Re: "Fort Financial Services"- fundamental and technical ana
Posted: Wed Aug 16, 2017 11:23 am
"Fort Financial Services"- fundamental and technical analysis.
17.08.2017
Euro
The euro continues to trade in negative ground. Sellers managed to lead the price to 1.1700 where they lost momentum for a while. After touching the level the single currency turned to the upside and recovered to 1.1750. As of writing, sellers are trying to return control now. They returned the spot to 1.1700 and are struggling with the level. The resistance resides at 1.1750, the support comes in at 1.1700.
Sellers broke the ascendant trend line. They need to consolidate below it now. If the spot stays below 1.1750 the price will continue its downward momentum towards 1.1650.
Pound
The pound finally set its course after a week of directionless trades. The major left the range and headed south. Sellers reclaimed 1.2900 and posted a fresh low at 1.2844. The pound is likely to continue its slide today. The resistance lies at 1.2900, the support comes in at 1.2800.
The GBP/USD pair now seems to be heading towards its immediate support near 1.2800.
USD/JPY
The upward trajectory lost steam around 111.00. Sellers seem to be guarding the level not allowing buyers to approach. The price stopped a few pips below the hurdle. The resistance lies at 111.00, the support comes in at 110.00.
The technical picture presents a bullish tone. Once we break above 111.00, we think that the 112.00 level will be next.
XAU/USD
Gold continues to suffer the persistent weakness. The 1270 handle stopped sellers who are trying hard to reclaim the level now. The resistance exists at 1280, the support stands at 1270 dollars per ounce.
If the 1270 level stands the price will recover to 1280-1285. If it falls the pair will extend its losses to 1260 dollars per ounce.
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Brent
The downward momentum lost legs around 52.00 dollars per barrel. Fresh bids around the mark helped Brent to build on a correction. The price reclaimed 50.50 first and advanced to 51.22 after that. The resistance lies at 51.50, the support lies in at 50.50 dollars per barrel.
Sellers broke the ascendant trend line and are trying to take some profit now. We do not believe in the current growth. It is most likely corrective. The benchmark is likely to return to 50.50 soon.
DAX
DAX had a positive morning on Wednesday. The index gapped upwards at the open and continued its rally afterwards. The benchmark broke 12200 and extended its gains up to 12300 during the first part of the day. The resistance lies at 12300, the support exists at 12200.
The 12300 hurdle is the last sellers’ defense line. If it falls buyers may regain control and push DAX to 12450-12500.
*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman
17.08.2017
Euro
The euro continues to trade in negative ground. Sellers managed to lead the price to 1.1700 where they lost momentum for a while. After touching the level the single currency turned to the upside and recovered to 1.1750. As of writing, sellers are trying to return control now. They returned the spot to 1.1700 and are struggling with the level. The resistance resides at 1.1750, the support comes in at 1.1700.
Sellers broke the ascendant trend line. They need to consolidate below it now. If the spot stays below 1.1750 the price will continue its downward momentum towards 1.1650.
Pound
The pound finally set its course after a week of directionless trades. The major left the range and headed south. Sellers reclaimed 1.2900 and posted a fresh low at 1.2844. The pound is likely to continue its slide today. The resistance lies at 1.2900, the support comes in at 1.2800.
The GBP/USD pair now seems to be heading towards its immediate support near 1.2800.
USD/JPY
The upward trajectory lost steam around 111.00. Sellers seem to be guarding the level not allowing buyers to approach. The price stopped a few pips below the hurdle. The resistance lies at 111.00, the support comes in at 110.00.
The technical picture presents a bullish tone. Once we break above 111.00, we think that the 112.00 level will be next.
XAU/USD
Gold continues to suffer the persistent weakness. The 1270 handle stopped sellers who are trying hard to reclaim the level now. The resistance exists at 1280, the support stands at 1270 dollars per ounce.
If the 1270 level stands the price will recover to 1280-1285. If it falls the pair will extend its losses to 1260 dollars per ounce.
[/b]
Brent
The downward momentum lost legs around 52.00 dollars per barrel. Fresh bids around the mark helped Brent to build on a correction. The price reclaimed 50.50 first and advanced to 51.22 after that. The resistance lies at 51.50, the support lies in at 50.50 dollars per barrel.
Sellers broke the ascendant trend line and are trying to take some profit now. We do not believe in the current growth. It is most likely corrective. The benchmark is likely to return to 50.50 soon.
DAX
DAX had a positive morning on Wednesday. The index gapped upwards at the open and continued its rally afterwards. The benchmark broke 12200 and extended its gains up to 12300 during the first part of the day. The resistance lies at 12300, the support exists at 12200.
The 12300 hurdle is the last sellers’ defense line. If it falls buyers may regain control and push DAX to 12450-12500.
*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman