having found fresh bids around 1.0670 the spot turned bullish and rallied to 1.0700. However, a bid tone sharply weakened in the European session. The spot failed to retake 1.0700 and retreated. The 4 hours chart showed that the price continued staying between the 100 and the 200-EMAs during the day. The 50 and the 100-EMAs were neutral while the 200-EMA pointed higher in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

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

Trading recommendations

The overall outlook remained bearish. Sellers need to regain 1.0650 to extend gains. A break below the handle will open the way to 1.0600. A move towards 1.0750 and break above the hurdle will neutralize the current downward scenario.

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Pound

General overview

British Parliament approved bill without changes to start Brexit (494 votes to 122). The British PM will soon start parting with the European Union. The decision boosted the sterling's growth. Meanwhile, political uncertainty in Europe also contributed the cable growth. Investors’ attention now turns to the Mark Carney’ speech in the evening.

Current situation

The pound maintained its bullish bias in the early trades on Thursday. A fresh buying pressure around 1.2500 pushed the spot upwards. The Cable rallied and reached 1.2600 post London's open. However, the rally seems to have run out of steam ahead of the NY opening. The major slowed down and slightly moved back. The price bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. The majors stayed above their moving averages afterwards. The 100-EMA was bullish, the 50 and the 200-EMAs remained neutral in the same chart. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI left the neutral area and moved north.

Trading recommendations

In a wider perspective the GBPUSD pair could gain bullish momentum, if it recovers above the 1.2600 area, the spot will probably maintain bulls in the driver's seat towards the 1.2700 level.

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Yen

General overview

The yen trades vs. the US dollar in a narrow range due to the meeting between Donald Trump and Japanese Prime Minister Shinzo Abe. The Japanese yen seem to benefit from the growing political uncertainty in Europe.

Current situation

The USD/JPY pair remained under pressure on Thursday. The price was flat out hovering above 112.00 during the morning hours. The rise in the dollar demand pushed the majors upwards post-European open. The price continued developing well below its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs kept pointing lower in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD decreased which indicates the buyers’ positions weakening. RSI left the oversold territory and entered the neutral area.

Trading recommendations

We expect an upward correction which will start as soon as the pair rises above 112.50. The price may extend its rise towards the 113.00 area.

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NZD/USD

General overview

The New Zealand dollar significantly fell following the Reserve Bank of New Zealand decision to leave the rate unchanged at 1.75 percent.

Current situation

The NZD/USD pair maintained its offered tone on Thursday. The kiwi found a solid support at 0.7200 in the night. The price faced upward rejection after touching the level and slightly rolled back staying close to three-week lows. A bout of NZD weakness pressured the spot ahead of the NY opening. The NZD/USD struggled to break below 0.7200 in the second part of the day. According to the 4 hours chart the price broke the 50 and the 100-EMAs downwards. The 50 and the100-EMAs were neutral while the 200-EMA kept pointing higher in the mentioned timeframe. The resistance is highlighted at 0.7250, the support comes in at 0.7200.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator left the neutral territory and headed south.

Trading recommendations

The NZDUSD pair eyes strong support at 0.7200 level now. However, the major may change its trajectory to bullish. The potential buyers’ targets are 0.7250 and 0.7300.

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XAU/USD

General overview

Gold prices moderately strengthened, staying near the 3-month high due to the growing concerns around the political situation in Europe and the US economic uncertainty.

Current situation

The trend is clearly bullish for now. The price negated night losses and refreshed its highs in the European session. The XAU/USD bounced from 1240 and jumped to 1243 in the early European trades. After touching the mark a buying pressure ran out of steam and the spot sharply dropped below 1240 dollars per ounce. The XAU/USD pair remained in an upward channel. Meanwhile, the yellow metal tested its lower boundary ahead of the Wall Street opening. The gold price hovered above its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator left the overvalued area.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After a close above 1240 the gold price may extend its bullishness to 1250. However, overbought daily studies point to a correction in the short term. In this potential scenario sellers may drive the precious metal to 1230 dollars per ounce.

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Brent

General overview

Unexpected drop in US inventories supported oil prices, but the remaining supply glut limited its further growth.

Current situation

Brent kept the upbeat tone unchanged on Thursday. Fresh bids around 55.50 fueled the upward bias pushing the benchmark higher. Traders broke 55.50 post-European open. The advance lost upward momentum around 56.00. After posting a daily high black gold rolled back. The benchmark failed to retake the 50-EMA and bounced off it downwards in the 4 hours chart. The moving averages were flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. The RSI left the oversold area and moved upwards.

Trading recommendations

Bulls continue to control the market. We recommend placing buy orders if the benchmark stays above 55.50 dollars per barrel. The potential buyers’ target is 56.50. A failure here will indicate that our bullish expectation is wrong.

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DAX


General overview

European stocks opened green on Thursday. The market has been growing the third session in a row. Societe Generale and the Total shares were getting stronger following their quarterly earnings.

Current situation

The index gapped higher at the open on Thursday. The bears appeared to have loosened grip allowing the benchmark to reverse its previous losses. DAX grew and tested 11600 in the American session. The 1 hour chart showed that the benchmark broke the 100-EMA and tested the 200-EMA. The 50 and the 100-EMAs were bearish while the 200-EMA was flat in the same chart. The resistance exists at 11600, the support stands at 11500.

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

Trading recommendations

We believe that the index might extend its recovery towards 11600 and 11700 levels.

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S&P500

General overview

Wall Street edged higher amid oil prices rally. All eyes are on earnings reports.

Current situation

The index opened green on Thursday. S&P500 slightly grew in the Asian session. The benchmark maintained its bid tone during the European hours trending towards 2300. The price bounced off the 50-EMA upwards in the 4 hours chart. The index stayed above its moving averages during the day. The 50-EMA was flat while the 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance is at 2300, the support comes in at 2280.

The MACD histogram grew which indicates buyers’ strength. RSI moved upwards.

Trading recommendations

The bullish trend remained intact. A break above 2300 may suggest a further growth towards 2320 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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Sun Feb 12, 2017 12:51 pm

"Fort Financial Services"- fundamental and technical analysis.

13.02.2017

Euro

General overview

French Non-Farm Payrolls showed strong data, however, the euro ignored these figures. The common European currency is under pressure amid growing political risks related to the Presidential elections in France. The upcoming elections in Germany. Netherlands and Italy give additional pressure on the euro. Moreover, the US Dollar price-dynamics is underpinned by Trump upcoming tax reform plan.

Current situation

The US dollar kept getting stronger on Friday. After a night light recovery the euro kept losing its value in the European session. Traders broke the level 1.0650 and continued pushing the price lower in the NY session. The EURUSD pair broke the 200-EMA in the 4 hours chart. The 50 and the 100-EMAs remained bearish-neutral while the 200-EMA was bullish in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

The MACD histogram decreased which is a sell signal. RSI left the neutral territory and stayed within the oversold readings favoring a new move lower.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 1.0600. A close below the mentioned support could additional weakness towards 1.0550.

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Pound

General overview

The UK Industrial Production came in above expectation and provided a temporal support to the pound. However, a large US dollar recovery across the board made the Cable retreat.

Current situation

The pound remained neutral during the Asian hours on Friday. The spot stayed around 1.2500 flirting with the handle to go lower. Traders managed to break the level in the late European session and drove the spot towards 1.2450. According to the 4 hours chart the price broke the 50 and 100 EMAs downwards. The 50 and the 200-EMAs were neutral, while the 100-EMA kept pointing higher in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

Any move below 1.2500 would increase chances of testing the 1.2400 handle.

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Yen

General overview

The US dollar strengthened after Trump agreed to support “One China” policy. Investors ignored upbeat Japanese Domestic Corporate Goods Price index.

Current situation

The US dollar recovery stalled around 114.00. Buyers did not find any reason to lift the price higher. The pair turned around in the European session and slightly rolled back. The USDJPY pair broke the 50 and the 100-EMAs upwards in the 4 hours chart. The 50 and the 100-EMAs were neutral and the 200-EMA maintained its bearish slope in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. RSI was within the overvalued readings.

Trading recommendations

We expect to see renewed bullish pressure in the short-term. The next level to focus on is 113.00.

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USD/CAD

Current situation

The pair was neutral during the night hours on Friday. The Asian recovery stalled above 1.3120. The US dollar tried to extend its gains, however, its attempts were weak. A fresh selling pressure weighed on the spot and returned the price below 1.3120 in the second part of the day. The US dollar lost ground and almost reached 1.3050 ahead of the NY opening. The 4 hours chart showed that the price bounced off the 50-EMA downwards and tested the 100-EMA. The USDCAD pair stayed below the 100 and the 200-EMAs during the day. The 50 and the 100-EMAs were neutral while the 200-EMA kept pointing lower in the mentioned timeframe. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

MACD decreased which indicates the buyers’ positions weakening. The RSI stayed within the overvalued readings close to the neutral territory.

Trading recommendations

We prefer to stay bearish for now. We will place sell orders if the USDCAD pair stays below the 1.3120 level. The next sellers’ target is 1.3050.

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XAU/USD

General overview

Gold remained under pressure after Trump’s tax announcement. Moreover, the upbeat Chinese Trade Balance added extra pressure.

Current situation

Sellers met a barrier in the 1220 region. Bears were unable to drive the Forex pair lower and retreated giving the way to buyers. The price bounced off 1220 dollars per ounce and reversed some of its recent losses. The gold price bounced from the 50-EMA in the 4 hours chart. The spot continued developing well above its moving averages during the day. The 50 and 200-EMAs were bullish while the 100-EMA remained neutral in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI consolidated within the oversold area.

Trading recommendations

The bullish scenario prevailed on Friday. A close above 1230 will trigger fresh gains towards 1240 dollars per ounce.

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Brent

General overview

The upbeat Chinese oil imports data supported oil prices. OPEC and non-OPEC members production decline added additional impetus to black gold.

Current situation


Brent maintained its bullish sentiment on Friday. The price bounced off 55.50 dollars per barrel at the daily open and climbed above 56.50 in the NY session. However, Brent lost some vigour above 56.50 and fell on profit-taking action. The 4 hours chart showed that the benchmark broke its moving averages upwards. The moving averages remained mixed 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 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 moved upwards.

Trading recommendations


The technical picture presents a slightly bullish tone. Brent oil prices now seem to be heading towards its immediate support near 55.50. To return control buyers need to retake 56.50 dollars per barrel.

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DAX

Current situation

Despite the positive sentiment at the open the index turned bearish during the late European hours. DAX gapped upwards at the daily open and briefly continued its upward trajectory. The price tested 11700 and moved back immediately after the level test. Sellers seized control and pushed the benchmark downwards later the day. The index broke the 100 and the 50-EMAs in the 4 hours chart. The benchmark stayed above its moving averages during the day. The 50 and the 100-EMAs were flat while the 200-EMA was bullish in the same chart. The resistance exists at 11700, the support stands at 11600.

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

We prefer the scenario where the buyers keep control over the index. We expect further upwards moving towards the 11800 level.

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NASDAQ

General overview

Wall Street opened in green on Friday after D. Trump said that he will start a tax reform plan in the coming weeks.

Current situation

Bulls gave up their recent gains and slightly retreated on Friday. The price rolled back below its immediate support - 5220 and stayed there flat the whole day. The benchmark hovered above its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance is at 5220, the support comes in at 5180.

The histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

We await a break above 5220 level to trigger another leg higher towards the 5260 hurdle. The next potential buyers’ target is 5300.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Mon Feb 13, 2017 11:44 am

"Fort Financial Services"- fundamental and technical analysis.

14.02.2017


Euro

General overview

The euro reversed a minor part of its losses following the results of Abe-Trump meeting. Meanwhile, dispute about helping Greece weighing on the euro. All eyes are on Germany GDP now where analysts predict the growth in the 4-th quarter.

Current situation

The EUR/USD pair preserved its undertone on Monday. The price remained in a descending channel. The euro found a solid support at 1.0600 and bounced off the level at the daily open. The spot approached the upper limit of a downward channel post-European open. The euro found fresh offers ahead of the NY opening and extended its losses afterwards. The major failed to retake the 200-EMA and pushed away from it in the 4 hours chart. The spot stayed below its moving averages during the day. The 50-EMA crossed the 100-EMA downwards. The 100 and the 200-EMAs pointed higher while the 50-EMA pointed lower in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

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

Trading recommendations

From a wider perspective, the euro is expected to remain exposed to further downside risks. The technical picture presents a mild bearish tone. A failure to hold above 1.0650 level risks a slide to 1.0600 mark and 1.0550 mark en route.

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Pound

General overview

The USD and UK's economic calendars were empty. The trading was influenced by the dollar fluctuations and a risk-on tendency. The market will be focused on UK inflation report. Traders expect to see a growth in January comparing to the previous year.

Current situation

The price turned bullish in the early trades on Monday. The pair met extra buying pressure at the weekly opening. Buyers pushed the price upwards and broke 1.2500 in the Asian trades. The bears slightly loosened their grip in the early European trades. However, a fresh selling interest returned the cable below 1.2500 in the American session. The price bounced off the 100 and the 50-EMAs in the 4 hours chart. The major stayed around the 50 and the 100-EMAs during the day. The 50-EMA headed lower while the 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

The GBPUSD pair seems unable to climb above 1.2500. A downtrend will start as soon, as the pair drops below the support level 1.2400. Should that level break down the next bearish target is 1.2300.

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Yen

General overview

The dollar rose against the yen following a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe. The Japanese GDP came in slightly below expectations adding some extra pressure to the yen.

Current situation

The Japanese currency maintained control of the flows. Despite the positive opening the bid tone did not last long. Buyers tested the level 114.00 in the Asian session but failed to reclaim it. Sellers fought back control and pushed the spot to the opening prices in the early European session. According to the 4 hours chart the USDJPY continued developing well above the 50 and the 100-EMAs. The 50 and the 100-EMAs remained neutral while the 200-EMA kept pointing lower in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

The MACD indicator is bullish and is still in positive territory. RSI was within the overvalued readings.

Trading recommendations

A close above 114.00 level may generate fresh bullish signal for further advance, which could extend to 115.00 hurdle.

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AUD/USD

Current situation

The AUD failed to continue its upward trajectory when it met a solid barrier at 0.7700. The buying momentum eased and the spot retreated to 0.7650 on Monday. The AUDUSD pair tested the 50-EMA in the 4 hours chart. The spot remained above its moving averages. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance is highlighted at 0.7700, the support comes in at 0.7650.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI left the neutral area and stayed within the overvalued readings.

Trading recommendations

Inability to break above 0.7700 might force the AUD/USD pair to resume its downward trajectory towards 0.7600 and 0.7550 levels.

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XAU/USD

General overview

Gold prices weakened on Monday following Trump's last actions which reduced investors’ fears regarding his controversial policies. All eyes are on Janet Yellen's speech on Tuesday.

Current situation

The bullish spike lost its legs a few pips below 1240 dollars per ounce. Buyers failed to extend its recovery and moved back. The precious metal returned to 1230 and stayed within its region ahead of the US session opening. A fresh selling interest emerged in the American session and drove the metal towards 1220. The 4 hours chart showed that the gold price bounced off the 50-EMA upwards. All moving averages maintained their bullish slope in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

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

Trading recommendations

We prefer to stay bearish for now. The 1220 level seems to be the next probable bearish target. The price may extend its decline towards the 1210 area in the coming sessions.

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Brent

General overview

Oil prices edged lower on Monday on supply concerns. The price weakened despite the recent output falls. We believe Brent lost ground amid increased drilling activity in the U.S.

Current situation

A consolidation phase did not last too long. After staying a while above 56.50 dollars per barrel the price dropped back below the level during the European morning trades. Sellers managed to push the benchmark to 56.00 first. The ask sentiment remained intact in the second part of the day. Brent kept losing its ground in the North American session. Brent oil price broke the 50-EMA and tested the 100 and 200 EMAs in the NY session. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI left the overvalued readings heading south.

Trading recommendations

The benchmark needs to consolidate below the 56.00 zone to ease the recnet bullish pressure. As the most probable scenario we expect further easing of the oil price towards the 55.50 mark.

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DAX

General overview

European stocks edged higher on Monday amid higher copper prices. Energy stocks and financial stocks traded mixed on Monday.

Current situation

The market looks very bullish now. Buyers managed to break the 11700 level and pushed the price higher in the late European session. DAX extended its bullishness during the day and reached 11800 at the NY opening. The index remained above its moving averages in the 4 hours chart. The 50 and the 100-EMAs were flat while the 200-EMA maintained its bullish slope in the same chart. The resistance exists at 11800, the support stands at 11700.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI consolidated within the overvalued territory.

Trading recommendations

We expect to see renewed bullish pressure. If the bullish tone persists we expect a breakout of the level 11800.

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S&P500

General overview

Risk-on mode coupled with last D.Trump's actions supported Wall Street sending the stocks to fresh all-time highs.

Current situation

S&P500 held a bullish tone on Monday. The price retreated from its recent highs but remained in its upward channel in the Asian session. The lower limit of the channel stopped sellers and rejected the price during the European trades. The benchmark had reversed a large part of its losses by the NY opening. The price hovered above its moving averages in the 4 hours chart. All the moving averages remained bullish in the same chart. The resistance is at 2320, the support comes in at 2300.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

The overall outlook remains bullish, for rise towards 2340 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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Tue Feb 14, 2017 12:06 pm

"Fort Financial Services"- fundamental and technical analysis.

15.02.2017

Euro

General overview

The euro could not continue its rally and went down after the downbeat Germany and Eurozone data. The preliminary Eurozone GDP for the 4th quarter came in below expectations. The Eurozone Economic Sentiment for February declined as well.

Current situation

The euro closed on a weak note on Monday. Sellers met a barrier at 1.0600 and failed to retake it. After a brief consolidation phase fresh bids around 1.0600 helped buyers to raise the spot and to reverse a minor part of its losses in the Asian session on Tuesday. However, the upward momentum ran out of steam soon and the EUR/USD softened erasing all its daily gains. The single European currency returned to 1.0600 in the mid-European session. The price tested the 200-EMA but failed to reclaim the moving. The spot bounced off the 200-EMA and headed downwards. The 100 and the 200-EMAs remained bullish while the 50-EMA headed south in the mentioned timeframe. Moreover, the 50-EMA crossed the 100-EMA downwards which is another sell signal. The resistance is at 1.0650, the support comes in at 1.0600.

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

Trading recommendations

We believe that a bearish trend will remain intact in the near term. A clear break below 1.0600 would indicate that the bearish phase has resumed. The majors may extend their decline towards the 1.0550 handle.

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Pound

General overview

The pound fell on the back of disappointing inflation data. The UK’s inflation accelerated to its highest level in more than two years in January. Annual increase in January surpassed its previous figures but remained below the forecast.

Current situation

The cable extended its recovery in the Asian session and reached 3-day highs around 1.2550 where the spot ran through fresh offers. The pound returned under selling pressure in the early European trades. Sellers moved the GBP/USD pair lower and broke 1.2500 with London opening. The spot extended its losses afterwards and posted a daily low at 1.2450. After touching the mark the downward momentum lost its legs allowing buyers to recover a bit. According to the 4 hours chart the price broke the 50 and the 100-EMAs downwards. The 50-EMA crossed the 100-EMA downwards. The 50-EMA pointed lower while the 100 and the 200-EMAs headed north in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

The technical picture presents a bearish tone. If the GBPUSD pair fixates below the 1.2500 level the pound may extend its weakness. The potential sellers’ targets are 1.2400 and 1.2350.

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Yen

General overview

The U.S. dollar fell vs. the Japanese currency. Japanese Industrial production exceeded investors’ expectations providing a moderate support for the major.

Current situation

The USD/JPY pair maintained its ask tone on Tuesday. Inability to break above 114.00 returned sellers to markets pushing the spot to fresh lows. The pair extended its bearishness in the Asian session and dropped to 113.20 where sellers took a pause post-European opening. The USDJPY pair found a solid support at the 100-EMA in the 4 hours chart. The spot stayed between the 200 and the 100-EMAs during the day trades. The 50 and the 100-EMAs were flat and the 200-EMA headed south in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD decreased which indicates the buyers’ positions weakening. RSI left the overvalued readings and entered the neutral territory.

Trading recommendations

The bullish momentum is likely to be regained. A daily close above 114.00 would risk further advance up to the 114.50 region.

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NZD/USD

Current situation

The NZD/USD pair maintained its gloomy trend on Tuesday. The price is in a short-term downward channel. The major bounced off the lower limit of the channel on Monday and reached its upper one in the Asian session on Tuesday. The NZD failed to break the upper band and rolled back staying within its region. The 4 hours chart showed that the price found a decent support at the 200-EMA. The moving averages rejected the pair upwards. The 50-EMA crossed the 100-EMA downwards. The 100 and the 200-EMAs headed north while the 50-EMA pointed lower. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

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

Trading recommendations

All eyes are right now at the support level 0.7150. A cut through here will turn attention to the 0.7100 level.

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XAU/USD

General overview

Gold prices moderately rebounded on Tuesday as investors focused on Janet Yellen’s remarks to get some clues on the timing of the next rate hike.

Current situation

Gold prices stalled its recovery mode and traded sideways near 1230 region in the Asian session. The precious metal traded modestly flat during the European hours. Gold bulls seemed to have taken a breath from Monday’s sharp decline and consolidated their gains. The precious metal tested the 50-EMA upwards in the 4 hours chart. The XAU/USD pair was above its moving averages during the day. All the moving averages kept pointing higher in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

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

Trading recommendations

A move below 1220 level would indicate that immediate upward pressure eased. The next portable bearish target is 1210 dollars per ounce.

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Brent

Current situation

Brent oil prices gapped higher at the daily open. Sellers closed the gap in the night and returned the price to 55.50 where a fresh buying interested pushed the benchmark upwards. The price spiked and reached 56.20 in the early European trades. Buyers failed to advance further and retreated a bit afterwards. The 4 hours chart showed that the oil price broke its moving averages upwards and stayed above them. The 50, 100 and the 200-EMAs were neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

We prefer to stay bearish for now. If the 55.50 support breaks, the price may fall further that should send this market looking for the 55.00 level.

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DAX

Current situation

DAX gapped higher at the daily open. The price made a good jump from 11725 to 11779. Buyers tested the level 11800 but failed to break the handle. The index faced a downward pressure and returned below the level. The benchmark traded sideways before the American session opening. The index hovered above its moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 11800, the support stands at 11700.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI consolidated within the overvalued territory.

Trading recommendations

The overall outlook remains bullish, for a rise towards 11900 resistance area. We will place the buy orders only if the index breaks 11800 level. Meanwhile, DAX index has a potential to fill the gap. The price may fall to 11700 in this scenario.

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NASDAQ

Current situation

After reaching 5260 the price stopped gaining steam for a fresh leg higher. The index ignores all overbought readings and maintaining its bid tone. NASDAQ stayed in a narrow consolidation range during the Tuesday's trades staying around 5260. According to the 4 hours chart the benchmark hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5260, the support comes in at 5220.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator consolidated within the overvalued readings.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After breaking the 5260 hurdle further extension to 5300 is not ruled out.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Wed Feb 15, 2017 11:12 am

"Fort Financial Services"- fundamental and technical analysis.

16.02.2017

Euro

General overview

The U.S. dollar remained near its fresh highs against other majors. Janet Yellen’s "hawkish" comments supported the US dollar reviving hopes for the rates hike in March. The information from Spain added additional pressure on the euro as consumer price index in January fell despite the forecasts.

Current situation

After touching the level 1.0550 the euro bounced off and was able to reverse a minor part of its losses. The overnight’s recovery attempt stalled just under 1.0600 barrier. The pair came under renewed selling pressure and slipped into negative territory in the late Asian session. Sellers continued pushing the price lower and tested 1.0550 in the late European session. The major continued developing well below its moving averages in the 4 hours chart. The 50 and 100-EMAs maintained their bearish slope while the 200-EMA kept pointing higher in the mentioned timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

The MACD indicator is bearish and is still in negative territory. RSI indicator stayed within oversold readings favoring a new move lower.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. A decisive break below 1.0550 level is likely to accelerate the slide towards 1.0500.

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Pound

General overview

The pound updated its lows on the back of mixed employment statistics. The UK's unemployment rate remained unchanged in December while Claimant Count Change dropped stronger than expected. Moreover, the major got under selling pressure after Janet Yellen's statements on Tuesday.

Current situation

A brief phase of night consolidation ended during European morning trade. The pound faced further downside pressure and accelerated its decline. The price touched the level 1.2400 after London's opening. The GBPUSD pair stayed below the 50 and the 100-EMAs in the 4 hours chart. The 50-EMA headed south while the 100 and the 200-EMAs pointed higher in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

The MACD histogram decreased which is a sell signal. RSI indicator left the neutral territory and stayed in the oversold area.

Trading recommendations

The bearish scenario prevailed on Wednesday. After a close below the support at 1.2400 we could see GBP/USD extending its decline down to 1.2300.

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Yen

General overview

The pair updated fresh highs in the light of a stronger dollar after Yellen's hawkish remarks. Her speech revived market expectations for the rate hike in March.

Current situation

We maintain a near-term positive bias for the USD/JPY pair. After Tuesday's rally the pair went back and forth in a 30-pips narrow range in the night session. The major remained range-bound to higher in the European one. A fresh buying interest emerged in the late European session giving the spot an upward impetus. The 4 hours chart showed that the USDJPY pair broke all the moving averages upwards. The 50-EMA pointed higher, the 100-EMA was flat and 200-EMA moved lower in the same chart. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD remained at the same level which confirms the strength of buyers. RSI consolidated within the overvalued readings.

Trading recommendations

The overall outlook remained bullish for a rise towards 115.00 resistance area. A break above the level risks a growth towards the 116.00 hurdle.

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USD/CAD

General overview

The pair traded in red despite fresh buying interest around the US dollar after the supportive Yellen's statements. Speculation around a soon rate hike improved market sentiment. According to Yellen it wouldn't have any sense to wait a lot to tighten further the monetary policy. Moreover, J.Lacker suggested that the regulator could hike the rate more than 3 times in 2017.

Current situation


The price maintained its bearish tone on Wednesday. The US dollar bullish spike faded and the major softened erasing its previous gains. The USD/CAD pair traded in a tight range in the European session staying range-bound to higher. The price tested the 50 and the 100 EMAs in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 100 and the 200-EMAs headed south while the 50-EMA pointed higher. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

The MACD indicator was bearish and remained in negative territory. The RSI left the oversold readings and stayed within the neutral area.

Trading recommendations

We expect to see renewed bullish pressure. An uptrend will start as soon, as the USD/CAD pair rises above the resistance level 1.3120. The next level to focus on is 1.3190.

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XAU/USD

General overview

Gold prices slightly changed on Wednesday. The yellow metal weakened after U.S. Federal Reserve Chair Janet Yellen left open the possibility of rate hike in March. In addition, the positive comments over the US labor market strength and strong inflation forecast fueled the US dollar growth.

Current situation


Gold traded with bearish bias on Wednesday. After a volatile Tuesday the precious metal stabilized amid broad based US dollar consolidation. The price slightly weakened in the Asian session and traded around 1225 during the European one. According to the 4 hours chart the spot broke the 50-EMA downwards. The gold metal was between the 50 and the 100-EMAs during the day. All the moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

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

Trading recommendations

In order to recover some strength, the gold metal needs to rise back and hold above 1240. As the most probable scenario, we consider further moving downwards towards the level at 1220, and 1210 en route.

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Brent

General overview

Brent traded in red amid investors' doubts about OPEC and non-OPEC members low compliance. The market focused on Crude Oil Stocks change.

Current situation

The black gold also returned to the red zone on Wednesday. The price failed to survive at local highs at 56.50 and sharply dropped to its nearest support - 55.50 dollars per barrel. The benchmark remained above the level flirting with the last to move lower. The benchmark broke its moving averages downwards and stayed below them in the 4 hours chart. The 50, 100 and the 200-EMAs remained neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

We await a break below 55.50 handle to trigger another leg lower. A further decline would generate negative signal and risk further easing of the Brent oil price towards the 54.50 level.

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DAX

General overview

European stocks grew as the banking sector moved higher. Besides, strong earning reports provided an additional boost to the shares.

Current situation

DAX gapped higher at the open. The price jumped through 11800 and slightly grew afterwards. Buyers failed to maintain its upward trajectory and stepped away. The benchmark edged lower and broke 11800 in the late European session. The index price continued developing well above its moving averages in the 4 hours chart. The 50 and the 100-EMAs were neutral while the 200-EMA headed north in the same chart. The resistance exists at 11800, the support stands at 11700.

The MACD histogram grew which indicates buyers’ strength. The RSI consolidated within the overvalued territory favoring a new move higher.

Trading recommendations

The index price seems to be unable to climb over 11850 mark. Firm break below 11800 handle would open 11700. The current decline we consider corrective.

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S&P500

Current situation

S&P500 was unable to climb higher and retreated from its recent all-times highs. After touching 2340 the price rolled back and stopped at 2334 ahead of the NY opening. According to the 1 hour chart the index price bounced off the 50-EMA and remained above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 2340, the support comes in at 2320.

The MACD histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

The index is in corrective phase now. If the price fixates below 2330 the benchmark may extend its weakness in the short term. The potential sellers’ target is 2320.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Thu Feb 16, 2017 3:03 pm

"Fort Financial Services"- fundamental and technical analysis.

17.02.2017

Euro

General overview

The employment in Germany rose at the slowest pace for three years in the 4th quarter 2016. The unemployment level in France dropped more than expected. Nevertheless, the euro rose on Thursday amid the US dollar broad based retracement on profit taking action.

Current situation

The pair seems to have run through fresh bids around 1.0500 on Wednesday. The spot received the upward impetus and jumped upside. The common European currency extended its recovery on Thursday. Buyers broke the 1.0600 hurdle in the Asian trades and pushed the spot higher. The EUR/USD pair was growing the whole morning and approached 1.0650 post-European open. The level stopped buyers’ further advance. The 4 hours chart showed that the price tested the 200-EMA in the late European session. The 50-EMA crossed the 100-EMA downwards. The 50 and the 100-EMAs headed south while the 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

MACD grew which indicates the sellers’ positions weakening. RSI indicator stayed within neutral area and headed north.
Trading recommendations

We believe that a close above 1.0650 will generate fresh bullish signal for further advance, which could extend to the 1.0700 barrier. If buyers fail to retake 1.0650 the euro may return below 1.0600.

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Pound

General overview

The pound returned some of its early losses and came back to the session highs despite the disappointing inflation and labor market reports. Today all British investors are focused on retail sales release.

Current situation

Sellers stopped when they met a barrier at 1.2400 on Wednesday. The level rejected the price which spiked upwards immediately after the level test. The pound was slowly growing during the Asian hours and accelerated its upward trajectory in the European session. The GBP/USD pair tested the level 1.2500 at the London open but failed to advance beyond it. The pair bounced off the 200-EMA, broke the 100-EMA upwards and tested the 50-EMA in the 4 hours chart. The moving averages remained bullish-neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

A sustained break above the 1.2500 region is seen as minimum requirement needed to confirm bullish resumption. In this scenario, buyers may lead prices towards the 1.2600 mark. A failure here will return the price to a downside movement.

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Yen

General overview

According to the Japanese PM Taro Aso, the current yen rate is not low at all. Meanwhile, investors preferred to take profit amid the dollar retracement.

Current situation

The USD/JPY pair turned bearish on Wednesday. The price got under intense selling pressure and sharply dropped. Traders broke the level 114.00 at the daily open and drove the price lower in the night session. European traders continued pushing the price lower and reached the 113.50 mark in the mid-European session. The pair broke the 200-EMA downwards in the 4 hours chart. The spot stayed between the 50 and the 100-EMAs during the day. The 50-EMA was bullish while the 100 and the 200-EMAs headed south in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations


All eyes are now at the 113.50 mark. If the price fixates below the handle, the USD/JPY major may fall further sending this market looking for the 113.00 level. Inability to move the price lower shall return buyers in a driver’s seat.

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AUD/USD

General overview

The Australian dollar ignored the Australian labour market report despite its upbeat figures. The January employment report was quite neutral, the unemployment rate declined as the number of part time workers increased, while the number of full time workers dropped.

Current situation

The AUD/USD pair maintained its near-term upward trajectory on Thursday. The Aussie rallied on Wednesday and refreshed its multi-month highs at 0.7732. Investors did not find any reason to lift the Australian dollar higher and stepped back in the Asian session on Thursday. The pair declined amid profit-taking and tested the level 0.7700 in the European morning. The spot stayed around the level during the day. According to the 4 hours chart the price bounced off the 50-EMA upwards and stayed above its moving averages during the day. The 50, 100 and the 200-EMAs maintained their bullish slope in the mentioned chart. The resistance is highlighted at 0.7750, the support comes in at 0.7700.

The MACD traded to the upside. The RSI was within the overvalued readings.

Trading recommendations

The technical picture presents a bullish tone. We think that the AUDUSD pair might extend its gains towards 0.7750, and 0.7800 en route.

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XAU/USD

General overview


Gold rose amid the US dollar broad based weakness. However, gold advance was limited in the light of optimistic views over Trump's tax reform plans. Yellen's hawkish comments also limited its growth.

Current situation


Buyers fought back control over the market. The price reversed its direction when sellers failed to reclaim 1220 dollars per ounce. The level rejected gold prices upwards which rallied through 1230 on Wednesday and slowed down in the Asian session. A new day refreshed buyers’ strength pushing the spot higher. The XAU/USD pair reached 1240 dollars per ounce in the mid-European session. The level stopped bulls’ advance. The gold price bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. The precious metal continued developing well above its moving averages during the day. All the moving averages headed higher in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

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

Trading recommendations

A bullish tone prevails in the 4 hours chart. Any move above the immediate resistance 1240 dollars per ounce would increase chances of testing the 1250 mark.

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Brent

Current situation

There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened. Sellers reversed black gold and pushed the benchmark downward sending the market to the opening prices. The 4 hours chart showed that the benchmark broke its moving averages. The 50, 100 and the 200-EMAs were flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

We prefer to stay bearish for now. A move below 55.50 would indicate that immediate upward pressure eased. The next mark to focus on is 50.00 dollars per barrel.

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DAX

General overview

European stocks fell following uncertain corporate report after the longest 19 months rally.

Current situation

Bulls lost the initiative and gave the way to sellers who became stronger yesterday. The price bounced off 11800 in the morning trades and edged lower. Sellers pushed the price to 11750 in the mid-European session and kept the price within its region. The index remained above its moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA downwards. All the moving averages were pointed in the mentioned chart. The resistance exists at 11800, the support stands at 11700.

The MACD indicator was bullish and still in positive territory. The RSI headed south but remained within the overvalued readings.

Trading recommendations

We favor a short-term bearish bias now. If a bearish tone persists we expect a breakout of the level 11700. To retain its bullishness DAX needs to regain 11800.

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NASDAQ

Current situation

Bulls reinforced their positions when they broke above 5300. Traders took a pause after the recent rally gaining steam for fresh actions on Thursday. The index stayed in a tight range above 5300 during the day. According to the 4 hours chart NASDAQ hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5340, the support comes in at 5300.
The MACD histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings.

Trading recommendations

We expect a downward correction which will start as soon as the benchmark drops below the support level 5300. The next sellers’ target is 5260. Should the index recover ground and advance above the 5300 hurdle, the rally can extend in the short term up to 5340.

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

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ValdisFFS
 
Posts: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Fri Feb 17, 2017 2:14 pm

"Fort Financial Services"- fundamental and technical analysis.

20.02.2017

Euro

General overview

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece.

Current situation

The upside momentum seemed to have run out of steam on Friday. The euro was not able to surpass the mark 1.0680 and pulled back. The market was quite during the Asia session and became more agile in the European morning. European traders brought some dollar’s demand pushing the spot lower. The euro sharply dropped and tested 1.0650 post-European open. The level stopped sellers’ advance rejecting the pair upwards. The EURUSD pair bounced off the 100-EMA, broke the 200-EMA downwards and tested the 50-EMA. The 50 and the 100-EMAs pointed lower while the 200-EMA was bullish-neutral in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI indicator stayed within the overvalued readings and moved downwards.

Trading recommendations

EURUSD is having difficulties to go any higher. A break below 1.0600 suggests further weakness of the major towards the 1.0550 level. If the level stands it is a good time to buy on a dip.

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Pound

Current situation

From a technical point of view the cable remained within last week's trading range. The GBP/USD pair met a wave of selling pressure when the spot failed to reclaim the 1.2500 psychological mark. The pound sharply fell from 1.2500 in the Asian session and reached 1.2400 overnight. The handle stopped its further losses rejecting the price upwards. The GBPUSD major bounced off the 100-EMA, broke the 50-EMA downwards and tested the 200-EMA in the 4 hours chart. The100 and the 50-EMAs were flat while the 200-EMA was bullish-neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

The technical picture presents a light bearish tone. We suppose the major will go to 1.2400 first. Having overcome the first target the price might advance its decline towards the 1.2340 level.

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Yen

Current situation

Despite of Thursday's sharp sell-off buyers managed to defend 113.00 handle. The price stopped at the level and even staged a tepid recovery on Friday. According to the 4 hours chart the price broke the 100 and the 50-EMAs downwards. The USDJPY pair stayed below its moving averages afterwards. The 200 and the 100-EMAs pointed lower and the 50-EMA headed higher in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the negative area. If MACD remains within the negative territory, sellers’ positions will strengthen. RSI remained within the oversold readings favoring a new move lower.

Trading recommendations

The bearish trend remained intact. A firm break below 113.00 handle could trigger fresh weakness for attack at 112.00.

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NZD/USD

Current situation

The NZD/USD pair came under some renewed selling pressure and extended its slide below 0.7200 handle on Friday. After breaking the level sellers ran out of steam and took a break gathering strength for a fresh move lower. The major bounced off the 50-EMA downwards in the 4 hours chart. The spot continued developing well between the 50 and the 200-EMAs during the day. The 100-EMA was neutral, the 50-EMA pointed lower while the 200-EMA headed higher in the same chart. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

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 overvalued readings and was within the neutral area.

Trading recommendations

If the spot overcomes 0.7200 upwards we will neutralize our medium term negative outlook. Bulls may push the NZDUSD pair towards the 0.7250 level. Otherwise, a drop below 0.7150 will reinforce sellers’ positions opening doors for a continued weakness towards 0.7100.

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XAU/USD

Current situation

Gold remained around its recent peaks on Friday. The price failed to advance beyond 1240 facing sellers’ resistance on any up-move in the early trades. The metal made another attempt to grow in the late European session. The price pushed away from 1240 and reached 1245 in the NY session opening. The 4 hours chart showed that the gold price hovered above its moving averages. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI consolidated within the overvalued readings.

Trading recommendations

Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels.

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Brent

Current situation

Brent presented a modest bearish tone on Friday. The benchmark opened red and moved lower in the Asian session. Sellers reached 55.50 in the early European trades and broke the handle later the day. After breaking the level Brent oil prices extended their losses and tested the mark 55.00 ahead of the NY opening. The benchmark broke its moving averages downwards. The 50, 100 and the 200-EMAs were flat in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations


We recommend to sell if the benchmark consolidates below the level of 55.50. The potential sellers’ target is 54.50 dollars per barrel.

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DAX

Current situation

DAX gapped lower at the open on Friday. The index maintained its ask tone after the jump and moved lower. Sellers touched the level 11700 ahead of the NA opening. The index tested the 50 and the 100-EMAs 4 hours chart. DAX stayed above its moving averages. All the moving averages headed north in the same chart. The resistance exists at 11800, the support stands at 11700.

MACD decreased which indicates the buyers’ positions weakening. The RSI left the overvalued readings and headed south.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. A daily close below 11700 would risk 11600.

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S&PЗ500

Current situation

The index extended its bearish slide on Friday. The price retreated from 2347 in the Asian session and reached 2340 post-European open. The level halted sellers’ advance rejecting the price upwards. The index continued developing well above its moving averages in the 4 hours chart. All the moving averages maintained their bullish slope in the same chart. The resistance is at 2360, the support comes in at 2340.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed within the overvalued readings favoring a new move lower.

Trading recommendations

We prefer to stay bullish for now. If bulls retain control we cannot rule out the chance that S&P500 would reach the level at 2360.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Mon Feb 20, 2017 12:15 pm

"Fort Financial Services"- fundamental and technical analysis.

21.02.2017

Euro

General overview

The euro needs fresh drives to reverse significant losses which it suffered on Friday. Meanwhile, the common European currency might weaken further in the light of upcoming presidential elections in France. All eyes are on German Manufacturing PMI which is expected below forecasts.

Current situation

The EUR/USD pair remained in sellers' hands on Monday. Despite the overall negative picture the EUR/USD pair was trading in the green zone in the morning. Euro buyers were rescued by the 1.0600 handle which rejected the spot upwards. The euro reached 1.0630 where the recovery lost its legs. The price tested the 50-EMA in the 4 hours chart. The 50-EMA crossed the 200-EMA downwards. The 50 and the 100-EMAs headed south while the 200-EMA kept pointed higher in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

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

Trading recommendations

A close above 1.0650 will generate fresh bullish signal for further advance, which could extend to the 1.0700 level. A failure here will open doors for fresh sellers’ attack at 1.0600.

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Pound

General overview

The GBP/USD spiked and recovered almost all its Friday’s losses on Monday. The pound was able to strengthen amid a weaker dollar and a light market due to the public holiday in the USA. Moreover, Industrial Trends Survey came out better supporting the British currency. Today traders are waiting for the Mark Carney’s speech.

Current situation

In general, the market was in sellers' hands and the major remained in a consolidative structure between 1.2400 - 1.2600 during Monday’s trades. A fresh buying interest around 1.2400 helped bulls to revert last Friday sell-off. The price spiked to 1.2476 where the upward impetus lost its strength. According to 4 hours chart the price was between 200-EMA and 50-EMAs during the day. The 50 and the 100-EMAs kept pointing lower while the 200-EMA was bullish in the mentioned timeframe. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD grew which indicates the sellers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

If a bullish momentum remains intact the cable will have a chance to reclaim 1.2500. After a breakout of the 1.2500 level the spot may test 1.2544. On the other hand existing selling pressure may lead the major below 1.2400 towards 1.2340.

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Yen

General overview

The dollar rose against the yen on Monday. Donald Trump’s financial stimulus hasn’t come true yet. The current uncertainty over Trump’s plans weighs on the US dollar. Meanwhile, the yen weakened following the downbeat Foreign trade and Export reports.

Current situation

The dollar strengthened vs. the yen, pushing the USD/JPY pair back above 113.00 handle on Monday. The pair caught fresh bids and reversed majority of Friday's losses in the Asian session. Traders were able to push the price above 113.00 where their advance slowed down. The price was stopped by the 100-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 100 and the 200-EMAs pointed lower while the 50-EMA maintained its bullish slope. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD remained at the same level which confirms the strength of sellers. RSI was neutral.

Trading recommendations

If bulls control the market, the USD/JPY pair may try to reach 114.00 after breaking 113.40. Conversely, a break below 113.00 will open room for further downside towards 112.55.

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USD/CAD

General overview

Oil price dynamics coupled with difference between Fed and the Bank of Canada policies kept on weighing on the CAD.

Current situation

The USD/CAD consolidated in a tight range below the 1.3120 hurdle after a failure to regain the mentioned level. The price edged lower within the range in the Asian session and was able to reverse all its losses during the European hours. The 4 hours chart showed that the price found a decent support at the 100-EMA. The 50 and the 200-EMAs headed south while the 100-EMA was in a flat. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

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

Trading recommendations

All eyes are right now at the support level 1.3050. A move above the level will turn attention to the 1.3000 handle.

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XAU/USD

General overview

Gold weakened on Monday amid a light market as American stocks were closed due to the President's day celebration. Market players wait for further hints regarding Fed’s rate hike timing.

Current situation

The XAU/USD pair maintained a bullish tone on Monday. Gold consolidated above 1230 dollars per ounce after the Friday's sell-off. Sellers failed to retake the level which rescued buyers from further losses. The price pulled back in the Asian session and reached the 1235 mark in the morning. The spot hovered above the level before NY opening. The price bounced off the 50-EMA upwards in the 4 hours chart. The XAU/USD pair was above its moving averages during the day. The 200 and 100 EMAs maintained their bullish slope while 50-EMA was in flat in the mentioned chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI was neutral.

Trading recommendations

A move below 1230 level would indicate that immediate upward pressure eased. The next portable bearish target is 1220 dollars per ounce.

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Brent

General Overview

Oil prices grew due to OPEC’s output cut agreement ignoring the increased US drilling activity and record high inventories.

Current situation

Brent opened green on Monday. The price pushed away from 55.50 during the early hours on Monday. The benchmark was rallying the whole night and in the European morning. Oil futures reached 56.50 post-European open but failed to advance beyond. The hurdle rejected the price which eased erasing some daily gains. The 4 hours chart showed that the 50-EMA crossed the 200-EMA upwards. The benchmark continued developing well above its moving averages during the course of the day. The 50-EMA kept pointed higher, 100-EMA and the 200-EMA were flat in the same timeframe. 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 negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

We remain bearish. If the 55.50 support breaks, oil prices may fall further sending this market towards the 55.00 handle.

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DAX

General overview

European stocks slightly rose on Monday following telecommunication sector strengthening. However, Unilever's shares decline led the stocks lower.

Current situation

DAX gapped higher at the daily open. The price jumped through 11800 and slightly grew afterwards. The index reached the mark 11864 and suddenly changed its direction when a fresh selling pressure returned the benchmark to 11800 post European open. The index hovered above its moving averages in the 4 hours chart. The 50-EMA touched the 100-EMA. The moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 11900, the support stands at 11800.

The histogram grew which is a positive signal. The RSI indicator was near overvalued territory.

Trading recommendations

The overall outlook remains bullish, for a rise towards 11900 resistance area. However, we will place buy orders only if the index breaks the 11800 level. Meanwhile, DAX index has a potential to fill its morning gap. The benchmark may fall to 11700 in this scenario.

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NASDAQ

Current situation

The trend is clearly bullish for now. Bulls kept pushing the price upwards during the Asian session on Monday. They touched the 5340 hurdle in the European morning trades and bounced off the level immediately afterwards. According to the 4 hours chart the benchmark hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5340, the support comes in at 5300.

MACD remained at the same level which confirms the strength of buyers. RSI oscillator consolidated within the overvalued readings.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After breaking the 5340 hurdle we expect further extension to 5380.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Wed Feb 22, 2017 1:19 pm

"Fort Financial Services"- fundamental and technical analysis.

23.02.2017

Euro

General overview

The euro is under pressure amid growing concerns over the presidential elections in France and growing expectations over the possible Fed rate hike in March. Germany Business Climate came in above expectations despite the negative forecast. However, the market ignored the release.

Current situation

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows. The price bounced off 1.0550 and dropped to 1.0500 in the European morning. The 100-EMA tested the 200-EMA in the 4 hours chart .The 50 and 100 EMAs maintained their bearish slope while 200-EMA was neutral. The price continued developing well below the moving averages. The resistance is at 1.0550, the support comes in at 1.0500.

The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator consolidated within negative area.

Trading recommendations

A break below 1.0500 will trigger another leg lower. A move below 1.0500 would revive bearishness towards 1.0450.

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Pound

General overview

The UK's GDP showed upbeat result, however, the pound ignored the release.

Current situation

The pound maintained its neutral tone trading in a familiar range on Wednesday. The cable failed to sustain the Tuesday's recovery, the pair sharply dropped after touching 1.2500. The price reached 1.2450 within a few hours and stayed around the session low until the NY opening. The major bounced off the 100-EMA downwards and broke the 50-EMA. The 50 and 100 EMAs maintained their bearishness while the 200-EMA stayed neutral/positive. The resistance lies at 1.2500, the support comes in at 1.2400.

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 moved lower.

Trading recommendations

We preserve our bearish outlook. A break below 1.2400 shall open the way for further losses towards 1.2350 and 1.2300.

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Yen

Current situation

The US dollar maintained its bearish tone on Wednesday. The Tuesday's recovery stalled a few pips below 114.00. Bears tightened their grip and sent the rate towards 113.00 in the Asian session. European sellers continued pushing the major lower and reached the targeted level in the mid-European session. According to 4 hours chart the spot rebounded from 50-EMA and broke the 100-EMA downwards. The moving averages pointed lower in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

We expect to see renewed bearish pressure. As the most probable scenario, we consider further moving downwards towards the mark at 112.60, en route to 112.00.

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NZD/USD

Current situation

The trend is objectively bearish. The NZD extended its Tuesday's recovery reversing more-than half of its previous losses. The price stalled above 0.7150 trading in a tight range on Wednesday. The spot was almost unchanged flirting with the fresh highs the whole day. The 50-EMA crossed the 200-EMA downwards in the 4 hours chart. The 50 and 100 EMAs pointed lower while the 200-EMA maintained its bullish slope. The price continued developing below the moving averages in the mentioned timeframe. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD decreased which confirms the strength of sellers. RSI remained within neutral territory.

Trading recommendations

The price eyes a support at 0.7150 loss of which would trigger further weakness towards 0.7100.

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XAU/USD

General overview

Gold prices remained under pressure ahead of Fed minutes awaiting for fresh guidelines regarding the next rate hike timing.

Current situation

The precious metal traded mostly sideways on Wednesday. Tuesday’s recovery helped gold to reverse all its early losses. Buyers returned the spot to the 1240 hurdle where the pair XAU/USD stood still the first part of the day. According to 4 hours chart the price rebounded from 100-EMA and crossed 50-EMA upwards. The metal was above the moving averages which were all pointing higher in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD indicator was at the centerline. If the histogram entered 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 was neutral.

Trading recommendations

Gold remained well offered. A firm break below 1230 handle would open 1220 dollars per ounce.

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Brent

General Overview

Despite the recent drop oil prices remained around 7-week high on hopes that OPEC will achieve full compliance to the production cut agreement. Yesterday the price weakened ahead of the US crude stockpiles report. Traders were afraid that the report would show another build in the inventories. Besides, a fresh demand around the US dollar kept on weighing on the benchmark.

Current situation

Brent turned negative on Tuesday and extended its weakness on Wednesday. The Asian recovery lost its legs around 57.00 where the benchmark found fresh offers. The price sharply dropped and broke the 56.50 handle in the late Asian trades. Sellers drove the price to 56.10 afterwards where black gold found a decent support. 50-EMA crossed the 100-EMA upwards in the 4 hours chart. The 50 and 100 EMAs kept heading higher while 200-EMA turned lower. The price continued developing above the moving averages. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

After a daily close below 56.50 dollars per barrel we could see the pair extending down to the 55.50 region.

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DAX

General overview

European stocks traded mixed on Wednesday on the back of earnings and recent economic releases. DAX posted upbeat results when touched all-time high at 12000. Financial stocks were mixed while mining ones moved lower.

Current situation

DAX posted fresh all-times highs on Tuesday and consolidated its gains on Wednesday. The price pierced 12000 but failed to retake the level. The benchmark remained around the hurdle flirting with fresh highs in the European session. According to 4 hours chart the benchmark was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.

The histogram grew which is a buy signal. The RSI indicator remained within overbought readings.

Trading recommendations

A pullback is expected in the short term. Below 12000, the index is likely to target at the 11900 support.

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NASDAQ

General overview


US stocks moved lower at per-market ahead of the Fed’s minutes publication.

Current situation

The index gave up its fresh highs and pulled back on profit-taking. NASDAQ returned to 5340 in the early trades on Wednesday and stayed around the level until the American stocks open. According to 4 hours chart the 50, 100 and 200 EMAs maintained their bullishness. The price continued developing well above the moving averages in the same chart. The resistance is at 5380, the support comes in at 5340.

MACD traded to the downside. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

A sharp breakout below 5340 could spark a further decline towards 5320.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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

Postby ValdisFFS » Thu Feb 23, 2017 1:44 pm

"Fort Financial Services"- fundamental and technical analysis.

24.02.2017

Euro

General overview

Germany GDP came out as expected without changes in the 4th quarter. The GDP rose at good pace last year despite Brexit. All eyes are on the presidential election in France.

Current situation

The EUR/USD pair traded with mild bearish bias on Thursday. The euro reached 1.0500 but lost strength after touching the level and turned to the upside. Buyers reversed all its recent losses and returned the spot to 1.0550 where the major stayed in a directionless trading during the European hours. The spot broke the 50-EMA and stayed within its region in the 1 hour chart. All the moving averages continued moving downwards. The resistance is at 1.0550, the support comes in at 1.0500.

MACD grew which indicates the sellers’ positions weakening. RSI was neutral.

Trading recommendations

The EUR/USD pair remained in a descending channel. We do not see a potential to post more gains. The bearish momentum is likely to be regained as soon as the single European currency gets below 1.0550. Buyers need to retake 1.0600 to ease the downward pressure.

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Pound

General overview

The pair traded in the narrow range due to the empty British calendar. Meanwhile, the US Fed meeting minutes did not inspire investors to buy the dollar.

Current situation

The pound remained rangebound on Thursday. Sellers found a solid barrier at 1.2400 and had to retreat. The price bounced off the handle but failed to build a strong up-move and stalled below the 1.2500 psychological level. The cable touched the 50-EMA in the 4 hours chart. The moving appeared to be a strong obstacle to break at once. The pair stayed in-between the 50 and 200 EMAs during the day trying to move higher. The 50 and 100 EMAs pointed lower while the 200-EMA extended its bullishness. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

A sharp breakout below 1.2400 could spark a further decline towards 1.2370 in the coming sessions. Alternatively, a break and consolidation above 1.2500 will increase buyers’ chances to reach 1.2550.

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Yen

General overview

The dollar weakened a bit despite the FOMC meeting minutes which mentioned the probable Fed monetary policy tightening. The Japanese calendar remains thin and uneventful the pair will mostly depend on the US data

Current situation

The USD/JPY pair stayed rangebound on Thursday being limited in a tight range between 113.00 and 113.50. The price stayed flat out during the Asian and European hours and became more agile ahead of the NY opening. Sellers led the price lower and broke 113.00. The major stayed around the 100-EMA which acted as a support for the US dollar. The 4 hours chart showed that the pair was sandwiched between the 100 and 50 EMAs during the day. The 50, 100 and 200 EMAs maintained their mild bearish slope in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

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 was flat.

Trading recommendations

It is hard to predict the pair's further move. A clear break below 113.00 would indicate that the bearish phase has resumed. Conversely, to recover some strength the major needs to rise back and hold above 114.00.

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USD/CAD

General overview

The US dollar weakened against the Canadian dollar. All eyes are on Canadian Consumer Price Index which is expected above expectations.

Current situation

The US dollar failed to sustain its recovery on Wednesday. The upward move lacked momentum around 1.3190 where the spot found fresh offers. The pair continued being offered on Thursday. Sellers pushed the price from the 1.3190 hurdle to 1.3120 and reached the last post-European open. The USD/CAD pair touched the 200-EMA which acted as a support for the major in the 4 hours chart. The US dollar struggled hard to retake the moving in the European session. The 200-EMA moved lower while the 50 and 100 EMAs were neutral in the mentioned timeframe. The resistance is highlighted at 1.3190, the support comes in at 1.3120.

MACD decreased which confirmed the growing strength of sellers. RSI moved to downside.

Trading recommendations

The technical picture favors a downward extension unless the level 1.3120 holds. A move below the handle will open the door for a 1.3090 region retest. A failure to break the mark may send the pair to 1.3190.

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XAU/USD

Current situation

Gold extended its sideways consolidation on Thursday. The recent upmove lost its upward momentum around 1240 where the precious metal traded the first part of the day. The precious metal turned bullish in the North American session. Buyers broke above 1240 and led the XAU/USD pair to 1245. According to 4 hours chart the spot continued to stay above its moving averages which extended their bullish slope. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

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

Trading recommendations

We expect gold futures to trade sideways tending to grow in the coming sessions.

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Brent

General Overview

Oil prices slightly grew as investors became more optimistic after the OPEC's production cuts according to the meeting in Doka. The prices grew despite the U.S. Crude Oil Inventories withdrawal.

Current situation

Brent oil prices extended their recovery in the Asian session on Thursday. Buyers led the price higher and broke 56.50 dollars per barrel in the early European morning. European buyers failed to maintain an upward momentum and stepped back. The price returned to 56.50 and stayed there until the NY open. After breaking the 50 and 100 EMAs the price remained above the moving averages in the 4 hours chart. All the moving averages were flat. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD slightly grew while RSI moved within neutral readings.

Trading recommendations

Brent needs to fixate above 56.50 dollars per barrel to extend its bullishness. The 57.50 hurdle is the next buyers' target. A failure to hold above 56.50 risks a slide to the 56.00 - 55.50 region.

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DAX

General overview

European stocks traded mixed on Thursday as investors focused on earnings reports. Besides, traders kept weighing up the latest Fed's minutes. Financial stocks faced some buying pressure while mining stocks were mixed.

Current situation

DAX traded in a tight range on Thursday. After reaching 12000 the upward momentum lost its strength. Traders seem to be consolidating their gains now. According to 4 hours chart the price was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator was near overvalued territory, favoring a move lower.

Trading recommendations

The index may develop a minor technical correction if it fails to retake 12000. The benchmark may ease to 11900 on profit-taking.

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S&P500

General overview

The US investors prefer to stay out of market awaiting for further details on Trump's fiscal policies.

Current situation

S&P500 traded around its recent highs on Thursday. The price stayed in a tight range of 50 pips or less struggling with 2360. The benchmark was above its moving averages which were all pointing higher in the 4 hours chart. The resistance is at 2360, the support comes in at 2340.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator stayed near overbought levels.

Trading recommendations

The index will remain in a directionless mode until S&P500 finds fresh drivers. Meanwhile, we expect a recovery to 2350.

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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: 613
Joined: Sat Jul 05, 2014 9:38 am

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