"Fort Financial Services"- fundamental and technical analysi

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

31.10.2016

Euro

General overview

Investors were cautious ahead of the US GDP and did not hurry to trade on Friday. The weak Eurozone data weighed on the euro. Despite the positive GDP the EUR/USD remained under pressure. The dollar fell by the end of Friday trades when FBI discovered new emails relating to Hillary Clinton case.

Current situation

The price modestly recovered during the past Asian session and traded slightly above 1.0900 during the European hours on Friday. The pair reached the mark 1.0926 and immediately rolled back Post-European open. The pair rallied upwards in the middle of the European session. The EUR/USD broke 1.0950 and advanced towards 1.1000. The moving averages extended their decline in the 4 hours chart. The price broke the 50-EMA and tested the 100-EMA in the same chart. The resistance comes in at 1.1000, the support lies at 1.0950.

MACD moved into the positive area. MACD grew which indicates the sellers’ positions weakening. The RSI moved upwards.

Trading recommendations

The pair now seems to be heading towards its immediate resistance near 1.1000. If the upwards pressure persists buyers will break the level. After broking the level bulls may lead the price towards 1.1050. We do not exclude a roll back towards 1.0950.



Pound

General overview

There were no major events on the UK schedule on Friday. The stronger-than-expected GDP in the UK supported the pound. Meanwhile the dollar slightly weakened on the back of the mixed U.S. statistics.

Current situation

The pound remained under pressure in its intraweek trading range. The price stayed below the level 1.2200 on Friday. Sellers pushed the price lower and tested the level 1.2100 later the day. After testing the level the GBP/USD pair bounced from it and returned to the 1.2200 region. The moving averages keep heading lower in the 4 hours chart. The current resistance is seen at 1.2200, the support is at 1.2100.

MACD is in the negative area. MACD decreased which confirms the strength of the sellers’. RSI is within the oversold area.

Trading recommendations

Despite a recovery the price returned some of its losses by the end of the week. Should the GBP/USD break the level 1.2200 the pair may extend its gains towards 1.2250. Sellers might try to push the prices lower. Their primary goal is the level 1.2100.



Yen

General overview

The yen traded steady on Friday following Japanese consumer prices data which came in largely as expected.

Current situation

USD/JPY edged higher on Friday. Buyers tested the level 105.50, but failed to break it. The price bounced downwards after testing the mark. Sellers broke 105.00 and tested the level 104.50. The moving averages are still pointing higher in the 4-hours chart. The resistance can be found at 105.00, the support comes in at 104.50.

MACD is in the positive area. MACD remained at the same level which confirms the strength of buyers. RSI is in the overbought area.

Trading recommendations

Sellers seem to have returned in the game. If the price maintains its bearish tone sellers will break 104.50 and will break through 104.00.



AUD/USD

General overview

The Aussie traded lower on Friday as home sales in Australia did not meet traders’ expectations and moved from the previous month's pace.

Current situation

The price maintained its bearish tone in the European session on Friday. The AUD/USD tested the level 0.7570 in the middle of the European trades. After testing the level the pair continued heading lower and refreshed the weekly low at 0.7562. However, the downward pressure eased right after the test, the AUD rolled back and erased a minor part of its losses. The price broke the 200- EMA on its way downwards, but soon returned back. The 100 and 200 EMAs are neutral, the 50-EMA is turning downwards in the 4 hours chart. The resistance is at 0.7600, the support can be found at 0.7570.

MACD is in the negative area. MACD decrease which indicates the buyers’ positions weakening. The RSI is within oversold area.

Trading recommendations

We recommend going short with the first target – 0.7570. When the price consolidates below the first target it may go to the level 0.7540.



XAUUSD

General overview

Gold prices strengthened as disappointing Initial Jobless Claims and Durable Goods releases rose uncertainty over the timing of future rate hike

Current situation

The bearish scenario prevailed the first part of the day. Gold prices met a barrier in the 1270 region which limited its further gains. Gold futures bounced from the level and moved lower, staying around 1265 ahead of the US opening. The yellow metal bounced from 1265 in the New York session, the price jumped to 1270 dollars per ounce. After breaking the level gold prices tested 1280. The yellow metal broke the 50 and 100 EMAs in the 4 hours chart. The 50 and 100 EMAs are neutral, the 200-EMA kept heading lower. The resistance is at 1280, the support comes in at 1270 dollars per ounce.

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.

Trading recommendations

The pair now seems to be heading towards its immediate resistance near 1280. After breaking 1280 the level 1290 will come back to the radar.



Brent

General overview

Brent futures traded lower on Friday due to uncertainty over OPEC output agreement.

Current situation

Brent oil futures bearish trend remained intact. Oil prices remained in a near-term descending channel and stayed around 50.50 in the European session on Friday. Brent futures tried to recover after a sharp drop on Thursday. However, the recovery was weak and was caused by profit taking. Oil prices moved lower ahead of the North American session and tested the level 49.50 by the end of the trades. The 100 and 50 EMAs are moving downward, the 200-EMA is pointing higher. The resistance is at 50.50, the support comes in at 49.50 dollars per barrel.

MACD is in the negative area. MACD declined which confirms the sellers’ positions strengthening. The RSI is within oversold area.

Trading recommendations

We suppose the Brent oil prices will go to 49.50 first. Having overcome the first target the price might advance towards 48.50.



DAX

General overview

European stocks closed lower on Friday, reaching one week low. According to corporate earnings reports Novo Nordisk Gemalto shares lost about 10%.

Current situation

DAX gapped lower at the open and continued moving lower after the gap on Friday. The index extended its losses towards 10600 during the day. The 50-EMA crossed the 100-EMA downwards in the 4 hours chart. The 100 and 200 EMAs are neutral, while the 50-EMA is heading south. The resistance is seen at 10700, the support is at 10600.

MACD is in the negative area. MACD declined which confirms the sellers’ positions strengthening. The RSI is within oversold area.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 10600.



NASDAQ

General overview

Despite the positive GDP Q3 the U.S shares closed the week bearish. FBI reopened Hillary Clinton probe after finding new emails related to her closed investigation.

Current situation

Sellers continued to dominate in the market. NASDAQ index broke the level 4800 on its way downwards. After breaking the level the index continued to lose its value and refreshed the weekly low at 4788. After setting a new low the price rolled back in the 4835 region. However, buyers failed to stay there and the quotes returned back to 4800. The moving averages are neutral in the 4 hours. The resistance is seen at 4835, the support is at 4800.

MACD is in the negative area. The histogram remained in the same level which confirms the strength of the sellers’. RSI oscillator is within oversold area.

Trading recommendations

The level 4800 seems the next probable bearish target. The level 4770 is the second sellers’ target.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

01.11.2016

Euro

General overview

The dollar recovered on Monday after a sharp drop last week caused by renewed FBI interest to Hillary Clinton.

Current situation

The euro gave up its recent gains and moved lower on Monday. Sellers pushed the price from 1.0992 towards 1.0950 where the pair met a barrier and slowed down its decline for a while. The EUR/USD broke the level ahead of NY opening and moved towards 1.0900. The moving averages extended their decline in the 4 hours chart. The price bounced from the 100-EMA and moved towards the 50-EMA. The resistance comes in at 1.1000, the support lies at 1.0950.

MACD is in the positive area. MACD decrease which indicates the buyers’ positions weakening. The RSI moved downwards.

Trading recommendations

The bearish trend remained intact. A downtrend will start as soon, as the pair drops below the support level 1.0900.



Pound

General overview

According to the latest news Mark Carney will serve a full term through 2021. The news slightly supported the sterling which decline afterwards. The published statistics did not support the pound which continued to move lower.

Current situation

The GBP/USD remained in a flat on Monday. The price moved lower from last week high and returned into the range. The pound erased the Friday’s recovery gains amid renewed dollar buying interest. The moving averages keep heading lower in the 1 hour chart. The price broke the 50 and 100 EMAs and advanced lower in the same chart. The current resistance is seen at 1.2200, the support is at 1.2100.

MACD is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI remained close to the oversold area.

Trading recommendations

If the downward pressure persists we cannot rule out the chance that the pair would try to retake the level at 1.2100. If succeeded, sellers will push the GBP/USD pair towards 1.2050.



Yen

General overview

The BoJ started its two-day meeting on Monday. Markets expect the regulator to maintain its policy unchanged. The dollar remained around multi-week highs amid uncertainty around the US election.

Current situation

The USD/JPY remained in bulls' hands on Monday. The price trended higher, reversing some of its last week losses. Traders pushed the price upwards towards 105.00 which appeared a strong barrier on its way upwards as a result the level slowed down the USD/JPY recovery. The moving averages maintained their bullish slope. The price broke the 50-EMA and tested the 100-EMA in the 1 hour chart. The pair failed to move lower and bounced upwards from the 100-EMA in the same chart. The resistance can be found at 105.50, the support comes in at 105.00.

The MACD histogram grew which is a buy signal. RSI remained within the overbought levels.

Trading recommendations

If the current buy mode persists the pair might extend its recovery towards 105.50. A daily close below 105.00 will ease the upward momentum. The pair may weaken towards 104.50.



NZD/USD

General overview

The kiwi is neutral ahead survey of inflation expectations which will be published this Wednesday.

Current situation

The NZD/USD remained near last week lows on Monday. The pair spent the day above the 0.7120 level. The moving averages are neutral in the 1 hour chart. The currency pair stayed above the 200-EMA which provided a solid support for the price. The resistance is at 0.7200, the support can be found at 0.7120.

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

Trading recommendations

If the bearish scenario prevails we will be selling the pair if the price drops below 0.7050.



XAUUSD

General overview

Gold prices moved lower on Monday staying around 4-week high ahead of the Fed meeting results and amid rising uncertainty over U.S. election. Moreover, a growing dollar weighed on the yellow metal quotes.

Current situation

The XAU/USD pair opened on a weaker note on Monday. The yellow metal failed to extend its gains after Friday’s rally. Last week upward momentum lost is strength and the XAU/USD pair turned to the downside. The price approached the level 1270 dollars per ounce in the middle of the European trades and stayed there ahead of the NY session. Buyers failed to reclaim the 200-EMA which rejected the pair downwards. The price moved towards the 100-EMA and stopped a few pips above the moving. The resistance is at 1280, the support comes in at 1270 dollars per ounce.

MACD remained at the same level which confirms the strength of sellers. RSI remained within oversold area.

Trading recommendations

If the downward pressure persists the price will move below 1270 dollars per ounce. A successful break below the level will open the way towards 1260. If the 1270 level holds gold prices will return to 1280 dollars per ounce.



Brent

General overview

Oil prices traded lower on Monday as OPEC members failed to agree on measures to freeze its output.

Current situation

Brent oil futures held on their recent lows during the Asian session on Monday. Prices gapped lower at the open and filled the gap Post-European opening. Brent futures spent the first part of the day around the level 49.50 dollars per barrel and faced further downside pressure ahead of the NY opening. The price made a good break below 49.50 and advanced towards 48.50 where the downward impetus faded. The 50 and 100 EMAs are pointing lower in the 4 hours chart. The 200-EMA maintained its bullish slope in the same chart. The price broke the 200-EMA and continued moving lower. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

MACD decreased which confirms the strength of the sellers’. The RSI is in the oversold area.

Trading recommendations

Brent futures met a barrier around 48.50 dollars per barrel. We await a break below the level to trigger another leg lower. Sellers may drag the price towards 48.00 and lower to 47.50.



DAX

General overview

European stocks traded lower on Monday as Oil & Gas sector decline weighed on the stocks.

Current situation

The index gapped higher at the open on Monday and filled the gap Post-European opening. Prices spent the day in the middle of the tight range. The 100 and 200 EMAs are neutral in the 1 hour chart, the 50-EMA is pointing lower. The price tested the 50-EMA, but failed to move higher. The index got under selling pressure on any up-move towards 10700. The resistance is seen at 10700, the support is at 10600.

MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. RSI is neutral.

Trading recommendations

If DAX remains in red figures we will be selling the benchmark if the price drops below 10600.



S&P500

General overview

American Stocks remained neutral on Monday as traders were cautious ahead of the Fed monetary policy decision. Investors also kept an eye on developments in the U.S. presidential election and particularly to Hillary Clinton probe.

Current situation

The index traded mixed on Monday. Prices moved higher in the Asian session, as a result the benchmark was able to erase its previous losses. The market switched the tone to bearish when buyers failed to reclaim the level 2130. The S&P500 turned around and moved lower. The price stopped a few pips above 2120 where it spent the rest of the day. The moving averages (50, 100 and 200) are pointing lower in the 4 hours chart. The price bounced downwards in the 1 hour chart and moved lower. The resistance is seen at 2130, the support is at 2120.

MACD is in the negative area. The histogram remained in the same level which confirms the strength of the sellers’. RSI approached the oversold area.

Trading recommendations

We suppose the index will go to 2120 first. Having overcome the first target the price might advance towards 2110.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

02.11.2016

Euro

General overview

The U.S. dollar weakened across the board ahead of Fed, U.S. jobs data and election.

Current situation

The euro recovered its lost ground on Monday and maintained its bid tone on Tuesday. After a brief phase of consolidation seen during the Asian session the EUR/USD pair accelerated its growth and headed towards 1.1000. The EUR/USD pair broke the level post-European open. The 50-EMA is turning upwards, the 100 and 200 EMAs maintained their decline in the 4 hours chart. The price touched the 200-EMA which stopped its upward momentum in the mentioned timeframe. The resistance comes in at 1.1050, the support lies at 1.1000.

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

Trading recommendations

We maintain short-term bullish outlook for the pair. The euro might extend its gains towards 1.1050.



Pound

General overview

UK's Manufacturing PMI which came in below our estimates failed to support the pound. However, the British pound maintained its bid tone after Mark Carney's announcement to remain the BoE's governor until June 2019.

Current situation

The sterling strengthened on Monday and preserved its recent gains on Tuesday, staying around trading range’s upper limit. Buyers failed to reclaim the 1.2300 level, the price rolled back after touching the resistance. The pair spent the rest of the day above the 1.2200 level. The moving averages keep heading lower in the 4 hours chart. The price broke the 50-EMA and met a barrier around the 100-EMA which stopped its bid momentum. The current resistance is seen at 1.2300, the support is at 1.2200.

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 is within the overbought area.

Trading recommendations

If bulls preserve their control the GBP/USD pair will take out the level 1.2300. A stronger dollar will ease the upward momentum, sending the pound below 1.2200.



Yen

General overview

As expected the Bank of Japan left its monetary policy on hold. Besides, the regulator cut its inflation forecasts. The published news slightly impacted the pair.

Current situation

The upward momentum seems to have run out of steam. The USD/JPY gave up its recent highs, trading around the 105.00 major level during the European hours. Sellers seem to be guarding 105.00 as the price bounces from the level on every attempt to the upside. The moving averages are turning lower in the 1-hour chart. The price broke all moving averages and moved lower in the same chart. The resistance can be found at 104.50, the support comes in at 104.00.

MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is within the oversold area.

Trading recommendations

A break below 104.50 suggests further weakness of the USD/JPY pair. Sellers may lead the price to the 104.50 handle where USD/JPY may bounce off.



AUD/USD

General overview

The Aussie strengthened when the RBA kept its rate unchanged at 1.5% on Tuesday. The regulator also predicted the Australian economy to grow near potential over the next year.

Current situation

The Aussie rallied against the U.S. dollar on Tuesday. The price jumped from 0.7600 to 0.7675. After testing the level 0.7675 the upward momentum faded and the price rolled back. The price broke 0.7625 and 0.7650 on its way upwards. The 50, 100 and 200 EMAs are turning upwards in the 1 hour chart. The 50-EMA crossed the 100 and 200 EMAs upwards in the same chart. The resistance is at 0.7675, the support can be found at 0.7650.

The MACD histogram grew which indicates the buyers’ strength. RSI is within the overbought area.

Trading recommendations

The pair is heavily overbought. We expect some profit taking from bulls after the recent rally. The price may roll back to 0.7650.



XAUUSD

General overview

Gold prices moved higher on Tuesday ahead of the Fed meeting and amid uncertainty over the U.S. presidential elections.

Current situation

Gold prices had a positive day on Tuesday. The pair started the day around 1275 dollars per ounce. Buyers pushed the prices to the 1280 level first which was not able to resist pressure of bulls and was immediately broken. The yellow metal extended its gains after the level break, advancing towards 1290 ahead of the NY opening. The 50 and 100 EMAs are turning upwards in the 4-hours chart, the 200-EMA is heading lower. The resistance is at 1290, the support comes in at 1280 dollars per ounce.

The MACD histogram grew which indicates the buyers’ strength. The RSI is in the overbought area.

Trading recommendations

We maintain a bullish outlook in the short term. The XAU/USD pair now seems to be heading towards its immediate resistance near 1290.



Brent

General overview

Brent oil futures reverted their recent losses, staying around one month low on Tuesday. Growing skepticism over the ability of OPEC to reach an agreement on an output freeze weighed on oil prices.

Current situation

Oil prices gapped higher at the open on Tuesday. The price jumped from 48.31 to 48.58 through the level 48.50 dollars per barrel. Brent prices were able to extend their gains after the gap. However, the upward impetus soon faded and the price returned to the broken level. The 50 and 100 EMAs extended their decline in the 4 hours chart. The 200-EMA maintained its bullish slope in the same timeframe. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

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

Trading recommendations

If the bullish scenario prevails the price might extend its recovery towards 49.50. A break of 48.50 may trigger the next leg of move lower towards 47.50.



DAX

General overview

European stocks edged lower when Shell and BP earnings reports headed different ways. Shell shares added 3,1%, while BP shares fell.

Current situation

DAX index moved lower on Tuesday. The price had a sharp drop below 10700 in the Asian session. Prices weakened towards 10600 during the European hours and broke the level in early US trades. The index extended its losses after the break advancing towards 10500. The 50 and 100 EMAs extended their growth in the 4 hours chart, the 200-EMA is neutral. The price broke the 50 and 100 EMAs and approached the 200-EMA at the beginning of the New York session. The resistance is seen at 10600, the support is at 10500.

MACD is in the negative area. The indicator decreased which confirms the strength of the sellers. RSI oscillator headed towards the oversold area.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 10500.



NASDAQ

General overview


Current situation

The index had a negative day on Tuesday. The price stayed in red figures, maintaining its bearish tone during the day. Sellers broke the level 4800 post-European open and approached 4770 in the NY session. Prices bounced off the 50-EMA in the 1 hour chart and headed away from the moving. The 50 and 100 EMAs accelerated their decline, crossing the moderately bearish 200-EMA in the mentioned timeframe. The resistance is seen at 4800, the support is at 4770.

MACD decreased which confirms the strength of sellers. RSI moved towards the oversold area.

Trading recommendations

We suppose the index will go to 4770 first. Having overcome the first target the price might advance towards 4740.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

03.11.2016

Euro

General overview

The dollar fell to the three-week low amid growing uncertainty over the US presidential election. The mixed reports from Germany slowed down the further euro growth.

Current situation

The common currency extended its near-term bullish momentum yesterday. The EUR/USD found a strong resistance at the level of 1.1100 which slowed down its further strengthening. The pair traded at a fresh 3-week high, just below the 1.1100 level during the European hours. The price broke the 200-EMA and trended north in the 4 hours chart. The 50, 100 and 200 EMAs are turning upwards in the same timeframe. The resistance comes in at 1.1100, the support lies at 1.1050.

The MACD histogram grew which indicates the buyers’ strength. The RSI indicator continues consolidating within overbought levels.

Trading recommendations

If the positive momentum remains intact the euro next stop could well be at the 1.1100-1.1150 region.



Pound

General overview

The pound strengthened on the back of the positive Construction PMI in the UK on Wednesday.

Current situation

Fresh buying pressure around the British Pound boosted GBP/USD to fresh highs. Traders pushed the sterling higher on Wednesday. The pair was able to escalate to 1.2300 where the upward momentum faded for a while. The pound broke the level ahead of the NY opening. The moving averages keep heading lower in the 4 hours chart; however, the 50-EMA is becoming more neutral. The price bounced off the 50-EMA and headed towards 1.2300, testing the moving ahead of the NY opening. The current resistance is seen at 1.2400, the support is at 1.2300.

MACD has formed signal to rise. RSI is going upwards which confirms the strength of buyers.

Trading recommendations

We await a break above 1.2300 to trigger another leg higher. A daily close above 1.2300 would risk 1.2400.



Yen

General overview

The dollar remained under pressure on Wednesday as election uncertainty weighed on the markets.

Current situation

The pair failed to retake the 105.00 level. The price encountered a strong sellers’ resistance around the level which caused its sharp decline. The pair remained in red figures on Wednesday as the downside momentum prevailed. Sellers pushed the price lower from 104.00 towards 103.00. The USD/JPY pair broke 103.50 on its way to 103.00. The price broke the 100-EMA and tested the 200-EMA in the 4 hours chart. The moving averages are turning downwards. The resistance can be found at 103.50, the support comes in at 103.00.

MACD decreased which confirms the strength of sellers. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

If the downward pressure persists the 102.50 level will come back to the radar. We cannot rule out the chance that the USD/JPY pair would try to get to the resistance region 103.50-103.80.



NZD/USD

General overview

The kiwi strengthened due to positive New Zealand’s labor market report. Besides, the latest inflation expectation report supported the NZD as well.

Current situation

The NZD/USD pair maintained its strong bid tone on Wednesday. Buyers were able to push the price higher to 0.7300 through 0.7250. The price hovered above the moving averages in the 4 hours chart. The 50 and 100 EMAs are turning upwards, while the 200-EMA keeps heading lower. The resistance is at 0.7300, the support can be found at 0.7250.

MACD is within the positive area. RSI moved upwards and reached the overbought levels.

Trading recommendations

The NZD/USD pair needs to break 0.7300 to retain its bullishness for further gain to 0.7350. Alternatively, when we break the level 0.7250 the support 0.7200 comes back into play.



XAUUSD

General overview

The uncertainty around US presidential election retuned risk-aversion to the marker increasing demand for the safe-heaven assets like gold.

Current situation

Gold prices extended their gains on Wednesday, breaking out of the ascending channel pattern. The pair broke 1290 dollars per ounce and approached the level 1300 at the beginning of the North American session. The upward momentum had run out of steam by the moment the price approached the level. The price remained well above the moving averages in the 4 hours chart. The moving averages are turning north. The resistance is at 1290, the support comes in at 1280 dollars per ounce.

The MACD histogram grew which indicates the buyers’ strength. RSI is in the overbought area.

Trading recommendations

A break above 1300 dollars per ounce will strengthen buyers’ positions. In this potential scenario the XAU/USD may reach 1310.



Brent

General overview


Oil prices edged lower on Wednesday after surprising U.S. stocks growth which underlined the market's supply glut.

Current situation

After a short-lived recovery on Tuesday Brent oil prices turned lower, extending their losses on Wednesday. The price remained in a descending channel, trading close to its lower trendline line. Sellers broke the 48.50 and tested the 47.50 on Wednesday's trades. The price remained below the moving averages in the 4 hours chart. The 50 and 100 EMAs are moving lower, the 200-EMA is just turning downwards. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

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

Trading recommendations

We will place short orders only if we see a solid move below 47.50. However, we consider that scenario as an alternative as oil prices are heavily oversold. We expect a near-term correction caused by profit-taking.



DAX

General overview

European stocks moved lower on the growing concerns over the U.S. presidential elections. Negative A.P. Moller-Maersk earnings report weighed on the stocks as well.

Current situation

DAX index gapped higher at the open on Wednesday. However the price did not extend a bid tone and immediately turned lower after the gap. The index filled the gap in early Europe trades. Sellers moved prices lower towards 10400 and tested the level in the North American session. The DAX index stayed below the moving averages (50, 100 and 200) during the day. The moving averages are turning downwards. The resistance is seen at 10500, the support is at 10400.

The MACD indicator continues consolidating within oversold levels. The RSI indicator is near undervalued territory, favoring a new move lower.

Trading recommendations

A move below 10400 will open the way towards 10350.



S&P500

General overview

American stocks traded lower on Wednesday. The uncertainty over the outcome of the upcoming U.S. presidential election made traders seek safe-haven assets.

Current situation

The index remained under pressure, staying around 2100 during the day. The price briefly recovered during the European trades and turned lower in early American trades. The 50, 100 and 200 EMAs extended their bearish slope in the 4 hours chart. The price remained well below the moving averages. The resistance is seen at 2110, the support is at 2100.

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

Trading recommendations

If the index holds its bearish tone S&P500 will keep heading lower. A clear break below 2100 will send the price towards 2090.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

04.11.2016

Euro

General overview

The dollar was able to reverse some of its losses on Thursday. The dollar strengthened due to profit taking, the EUR/GBP sharp drop and decline of election concerns.

Current situation

The trend is objectively bullish as bulls have the ball now. The EUR/USD pair remained in an ascending channel on Thursday, hovering around 1.1100 in the European session. The pair became slightly bearish post-European open when the price retreated from the recent highs. Sellers pushed the euro below 1.1100 trying to regain control. The pair edged lower and approached the level 1.1050 at the beginning of the New York session. The moving averages are turning upwards in the 4 hours chart. The resistance comes in at 1.1100, the support lies at 1.1050.

MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is within the overbought area.

Trading recommendations

A clear break below the lower limit of an ascending channel 1.1050 will indicate that the upward movement is over, then the following downward movement could bring price to 1.1000 area. A further strengthening is possible if the price moved above 1.1125.



Pound

General overview

A better-than-expected UK’s Services PMI supported the pound on Thursday. Later the day sterling extended its rally when the BoE kept its rates on hold.

Current situation

The GBP/USD opened on a positive note and remained in bulls' hands during the day. The pound was in the middle of another bullish development during the European hours. Traders pushed the pound higher, the pair now seems to be heading towards its immediate resistance near 1.2500. After breaking the 100-EMA the price continued advancing north towards the 200-EMA and reached the moving ahead of the NY opening. The current resistance is seen at 1.2500, the support is at 1.2400.

MACD is in the positive area. The MACD histogram grew which indicates the buyers’ strength. RSI is within the overbought area.

Trading recommendations

If the bullish views remain intact the pair might extend its recovery towards 1.2500.



Yen

General overview

The yen was has been in demand this week as a safe-heaven currency. A weaker dollar supported the demand for the Japanese currency.

Current situation

The USD/JPY remained near an oversold critical line. The pair is still in a short-term descending channel. The price slightly recovered in the Asian session and extended its gains during the European hours on Thursday. The ongoing recovery could be attributed to some profit taking from sellers after the recent sharp decrease. Buyers pushed the price towards its immediate resistance 103.50, reversing minor part of its recent losses. The USD/JPY pair approached the 200-EMA ahead of NY opening. The 200-EMA is slowly turning downwards, while the 50 and 100 EMAs are already moving lower. The resistance can be found at 103.50, the support comes in at 103.00.

MACD is in the negative area. MACD decreased which indicates the sellers’ strength. RSI is within the oversold area.

Trading recommendations

We expect the dollar further recovery and its test of 103.50. On the other side, a return below 103.00 will open the door for a move lower towards the 102.50 level.



USD/CAD

General overview

The Canadian dollar was neutral against its American counterpart on Thursday. The dollar remained weak after the disappointing US labor data. Moreover, oil price undertone keeps weighing on CAD.

Current situation

The neutral phase that started last week is still intact. The USD/CAD is staying around its weekly lows around 1.3360. The price moved back and forth between 1.3400 and 1.3350. The moving averages are neutral in the 1 hour chart. The pair was going lower until it met a barrier around the 200-EMA. The moving rejected the price which returned to the 50 and 100 EMAs region. The resistance is at 1.3400, the support can be found at 1.3330.

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

Trading recommendations

We will preserve bullish outlook as long as the price holds above it 1.3330.



XAUUSD

General overview

Gold prices remained mostly positive after Fed’s decision to keep rates unchanged. The uncertainty on uncertainty over the U.S. election outcome keeps weighing on the dollar.

Current situation

Gold prices surged on Thursday morning and were able to break the resistance 1300 when the price suddenly turned around and sharply dropped. The yellow metal moved towards 1290 and broke the level in the middle of the European session. After breaking the level prices moved lower and tested the mark 1285. The XAU/USD pair approached the neutral 200-EMA in the 4 hours chart. The 50 is crossing the 100 EMA upwards, both lines are going north. The resistance is at 1300, the support comes in at 1290 dollars per ounce.

MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area and moved downwards.

Trading recommendations

If the bearish tone prevails the XAU/USD pair will move towards 1280 dollars per ounce.



Brent

General overview

Oil prices recovered on Thursday following the news of an attack on a Nigerian oil pipeline.

Current situation

Oil prices enjoyed mixed trades on Thursday. Brent oil gapped upwards at the open and the price continued to grow afterwards. Crude oil futures were able to reach the level 47.50 which stopped their further recovery post-European opening. The price slightly rolled back afterwards and spent the rest of the day a few pips below the level 47.50. The 200-EMA is still going upwards, while the 50 and 100 EMAs a moving downwards. The 50-EMA is crossing the 200-EMA downwards. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. The RSI is in the oversold area.

Trading recommendations

All eyes are right now at the resistance level 47.50 dollars per barrel. A break above the level will ease the downward pressure, opening the way towards 48.50. If the level holds oil prices will extend their losses towards 46.50 and 45.50 dollars per barrel.



DAX

General overview

European stocks remained neutral on Thursday after a two-day decline. The latest corporate earnings reports and growth of banking sector supported the Eurozone stocks.

Current situation

The index gapped higher at the open on Thursday. However, the index failed to extend its gains and edged lower immediately after the gap. DAX was under pressure during the night session and slightly recovered post-European open. The 10400 level is a current barrier which limits DAX further recovery. The price continues developing well below the moving averages. The moving averages extended their decline in the 4 hours chart. The resistance is seen at 10400, the support is at 10300.

The MACD decreased which confirms the strength of sellers. RSI oscillator is in oversold area.

Trading recommendations

Buyers are making attempts to break through 10400. If they succeed we will see the index rise towards 10500 resistance area.



NASDAQ

General overview

American stocks traded mixed on Thursday after disappointing Initial Jobless Claims report. Moreover, the stocks are under pressure amid a growing uncertainty surrounding the US presidential race outcome.

Current situation

The index preserved its undertone, holding onto recent lows. NASDAQ made an attempt to recover. Prices grew from 4700 towards 4740. However, the benchmark was able to reach the mark 4730 when the upward impulse faded, the price returned to the 4700 region. The moving averages maintained their bearish slope in the 1 hour chart. The price almost reached the 50-EMA when the index came across a selling pressure. The resistance is seen at 4740, the support is at 4700.

MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI oscillator is within oversold area.

Trading recommendations

The index now seems to be heading towards its immediate resistance near 4740.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

07.11.2016

Euro

General overview

According to ADP survey the U.S economy added less jobs than expected, Unemployment Rate coincided with the forecast while Average Hourly Earnings slightly grew. The market was little impressed by the latest U.S. data as a result the EUR/USD remained onto its recent highs. The dollar remained under pressure amid political uncertainty in the country.

Current situation

The EUR/USD traded around the 1.1100 resistance area during the European hours on Friday. The price moved lower and hit a low of 1.1079 in the middle of the European session. However, this move lacked momentum and prices returned to 1.1100. The pair extended its gains in the NY session. The 4 hours chart shows that the euro keeps hovering above the 200-EMA. The 200-EMA is neutral, while the 50 and 100 EMAs are heading higher with the 50-EMA surpassing the 100-EMA upwards. The resistance is seen at 1.1150, the support could be found at 1.1100.

MACD and RSI present modest bearish slopes. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area, heading south.

Trading recommendations

Technical indicators are now giving bearish signals. The price may retreat from its weekly highs and move towards its immediate support at 1.1050. After breaking above 1.1100 the EUR/USD may extend its gains towards 1.1150.



Pound

General overview

According to the High Court’s decision the UK Government needs to get Parliamentary approval before starting the UK’s exit from the EU. This news supported the pound, boosting its upward momentum.

Current situation

The pound continued reversing its losses, staying around 1-month high on Friday. GBP bulls met a barrier at 1.2500, struggling hard to break it during the day. Buyers managed to break the level in the North American session. The GBP/USD pair trended higher, approaching 1.2600. The price broke the bearish 200-EMA and headed away from the moving. The 50 and 100 EMAs are slowly turning upwards in the 4 hours chart. The current resistance is seen at 1.2600, the support is at 1.2500.

The MACD histogram grew which indicates the buyers’ strength. The RSI indicator is near overvalued territory, favoring a new move higher.

Trading recommendations

GBP/USD may have some difficulties to go any higher. Taking into account that the pair is overbought we do not exclude a correctional phase towards 1.2350. On the other hand, a solid close above 1.2500 will increase the current bid tone, sending prices towards 1.2600.



Yen

General overview

The USD/JPY pair was able to partly recover on Friday when a renewed risk-off wave hit the American and European stocks.

Current situation

The pair continued to stay in negative ground, trading around Thursday’s lows on Friday. USD/JPY presented a modest bearish tone as the price got under selling pressure on any up-move above 103.00. USD bulls encountered resistance around 103.20 where the 200-EMA lies. The 200-EMA rejected all bulls’ attempts to develop a recovery, holding prices under pressure. The 50 and 100 EMAs accelerated their decline, while the 200-EMA presented a modestly bearish slope. The resistance can be found at 103.50, the support comes in at 103.00.

Technical indicators are now giving weak bearish signals. MACD grew which indicates the sellers’ positions weakening. The RSI indicator continues consolidating within undervalued levels.

Trading recommendations

If the pair manages to consolidate above 103.00 the next target for this pair is the resistance level of 103.50. A daily close below the level might force the USD/JPY to resume its downward trajectory.



AUD/USD

General overview

The Aussie weakened right after the RBA decision to keep Inflation Expectations around 1.5-2.5%. The Australian Bureau of Statistics expects to keep inflation on low levels for a while, planning to rise it lately.

Current situation

The AUD/USD remained under pressure around 0.7675, bouncing from the level on any attempt to the upside. The level seems to be well defended by sellers who tried to push the price lower at the beginning of the New York session. The AUD sharply dropped and tested 0.7650, however, this move did not have a leg, the price returned to the 0.7675 region. The pair broke the 50-EMA and tested the 100-EMA in the 1 hours chart. The 100-EMA rejected the price above the 50-EMA. The moving averages maintained their bullish slope in the same chart. The resistance is at 0.7675, the support can be found at 0.7650.

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

Trading recommendations

If bears take over the market the price will decline to 0.7650. A move lower will open the way for 0.7625 testing.



XAUUSD

General overview

Gold prices remained around weekly highs as uncertainty over the US Presidential election results supported the yellow metal. Traders were cautious ahead of the U.S. data and refrained from creating fresh positions on Friday.

Current situation

Gold prices extended their side trading, staying around fresh weekly highs. The XAU/USD traded in a tight range between 1295 - 1305 dollars per ounce. The yellow metal remained above the moving averages in the 4 hours chart. The 200-EMA is turning upwards, while the 50 and 100 EMAs accelerated their growth. The 50-EMA crossed the 100-EMA upwards in the 4 hours chart. The resistance is at 1310, the support comes in at 1300 dollars per ounce.
MACD remained at the same level which confirms the strength of buyers. The RSI indicator continues consolidating within overbought levels.

Trading recommendations

In the scenario where buyers keep control the pair moves towards 1310. However, the yellow metal is oversold and we do not exclude a short-term correction to 1290 dollars per ounce.



Brent

General overview

Crude oil prices remained around recent lows as supply glut persisted on Friday.

Current situation

Crude oil futures remained under pressure. After a brief recovery during Asian session sellers pushed the price lower on Friday. Oil prices fell to 45.50 dollars per barrel where they spent the rest of the day. The price is below the moving averages in the 4 hours chart. The 200-EMA is neutral/bearish while the 50 and 100 EMAs are going downwards. The 50-EMA surpassed the 100-EMA in the same chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

MACD decreased which confirms the strength of sellers. The RSI oscillator is consolidating within negative area.

Trading recommendations

The level 45.50 limited Bren oil further losses. A cut through here will open the door for a move lower towards the 44.50 level



DAX

General overview

European stocks bearish trend remained intact on Friday. Growing uncertainty over the results of the US elections continued to weigh on market sentiment.

Current situation

DAX index was in a recovery mode on Friday. The index traded mixed with half the exchanges trading higher and the other half lower. The index escalated to 10282 where the upward momentum faded, the price dropped back to 10200. The price remained below the moving averages in the 4 hours chart. The moving averages are turning downwards. The resistance is seen at 10300, the support is at 10200.

The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator is consolidating within negative are.

Trading recommendations

We believe the DAX is going to recover. Buyers may lead the index towards 10350.



S&P500

General overview

Wall Street closed in red figures as Consumer Goods and Technology sectors dragged shares lower.

Current situation

The downwards trajectory remained intact on Friday. The index stayed around monthly lows at 2080. Buyers made an attempt to push the price higher and were able to reach the 2090 level. However the bullish spike faded soon and the benchmark returned to 2080. The price remained below the moving averages which extended their decline in the 4 hours chart. The resistance is seen at 2090, the support is at 2080.

The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator is consolidating within negative are.

Trading recommendations

S&P500 is having difficulties to go any lower. If the support 2080 holds prices will recover to 2090. Alternatively sellers will push the price to 2070.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

09.11.2016

Euro

General overview

The EUR/USD strengthened ahead of the US elections. The pair ignored weak Industrial Production and Trade Balance in Germany. Markets froze, awaiting for US election results.

Current situation

The weak daily closing on yesterday’s trades diminished the possibility for further euro strength. The EUR/USD remained under pressure, trading around weekly lows on Tuesday. Traders tried to develop an upward movement post-European open after a brief consolidation in the Asian session. Their attempt to reclaim the 1.1050 level failed, the price just pierced the level and returned below it afterwards. According to 4 hours chart the 200-EMA which stands around the 1.1050 region acted as a resistance, holding euro attempts to grow. The moving averages (50, 100 and 200) are neutral in the same chart. The resistance is seen at 1.1050, the support could be found at 1.1000.

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 is neutral.

Trading recommendations

We believe that the EUR/USD further strengthening is unlikely in the near term. If the pair fixates below 1.1050 sellers may drive the price lower towards 1.1000. However, a daily close above the current resistance will open the way to 1.1100.



Pound

General overview

The pound showed mixed trades on Tuesday, growing on the back of better-then-expected Manufacturing Production report the first part of the day and weakened amid a stronger dollar later the day.

Current situation

Technically, the sterling remained under pressure on Tuesday, trading in a narrow range. After an Asian flat the GBP/USD tried to rally. The price jumped from 1.2400 to 1.2436 where a bullish spike faded and the pound slightly rolled back. The pair got under selling pressure ahead of the NY open and moved below 1.2400. The 4 hours chart showed that the price struggled with a neutral 200-EMA which limits its further gains. A failure here sent the market downside. The 50-EMA is crossing the 100-EMA in the same chart, both moving lines are neutral. The current resistance is seen at 1.2400, the support is at 1.2300.

MACD decreased which indicates the buyers’ positions weakening. RSI is consolidating within positive territory.

Trading recommendations

We preserve a negative outlook for the GBP/USD pair. A close below 1.2400 may trigger losses towards 1.2300.



Yen

General overview

According to Taro Aso (Finance Minister) the BoJ will have to respond to any markets moves if the US elections results cause an unexpected yen strengthening.

Current situation

The USD/JPY traded in its intraweek trading range the first part of Tuesday. The market seemed fairly balanced amid lack of market movers. Buyers consolidated their gains, holding the price in a tight range 104.30 - 104.50. The bulls jumped back on the renewed bids around 104.50 ahead of the New York session. After breaking the level prices moved upwards, approaching 105.00. The price moved away from the 50, 100 and 200 EMAs in the 4 hours chart. The resistance can be found at 105.00, the support comes in at 104.50.

MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move higher.

Trading recommendations

If the upward pressure persists a move towards 105.00 is on the cards. After reaching the first target bulls will lead the pair to October highs at 105.50.



USD/CAD

General overview

The CAD mowed lower following oil prices recovery on the one side and the US dollar strengthening on the other.

Current situation

The neutral phase that started last week is still intact. The price remained in a narrow range between 1.3360 - 1.3400 on Tuesday. The pair declined to the lowest range end struggling with the 50-EMA to break lower on yesterday's trades. The pair tested the 50-EMA which provided a solid support for the price in the 4 hours chart. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance is at 1.3400, the support can be found at 1.3300.

The MACD histogram decreased which indicates the sellers’ growing strength. RSI is going south which confirms the current downward movement.

Trading recommendations

We expect the pair to remain in red figures. Should the USD/CAD pair break below the current support it may extend its weakness towards 1.3250.



XAUUSD

General overview

Gold prices got under pressure on Tuesday on expectations of US election results.

Current situation

The market sentiment remained negative on Tuesday. Sellers met a solid barrier around 1280 and were unable to drive the price lower. After testing 1280 the price bounced off the level, hovering above it during the day. Gold prices stayed around the 50 and 200 EMAs in the 4 hours chart. Both lines present a strong resistance, holding its further gains. The moving averages (50, 100 and 200) are neutral in the same chart. The resistance is at 1290, the support comes in at 1280 dollars per ounce.

MACD decreased which confirms the strength of sellers. The RSI indicator was holding near oversold levels during the day.

Trading recommendations

If a downward pressure persists the XAU/USD pair may break the current support downwards. A bearish continuation through 1280 should lead to a continued slide, with 1270 dollars per ounce as the first probable target.



Brent

General overview

Oil prices got under pressure on Tuesday amid the U.S. election and weak Chinese imports data.

Current situation

Brent oil prices recovered in the Asian session on Tuesday. Prices were able to escalate to 46.50 where the upward momentum faded. After testing the level oil prices rolled back. Bears took control and moved the price lower during the North American hours. Oil prices reached 48.50 post-America open. According to the 1 hour chart the price broke the 50-EMA and tested the 100 EMA in the European session. Brent futures failed to take out the line and bounced downwards, returning to the 50-EMA region. The moving averages maintained bearish tone in the same chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

The MACD histogram decreased which indicates the sellers’ strength. RSI moved downwards.

Trading recommendations

Inability to reclaim 46.50 suggests oil prices further weakness. Sellers will move prices lower to 45.50 and 44.50 dollars per barrel.



DAX

General overview

European stocks traded mix as investors were cautious awaiting for US President race results. Besides, a weaker Chinese imports data weighed on the stocks sentiment.

Current situation

DAX remained near weekly highs on Tuesday. Prices tried to extend their upward trajectory but failed to maintain their bid tone. After reaching 10483 the benchmark turned around and sharply dropped to 10400, bouncing upwards tight after that. The 100-EMA limited the index recovery in the 1 hour chart. The line rejected DAX downwards. The 100 and 200 EMAs direction is downwards, while the 50-EMA is neutral. The resistance is seen at 10500, the support is at 10400.

If MACD remains within the negative territory, sellers’ positions will remain strong. RIS was neutral on yesterday’s trades.

Trading recommendations

If bulls retain control the index may grow to 10500. A clear break below 10400 will indicate DAX further weakness towards 10350 and 10300.



NASDAQ

General overview

Wall Street remained cautious on Tuesday as investors waited for the U.S. presidential elections outcome.

Current situation

The index traded neutral yesterday. Investors held the price around its recent gains. The benchmark remained in a tight range, moving back and forth during the course of the trades. NASDAQ stayed around the bearish 50-EMA, struggling with the line to move higher. All moving averages maintained their bearish slope in the 4 hours chart. The resistance is seen at 4770, the support is at 4740.

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

Trading recommendations

If the 4770 level breaks, the price may fall further that should send this market looking for the 4740 and 4715 levels. A close above the level will trigger gains towards 4800.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

10.11.2016

Euro

General overview

The empty EU calendar was not able to provide any market moving news. The pair was affected by external factors. The dollar fell on the back of Trump’s victory.

Current situation

The euro/dollar strengthened overnight, reaching its highest level since September 8th. The pair jumped to 1.1300, breaking a bunch of levels on its way upwards. After testing the level prices gave up their fresh highs and pulled back, falling to opening price. The EUR/USD pair was holding around 1.1050 post-European open, consolidating its gains. The price broke the 1.1050 level and extended its losses towards 1.0950 in the North American session. The moving averages remained neutral in the 4 hours chart. The resistance is seen at 1.1100, the support could be found at 1.1050.

The MACD histogram decreased which is a sell signal. RSI stayed in a neutral area.

Trading recommendations

We expect the dollar to remain under pressure and lower levels will probably attract buying interest. The main buyers’ goal is the level 1.1100. Once we break above the 1.1100 level, we think that the 1.1150 level will be next. Anyway the pair is heavily oversold and needs to return its status quo which means a recovery. The EUR/USD may return to 1.1050 in the nearest-term.



Pound

General overview

The Donald Trump's victory knocked down the US dollar, sending it to the monthly lows.

Current situation

The pound traded mixed on Wednesday. Prices rallied in the Asian session, reaching the monthly highs at 1.2550. However, after snapping the level the pair reversed and sharply fell to opening prices where it stayed awaiting for fresh drivers. The 200-EMA limited the pound strengthening so far. The GBP/USD just tested the moving which rejected it downwards. Prices returned below the 200-EMA and stayed between the mentioned moving and neutral 50 and 100 EMAs in the 4 hours chart. The current resistance is seen at 1.2500, the support is at 1.2400.

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

Trading recommendations

We believe that the US dollar will remain under pressure on the back of a Trump victory. Buyers may try to recover their positions, climbing to the 1.2500 level first.



Yen

General overview

The dollar weakened across the board when Donald Trump was elected as the 45th US President.

Current situation

The USD/JPY pair sharply fell overnight, reaching September lows. However, the sell-off lost its legs around 101.16 where the pair turned around and rallied to the 103.50 region where the upward impetus ran out of steam, the price got under selling pressure again. However, the pair extended its gains during the North American hours. Prices moved higher, broke the level 104.00 and headed to 104.50. The pair traded around the 200-EMA ahead of NY in the 4 hours chart opening. The 200-EMA provided a solid resistance, limiting the dollar further growth. The moving averages are turning downwards, following the price. The resistance can be found at 103.50, the support comes in at 103.00.

The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

If the downward tone remains intact the dollar will keep losing ground. Sellers will lead the price downwards towards the level 102.50. A technical correction towards 104.00 is expected the near-term. A daily close below the mentioned level will open the way towards 103.50.



AUD/USD

General overview

A weak Consumer Confidence in Australia together with mixed data from China were not able to affect the AUD/USD pair which was mostly influenced by the dollar weakening on the back of Donald Trump's victory.

Current situation

The AUD/USD showed a strong sell-off in the Asian session on Wednesday. After refreshing monthly highs at 0.7776 the pair fell towards its fresh lows at 0.7570. The pair met a barrier around 0.7570, bouncing upwards immediately after the level test. The AUD/USD pair maintained its bid tone ahead of NY opening, struggling with 0.7675 to move higher. The moving averages are neutral in the 4 hours chart. The resistance is at 0.7675, the support can be found at 0.7650.

MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the oversold area.

Trading recommendations

We believe the Aussie will remain in the red zone in the short-term. After breaking the current support sellers will drive the price towards 0.7625.



XAUUSD

General overview

Gold prices got under buying pressure amid as Donald Trump shocked markets by winning the U.S. presidential race. However, Donald Trump’s winning speech afterwards comforted markets and returned risk appetite back.

Current situation

Gold prices were bale to strengthen last night, reaching its highest levels since September 26th. Buyers were able to push the price to 1335, but failed to hold onto gains. The pair sharply fell and stopped at 1300, coming across with buyers’ resistance. The yellow metal remained around the mentioned level, consolidating its gains ahead of the NY opening. The moving averages were neutral in the 4 hours chart. The resistance is at 1300, the support comes in at 1290 dollars per ounce.

The MACD histogram grew which indicates the buyers’ strength. RSI bounced from the overbought area.

Trading recommendations

If bulls retain control the XAU/USD pair will grow to 1310-1315. A daily close below 1300 will put on hold bulls’ plans. In this scenario sellers will drag gold prices to 1280 through 1290 dollars per ounce.



Brent

General overview

Oil prices faced selling pressure on yesterday’s trades as investors escaped risky-assets.

Current situation

Brent oil futures extended their losses in the Asian session on Wednesday. Sellers pushed prices lower, refreshing monthly lows at 44.50. The price was unable to move lower and retreated almost immediately, reversing some of its losses. Buyers led oil quotes to 46.50 where the upward momentum faded and the price slightly rolled back. The moving averages slightly changed since Tuesday. The 50 and 100 EMAs keep moving downwards while the 200-EMA is neutral in the 4 hours chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. RSI bounced from the oversold area.

Trading recommendations

Should oil prices remain below 46.50 the 45.50 support level will come back into play. Conversely, any move above the immediate resistance would increase chances of testing the 47.50 mark.



DAX

General overview

European stocks sharply fell on Wednesday after Trump's surprise victory in the US Presidential elections.

Current situation

DAX index gapped lower at the open on Wednesday. Prices fell from 10500 to 10000. The mark 10000 appeared to be a local bottom, the price turned around and rallied towards the opening prices. The index manages to fill the gap in the NY session. After reaching the level 10500 the benchmark extended its gains towards 10600. The price tested the 200-EMA struggled with the 200-EMA in the 4 hours chart during the NY session. The 50-EMA broke the 100 and 200 EMAs downwards in the same chart. All moving averages keep heading lower. The resistance is seen at 10600, the support is at 10500.

The MACD histogram grew which indicates the buyers’ strength. RSI is going upwards which confirms the strength of buyers.

Trading recommendations

Should the index recover ground and advance beyond the 10500 level, the rally can extend in the short term up to 10600.



SP500

General overview

Wall Street opened lower on Wednesday as Republican Donald Trump was elected 45th U.S. President.

Current situation

The index opened lower yesterday and was able to refresh monthly lows. The lowest price level was marked at 2028 which appeared a firm barrier to overcome. Prices bounced upwards, extending their recovery during the day. The benchmark rallied breaking a number of levels on its way upwards. The price reached the opening prices during the North American session. The S&P500 index broke the 50 and 100 EMAs and tested the 200-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are moving downwards. The resistance is seen at 2140, the support is at 2130.

MACD is in the positive area. MACD has formed signal to rise. RSI is going upwards which confirms the strength of buyers.

Trading recommendations

The index will remain in the downward channel until it holds below 2140. If the benchmark remains below the mentioned level sellers will lead the price towards 2120 and 2110. A clear break above the channel resistance will indicate that the downward movement had completed. Buyers will lead the index to 2150 and 2160.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

11.11.2016

Euro

General overview

The uncertainty regarding Trump's economic policy eased on Thursday after fresh talks that the new administration will promote higher economic growth and inflation.

Current situation

The EUR/USD remained under pressure on Thursday, holding onto recent lows. The euro retained a neutral, short-term undertone. After a sharp drop on Wednesday the currency pair found a support around 1.0900. Prices bounced from the level and reversed minor part of their losses, heading to 1.0950 in the Asian session. Buyers failed to reclaim the level which limited their recovery. The euro spent the first part of the day around 1.0950. The EUR/USD pair declined and broke the level 1.0900 ahead of NY session. The moving averages are heading lower in the 4 hours chart. The 50-EMA is crossing the 100 EMA downwards in the same chart. The resistance is seen at 1.0900, the support could be found at 1.0850.

MACD remained in the negative area. The RSI indicator was holding near oversold levels, favoring a move lower.

Trading recommendations

If a bearish tone prevails EUR/USD will extend its losses towards 1.0800.



Pound

General overview

The pound traded under pressure amid a new oil selling wave and a neutral sentiment in European banks.

Current situation

GBP/USD was neutral yesterday. The pound bounced from 1.2400 and reversed a minor portion of Wednesday’s losses heading towards 1.2500 in the European session. However, buyers failed to extend their gains, prices turned around and returned to the 1.2400 support area. The price tested the 200-EMA in the 4 hours chart. The 200-EMA acted as a barrier on its way upwards. The GBP/USD pair is sandwiched between the 200-EMA and 50 and 100 EMAs in the mentioned timeframe. All moving averages are neutral. The current resistance is seen at 1.2500, the support is at 1.2400.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator continued consolidating within overbought levels.

Trading recommendations

The pound modestly bounced from oversold readings, but it is far from suggesting an upward continuation. If the pair keeps recovering it may retest the level 1.2500. A cut below 1.2400 will suggest a temporally upward momentum easing and open the way towards 1.2300.



Yen

General overview

The increased demand for risky assets weighed on the yen. The upbeat US labor market report and renewed speculation over the Fed rate hike supported the dollar yesterday.

Current situation

The USD/JPY pair traded around recent highs on Thursday. Prices rebounded from 105.00 and moved towards 106.00 breaking 105.50 on its way after a brief weakening in the Asian session. Sellers seemed to be guarding the level 106.00 as the quotes bounced from the level on every attempt to the upside. Bulls managed to break the level any way. After the break the pair trended upwards breaking 106.50 and testing 107.00 ahead the NY session. The pair hovered above the moving averages in the 4 hours chart. The moving averages 50, 100 and 200 are turning upwards. The resistance can be found at 107.00, the support comes in at 106.50.

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

Trading recommendations

After breaking the level 106.50 the pair may extend its gains to 107.00. If the level 107.00 holds it may reject prices towards 105.50.



NZD/USD

General overview

The kiwi weakened against the dollar when the RBNZ cut its benchmark interest rate.

Current situation

The kiwi had a negative day on Thursday. Sellers pushed the price lower after a brief consolidation phase around 0.7300. The pair broke the level 0.7250 and tested 0.7200 in early US trades. Prices broke the 50 and 100 EMAs and tested the 200-EMA in the 4 hours chart. The moving averages are turning downwards in the same chart. The resistance is at 0.7250, the support can be found at 0.7200.

Technical readings are negative. MACD decreased which indicates the buyers’ positions weakening. RSI headed towards the oversold area.

Trading recommendations

The market is in bears’ hands. Strong bearish sentiment is driving the pair towards 0.7200. The next level to focus on is 0.7150.



XAUUSD

General overview

Renewed interest towards risky assets weighed on gold prices on Thursday.

Current situation

The XAU/USD traded mixed on Thursday. Gold prices managed to recover on yearly trades and tested the level 1290. Buyers failed to take out the level, prices bounced downwards, broke the level 1280 and moved lower ahead of the US opening. Gold prices broke the 200 and 100 EMAs and stopped at the 50-EMA in the 4 hours chart. The resistance is at 1280, the support comes in at 1270 dollars per ounce.

MACD decreased which confirms the strength of sellers. RSI is going downwards which confirms the strength of sellers.

Trading recommendations

We believe the bearish tone will remain intact. As the most probable scenario, we consider further moving downwards towards the level at 1270. A close below 1270 will trigger losses towards 1260.



Brent

General overview

Oil prices remained under pressure amid Donald Trump's surprise victory and increase in U.S. crude inventories last week. Brent futures slightly recovered amid risk appetite growth. Investors were cautious ahead of a key OPEC meeting on November 30.

Current situation

Brent futures traded flat staying around recent high at 46.50 on Thursday. Oil prices failed to extend their rebound as sellers seemed to be guarding the level 46.50. Brent got under selling pressure on any up-move upside. Brent oil prices moved lower in early US trades. Sellers led prices from the immediate resistance towards 45.50. Brent futures bounced downwards from the 50-EMA in the 4 hours chart. The 50 and 100 EMAs are heading lower while the 200-EMA is neutral. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

MACD remained at the same level which confirms the strength of sellers. RSI moved towards the undervalued levels.

Trading recommendations

The nearest sellers' target remains the support level 45.50. A break below this mark risks a decline towards the support at 44.50.



DAX

General overview

Shares in European banks remained onto recent highs as investors accepted Trump victory. Markets began to think that Donald Trump and his future economical policy may be not bad for financial stocks as they thought before.

Current situation

The DAX price gapped higher at the open on Thursday. Buyers jumped from 10650 to 10800 but failed to extend their recovery. Prices turned around and moved lower filling the gap after declining back to 10650. Traders continued to advance south heading towards its immediate support at 10600. The index hovered above the moving averages in the 4 hours chart. The moving averages are neutral. The resistance is seen at 10700, the support is at 10600.

MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move lower.

Trading recommendations

The index is oversold and is likely to test the level 10600. After breaking the level a downward movement will be continued towards 10500.



NASDAQ

General overview

Wall Street traded higher on Thursday as investors hoped that the Donald Trump's fresh plans may boost the economy in the short run.

Current situation

NASDAQ traded onto fresh highs on Thursday. Prices extended their gains in the Asian session. The price was able to escalate to 4865 where it met sellers’ resistance. The index failed to move higher and rolled back towards 4835. The price moved towards the 200-EMA in the hours chart. The moving acts as a support for the price. The moving averages 50, 100 and 200 are neutral. The resistance is seen at 4865, the support is at 4835.

MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move lower.

Trading recommendations

The price is expected to decline towards 4835. Should that level be reached successfully the further extension towards 4800 is possible.




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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

14.11.2016

Euro

General overview

The euro got support on the back of the Wholesale Price Index in Germany which met traders' expectations. The dollar was supported by talks that Donald Trump may become not so bad President and his new policy may boost inflation.

Current situation

The euro maintained its bearish tone and is now decisively trading below the 1.0900 mark. After a short lived recovery during the Asian hours sellers pushed the price lower dragging it towards 1.0850. Traders struggled hard to break the level but failed to do it on Friday. The daily high was marked at 1.0920 while the lowest price was at 1.0839. The 1 hour chart showed that the price touched the 50-EMA and bounced off the line immediately after testing it. All moving averages are pointing lower in the mentioned timeframe. The resistance is seen at 1.0900, the support could be found at 1.0850.

Technical indicators are now giving bearish signals. MACD decreased which confirms the strength of sellers. The RSI oscillator consolidated within negative area.

Trading recommendations

We await a break below 1.0850 to trigger another leg lower. A break below will increase chances of testing the 1.0800 mark.



Pound

General overview

The pound got temporally support from some UK politicians who would vote against Brexit unless new referendum on leaving the EU is held.

Current situation

The GBP/USD pair opened on a positive note on Friday. The pound was stronger trending upwards during the day. After a brief consolidation phase in the Asian session buyers continued pushing the sterling higher. They broke 1.2600 and approached 1.2700 post-European open. Buyers were unable to lead prices further, the pair turned around and retreated from fresh session highs. The sterling broke the 200-EMA which has been limited its growth attempts for a week. The 200-EMA remained neutral while the 50 and 100 EMAs are turning upwards in the 4 hours chart. The current resistance is seen at 1.2700, the support is at 1.2600.

Technical indicators retained bullish signals. The MACD histogram grew which indicates the buyers’ strength. The RSI indicator continued consolidating within overbought levels.

Trading recommendations

A break above 1.2500 eased the current downward pressure. The market will remain in bulls' hands until it stays above the mentioned level. The level 1.2700 will be next in our focus. If buyers fail to hold onto gains the pair may return into its previous range 1.2500 - 1.2400.



Yen

General overview

The dollar maintained its bid tone across the board on hopes that Trump's policies will boost inflation and Fed will hike the rate.

Current situation

A failure to take out the level 107.00 made prices pull back. The pair retreated from the recent highs and moved downwards. Sellers broke the level 106.50 and approached the level 106.00 in the mid-European session. The ongoing weakening could be attributed to some profit taking from bulls following Wednesday’s rally. However, sellers failed to retake the level, prices bounced upwards and closed the day around 106.50. USD/JPY traded above moving averages in the 4 hours chart. The moving averages are turning upwards in the same timeframe. The resistance can be found at 107.00, the support comes in at 106.50.

The indicators remained within positive territory. MACD slightly moved back which indicates the buyers’ positions weakening. RSI bounced from the overbought area.

Trading recommendations

We believe the dollar selling will be continued on the back of profit taking. Prices will move towards 105.50 first and after breaking the level may extend their losses towards 105.00.



USD/CAD

General overview

The dollar kept the upbeat tone unchanged vs. its Canadian peer on Friday as investors became more optimistic regarding Donald Trump presidency. Lower oil prices weighed on the Canadian dollar as well.

Current situation

The greenback extended its near-term bullish momentum on Friday. Buyers pushed prices higher, trending towards 1.3540. The lowest point was mark at 1.3453 while the daily high is at 1.3546. The pair moved away from the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs maintained their bullish slope. The resistance is at 1.3540, the support can be found at 1.3470.

The technical indicators kept heading north within positive territory. The MACD histogram grew which confirms buyers’ strength. The RSI indicator was within overbought readings.

Trading recommendations

A consolidation above 1.3470 will strengthen a buying momentum. If the pair stays above the level buyers will lead the price to 1.3540. A cut here will open the way to 1.3600.



XAUUSD

General overview

The improved market sentiment over Trump presidency effect on the U.S. economy weighed on gold prices on Friday.

Current situation

Gold prices stayed around a fresh one-month low on Friday during the Asian hours. The yellow metal remained under pressure amid the bid sentiment around the dollar. The price traded between levels 1250 and 1260 dollars per ounce in the European session. The pair made a good break lower in the NY session. Sellers broke a bunch of levels heading towards fresh monthly low. The XAU/ISD closed the week around 1220. The price continues developing well below the moving averages. The moving averages are heading lower in the 4 hours chart. The resistance is at 1220, the support comes in at 1230 dollars per ounce.

Technical indicators retain bearish signals. MACD remained at the same level which confirms the strength of buyers. The RSI indicator continued consolidating within oversold levels.

Trading recommendations

The precious metal is expected to recover in the short term. Gold will strengthen as soon, as the pair rises above the resistance level 1240. If buyers return they may lead prices to 1260 dollars per ounce.



Brent

General overview

Oil prices remained under pressure on Friday amid supply glut concerns which will remain unless OPEC limits production.

Current situation

Brent futures lost further ground on Friday. Prices remained in a near-term descending channel. Sellers pushed prices below 45.50 extending their losses to the 44.50 mark. The moving averages slightly changed from Friday pointing to further weakening. The resistance is at 45.50, the support comes in at 44.50 dollars per barrel.

The indicators recommend short positions. The MACD histogram decreased which indicates the sellers’ strength. RSI approached the oversold area.

Trading recommendations

Brent will remain under pressure until it stays 46.50. Only a move above 46.50 will ease the downward pressure giving buyers’ a chance to recover towards 48.50.



DAX

General overview

European shares traded mixed on Friday despite the improved sentiment after the US Presidential elections, focus begins to turn back to Brexit.

Current situation

DAX traded mixed on Friday. Prices stayed in a narrow range between levels 10700 and 10600. The index oscillated between those levels, but couldn't break any of them. DAX touched several times the 50-EMA but bounced upwards from the moving. The moving averages maintained a neutral tone. The resistance is seen at 10700, the support is at 10600.

The indicators were in extreme overbought levels. MACD remained at the same level which confirms the strength of buyers. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

A break below 10600 would indicate that immediate upward pressure eased. In this scenario bears will drive prices to 10500.



S&P500

General overview

Wall Street traded lower on Friday as lower oil prices weighed on the Oil & Gas sector while Johnson & Johnson и Pfizer decline led Healthcare sector lower.

Current situation

S&P500 traded in a red zone on Friday. The index retreated from its fresh monthly high, sellers pushed prices lower. The benchmark broke the 2160 level and approached 2150 ahead of the NY opening. The moving averages 50, 100 and 200 are neutral. The resistance is seen at 4865, the support is at 4835.

MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the oversold area.

Trading recommendations

A break below 2150 will strengthen sellers’ positions. Bears may move the index towards 2130.




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