"Fort Financial Services"- fundamental and technical analysi

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

07.09.2016

Euro

General overview

A weaker-than-expected Non-Manufacturing PMI softened the dollar and sent it to the monthly low.

Current situation

The pair traded under pressure, the price remained close to 1.1130 in the Asian and European sessions on Tuesday. The instrument grew on the back of a weak Non-Manufacturing PMI during the North American hours. The pair broke the level 1.1200 and trended towards 1.1270. The EUR/USD broke the 50, 100 and 200 EMAs and headed north from them in the 4 hours chart. The resistance is seen at 1.1270, the support stands at 1.1200.

MACD grew which indicates the sellers’ positions weakening. RSI is growing towards the overbought area.

Trading recommendations

A break above 1.1270 would open the way to 1.1350. Should the price return below the 1.1200 level and the way towards 1.1130 will be opened.



Pound

General overview

The GBP/USD is positive due to a strong Services PMI in the country. Moreover, the sterling grew on the back of a weak U.S Non-Manufacturing PMI on Tuesday.

Current situation

There were no major events on the UK schedule and the pound traded under the influence of external factors. The pair remained in green figures on Tuesday. The price recovered from yesterday’s lows and returned to the resistance 1.3360 during the European session. The instrument accelerated upwards and broke the 1.3360 in the North American session. The 4 hours chart shows that GBP/USD hovered over the moving averages which are modestly bullish. The 50-EMA rebounded from the 100-EMA and crossed upwards the 200-EMA which is a buy signal. The current resistance is seen at 1.3500, the support exists at 1.3360.

MACD shows convergence in the 1 hour chart. RSI entered the overbought area.

Trading recommendations

The level 1.3360 is the key level now. If the price gets below it we will take into account a continuation of the downtrend towards 1.3200. To trigger additional upward momentum the GBP/USD needs to consolidate over 1.3360.



Yen

General overview

Uncertainty over the timing of next Fed rate-hike and the disappointing U.S statistics weighed on the pair. The dollar got under pressure on Tuesday when the US services sector unexpectedly dropped to the lowest level since January 2010.

Current situation

The pair has been trading in a consolidation range since last Wednesday. Buyers’ attempts to continue an upward movement failed, the price stayed close to the resistance 103.50 during the day. After disappointing U.S statistics the dollar got under pressure and fell to 5-day low. Sellers led the price from 103.50 towards 102.50. The USD/JPY touched the 200-EMA in the 4 hours chart. The 50-EMA broke the 100 and 200 Day EMAs in the mentioned timeframe. All moving averages are turning around. The resistance is at 102.50, the support comes in at 101.40.

MACD formed a divergence in the 1 hour chart. RSI is heading towards the oversold territory.

Trading recommendations

The market is bearish right now. We see it heading south towards 101.40.



NZD/USD

Current situation

The NZD was stronger on Tuesday, trading near local high against the dollar. Traders pushed the pair higher and the price was able to break the resistance 0.7320 and touched the level 0.7400. The new session high is at 0.7413 now. The NZD/USD remained above the 50, 100 and 200-EMAs. The moving averages continued their advance north. The resistance is at 0.7400, the support comes in at 0.7320.

The histogram grew which indicates the buyers’ strength. RSI is close to the overbought area.

Trading recommendations

The price may roll back below 0.7400 which is a good option to buy the price. If the NZD/USD breaks 0.7250 the downward movement will continue to the 0.7200 region where the 200-EMA lies.



XAUUSD

General overview

Gold futures grew on the back of disappointing U.S Non-Manufacturing PMI report. The latest negative U.S statistics reduced expectations that the Fed will raise interest rates in September.

Current situation

Gold prices jumped to the weekly highs due to US negative Services PMI. The price broke the resistance 1330 and is trending towards 1350 now. The XAU/USD moved from the 100 and 200 EMAs in the 4 hours chart. The moving averages are moving upwards. The resistance is at 1350, the support comes in at 1330 per ounce.

MACD is in the positive area. RSI entered the overbought area.

Trading recommendations

We believe that this is essentially a “buy only” market at the moment. The next buyers’ target is the level 1350.



Brent

General overview

Iraq's Prime Minister is in the focus now. According to Haider al-Abadi Iraq is ready to cooperate with Saudi Arabia and Russia to freeze on production to increase prices.

Current situation

The technical picture presents a slightly bearish tone. The price kept decreasing on Tuesday during the day. Brent found a support in the 106.50 region where the downward impulse faded and the price slightly rolled back. The 200-EMA stopped the oil prices downward movement. After touching the line the oil futures bounced off. The 200-EMA is neutral, the 50-EMA is pointing lower, the 100-EMA is still moving upwards. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

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

Trading recommendations

If the price returns above 47.50 the Brent futures will continue its uptrend. Alternatively, Brent will decrease below 46.50.



Nasdaq

General overview

US stocks grew on Tuesday after weak services data. Non-Manufacturing PMI report weighed on Forex market and fueled rally of riskier assets - including stocks.

Current situation

The index had a positive day on Tuesday. Nasdaq continued moving higher and approached record highs touched in mid-August. The price bounced from the 100-EMA in the 4 hours chart. The instrument is well above the moving averages now which are pointing higher. The resistance is seen at 4835, the support lies at 4800.

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

Trading recommendations

As long as market is holding above 4800 the upward pressure will continue towards 4835.



S&P 500

General overview

Wall Street opened higher after 3-day long week-end. The latest US data diminished prospects of Fed rate-hike in September.

Current situation

The index was neutral during the day and active in the North American session. The price fell below 2180 on the latest news. The downward momentum immediately faded and the S&P500 returned back to the mark where it started the day. The index broke the 50 and 100 EMAs and bounced upwards from the 200-EMA in the 4 hours chart. The resistance is seen at 2190, the support is at 2180.

The MACD and RSI indicators remain within positive territory.

Trading recommendations

We consider only buying positions now. The buyers’ target is the level 2190.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

08.09.2016

Euro

General overview

The dollar retreated from the recent lows. However, we believe its growth will be limited in the light of the disappointing US statistics.

Current situation

After a sharp growth the pair holds below 1.1270. The consolidation is so far holding within 1.1230 and 1.1270 range. The euro stays above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are turning upwards. The resistance is seen at 1.1270, the support stands at 1.1200.

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

Trading recommendations

The price may reverse some of its losses and decrease to the 1.1180 region where the moving averages reside. The lines can provide a support for the price which may bounce upwards to presume its growth. The levels 1.1270 and 1.1350 are the next buyers’ targets.



Pound

General overview

The pound softened due to a weak Industrial Production report. The production fell more than expected in July.

Current situation

The pound experienced a strong rally against the US dollar on Tuesday. Today the sterling came under renewed selling pressure. The GBP/USD pair retreated from the recent highs and is testing the support 1.3360. The 50, 100 and 200 Day EMAs maintain a strong bullish slope. The 50-EMA is crossing the 200-EMA upwards which is a buy signal. The current resistance is seen at 1.3500, the support exists at 1.3360.

MACD shows a divergence in the 1 hour chart. RSI stays within the overbought area.

Trading recommendations

All eyes are right now at the support level 1.3360. Should that level break down and the GBP/USD will return to a decrease. Sellers’ targets are the levels 1.3270 and 1.3200. The pound will continue to advance north if the price breaks the mark 1.3440. The resistance 1.3500 is the next buyers’ target.



Yen

General overview

The yen strengthened against the dollar following the Foreign Reserves report for August. Weaker-than-expected figures diminished the possible policy softening in September.

Current situation

USD/JPY’s outlook has shifted to neutral from bearish. The instrument stays at the recent lows. The 50-EMA bounced from the 200-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are turning down in the same chart. The resistance is at 102.50, the support comes in at 101.40.

MACD entered the negative area. MACD decreased which confirms the strength of sellers. RSI remains within negative territory.

Trading recommendations

The pair remains in red figures. Any rebound above 101.40 should be considered corrective. The USD/JPY may grow up to the 102.15 region where the 200-EMA may limit its further growth. The levels 101.40 and 100.40 are the next sellers’ targets.



USD/CAD

General Overview

The US dollar retreats as the Fed hike hopes fade in the market. The oil prices growth supported the Canadian dollar. Traders are waiting for the BoC meeting results.

Current situation

The pair is trading in a consolidation range between 1.2824 - 1.2864. The USD/CAD shows neutral sentiment. The moving averages preserve a bearish slope. The 50-EMA is crossing the 100 and 200 EMAs in the 4 hours chart. The resistance is at 1.2900, the support comes in at 1.2800.

MACD remained at the same level which confirms the strength of sellers. RSI is consolidating within the negative territory.

Trading recommendations

The pair USD/CAD may grow towards the resistance 1.2900 where it can reverse and return to a decrease. Sellers will push the price towards 1.2800.



XAUUSD

General overview

Gold futures are still in green figures after a surprisingly weak U.S. service sector report which reduced expectations for the next U.S. rate hike in 2016.

Current situation

Gold prices remained at the weekly highs on Wednesday. Buyers seem to have run out of steam and the pair is going back and forth in a strict range between the marks 1345 – 1352. The gold prices are above the moving averages which are pointing upwards in the 4 hours chart. The resistance is at 1350, the support comes in at 1330 per ounce.

MACD and RSI slightly changed from yesterday. Indicators generate a buy signal.

Trading recommendations

The overall outlook remains bullish, for rise towards 1360 resistance area. However, as the XAU/USD is overbought we expect a short term correction towards 1330.



Brent

General overview

The latest agreement among Iran, Saudi Arabia and Russia over a potential output freeze supported oil prices. All eyes are on the API report now.

Current situation

Brent futures returned under selling pressure in the middle of the European session. Earlier, the price partly erased its losses. Buyers managed to push the oil prices from the support 46.50 above the level 47.50. The Brent bounced from the 50-EMA in the 4 hours chart. The 50-EMA shows a bearish slope, the 100-EMA is still moving upwards and the 200-EMA is neutral. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

MACD remained in the positive area. RSI is consolidating within the overbought territory.

Trading recommendations

The indicators recommend short positions. Once we break below the 47.50 level, we think that the 46.50 level will be next. Alternatively, Brent may extend its recovery towards 48.50.



DAX

General overview

DAX index was neutral on Wednesday as traders are in wait-and-see mode ahead of the ECB meeting on Thursday.

Current situation

The index showed neutral trades on Wednesday. The price remained near the recent high at 10700. The 50, 100 and 200 Day EMAs maintain bullish slope. The 50-EMA is crossing the 100-EMA downwards. The resistance is seen at 10900, the support lies at 10700.

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

Trading recommendations

We expect markets to stay fairly neutral ahead of the ECB meeting. The price will remain at 10700.



S&P 500

General overview

Wall Street opened neutral on Wednesday as traders wait for the new drivers and clues when the Fed may raise the rate next time.

Current situation

The index slightly decreased from the recent high at the start of the day. Sellers pushed the price to the level 2180. The 50, 100 and 200 EMAs are neutral in the 4 hours chart. The 100-EMA acts as a support for the price. The resistance is seen at 2190, the support is at 2180.

MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI slightly moved from the overbought area.

Trading recommendations

In the light of the disappointing statistics sellers could return to the market. In the scenario where traders are back the S&P500 will get below 2180 and will advance to the 2170 region.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

09.09.2016

Euro

General overview

As it was anticipated the European Central Bank decided to leave key interest rates unchanged on Thursday.

Current situation

The tone was positive during the course of the day. Buyers were able to push the price higher and broke the level 1.1270 in the earlier European session. The pair retreated from the high after the ECB meeting. Now the price is trending to the support at 1.1270. The single European currency is heading away from the 50, 100 and 200 Day EMAs in the 4 hours chart. The moving averages maintain the bullish slope. The resistance is seen at 1.1350, the support stands at 1.1270.

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

Trading recommendations

The short positions are more actual now. The EUR/USD may roll back towards the 1.1270 region. After breaking the level the price will go to 1.1200.



Pound

General overview

The pound softened on the back of the weaker Manufacturing Production report and Governor Carney's dovish comments.

Current situation

The bullish tone that started mid August remains firm in place. The GBP/USD is in an ascending channel, close to its lower limit. The pair got under the selling pressure and is falling towards 1.3200 now. The 50-EMA is crossing the 200 and 100 EMAs upwards. All moving averages keep heading higher. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD remained in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is heading south.

Trading recommendations

If the GBP/USD regains the level 1.3360 the price will grow towards the round level – 1.3400. The mark 1.3440 is the next buyers’ target. In case of the selling scenario sellers will drag the price towards the 1.3200 area.



Yen

General overview

The revised GDP report in Japan came in at 0.2% vs. expectations of 0.0%. The yen grew on the back of the weak U.S dollar after disappointing statistics and due to traders' concerns that the BoJ may not soften its policy further.

Current situation

The USD/JPY was neutral during the European hours and became more volatile in the North American session on Thursday. The price was at 101.40 the first part of the day and slightly grew when US traders came to the market. The instrument stays below the bearish 50, 100 and 200 EMAs which extended their decrease. The 100-EMA acts as a resistance for the price. The resistance is at 102.50, the support comes in at 101.40.

MACD is in the negative area. RSI is close to the oversold area.

Trading recommendations

The dollar is trying to reverse its losses. If the pair preserves an upward momentum the price will grow towards 102.50.



AUD/USD

General Overview

According to the Australian Bureau of Statistics the trade deficit narrowed to A$2.410B in July vs. expectations of A$2.750.

Current situation

The aussie was stronger in the Asian session on Thursday, trading near local high against the dollar. Bulls managed to break the level 0.7700 on the back of the positive statistics. The pair retreated from the high in the European session, the AUD/USD is heading towards 0.7650. The moving averages (50, 100 and 200) accelerated their growth. The resistance is at 0.7700, the support comes in at 0.7650.

The MACD histogram decreased which indicates the buyers’ weakness. RSI left the overbought area.

Trading recommendations

Technically, the instrument is overbought and we do not exclude a correction to the 0.7650 region.



XAUUSD

General overview

The gold prices retreated from the 2 week high after a recent rally caused by negative US statistics.

Current situation

The XAU/USD was in buy mode on Thursday. Buyers were trying to erase the recent losses and led the price from the local low to the nearest resistance level – 1350 during the European session. The XAU/USD got under pressure in the North American session and decreased towards 1340. The instrument remained above the 50, 100 and 200 EMAs in the 4 hours chart. The 50-EMA is crossing the 100 and 200 EMAs upwards in the mentioned timeframe. All moving averages are turning upwards. The resistance is at 1350, the support comes in at 1330 per ounce.

MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI is approaching the overbought area.

Trading recommendations

The pair is overbought and we anticipate a short term correction. The price may decrease towards 1330.



Brent

General overview

Brent prices grew on the back of the strong Imports in China and API crude oil stocks report in the USA.

Current situation

Brent prices stayed in green figures on Thursday. The instrument traded near the recent high at 48.88 during the European session. The price decreased at the start of the American session. The price touched the 100-EMA in the 4 hours chart. The 100-EMA stopped the price which rebounded from it. The 100 and 200 EMAs are neutral, the 50-EMA is heading south. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

MACD is in the positive area. RSI is moving from the overbought territory.

Trading recommendations

The price may slightly roll back below 48.50. However, the overall tone is bullish. The next buyers’ target is the level 49.50 dollars per barrel.



DAX

General overview

European stocks traded lower after the ECB’s decision to keep the rate unchanged.

Current situation

The price holds a bullish tone and the trend is objectively bullish in the 4 hours chart. The index remained close to the recent highs, trading above the support 10700 ahead of the ECB meeting. The price retreated from the weekly high and dropped below 10700 in the North American session. The DAX is hovering above the moving averages (50, 100 and 200) in the 4 hours chart. The moving averages direction is upwards. The resistance is seen at 10700, the support lies at 10520.

MACD remained at the same level which confirms the strength of buyers. RSI left the overbought area.

Trading recommendations

DAX may test the support level 10520 soon. Should the price break the level and its downward trajectory will continue towards 10350.



Nasdaq

General overview

Wall Street opened lower on Thursday despite the positive Initial Jobless claims report and the ECB decision regarding the rates.

Current situation

The index decreased from the recent high on Thursday. Despite the current decrease the overall tone is still bullish. Buyers are not hurrying to give up their recent gains. The price is struggling for the level 4800 now. The 100-EMA is neutral, the 50 and 200 EMAs are moving upwards in the 4 hours chart. The resistance is seen at 4835, the support is at 4800.

MACD decreased which indicates the buyers’ positions weakening. RSI rebounded from the overbought area

Trading recommendations

The tone is switched to the bearish. We believe the price will break the level 4800 and will fall to 4770.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

12.09.2016

Euro

General overview

The euro grew after the ECB decision to leave rates unchanged.

Current situation

The euro is still bullish despite last week upside rejection. After climbing to highs above 1.1280 the price retreated to the 1.1270 area where it formed a narrow range on Friday. After a short-term consolidation the price fell further towards 1.1200. The moving averages maintain the bullish slope in the 4 hours chart. The 50-EMA bounced from the 200-EMA and crossed the 100-EMA upwards in the same chart. The resistance is seen at 1.1270, the support stands at 1.1200.

MACD shows a divergence in the 1 hour chart. RSI is consolidating within the overbought territory.

Trading recommendations

If buyers manage to make a breakout of 1.1270 they will push the price towards 1.1350. Conversely, sellers will lead the quotes towards the 1.1200 area.



Pound

General overview

The pound is inactive against the dollar after disappointing Trade Balance in the country. The dollar is still weak due to the fading expectations of the Fed rate hike.

Current situation

The tone is still positive in the market. The GBP/USD was almost unchanged on Friday, consolidating in a range 1.3300 – 1.3340. The moving averages are moving upwards. The 50-EMA is crossing the 200-EMA upwards, the 200-EMA is touching the 100-EMA in the 4 hours chart. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD decreased which indicates the buyers’ positions weakening. RSI is approaching the negative territory.

Trading recommendations

The overall picture remains bullish, however, soft near-term studies maintain risk of stronger correction towards 1.3100.



Yen

General overview

The dollar strengthened against the yen despite the reduced expectations over the rate hike in the USA in September.

Current situation

The bullish views are still popular. The dollar continued its rally after a brief consolidation in the Asian session on Friday. The price broke 102.50 and is trying to consolidate over it. The instrument broke the 50, 100 and 200 EMAs upwards and is heading away from them. The moving averages are neutral. The resistance is at 103.50, the support comes in at 102.50.

MACD grew which indicates the sellers’ positions weakening. RSI is advancing towards the overbought area.

Trading recommendations

The pair seems to continue with the recovery. The price is heading towards 103.50.



NZD/USD

General Overview

The commodity currencies fell in the light of oil prices decrease. Investors were cutting their long positions after the recent sharp rally of oil prices.

Current situation

Despite the bullish trend, sellers have the ball now. Bears are pushing the price down, the instrument is approaching the support 0.7320. The moving averages (50, 100 and 200) direction is upwards. The NZD/USD is approaching the 50-EMA which acts as a support for the price. The resistance is at 0.7400, the support comes in at 0.7320.

The MACD histogram decreased which indicates the buyers’ weakness. RSI left the overbought area and is approaching the oversold one.

Trading recommendations

If the downward pressure persists sellers will lead the price towards 0.7320. Alternatively, the price may rebound upwards from the nearest support and resume its uptrend towards 0.7400-0.7450.



XAUUSD

General overview

The gold prices continued retreated from the 2 week high. However its decrease is expected to be limited due the dollar weakness across the board.

Current situation

The technical picture presents a slightly bearish tone. The price is consolidating at 1336 after a sharp decrease. The 50-EMA is crossing the 100 and 200 EMAs upwards in the 4 hours chart. The moving averages are moving upwards. The resistance is at 1350, the support comes in at 1330 per ounce.

The MACD histogram decreased which indicates the buyers’ weakness. RSI left the overbought area and is approaching the oversold one.

Trading recommendations

Sellers’ first target is the level 1330 per ounce. After breaking the level they will push the price to 1320. In the scenario where buyers are back the gold quotes will grow towards 1350.



Brent

General overview

Oil prices strengthened across the board on the back of the largest oil inventories drawing since 1999.

Current situation

Brent prices retreated from the recent high on Friday when buyers started closing their positions after a rally the day before. The price returned below 49.50 and is approaching the support 48.50. Crude oil prices are approaching the 50-EMA in the 4 hours chart. The 50-EMA extended its growth, the 100 and 200 EMAs are turning upwards. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

MACD is in the positive area. The indicator decreased which indicates the buyers’ weakness. RSI bounced from the overbought territory.

Trading recommendations

We believe that the price is heading towards 48.50 dollars per barrel. If the level could stand the Brent will return to its growth and buyers will push the instrument above 49.50. The next buyers’ target is the level 50.50 dollars per barrel. Sellers, in their turn, may push the price towards 47.50.



DAX

General overview

European stocks keep showing disappointment over the latest ECB decision to leave rates unchanged.

Current situation

In the trading on Friday, September 9, the DAX traded lower on the back of disappointing statistics from the EU. The price remains within a narrow bullish channel. Sellers pushed the price to its lower boundary. The 4 hours chart shows that the price is currently struggling with a bullish 50 and 100 EMAs. The moving averages direction is upwards. The resistance is seen at 10700, the support lies at 10520.

The MACD indicator decreased which indicates the buyers’ weakening. RSI is moving from the overbought territory.

Trading recommendations

The price may decrease to 10520. A cut through here will aim the index at the 10440 mark.



S&P500

General overview

Wall Street traded lower on Friday after the ECB disappointing decision which weighed on the global stocks.

Current situation

The index closed the day in red figures. S&P500 got under intense selling pressure on Friday. The price sharply fell from the mark 2177 towards the current support 2165. The instrument broke the 50, 100 and 200 EMAs downwards. The resistance is seen at 2180, the support is at 2165.

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

Trading recommendations

We expect a further decline towards 2160. We do not exclude a short-term correction towards 2170.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

13.09.2016

Euro

General overview

The dollar strengthened on the back of renewed speculation that the Fed will act as soon as this month and due to the ECB’s decision to keep the rate unchanged.

Current situation

The pair traded flat on Monday. The price was able to recover in the Asian session. However, the EUR/USD pair erased all its previous gains at the start of the European session. The price got under selling pressure and was trending towards 1.1200 during the European hours. The euro touched the 50-EMA in the 4 hours chart. The 50-EMA acts as a support for the price. The 50, 100 and 200 EMAs are pointing higher in the same chart. The resistance is seen at 1.1270, the support stands at 1.1200.

MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is neutral, its signal line is approaching the oversold area.

Trading recommendations

If the pressure persists the EUR/USD pair can fall below 1.1200. In this potential scenario, sellers will push the price to 1.1130. On the other hand, the EUR/USD can recover up to the 1.1300 region.



Pound

General overview

There were no macroeconomic releases in the UK on Monday. The market will be focused on Core Consumer Price Index in the coming sessions.

Current situation

The pound trades within a tight range on Monday, not far from Friday's low. The price went back and forth between 1.3244 – 1.3285 during the day. The pound/dollar recovered at the start of the North American session. The price briefly broke the 50-EMA and immediately returned above it in the 4 hours chart. The 100-EMA is crossing the 200-EMA upwards in the same chart. The moving averages preserve a bullish slope. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD is in the negative territory. MACD decreased which confirms the strength of sellers.
RSI is approaching oversold territory.

Trading recommendations

A bearish continuation through the 1.3200 level should lead to a continued decrease, with 1.3100 as the first target. The sterling can recover to the 1.3360 region.



Yen

General overview

The yen grew on the back of stronger Machinery Orders report. Domestic Corporate Goods Price Index decreased in the country. Investors are looking for new hints regarding the Fed rate hike in coming months.

Current situation

The price retreated from the previous week’s top and got under selling pressure. The pair is trending lower through the 102.50 mark. The immediate low is at 101.70. The price broke the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are neutral. The resistance is at 102.50, the support comes in at 101.40.

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 neutral.

Trading recommendations

The loss of the 102.50 level is now pointing to a further period of downside to come. The price may fall further to 101.40 and 101.20.



USD/CAD

General Overview

The dollar is strong across the board due to expectations of an eventual Fed rate-hike action in September. Traders are waiting for new Fed’s official comments.

Current situation

The greenback is still strong against its Canadian counterpart. Traders pushed the price higher and the pair seems to have found an immediate resistance at 1.3100 where the price turned down and trended south. The 50, 100 and 200 Day EMAs accelerated their growth. The 50-EMA is crossing the 100 and 200 EMAs upwards. The resistance is at 1.3200, the support comes in at 1.3100.

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

Trading recommendations

A clear strength above this immediate resistance will pave way for continuation of the pair's growth towards 1.3200. Alternatively, sellers will lead the price below 1.3100 towards the 1.3040 region.



XAUUSD

General overview

Gold futures weakened amid reviving hopes of an eventual Fed rate-hike in September.

Current situation

Gold traded at 4-day lows on Monday. After a brief consolidation during the Asian hours the metal returned to a decrease in the European session. The instrument broke through the 50, 100 and 200 EMAs and headed away from them. The resistance is at 1330, the support comes in at 1316 per ounce.

MACD is negative. MACD decreased which confirms the strength of sellers. RSI is approaching the oversold area.

Trading recommendations

As anticipated the price broke the 1330 level. Now the gold futures are advancing south. The level 1316 is the next sellers’ target.



Brent

General overview

Brent prices weakened when the U.S. drillers added oil rigs last week.

Current situation

Brent kept trading lower on Monday. The price broke the 47.50 level and is approaching the next one – 46.50. The instrument was able to regain the 47.50 level and continued its recovery during the North American hours. The price broke the 50-EMA during the European trades on Monday. Now the oil prices are sandwiched between the 50 and 200 EMAs. The 50 and 100 Day EMAs are turning down, the 200-EMA is neutral. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

MACD decreased which confirms the strength of sellers. RSI is approaching oversold area

Trading recommendations

A strong breakdown and close below 46.50 could send prices lower towards 45.30. However, the instrument is oversold and we do not exclude a large correction towards 48.50.



DAX

General overview

DAX decreased when risk aversion returned to the market on expectations that the Fed may raise its rates in September.

Current situation

The index gapped lower at the open on Monday. The price jumped from 10460 to 10420. DAX weakened further during the Asian and European session. The instrument seems to have found a support at 10350 where it can pause after 3-day decrease. The index quotes gapped over the 200-EMA which acts as a resistance now. The 200-EMA extended its advance north, the 100-EMA is crossing the 50-EMA, both lines are turning down. The resistance is seen at 10520, the support lies at 10350.

MACD decreased which confirms the strength of sellers. RSI is in the oversold territory.

Trading recommendations

The overall picture is bearish. In the event that the sellers manage to force below 10350 the price may drop to 10175. DAX found a strong support at the level of 10350. We don’t exclude a larger bullish correction tomorrow. The price may recover towards 10520.



Nasdaq

General overview

Nasdaq opened lower on Monday on the back of oil prices decrease and revived hopes that the Fed will hike the rate next week.

Current situation

The index was under pressure during the Asian session on Monday. Nasdaq bounced off the level 4630 and erased some of its losses during the North American hours. The price is well below its 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are turning south. The resistance is seen at 4680, the support is at 4650.

MACD decreased which confirms the strength of sellers. RSI is in the oversold territory

Trading recommendations

We expect a further recovery towards 4680 now. Should this mark be reached successfully, a further extension towards 4700 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.

14.09.2016

Euro

General overview

The euro remained under pressure following the negative Economic Sentiment in Germany for September.

Current situation

The pair EUR/USD traded within a tight range on Tuesday. The price went back and forth between 1.1220-1.1240 during the day. The instrument stayed above the moving averages in the 4 hours chart. The 4 hour charts shows that the price is currently struggling with a bullish 50-EMA. All moving averages maintain a bullish slope and stand around the level 1.1200, adding additional support to the price. The resistance is seen at 1.1270, the support stands at 1.1200.

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

The level 1.1200 is an obstacle for sellers on their way down. Should that level break down and the price will fall to 1.1130.



Pound

General overview

The pound softened on the weaker-than-expected Consumer Price Index.

Current situation

The British pound had a negative day on Tuesday. After a brief consolidation at 1.3330 during the Asian hours the sterling continued moving lower in the European session, the day low was marked at 1.3225. The price broke the 50-EMA and tested the 100-EMA in the 4 hours chart. The 100-EMA is crossing the 200-EMA upwards. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD indicator is in the negative territory, that indicates sellers’ growing strength. RSI is moving towards the negative territory.

Trading recommendations

All eyes are right now at the support level 1.3200. The pound might bounce off the level. In this potential scenario buyers will lead the price towards the 1.3250 region. The pair GBP/USD might extend its downward trajectory towards 1.3100 if it breaks the level 1.3200.



Yen

General overview

The dollar strengthened across the board when the Fed official’s comments revived speculations over the possible rate hike in September.

Current situation

The USD/JPY was in buy mode on Tuesday. The dollar erased losses which it suffered on Monday. Buyers were able to push the price towards 102.50. The instrument returned above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are neutral. The resistance is at 102.50, the support comes in at 101.40.

MACD is negative. MACD decreased which confirms the strength of sellers.
RSI rebounded from the oversold area

Trading recommendations

Bulls’ nearest target remains the same – 102.50. After breaking the level the price may extend its growth towards 103.00 and further out to 103.50. In the scenario where sellers are back the price will break 101.40 and advance to 100.40.



AUD/USD

General Overview

The Aussie fell on Tuesday on the back of the central bank officials’ comments that the regulator needs a weaker currency.

Current situation

The recent recovery from 0.7500 appeared to be overextended. The price returned below 0.7540 and is consolidating its gains now. The price is developing below the moving averages in the 4 hours chart. The moving averages keep heading lower. The 50-EMA is crossing the 100 and 200 EMAs downwards. The resistance is at 0.7540, the support comes in at 0.7500.

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

Trading recommendations

We remain bearish on the outlook for the currency. The level 0.7500 holds the pair from its further decrease. A break below this mark risks a decline towards the next support at 0.7460.



XAUUSD

General overview

Expectations over the Fed’s next monetary policy action remain a key determinant for the pair. The uncertainty over the issue weighs on the metal.

Current situation

The gold prices remained under pressure. Its latest recovery appeared to be overextended and the metal returned below 1330 dollar per ounce. The day low was marked at 1321. The XAU/USD broke the moving averages down. The moving averages maintain a bearish slope. The resistance is at 1330, the support comes in at 1316 dollar per ounce.

Trading recommendations

Gold futures are under pressure. A strong breakdown and close below 1320 could send prices lower towards 1316. Alternatively, the metal will grow through 1330 towards 1335.



Brent

General overview

Brent prices got under pressure following the IEA forecasts over a sharp slowdown in global oil demand growth.

Current situation

Brent seems to have found a solid support at 47.50 which slowed down its decrease. The price slightly rolled back and stopped a few pips above the level in the European session. The quotes returned to a decrease in the North American session. The price bounced downwards from the bearish 50-EMA in the 4 hours chart. The crude oil futures are heading towards the 200-EMA now. The 50-EMA is bearish, the 200-EMA is bullish and the 100-EMA is neutral. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

MACD entered the negative area. MACD decreased which confirms the strength of sellers. RSI is approaching oversold area.

Trading recommendations

A weak API report will weigh on Brent. In this scenario, the price will decrease towards 46.50. Otherwise, we will see a move above 48.50.



DAX

General overview

European stocks are neutral after a 3-day decrease.

Current situation

The index was neutral on Tuesday after a rapid growth the day before. The price remained in an ascending channel, close to its lower boundary. The overall tone is bullish. DAX traded close to the 200-EMA in the 4 hours chart. The 200-EMA acts as a support and limits its further decline. The 50 and 100 EMAs formed a crossover and are turning downwards. The resistance is seen at 10520, the support lies at 10350.

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

Trading recommendations

If the price remains below 10520 it may decline further. The level 10350 is the next sellers’ target. A break above 10520 would open the way to 10700.



S&P500

General overview

S&P500 opened lower due to the rate hike uncertainty and as the oil prices remained under pressure.

Current situation

The index retreated from the recent weekly high and is trending downwards. The price broke 2150 and 2140 and is approaching 2130 now. The instrument is moving away from the moving averages. The 100-EMA is crossing the 200-EMA downwards. All moving averages direction is downwards in the 4 hours chart. The resistance is seen at 2140, the support is at 2130.

MACD decreased which confirms the strength of sellers. RSI approached the oversold territory.

Trading recommendations

The S&P 500 index now seems to be heading towards its immediate support near 2130. The second sellers’ target lies at 2120.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

15.09.2016

Euro

General overview

The EUR/USD pair ignored the weak Industrial Production report in the Eurozone. The quotes remained at the previous levels.

Current situation

The pair is trading in a consolidation range, not far from the recent lows. The euro gets under selling pressure on any up-move towards 1.1270. The price remained above the 50-EMA which acts as a support. The 50, 100 and 200 EMAs are neutral in the 4 hours chart. The resistance is seen at 1.1270, the support stands at 1.1200.

MACD remained at the same level which confirms the strength of sellers. RSI is neutral, the indicator is close to the negative territory.

Trading recommendations

In the event that the sellers manage to force below 1.1200 the price will decrease towards 1.1130. An uptrend will start as soon, as the pair rises above resistance level 1.1270.



Pound

General overview

The market was inactive on Wednesday, digesting the latest labour market data. Traders stands still ahead of the BoE's meeting on Thursday.

Current situation

The pound made an attempt to regain the level 1.3200. The pair stopped its recovery slightly above 1.3200 in the European session. The sterling got under pressure during the North American hours. Sellers returned the price below 1.3200. The price traded lower the 200-EMA in the 4 hours chart. The 100 and 200 EMAs are neutral, the 50-EMA is pointing lower. The current resistance is seen at 1.3200, the support exists at 1.3100.

MACD remained in the negative area. RSI is within the negative territory.

Trading recommendations

The pound is under pressure that suggests its further weakness. Sellers' nearest target remained the support level 1.3200. The second sellers' target is the level 1.3100.



Yen

General overview

The yen weakened on Wednesday following the speculations on further BoJ easing its monetary policy.

Current situation

The dollar grew to a six-day high against the yen. The price almost reached 103.50 when it reversed and decreased to 102.50. The price is above its moving averages, with the 50, 100 and 200 EMAs providing a strong dynamic support in the 102.00 region. The moving averages are neutral in the 4 hours chart. The resistance is at 103.50, the support comes in at 102.50.

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 within positive territory.

Trading recommendations

A break above 103.50 would open the way to 104.50. Once we break below the 102.50 level, we think that the 101.40 level will be next.



NZD/USD

General Overview

The kiwi eased on the back of a weaker-than-expected Current Account in the country.

Current situation

The price bounced off 0.7250 and traded higher on Wednesday. The upwards trend is still intact despite the recent decline. The NZD is struggling with the bullish 200-EMA to go lower in the 4 hours chart. The price is sandwiched between the 100 and 200 EMAs in the mentioned timeframe. The 50 and 100 EMAs are pointing lower. The resistance is at 0.7320, the support comes in at 0.7250.

MACD decreased which confirms the strength of sellers. RSI is consolidating within oversold territory.

Trading recommendations

The tone is still negative in the market. A move below 0.7250 will signal the presence of sellers. The sellers will lead the price to 0.7200. In the scenario where buyers return control the NZD/USD will grow towards 0.7400 through 0.7320.



XAUUSD

General overview

Gold prices traded lower on Wednesday ahead of expected U.S. retail sales report on Thursday. Traders expect the report will highlight a possible timing of the U.S. interest rate change.

Current situation

The gold partly recovered on Wednesday after Tuesday’s fall. The metal returned above 1316 and stopped at 1323 dollar per once. The pressure on the gold persists. The price is below the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are neutral. The resistance is at 1330, the support comes in at 1316 dollar per ounce.

MACD is in the negative territory. RSI turned south and remained within negative territory.

Trading recommendations

If the pressure persists a strong breakdown and close below 1316 could send prices lower towards 1310. Alternatively, the price will grow towards 1330.



Brent

General overview

Brent decreased on expectations of U.S. oil inventories figures growth.

Current situation

After a brief consolidation during the Asian hours on Wednesday the price got under intense selling pressure and dropped to 46.50. The price broke the bullish 200-EMA and advanced away from it. The 100-EMA is still moving upwards, the 50-EMA is turning down. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

MACD remained within the negative area which confirms the strength of sellers. RSI is approaching the oversold area.

Trading recommendations

The overall outlook remains bearish, for a decline towards the 45.30 support area.



DAX

General overview

European stocks traded in green figures after 4-day decline as investors preferred safe assets ahead of the Fed’s meeting next week.

Current situation

DAX traded flat after a recent decrease. Investors consolidated their gains, awaiting for new drivers. The index went back and forth between 10350 and 10450. The instrument bounced from the 200-EMA in the 4 hours chart. The 200-EMA is moving upwards, the 50 and 100 EMAs direction is downwards. The resistance is seen at 10520, the support lies at 10350.

The indicators remained within negative territory. MACD decreased which confirms the strength of sellers. RSI is consolidating above the oversold territory.

Trading recommendations

As DAX is under pressure we feel comfortable taking short-term short positions. The price is struggling with 10350 now. If sellers break the level they will lead the price 10230.



S&P500

General overview

Wall Street opened lower on Wednesday as oil prices decrease and uncertainty over the Fed rate hike weigh on stocks.

Current situation

The index got under selling pressure after recovery during the Asian hours. The price continued to advance south. Sellers are struggling with 2130 to go lower. However, the price gets under buying pressure on any down-move towards 2120. The S&P500 traded below the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages direction is downwards. The resistance is seen at 2140, the support is at 2130.

The indicators stalled within the negative territory.

Trading recommendations

A break below 2130 would open the way to 2120. A close above 2140 will strengthen buyers' positions. Buyers will lead the price towards 2150.



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

[ValdisFFS]

"Fort Financial Services"- fundamental and technical analysis.

16.09.2016

Euro

General overview

A weak retail sales report slightly softened the U.S. dollar. However, the growth of the euro was limited by the weak statistics in the EU. The USA published Initial Jobless Claims report which came in better than expected.

Current situation

The pair remained in the middle of the consolidation range. The EUR/USD went back and forth during the course of the session on Thursday. The support level 1.1200 together with the 50 and 100 EMAs provided a support for the instrument. The moving averages maintained a moderately bullish slope in the 4 hours chart. The resistance is seen at 1.1270, the support stands at 1.1200.

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

As the most probable scenario, we consider further moving downwards towards the level at 1.1200. After breaking the first target the price will advance towards 1.1130.



Pound

General overview

The pound got under selling pressure following the BoE’s decision to leave the rates unchanged. The regulator highlighted that he was ready to lower the rates again if the economy does not show any descent progress in the nearest future.

Current situation

The pound got under intense selling pressure when the BoE left unchanged its rates and policy. Sellers have the ball now. They are struggling for a control over the 1.3200 level. The price touched the 50, 100 and 200 EMAs in the 4 hours chart. The 50-EMA is pointing lower, the 100 and 200 Day EMAs are neutral. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD is negative. MACD decreased which indicates the sellers’ positions strengthening.
RSI is approaching the oversold territory

Trading recommendations

If the pressure persists the downward movement will be continued. In this potential scenario, the pair will break the level 1.3200 and advance towards 1.3100.



Yen

General overview

The yen slightly strengthened on the back of the weaker U.S. statistics. Besides, traders preferred safe assets ahead of the BoJ and the Fed’s meeting the next week.

Current situation

After a brief consolidation during the Asian session the price suffered a short lived downward movement. Sellers were able to push the price lower the level 102.50. The price found a descent support at the mark 102.00 where the daily moving averages stand. The moving averages 50, 100 and 200 are neutral. The price is still struggling with the moving averages to decline further. The resistance is at 102.50, the support comes in at 101.40.

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 the growth will be continued now. The first target is the level 102.50. However, we do not exclude the falls to 101.40.



USD/CAD

General Overview

The Canadian dollar is weaker against the U.S. dollar as oil price decreased, but the risk aversion is limited.

Current situation

The USA/CAD is in ascending channel, close to its upper boundary. After a brief test of the weekly highs near 1.3200 the price made an attempt to return below the tested level. Sellers seem to be struggling for the level 1.3200 now. The moving averages are below the price. The 50 EMA is crossing upward the 100 and 200 EMAs in the 4 hours chart. The moving averages direction is upwards. The resistance is at 1.3200, the support comes in at 1.3100.

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

Trading recommendations

The undertone is still positive. If the price overcomes the level 1.3200 the upward trajectory will be continued. If the level holds the instrument will sell-off towards 1.3100.



XAUUSD

General overview

Gold prices are under pressure, near the 2 week lows as investors will be focused on the upcoming U.S statistics to evaluate the possibilities of an eventual Fed rate-hike.

Current situation

The pair remained under pressure. Bears kept control over the market. Sellers were able to push the price lower the mark 1316 dollar per ounce. Gold futures remained below the 50, 100 and 200 EMAs which act as a resistance for the price. The 4 hours chart shows that the 50-EMA crossed the 100 and 200 EMAs downwards. The moving averages keep heading lower. The resistance is at 1316, the support comes in at 1300 dollar per ounce.

MACD remained at the same level which confirms the strength of sellers. RSI is approaching the oversold territory.

Trading recommendations

The XAU/USD pair will mostly depend on the US data. The break below 1316 suggests the further weakness of the metal. All eyes are right now at the level 1310. If the level holds the price may recover above 1316. Should the price overcome the mark and the downward trajectory will persist.



Brent

General overview

Brent prices tried to recover on Thursday; however, concerns over a global supply glut kept weighing on the price.

Current situation

In the medium term, the outlook is bearish. Oil prices failed to regain the 46.50 level. After a brief consolidation in the European session the price faced further downside pressure at the start of the North American session. The Brent is well below its moving averages, with the 50, 100 and 200 EMAs providing a strong resistance in the 47.50 region. The moving averages showed mixed dynamics. The 50 and 100 EMAs are heading south, the 200-EMA is pointing higher. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

MACD is within the negative area. RSI is consolidating within the oversold territory.

Trading recommendations

If the resistance at 46.50 will break, the price may grow that should send this market looking for the 47.50 level. To trigger additional downward movement the instrument needs to get below 45.30.



DAX

General overview

European stocks are under pressure the sixth session in a row.

Current situation

The index had a negative day on Thursday. The price stayed near weekly lows at 10350. Sellers are trying to break the level. However, all their attempts meet a strong resistance from the buyers' side. DAX traded below the 50, 100 and 200 EMAs in the 4 hours chart. The 50-EMA is crossing the 100-EMA in the mentioned timeframe. The 50 and 100 EMAs are pointing lower, the 200-EMA is trending north. The resistance is seen at 10520, the support lies at 10350.

The indicators slightly changed from Wednesday.

Trading recommendations

The tone is still negative in the market. If DAX breaks the current support the index might extend its decrease towards 10175. To grow the price needs to bounce from 10350.



NASDAQ

General overview

Wall Street slightly changed at the open on Thursday. Stocks are evaluating the weak U.S. statistics. NASDAQ was the only index which jumped at the start of the new trading session. The growth of Apple shares boosted the index upwards. Apple is up after its latest iPhone presentation.

Current situation

The index jumped to a weekly high on Thursday. The price got under buying pressure, buyers were able to push the price towards 4770. NASDAQ broke the level and is heading higher now. The instrument broke the bearish 50 and 100 EMAs and touched the neutral 200-EMA in the 4 hours chart. The resistance is seen at 4800, the support is at 4770.

Trading recommendations

We believe that this is essentially a “buy only” market at the moment. The NASDAQ index now seems to be heading towards its immediate resistance at 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.

19.09.2016

Euro

General overview

The dollar grew on the back of a better-than-expected U.S. consumer price index.

Current situation

The main currency pair left the flat after a strong consumer price index report. The euro got under intense selling pressure at the start of the North American session. Sellers pushed the price lower below 1.1200. The instrument headed towards the next support at 1.1130. The pair broke the moving averages down in the 4 hours chart. The moving averages (50, 100 and 200) are turning downwards. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD is within the negative territory now The RSI oscillator is heading south.

Trading recommendations

Should the pair consolidate below 1.1200 the EUR/USD will continue its downward movement. The level 1.1130 is the next sellers’ target.



Pound

General overview

The pound remained under pressure as the BoE left the door open for another rate cut to boost the economy if necessary.

Current situation

The GBP/USD remained in red figures on Friday. Bears maintained control over the market. The price gave up its recent gains, broke the level 1.3200, 1.3100 and touched 1.3000 at close of trade. The GBP/USD is under the 50, 100 and 200 EMAs in the 4 hours chart. The 50-EMA is heading lower, the 100 and 200 EMAs are turning downwards. The current resistance is seen at 1.3100, the support exists at 1.3000.

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

Trading recommendations

If the pair manages to make a breakout of the support 1.3000 the price will continue its downward trajectory. We do not exclude a correction towards 1.3100 – 1.3150 after a rapid decrease.



Yen

General overview

The dollar softened against the yen due to uncertain U.S. statistics which makes us doubt of a Fed rate-hike in September.

Current situation

The USD/JPY traded around the monthly pivot point on Friday. The tone is still negative in the market. Sellers were able to push the price lower on Friday. The session low was marked at 101.68. The price broke the 100 and 200 EMAs, but remained close to them after the break. The 4 hours chart presents that the moving averages are neutral. The resistance is at 102.50, the support comes in at 101.40.

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

The overall outlook remains bullish, for rise towards 102.50 resistance area. The second buyers’ target is the mark 103.00.



AUD/USD

General Overview

The Aussie eased against the dollar amid the risk aversion and crude oil prices decline. Moreover, a strong U.S. statistics weighed on the Australian dollar.

Current situation

The AUD/USD traded in a narrow range ahead of U.S. CPI report on Friday. The quotes moved lower after the report. The prices bounced off the 50-EMA in the 4 hours chart. The 50-EMA crossed the 100 and 200 EMAs downwards. All moving averages headed lower. The resistance is at 0.7500, the support comes in at 0.7460.

MACD remained in the negative area. MACD decreased which indicates the sellers’ positions strength. The RSI oscillator headed south.

Trading recommendations

We preserve our bearish outlook. The price may extend its recovery, however, the resistance 0.7540 is strong enough to stop buyers. A downtrend will start as soon, as the pair fixates below the level 0.7500. The level 0.7460 is the next sellers’ target.



XAUUSD

General overview

Gold prices remained under pressure due to the strong dollar and lack of clarity over the timing of next Fed rate-hike.

Current situation

The pair remained under pressure on Friday. The price left the consolidation range and advanced lower. The yellow metal headed towards the next support level at 1300. Gold futures trended below the 50, 100 and 200 EMAs which accelerated their declines. The 50, 100 and 200 EMAs kept heading lower. The resistance is at 1316, the support comes in at 1300 dollar per ounce.

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

Trading recommendations

If the pressure persists the price is expected to decline towards 1300.



Brent

General overview

Crude oil prices are under pressure again as Libyan and Nigerian exports are back in the game which reinforced supply glut concerns.

Current situation

Brent is now decisively trading below the 46.50 mark. Bears pushed the price lower and stopped a few pips above 45.30. The 50 and 100 EMAs kept heading lower, the 200-EMA preserved a bullish slope. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

MACD was in the negative area. MACD decreased which confirms the strength of sellers. RSI is approaching oversold area

Trading recommendations

The loss of the 45.30 level will point to a further period of downside to come. The level 44.30 will be the next sellers' target. If Brent does a bullish rebound the oil prices will grow towards 46.50 dollars per barrel.



DAX

General overview

European stocks traded lower as stocks doubted that the EU regulator had any tool to support the Eurozone economy. Besides, Mario Draghi stated that the ECB did not need any stimulus right now which disappointed investors.

Current situation

The index had a negative day again. The price gapped lower at the open on Friday. Sellers finally broke the level 10350 and dragged the price lower. The daily low was marked at 10250. DAX traded below the 50, 100 and 200 EMAs in the 4 hours chart. The 50-EMA crossed the 100-EMA in the mentioned timeframe. The 50 and 100 EMAs headed south, the 200-EMA is moving upwards. The resistance is seen at 10350, the support lies at 10175.

MACD remained in the negative area. RSI reached the oversold area

Trading recommendations

In the scenario where the sellers keep control the price will decrease towards 10175. A move above 10350 will return buyers in the game. Buyers will push the price towards 10520.



S&P500

General overview

Wall Street closed the week lower when decrease in Oil & Gas and Financials sectors weighed on the shares.

Current situation

The index enjoyed a mixed session through trade on Friday. The price decreased during the Asian and European sessions and recovered during the North American hours. S&P500 traded around 2140 the whole day. The price is well below the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs продолжили свое нисходящее движение. The resistance is seen at 2150, the support is at 2140.

MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI is neutral

Trading recommendations

A downtrend will start as soon, as the S&P500 drops below the support level 2140. A break above 2150 would open the way to 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.

20.09.2016

Euro

General overview

The dollar weakened and erased some of its gains which were recorded on Friday due to the positive U.S. statistics which revived hopes of a Fed rate-hike in September.

Current situation

The technical picture presents a slightly bearish tone. The main currency pair found a descent support around 1.1130. The price comes across a selling pressure on any up-move towards 1.1200. The 50-EMA is crossing the 100-EMA downwards in the 4 hours chart. The 50 and 100 EMAs are pointing lower, the 200-EMA is neutral. The resistance is seen at 1.1200, the support stands at 1.1130.

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

Trading recommendations

We believe the EUR/USD will remain neutral in the short term. The price will be confined to the tight range between 1.1130 and 1.1180.



Pound

General overview

The pound partly recovered amid a weak dollar. The risk appetite grew on the back of strong oil.

Current situation

The pound remains in red figures. The current recovery could be attributed to some profit taking from sellers following last week sharp decrease. The GBP/USD slightly grew above 1.3000 in the Asian session and erased some of its gains during the European hours. The session high was marked at 1.3075. The 50-EMA is crossing the 100 and 200 EMAs downwards. The moving averages are trending lower. The current resistance is seen at 1.3100, the support exists at 1.3000.

MACD is in the negative territory. MACD decreased which confirms the strength of sellers.
RSI remains oversold.

Trading recommendations

The GBP/USD is trading around 1.3000. A break below will allow a test of the mark 1.2960. We do not exclude a larger recovery towards 1.3100.



Yen

General overview

The dollar weakened against the yen ahead of the Fed and BoE’s meetings this Wednesday.

Current situation

The neutral phase that started last week is still intact. The price traded within a broad range between 101.40 and 102.50. The moving averages are neutral in the 4 hours chart. The resistance is at 102.50, the support comes in at 101.40.

MACD entered the negative area. MACD slightly decreased which confirms the strength of sellers. RSI is approaching oversold area.

Trading recommendations

We prefer to stay neutral for now. We believe the price will continue sideways trades ahead of the Fed meeting this Wednesday.



NZD/USD

General Overview

The NZD/USD pair strengthened due to the oil prices growth.

Current situation

The overall picture is neutral. The dollar weakness helped the pair to recover all of its losses. The price approached the resistance at 0.7320. The kiwi bounced from the 200-EMA and grew through the 50 and 100 EMAs in the 4 hours chart. The moving averages are neutral in the same chart. The resistance is at 0.7320, the support comes in at 0.7250.

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 heading towards the overbought territory.

Trading recommendations

We remain bullish in the short term. If the price breaks the level 0.7320 the kiwi will continue its upward trajectory towards 0.7350. If the level 0.7320 holds the NZD/USD pair will bounce back towards 0.7250.



XAUUSD

General overview

Gold prices recovered on Monday after a two-week decrease ahead if the Fed and BoJ’s meetings.

Current situation

Gold prices tried to regain the level 1316, but failed. The price bounced from the level and traded a few pips below it. The moving averages extended their decline. The resistance is at 1316, the support comes in at 1300 dollar per ounce.

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

Trading recommendations

The level 1316 and the 50-EMA limit gold further growth. An uptrend will start as soon, as the pair rises above this region. The 1325 level is the next buyers' target. If the pressure persists the XAU/USD will decline towards 1300.



Brent

General overview

Brent reversed its losses after last week sharp decrease, as investors are waiting for an informal major producers’ meeting later this month in Algeria.

Current situation

Buyers made an attempt to regain 46.50, but failed. The price snapped the level and retreated from the daily high. The price faced a downward pressure at the start of the North American session. The 50-EMA is pointing lower, the bearish 100-EMA is crossing the bullish 200-EMA downwards. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. RSI is approaching oversold area

Trading recommendations

A move below the support 45.30 would suggest a resumption of the downtrend. In this potential scenario, sellers will move the price towards 44.30. To trigger an additional upwards movement the price needs to break above 46.50.



DAX

General overview

European stocks traded higher at the start of the new week. The stocks partly recovered due to the financial and energy shares growth.

Current situation

The overall picture remains bearish. The price remained in the short-term downward channel.
DAX gapped higher on Monday. The price was confined to the tight range between 10330 and 10370. The 50-EMA crossed the 100-EMA downwards. The 200-EMA headed north, the 50 and 100 EMAs are turning downwards. The resistance is seen at 10350, the support lies at 10175.

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

Trading recommendations

All eyes are right now at the level 10350. A move above the level will strengthen buyers which will push the price towards 10450 and further towards 10520. A break below this mark risks a decline back towards 10250.



Nasdaq

General overview

Wall Street opened higher on Monday. Oil prices growth supported the North American stocks which will be keeping a close eye on the Fed meeting this Wednesday.

Current situation

The index was positive on Monday. The price was able to continue its growth, buyers pushed the price from 4800 to 4835. Nasdaq is above the moving averages which are neutral in the 4 hours chart. The resistance is seen at 4835, the support is at 4800.

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

Trading recommendations

The overall outlook remains bullish, for rise towards 4865 resistance area.



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