Forex Trading Expert Advisors (EA or automated trading system) and Custom Indicators (CI) for MetaTrader Platform.

"Fort Financial Services"- fundamental and technical analysis.

25.07.2016

Euro

General overview

The USA Manufacturing PMI was the main point of focus last Friday. The positive release supported the dollar.

Current situation

The tone is still negative in the market. The EUR/USD had a sharp drop below the support level of 1.1000. The new local low is at 1.0955. The resistance is seen at 1.1000, the support lies at 1.0900.

MACD is in the negative area. The histogram decreased which indicates the sellers’ strength. RSI returned to the oversold area, its signal line decreased that also indicates sellers’ strength.

The price bounced downwards from the bearish 50-EMA which still acts as a resistance in the 4 hours chart. The moving averages (50, 100 and 200) are moving downwards which is a sell signal.

The instrument almost reached the 200-EMA which rejected it downwards in the 1 hour chart. The pair broke the 50-EMA and the 100-EMA and moved downwards from them.

Trading recommendations

The bearish views are getting more popular now. The price is likely to go to the support level of 1.0900.



Pound

General overview

The pound fell on the back of weak economical releases which added concerns over the British economy outlook after the Brexit.

Current situation

The GBP/USD faced further downside pressure. According to the 4 hours chart the cable traded sideways. The sellers managed to lead the price from 1.3300 to 1.3100. The daily and weekly technical studies remain bearish. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD indicator decreased. 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 approaching the oversold territory which is a sell signal.

The instrument fell below the 50-EMA in the 4 hours chart. The 100 and 200 EMAs direction is downwards, the 50-EMA is horizontal.

Trading recommendations

If the price fixates below the support 1.3100, it may continue the downward trend in the short term. The potential target is 1.2900.



Yen

General overview

The yen weakened after Haruhiko Kuroda's speech (the BoJ governor). Haruhiko Kuroda denied speculations that Japan may be preparing "helicopter money" for economic stimulus.

Current situation

The short-term picture is quite mixed. The USD/JPY traded in a flat and went back and forth within a range 105.50 – 106.35. The resistance is at 107.00, the support comes in at 106.00.

MACD remained in the positive territory. MACD decreased which indicates the buyers’ positions weakening. RSI is in the neutral territory.

The instrument snapped the 100-EMA and bounced upwards above the 50-EMA in the 1 hour chart. The moving averages (50, 100 and 200) are turning downwards.

Trading recommendations

We may expect the consolidation around the level of 106.00.



USD/CAD

General overview

The Canadian economical growth will be supported by the government fiscal stimulus program. The program shall support the Canadian dollar. However, the low oil prices may limit its growth.

Current situation

The pair closed bullish on Friday. The USA dollar continued moving higher on the back of the positive USA statistics. The instrument was able to set a new local high at 1.3185. The resistance is at 1.3200, the support comes in at 1.3100.

MACD is in the positive area. MACD grew which indicates the buyers’ positions strengthening. Oscillator RSI is close to the overbought area which is a buy signal.

The 4 hours chart shows that the instrument is growing above the 50, 100 and 200 EMAs. The pair bounced upwards from the 50-EMA in the 1 hour chart. The moving averages (50, 100 and 200) are moving upwards.

Trading recommendations

From a technical perspective we see a growth continuation. As long as market holding above 1.3100 the uptrend pressure will continue toward 1.3200.



GOLD

General overview

The gold became cheapen last Friday. The metal is under pressure due to the possible rate hike in the USA.

Current situation

The instrument finished the day bearish. Its rally was stopped at the level 1330 which rejected the price downwards. The price remained in a sideway channel. The resistance is seen at 1330, the support stands at 1316.

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

The price broke the 50 and 100 EMAs downwards in the 4 hours chart. Now the price is below the 100-EMA. The 50 and 100 EMAs are moving downwards, the 200-EMA is neutral.

Trading recommendations

The price may continue the side trades between the levels 1330 and 1316. Alternatively, an uptrend will start as soon, as the pair rises above 1330.



Brent

General overview

The Brent is under pressure as investors are concerned over the existing oil oversupply in the world markets.

Current situation

Technically, the tone is still negative in the market. The Brent futures continued to grind lower and touched 45.30. The resistance is at 46.50, the support comes in at 45.30.

MACD indicator is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI approached the undervalued area which is a sell signal.

The moving averages (50, 100 and 200) are moving downwards in the 4 hours chart.

Trading recommendations

The tone is still negative in the market. To trigger additional downward momentum towards 44.00 the price needs to break the current support. A break above 46.50 would open the way to 47.50.



DAX

General overview

The Germany Bonds market showed mix dynamics last Friday. The shares of Vonovia SE were the leaders among the DAX30 components. Its shares gained 1.14%.

Current situation

The index closed bullish on Friday. The instrument spent the last day of the week below 10175. All its attempts to grow further were limited by the level. The resistance is at 10175, the support exists at 10000.

MACD decreased which indicates the buyers’ positions weakening. RSI is close to the overbought area which is a buy signal for now.

The bullish 50-EMA broke the 100 and 200 EMAs upwards in the 4 hours chart. The moving averages (50, 100 and 200) are moving upwards.

Trading recommendations

We believe the index will trade sideways on Monday. The instrument might move back and forth in a narrow side range between 10080 and 10175.



S&P 500

General overview

The S&P 500 index is strong due to the positive corporative earnings reports. However, Intel and GE negative reports worsened its positive dynamics.

Current situation

The index refreshed the all-time high at 2170. The instrument closed the Friday in a green territory. The overall tone is bullish. The resistance is seen at 2180, the support is at 2165.

MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI is close to the overvalued territory which is a buy signal.

The price bounced from the bullish 50-EMA in the 4 hours chart. The moving averages (50, 100 and 200) direction is upwards.

Trading recommendations

Technically, a bullish tone persists in the market. All our eyes are on the level 2170. If the index SP500 manages to break it the further uptrend will be continued to 2180.





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

 

"Fort Financial Services"- fundamental and technical analysis.

26.07.2016

Euro

General overview

The euro remained almost unchanged on Monday. The single currency is close to the monthly lows against the dollar in spite of the positive German statistics. The USA dollar is supported by the upcoming Fed meeting.

Current situation

We remain bearish on EUR/USD’s prospects. The euro began the week with small gains, however, it failed to regain the 1.1000 level and fell from the daily highs. The EUR/USD has been in a bearish trend for 3 weeks on the daily chart. The 4 hours chart is neutral. The resistance is seen at 1.1000, the support stands at 1.0900.

MACD is in the negative area. The histogram decreased which indicates the sellers’ strength. RSI returned to the oversold area, its signal line decreased that also indicates sellers’ strength.

The trading instrument made an attempt to break the 50-EMA in the 1 hour chart, but failed and was rejected downwards. The price is below the bearish 50-EMA in the 4 hours chart. The moving averages (50, 100 and 200) are moving downwards which is a sell signal.

Trading recommendations

The euro continued moving lower yesterday. We expect a near-term drop to test the 1.0900 support.



Pound

General overview

The USA dollar remained unchanged due to the moderate risk appetite. The optimistic USA statistics together with weakness of the pound supported the dollar.

Current situation

The GBP remained unchanged at the start of the new week. The pound is still under pressure. The currency tested the lower bound of its descending channel yesterday. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD is in the negative territory, the indicator is close to the centerline. If the histogram remains in the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will have the ball. RSI is approaching the oversold territory which is a sell signal.

The instrument remained below the 50-EMA in the 4 hours chart. The 100 and 200 EMAs direction is downwards, the 50-EMA is horizontal.

Trading recommendations

In the potential scenario, the next stop for the GBP/USD could well be around 1.2900. If the price fixates above the resistance 1.3300, it may show a short term upward movement to 1.3500.



Yen

General overview

The USA dollar and the Japanese yen were stable on the Monday’s trades. Investors prefer wait and see position before the Fed and BoJ’s meetings.

Current situation

The yen was almost unchanged in the Monday session; however, the bearish views are getting more popular. The pair remained at the current support at 106.00. The resistance is at 107.00, the support comes in at 106.00.

MACD remained in the positive territory. MACD decreased which indicates the buyers’ positions weakening. RSI is in the neutral territory.

The instrument broke the 50-EMA and stopped at the 100-EMA in the 1 hour chart. The moving averages (50, 100 and 200) are still heading north. The USD/JPY is above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages direction is upwards.

Trading recommendations

Buyers seem to have run out of steam. Bears may take control of the flows soon. A downtrend will start as soon, as the USD/JPY pair drops below the support level 105.30. In the scenario where the buyers keep control the pair may grow to 107.00 and then further to 108.00.



AUD/USD

General overview

The dollar was neutral, the US currency remained at the 4 month peaks against the other majors. The upcoming Fed meeting and the possibility of the rate hike in 2016 support the dollar.

Current situation

The pair AUD/USD traded inside its descending channel. The AUD started the week with a recovery and was able to grow by the psychologically important 0.7500 mark. However, the pair failed to regain the level and fell. The session low was marked at 0.7454. The resistance is at 0.7500, the support comes in at 0.7400.

MACD is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. Oscillator RSI is close to the overbought area which is a buy signal.

The price rebounded from the 100-EMA and stopped at the 200-EMA in the 4 hours chart. The 50-EMA is breaking the 100-EMA at the same chart, both lines are moving downwards.

Trading recommendations

The potential decrease target is the support level of 0.7400.



GOLD

General overview

The gold futures decreased on Monday. The yellow metal is close to the 3-week lows. The dollar is supported by the upcoming Fed meeting.

Current situation

The overall outlook remained the same. The XAU/USD is still under pressure. However, the gold managed to recover yesterday and gained about 0.30% during the day. The resistance is seen at 1330, the support stands at 1316.

MACD is in the negative area. The histogram decreased which indicates the sellers’ positions strengthening. Indicator RSI is in the neutral area.

The price broke the 50 and 100 EMAs downwards in the 4 hours chart. Now the price is in-between the 100-EMA and the 200-EMA. The 50 and 100 EMAs are moving downwards, the 200-EMA is neutral.

Trading recommendations

Technically, a bearish tone persists in the market. If the XAU/USD does make a breakout at that level 1310 the yellow metal will decrease to 1300.



Brent

General overview

The Brent decreased and refreshed the 2-month lows on the back of the cautions regarding the oil oversupply in the market.

Current situation

The Brent traded lower yesterday. The crude oil futures lost about 2.00% during the trades of the day. Sellers led the price from the mark 45.85 to 44.52. The resistance is at 45.30, the support comes in at 44.00.

MACD indicator is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI approached the undervalued area which is a sell signal.

The moving averages (50, 100 and 200) are moving downwards in the 4 hours chart.

Trading recommendations

After the support level of 44.00 breakthrough down the way to the support 42.80 will be opened.



NASDAQ

General overview

The USA Bonds market decreased on Monday. Investors are getting ready for the new earning reports and the Fed meeting.

Current situation

The index was neutral on Monday. NASDAQ spent the day at the current support level 4650. The resistance is at 4700, the support stands at 4650.

MACD decreased which indicates the buyers’ positions weakening. RSI bounced from to the overbought area which is a sell signal.

The index failed to regain the 50-EMA and stopped at it in the 1 hour chart. The 50-EMA is horizontal, the 100 and 200 EMAs are moving upwards.

Trading recommendations

If the price fixates below the support 4650, it may continue the downward trend in the short term. The potential target is 4600.



S&P 500

General overview

All ten of S&P500 components went into the red territory. The energy companies were the leaders of the decrease.

Current situation

The tone became negative in the market. Bears are gradually gaining more overall control. The index decreased and lost about 0.36% by the end of the trades. The resistance is seen at 2165, the support is at 2150.

MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI left the overvalued territory which is a sell signal.

The index broke downwards the 50, 100 and 200 EMAs in the 1 hours chart. After the break the instrument reversed some losses and returned to the 200-EMA. The moving averages are turning down.

The price fell and stopped at the 50-EMA in the 4 hours chart. The moving averages (50, 100 and 200) direction is still upwards.

Trading recommendations

We expect the 2150 line break that will open the way for the sellers to 2140.




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

 

"Fort Financial Services"- fundamental and technical analysis.

27.07.2016

Euro

General overview

The dollar reversed its losses against the majors getting support from positive New Home Sales release.

Current situation

The euro continued moving lower and remained inside the bearish channel. The session low was marked at 1.0977. Now the EUR/USD is approaching the local support level of 1.0950. The resistance is seen at 1.1000, the support stands at 1.0900.

MACD is in the negative area. The histogram decreased which indicates the sellers’ strength. RSI is neutral.

The trading instrument broke the 50 and 100 Day EMAs and was rejected downwards by the 200-EMA in the 1 hour chart. The price returned below the 100-EMA and remained there. Now the price is sandwiched between the 50 and 100 Day EMAs in the 1 hour chart. The Moving Averages are trending downwards which is a sell signal.

Trading recommendations

As long as market is below 1.1000 the pair will tend to move towards 1.0900.



Pound

General overview

The pound got under pressure due to the revived expectations that the BoE would lower the rate in August.

Current situation

The pound was neutral yesterday. The trading instrument remained at the support 1.3100, going back and forth during the course of the day. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD is in the negative territory, the indicator is close to the centerline. If the histogram remains in the negative territory, that will indicate sellers’ strength. If MACD returns into the positive area the buyers will have the ball. RSI is neutral.

The 50, 100 and 200 Day EMAs are trending downwards, forming a bearish cross over in the 1 hour chart. The instrument remained below the 50-EMA in the 4 hours chart. The 100 and 200 EMAs direction is downwards, the 50-EMA is horizontal.

Trading recommendations

In the event that sellers manage to force the pair below 1.3100 the GBP/USD will decrease towards 1.2900. Alternatively, the Sterling will grow to 1.3300.



Yen

General overview

The yen grew when Japanese monetary and fiscal easing plans disappointed investors’ expectations. The BoJ will use 6 trillion yen for the fiscal stimulus against the expected 10 to 20 trillion yen.

Current situation

Bears have the ball now. Traders pushed the dollar lower from 3-week highs yesterday. The instrument lost about 1% during the course of the day. The resistance is at 105.30, the support comes in at 104.50.

MACD moved into the negative territory which indicates the sellers’ positions strengthening. RSI reached the oversold area which is another sell signal.

The instrument broke the 50, 100 and 200 Day-EMAs in the 4 hours chart. The moving averages (50, 100 and 200) are changing their upwards direction to the downward one.

Trading recommendations

The bearish views are getting more popular, moreover, the indicators recommend short positions. The price is expected to resume its falling towards 103.50.



NZD/USD

General overview

The New Zealand dollar grew on the news that Trade Balance decreased in the country in June.

Current situation

The pair gapped upwards and rallied towards the resistance at 0.7050. After breaking the level the bullish spike faded and the NZD/USD dropped back below the level 0.7050. Bears are gradually gaining more overall control. The resistance is at 0.7050, the support comes in at 0.6950.

MACD indicator is at the centerline. If the histogram returns into the negative territory, that will indicate sellers’ growing strength. If MACD gets into the positive area the buyers will take control over the market. Oscillator RSI bounced downwards from the overbought area which is a sell signal.

The NZD was able to break the 50, 100 and 200 Day EMAS in the 4 hours chart. However, the quotes did not advance further and the 100-EMA rejected the pair downwards. The moving averages are moving downwards with a bearish cross over between the 50-EMA and the 100 and 200 EMAs.

Trading recommendations

Technically, a bearish tone persists in the market. We believe the downtrend will continue. The next sellers' stop could well be at the mark 0.6980.



GOLD

General overview

The gold decreased as traders prefer wait and see mode before the Fed’s meeting is over.

Current situation

The overall outlook remained bearish. The XAU/USD was in a flat, the price moved back and forth within a sideway: 1323 – 1314. The resistance is seen at 1330, the support stands at 1316.

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

Technically, the 1 hour chart shows that the instrument grew and broke through the 50 and 100 EMAs, but failed to move further the 200-EMA where the price bounced downwards. The 50, 100 and 200 Day EMAs are moving downwards.

Trading recommendations

We believe the growth will be continued now. The first target is the level 1330. We do not exclude the falls to 1310.



Brent

General overview

The Brent decreased as traders are worried that ongoing oversupply will drag the price lower.

Current situation

Sellers took control of the flows, the Brent closed bearish yesterday. The sellers managed to lead the quotes from 44.90 to 44.15 dollars per barrel where the trading instrument found a support around 44.00. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

Indicators generate a sell signal. MACD indicator is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI approached the undervalued area which is another sell signal.

The moving averages (50, 100 and 200) are trending downwards in the 4 hours chart.

Trading recommendations

The upward bounce potential targets are 45.30, 46.50. If the price falls it will get to 44.00 dollars per barrel.



DAX

General overview

The European Bonds Market showed low volatile trades. Traders waited for the Fed's meeting result which can change the current market dynamics.

Current situation

The index had a positive day on Thursday. The DAX gapped upwards and then rallied. The session high was marked at 10269. We believe that this is essentially a “buy only” market at the moment. The resistance is at 10350, the support stands at 10175.

The indicators recommend long positions. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is close to the overbought area which is a buy signal.

The index bounced from the 50-EMA and grew in the 1 hour chart. The 50, 100 and 200 EMAs are moving upwards in the 1 hour chart.

Trading recommendations

If the price fixates above the resistance 10350, it may continue the upward trend in the short term. The potential target is 10520. The potential downward rebound target is the support level of 10175.



S&P 500

General overview

The Bonds Markets in the USA showed a mixed trading sentiment on Thursday. Investors evaluated corporate earning reports and prepared themselves for the Fed's meeting results.

Current situation

The index seems to have changed its sentiment from a positive to a negative one. Bears are gradually gaining more control, the quotes get under pressure more often. The resistance is seen at 2165, the support is at 2150.

MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI left the overvalued territory which is a sell signal. RSI is in the neutral territory now.

The trading instrument got under the 50 and 100 EMAs in the 1 hour chart. The price is sandwiched between the 50 and 100 EMAs on one hand and the 200-EMA on the other. The S&P500 is at the 50-EMA in the 4 hours chart. The moving averages direction is upwards.

Trading recommendations

After the support level of 2150 breakthrough down the way to the support 2140 will be opened.



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

 

"Fort Financial Services"- fundamental and technical analysis.

28.07.2016

Euro

General overview

The dollar attracted everyone’s attention yesterday in light of the Fed meeting. The USA regulator left its rate unchanged.

Current situation

The pair presented a modest bearish tone during the day. The trading instrument spent the day at the level 1.1000. However, the pair grew after the Fed meeting results announcement. The resistance is seen at 1.1030, the support stands at 1.1050.

MACD indicator is close to 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 return control over the market. RSI grew to the overbought level.

The 1 hour chart showed that the price broke the 50, 100 and 200 EMAs. The 50, 100 and 200 EMAs are turning upwards.

Trading recommendations

The overall outlook remains bearish. However, the pair resumed its growth. If the EUR/USD keeps growing the level 1.1130 will be reached soon.



Pound

General overview

The pound decreased on Wednesday in spite of positive GDP for the 2nd quarter. However, the British currency got a moderate support at the American session on the back of the news from the USA.

Current situation

The pound was neutral most of Wednesday. The trading instrument remained at the support 1.3100, going back and forth during the course of the day. The pound got a moderate support after the Fed decision to leave the rates unchanged. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD is in the negative territory, the indicator is close to the centerline. If the histogram remains in the negative territory, that will indicate sellers’ strength. If MACD returns into the positive area the buyers will have the ball. RSI is neutral.

The 50, 100 and 200 Day EMAs are trending downwards, forming a bearish cross over in the 1 hour chart. The instrument broke the 50, 100 and 200 Day EMAs and advanced north in the 1 hour chart.

Trading recommendations

The trend is objectively bearish. The pair is under the risk of falling under the level of 1.3100. Alternatively, the GBP/USD will grow to 1.3300.



Yen

General overview

The yen fell amid stimulus package details. BoJ plans to implement a package of 28 trillion yen to boost the economy up.

Current situation

The dollar reversed some of its losses during the Wednesday trades. Buyers led the price from the mark 103.94 to 106.56. The bulls failed to regain the 106.00 level and the price returned below of it. The pair closed bearish yesterday. The resistance is at 105.30, the support comes in at 104.50.

MACD remained in the negative territory. MACD grew which indicates the sellers’ positions weakening. RSI returned to the oversold area which is a sell signal.

The instrument tested the 50-EMA in the 4 hours chart. The moving averages (50, 100 and 200) are changing their upward direction to the downward one.

Trading recommendations

The tone is still negative in the market. The USD/JPY pair needs to break the level 104.50 to resume a downward momentum towards 103.50.



USD/CAD

General overview

The USD/CAD outlook was neutral during the day as the pair waited for the Fed policy statements. In addition, lower oil prices weighed on the CAD.

Current situation

The instrument traded near 4-month highs during the day. The pair made an attempt to resume its growth after a correctional decline. The instrument grew from 1.3156 and gained about 0.18% by the end of the day. However, the Fed decision to leave the rates unchanged weighed on the Canadian dollar which fell against its American counterpart. The resistance is at 1.3300, the support comes in at 1.3200.

MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. Oscillator RSI bounced downwards from the overbought area which is a sell signal.

Technically, the 1 hour chart showed that the pair traded close to the 50-EMA during the day. However, the price broke the line and decreased on the back of the Fed decision. The 50, 100 and 200 EMAs are moving upwards in the 1 hour chart.

Trading recommendations

Even though the tone is still positive the pair may develop a downward correction towards the support 1.3100.



GOLD

General overview

The gold strengthened when the dollar got under pressure in the USD/JPY after Abe Sindzó’s comments regarding the fiscal stimulus implementation next week. The Fed decision regarding the rates and the regulators’ comments supported the yellow metal by the end of the day.

Current situation

Technically, the main trend is up. Traders pushed the gold higher yesterday; the session high was marked at 1340. The resistance is seen at 1360, the support stands at 1330.

MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ positions strength. If MACD returns into the negative area the sellers will take control over the market. Indicator RSI grew to the overbought area.

Technically, the 1 hour chart shows that the instrument grew and broke through the 50, 100 and 200 EMAs. The 50, 100 and 200 Day EMAs are turning upwards.

Trading recommendations

We believe the gold will grow towards the resistance 1360.



Brent

General overview

The Brent remained under pressure amid oversupply and weak demand. Moreover, the Brent decreased on the back of the crude oil inventories growth. The inventories have grown the first time in 10 weeks.

Current situation

Bears have the ball and control the market now. The instrument had a sharp drop below the support level of 44.00. The Brent lost about 2.95% during the course of the day. The resistance is at 44.00, the support comes in at 42.80 dollars per barrel.

Indicators generate a sell signal. MACD indicator is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI approached the undervalued area which is another sell signal.

The price grew to the 50-EMA and bounced downwards from it in the 1 hour chart. The moving averages (50, 100 and 200) are trending downwards in the 4 hours chart.

Trading recommendations

The more oil falls the more attractive it becomes for buying. The price may extend its decrease towards the 42.00 region.



NASDAQ

General overview

The Bonds Market in the USA showed mixed dynamics on the back of the positive corporative Apple reports on the one hand and Fed meeting results on the other.

Current situation

The index looks bullish. The Nasdaq grew and set a new high at 4713. The resistance is at 4700, the support stands at 4650.

The indicators recommend long positions. MACD is in the positive area. The histogram grew which indicates the buyers’ positions strength. RSI entered the overbought area which is a buy signal.

The 50, 100 and 200 EMAs are moving upwards in the 4 hours chart.

Trading recommendations

The overall outlook remained bullish. Nasdaq may resume its growth as the Fed left its rate unchanged which is welcome news for the dollar.



S&P 500

Current situation

The index seems to have returned to the positive sentiment. The index was falling the whole day, but reversed after the Fed statements. The index grew from the lowest mark at 2152 and closed the day at 2165. The resistance is seen at 2165, the support is at 2150.

MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI left the overvalued territory which is a sell signal. RSI is in the neutral territory now.

The trading instrument broke under the 50 and 100 EMAs for a while and returned above the moving averages in the 1 hour chart. The S&P500 broke the 50-EMA in the 4 hours chart. The moving averages direction is upwards.

Trading recommendations

We expect the index to resume its growth. The level 2182 is the buyers’ target.




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

 

"Fort Financial Services"- fundamental and technical analysis.

29.07.2016

Euro

General overview

The euro grew to the 2-week highs against the dollar on the back of positive statistics from Germany and Italy. The Fed decision keeps weighing on the dollar.

Current situation

The pair presented a modest bearish tone. The instrument grew to the 1.1130 region where the pair sold off. The EUR/USD closed bearish yesterday. The resistance is seen at 1.1130, the support stands at 1.1050.

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

The price broke upwards the 50, 100 and 200 EMAs in the 4 hours chart. However, the EUR/USD was not able to hold there and returned below the 200-EMA.

Trading recommendations

The EUR/USD pair is under pressure. If the pressure persists the price will resume the downward movement. In the scenario where sellers return to the market the euro falls to 1.1000.



Pound

General overview

The dollar is under pressure after the weak Initial Jobless Claims report and the Fed decision to keep the rate unchanged.

Current situation

The growth was stopped at the mark 1.3247 where the pair reversed downwards and showed a negative dynamics. The instrument closed the day in the red zone. The current resistance is seen at 1.3300, the support exists at 1.3100.

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 still neutral.

The price showed a short-lived growth above the 50 and 100 EMAs. After reaching the mark 1.3242 the pair fall and returned between the 50 and 100 Day EMAs.

Trading recommendations

The trend is still bearish. The GBP/USD next stop could well be at the 1.2900 region.



Yen

General overview

The yen strengthened against the dollar before the BoJ meeting on Friday. The market expected the regulator will soften its policy.

Current situation

The pair was in a flat close to the level 104.50 during the day. The price resumed its growth at the American session and reached the level 105.30. The resistance is at 105.30, the support comes in at 104.50.

The indicators MACD and RSI still generate sell signal.

The instrument grew from the 100-EMA in the 4 hours chart. The price broke the 50 and 200 EMAs on its way. The USD/JPY closed the day above the moving averages which are neutral.

Trading recommendations

We believe the growth will be continued now. The first target is the level 105.30. We do not exclude the falls to 103.50.



AUD/USD

General overview

The dollar is under pressure after the Fed decision to keep the rate unchanged. The markets did not get a solid confirmation that the regulator will change the rate in September.

Current situation

The instrument decreased from the daily high at 0.7550. The pair tested the level 0.7500 and closed the day bearish. The resistance is at 0.7600, the support comes in at 0.7500.

MACD decreased which indicates the buyers’ positions weakening. RSI advanced south from the overbought area which is a sell signal.

Technically, the price is approaching the 50 and 100 Day EMAs in the 4 hour chart. The moving averages 50, 100 and 200 are neutral.

Trading recommendations

If the pair makes a breakout of 0.7500 and consolidates below the downward trend will be continued. The sellers’ next target is the support 0.7400.



GOLD

General overview

The gold strengthened when the markets did not get any clue when the Fed will hike the rate.

Current situation

The gold spent the day in a flat close to the daily highs at 1345. The pair resumed its fall at the American session where the price decreased to the 1330 region. The resistance is seen at 1360, the support stands at 1330.

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

Technically, the instrument is above the 50, 100 and 200 EMAs in the 4 hours chart. The 50, 100 and 200 Day EMAs are turning upwards.

Trading recommendations

To trigger additional upward momentum the XAU/USD needs to consolidate over the local high at 1345. In this scenario the buyers shall lead the price towards 1360.



Brent

General overview

The Brent failed to recover and resumed its decrease amid growing fears regarding the oversupply growth.

Current situation

The tone is still negative in the market, the Brent futures faced further downside pressure. The price decreased and lost about 1.53% during the course of the day. The resistance is at 44.00, the support comes in at 42.80 dollars per barrel.

Indicators generate a sell signal. MACD decreased which indicates the sellers’ positions strengthening. RSI is in the oversold area which is a sell signal.

The price was moving from the 50, 100 and 200 EMAs the 4 hours chart. The moving averages (50, 100 and 200) are trending downwards.

Trading recommendations

Sellers still control the market. We expect the price to fall further towards 41.40.



DAX30

General overview

The DAX showed mixed trading dynamics as investors evaluated the corporate reports for the last quarter.

Current situation

The overall outlook remained bullish, the DAX resumed its growth after a short consolidation below 10350. The resistance is at 10350, the support stands at 10175.

The indicators recommend long positions. MACD is in the positive area. The histogram grew which indicates the buyers’ positions strength. RSI entered the overbought area which is a buy signal.

The 50, 100 and 200 EMAs are moving upwards in the 4 hours chart.

Trading recommendations

We are short term bullish. A break above the current resistance at 10350 will aim the price at the 10520 level.



S&P 500

General overview

The S&P500 fell on Thursday on the back of Ford shares decrease. The Ford shares fell amid the weak corporate report.

Current situation

The index showed mixed dynamics. S&P500 was decreasing the first part of the day and grew the second one. The trading instrument closed the day bullish. The resistance is seen at 2165, the support is at 2150.

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.

The trading instrument broke under the 50, 100 and 200 EMAs for a while and returned above the moving averages in the 1 hour chart. The moving averages form a narrow channel.

Trading recommendations

The upward bounce potential targets are 2165 and 2180. If the price falls it will get to 2150.





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

 

"Fort Financial Services"- fundamental and technical analysis.

01.08.2016


Euro

General overview

The euro strengthened against the dollar after better-than-expected Eurozone GDP data. The Fed hawkish announcements without any clues over the date of a possible rate hike weighed the dollar as well.

Current situation

The pair had a positive day on Friday. The instrument jumped to its highest mark and set a new 5-week high around the 1.1200 level. The euro gained about 0.80% during the course of the day. The resistance is seen at 1.1200, the support stands at 1.1130.

According to the indicators bulls have the ball now. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI entered the overbought level.

The 4 hours chart shows that the price broke the 200-EMA which was its last obstacle on its way up. Now the price is heading higher in the 1.1200 region.

Trading recommendations

The market looks like it could pull back a little. The price might return to the 1.1100 region (200-EMA ) where we recommend to buy. In this scenario, the levels 1.1130 and 1.1200 are the possible targets.



Pound

General overview

The pound grew on the back of the positive data. The Fed decision over the rate hike together with worse-than-expected Q2 GDP data pressured the dollar.

Current situation

The pound rallied to a fresh 11-day high when the dollar was hurt by a worse than expected US GDP. The trading instrument gained more than 130 pips and set a new high at the mark 1.3300. This is the highest level since July 18th. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is heading to the overbought territory which is a buy signal.

The price broke the 100-EMA and stayed over it in the 4 hours chart. The moving averages lines with periods 50, 100 and 200 are trending downwards.

Trading recommendations

The GBP/USD has all chances to grow on the back of a weak dollar. The level 1.3300 is the first buyers’ target.



Yen

General overview

The yen strengthened when the BoJ increased its purchases of ETFs (exchange-traded funds). However, the BoJ’s statements disappointed investors who expected bolder measures from the regulator.

Current situation

The yen took control of the flows. The pair decreased and set the lowest level since July 11th. The resistance is at 103.50, the support comes in at 102.50.

The indicators MACD and RSI still generate sell signal. MACD decreased which indicates the sellers’ strength. RSI entered the oversold area.

The instrument broke the 50, 100 and 200 Day EMAs downwards in the 4 hours chart. The moving averages lines are turning downwards.

Trading recommendations

All eyes are right now at the support level 101.40. Should the instrument break the level and the downward movement will be extended.



NZD/USD

General overview

The dollar weakened after worse-than-expected Q2 GDP data. The kiwi grew after positive building permits report.

Current situation

A rebound from the level 0.6950 allowed the instrument to form a bullish channel. The pair climbed to the fresh weekly high on Friday. The session high was marked at 0.7213. The resistance is at 0.7250, the support comes in at 0.7150.

Technical indicators are giving buy signals. MACD is still positive. The histogram grew which indicates the buyers’ strength. RSI entered the positive territory.

Technically, the price is trending upwards from the 50, 100 and 200 EMAs in the 4 hour chart. The moving averages are turning upwards.

Trading recommendations

The price may roll back to 0.7150 where it will turn upwards. In this potential scenario, the next stop for the NZD/USD could well be around 0.7250.



GOLD

General overview

The traders preferred buying the gold on Friday after the disappointed Fed’s decision to keep the rates unchanged. The Bank of Japan disappointed traders as well as the markets expected bolder actions from the regulator.

Current situation

Daily and weekly technical studies remain bullish. The pair had a positive day on Friday. Bulls are gradually gaining more control over the market. The buyers managed to lead the price from the support 1330 to the mark 1350. The resistance is seen at 1360, the support stands at 1330.

Indicators generated a buy signal. MACD is in the positive area. The histogram grew which indicates the buyers’ growing strength. Indicator RSI approached the overbought area.

Technically, the instrument is above the 50, 100 and 200 EMAs in the 4 hours chart. The price was growing from the moving averages. The 50-EMA is crossing the 100-EMA upwards. The 50, 100 and 200 Day EMAs are moving upwards.

Trading recommendations

The overall outlook remains bullish, for a rise towards 1360 resistance area.



Brent

General overview

The Brent fell to the April lows on Friday over the concerns regarding the world economy growth slow down.

Current situation

The Brent retreated from the oversold territory. The current rebound above 42.80 should be considered corrective. The instrument grew by 0.50% during the trades on Friday. The resistance is at 44.00, the support comes in at 42.80 dollars per barrel.

Indicators still generate a sell signal. However, MACD grew which indicates the sellers’ positions weakening. RSI left the oversold area.

The price grew and broke the 50-EMA upwards in the 1 hour chart. After the break the price remained at the 50-EMA. The 50, 100 and 200 Day EMAs are moving downwards.

Trading recommendations

All eyes are right now at the support level 42.80. Should that level break down and the price will decrease further to 41.40.



NASDAQ

General overview

The USA Bonds market started the last trading day in the red zone. The indices decreased after the disappointed GDP data in the USA.

Current situation

The overall outlook remained bullish. The index traded close to its highs at 4737. The price consolidated during the day. The NASDAQ closed the day bearish. The resistance is at 4800, the support stands at 4700.

The indicators recommend long positions. MACD is in the positive area. The histogram decreased which indicates the buyers’ positions weakening. RSI left the overbought area.

The 50, 100 and 200 EMAs are moving upwards in the 4 hours chart.

Trading recommendations

We do not exclude a correction. The potential sell targets are the two levels of support: 4700 and 4650.



S&P 500

General overview

The USA Bonds Market slowed down. The weak oil, concerns over the world economy after the Brexit, the BoJ's disappointed decision weighed the S&P500 index.

Current situation

The index showed mixed dynamics. The price remained close to its all-time high. The resistance is seen at 2180, the support is at 2165.

MACD indicator is at the centerline. RSI is neutral.

The trading instrument broke under the 50, 100 and 200 EMAs for a while and returned above the moving averages in the 1 hour chart. The moving averages formed a narrow channel. All lines are moving upwards.

Trading recommendations

We believe the consolidation between the levels of 2180 and 2165 will be continued now.





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

 

"Fort Financial Services"- fundamental and technical analysis.

03.08.2016

Euro

General overview
Personal Incomes came in at 0.2% which did not coincide with the forecasts. Personal Spending showed 0.4% which met the traders’ expectations. The dollar remained under pressure across the board.

Current situation

The short term technical outlook is positive. The EUR/USD pair reached fresh post-Brexit highs. The instrument traded at the top of its ascending channel on Tuesday. The resistance is seen at 1.1270, the support stands at 1.1200.

The indicators remained within the positive territory. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is in the overvalued area.

In the 4 hours chart, the instrument is heading higher above the 50, 100 and 200 Day EMAs. The moving averages are turning upwards. The 50-EMA is crossing the 100-EMA upwards and approaching the 200- EMA. The moving averages generate a buy signal.

Trading recommendations

The pair now seems to be heading towards its immediate resistance near 1.1270. We recommend buying on pullbacks



Pound

General overview

The positive Construction PMI boosted the pair upwards fueling its upward momentum. The concerns over the Fed’s rate hike together with the weak USA statistics weighed on the dollar.

Current situation

The pound strengthened on the dollar's weakness on Tuesday. The Sterling grew and left behind the side channel. The GBP/USD pair set a fresh high at 1.3356. The current resistance is seen at 1.3500, the support exists at 1.3300.

MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is approaching the oversold territory. The indicators generate a buy signal.

The price left the 50 and 100 Day EMAs behind and is approaching the 200-EMA in the 4 hours chart.
The 50, 100 and 200 EMAs are neutral. The moving averages are still neutral and do not generate any signal.

Trading recommendations

The pair had a positive day on Tuesday and it has all chances to have the same one on Wednesday. We feel comfortable taking short-term long positions. The instrument seems to be heading towards the resistance 1.3500



Yen

General overview

The yen grew to the 3-week high when the Japanese Prime Minister approved a fiscal stimulus package.Current situation
The price is bearish on intraday charts. The pair has been under pressure since last week. The USD/JPY continued moving lower and formed a lower low at 100.64. The resistance is at 101.40, the support comes in at 100.40.

The indicators MACD and RSI still generate sell signals. MACD decreased which indicates the sellers’ positions strength. RSI entered the oversold area.

The instrument broke the 50, 100 and 200 Day EMAs downwards in the 4 hours chart. The moving averages are heading downwards.

Trading recommendations

The short term picture is bearish. We believe that this is essentially a “sell only” market at the moment.
The nearest sellers' target lies at 100.40. We expect a short-term bullbacks towards 101.40



AUD/USD

General overview

In economic news, the RBA cut the rate by 25bps to a record low of 1.50%

Current situation

The AUD bounced from the support 0.7500 and rallied on the back of the RBA’s decision to cut the rate.
The pair could escalate up to 0.7600 where its rally slowed down. The session high was marked at 0.7635. The resistance is at 0.7700, the support comes in at 0.7600.

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

The 4 hours chart shows that the instrument bounced from the 200-EMA and headed north leaving the 50,
100 and 200 EMAs behind. The moving averages are moving upwards.

Trading recommendations

We may expect a further growth towards 0.7700. Alternatively, the pair shall decrease to 0.7500.



GOLD

General overview

The gold remained at the 3-week highs as investors expect from the Fed further signals regarding a rate hike.

Current situation

The pair had a positive day on Tuesday. The instrument is approaching the resistance level of 1370. The resistance is seen at 1370, the support stands at 1350.

Indicators generated a buy signal. MACD is in the positive area. Indicator RSI entered the overbought area.

The price is above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages generate a buy signal.

Trading recommendations

The potential growth targets are the resistance levels: 1370 and 1400.



Brent

General overview

The Brent futures are approaching the 41.40 level. The weakness around the dollar increased the demand for the oil.

Current situation

The tone is still negative in the market. The sellers managed to lead the price from the resistance 42.80 to the new session lows at 41.40. The resistance is at 42.80, the support comes in at 41.40 dollars per barrel.

Indicators still generate a sell signal. MACD decreased which indicates the sellers’ positions strengthening. RSI is close to the oversold area.

The 50, 100 and 200 EMAs accelerated their declines. All moving averages keep heading lower.

Trading recommendations

We believe the decrease will be continued now. The first target is the level 41.40, the next one is 40.00.
We do not exclude the growth to 42.80



NASDAQ

General overview

The USA stocks traded lower on the back of a modest earning report from Pfizer and the weak USA data.

Current situation

Technically, the main trend is up, however, the index closed bearish on Tuesday. The sellers led the price from all-time high to the support 4700. The resistance is at 4800, the support stands at 4700.

The indicators recommend short positions. MACD is in the positive area. The histogram decreased which indicates the buyers’ positions weakening. RSI left the overbought area and approached the oversold one.

The 50-EMA stopped the yesterday’s decrease. The 50-EMA acted as a support for the price. The 50, 100 and 200 Day EMAs are moving upwards.

Trading recommendations

If Nasdaq does make a breakout at that level 4700 the index will resume its downward trajectory. If successful, it is expected to fall to the level 4650



S&P 500

General overview

The USA stocks presented a modest negative tone on the back of the concerns over the world economy growth and bearish sentiment growth in the commodity market.

Current situation

The index showed a negative dynamics. Sellers were able to drive the index lower. The price fell from the 2170 mark towards 2140. The resistance is seen at 2165, the support is at 2150.

The indicators generate a sell signal. MACD entered the negative area. MACD decreased which indicates sellers’ growing strength. Oscillator RSI approached the oversold territory.

In the 4 hours chart, the price broke the 50 and 100 EMAs. The moving averages are still moving upwards.

Trading recommendations

After the support level of 2140 breakthrough down the way to the support 2120 will be opened.



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

 

"Fort Financial Services"- fundamental and technical analysis.

04.08.2016

Euro

General overview

The dollar grew against a basket of its major peers on Wednesday. The US currency remained close to the 5-week lows as the markets are uncertain whether the Fed will hike the rate or not this year.

Current situation

The pair had a negative day on Wednesday. The EUR/USD traded in the upward channel, and approached its lower limit. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD decreased which indicates the buyers’ positions weakening. The indicator shows a divergence which is a sell signal. RSI left the overvalued area and is heading downwards.

In the 4 hours chart, the instrument is moving towards the 50, 100 and 200 Day EMAs. The 50-EMA is crossing the 100-EMA and the 200-EMA. The moving averages generate a buy signal.

Trading recommendations

We expect the EUR/USD will resume its decrease and will reach the level 1.1130.



Pound

General overview

The pound weakened following the Services PMI which met the traders’ expectations.

Current situation

The instrument remained close to the local highs. The price traded above the level 1.3300.The current resistance is seen at 1.3500, the support exists at 1.3300.

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

The price traded below the 200-EMA in the 4 hours chart. The 200-EMA acts as a resistance. The 50, 100 and 200 EMAs are neutral.

Trading recommendations

The pair looks bearish and may return below 1.3300. In this scenario, sellers will push the pair down to 1.3100.



Yen

General overview

The yen weakened following the BoJ’s minutes publication. The regulator plans to assess the impact of the negative rates on the economy.

Current situation

Traders pushed the dollar higher in the USD/JPY pair. The USD/JPY is trying to make a breakout at the resistance level of 101.40. The resistance is at 101.40, the support comes in at 100.40.

The indicators MACD and RSI still generate sell signals. MACD grew which indicates the sellers’ positions weakening. The indicator shows a convergence. RSI left the oversold area.

The instrument snapped the 50-EMA in the 1 hour chart. The 50, 100 and 200 Day EMAs are moving downwards.

Trading recommendations

We expect the 101.40 line break that will open the way for the buyers to 102.50.



NZD/USD

General overview

In economic news, Labour cost index added 1.6% vs. expectations of 1.8% in New Zealand.

Current situation

The kiwi faced a downside pressure and closed bearish yesterday. The lowest trading price was marked at 0.7140. The resistance is at 0.7250, the support comes in at 0.7150.

MACD is in the positive area. The histogram decreased which indicates the buyers’ strength weakening. RSI is in the neutral territory. The oscillator is decreasing.

There is a cross-over on the Moving Averages in the 4 hours chart. The 50, 100 and 200 EMAs direction is upwards.

Trading recommendations

We believe the market would switch the tone to bearish. The pair may partly reverse its yesterday's losses, but it will resume its downward trajectory afterwards. The level 0.7050 is the sellers’ target.



GOLD

General overview

The gold remained positive amid decline in expectations that the Fed will hike the rate in near-term.

Current situation

The pair remained neutral during the day and fell in the North American session. The session low was marked at 1353.52. The resistance is seen at 1370, the support stands at 1350.

Indicators generated a weak buy signal. MACD is in the positive area. The histogram decreased which indicates the buyers’ strength weakening. Indicator RSI left the overbought area and is moving downwards.

The moving averages slightly changed from Tuesday.

Trading recommendations

All eyes are right now at the current support level 1358. If this support will break, the price may fall towards 1350.



Brent

General overview

The Brent reversed some of its early losses awaiting the Crude Oil Stocks change release. The Crude Oil Stocks change grew which is a negative factor for the Brent futures.

Current situation

The trend is bearish for now. The trading instrument recovered and closed the day bullish. The resistance is at 44.00, the support comes in at 42.80 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. RSI left the oversold area and is heading towards the overbought area.

The price broke the 50-EMA and 100-EMA in the 1 hour chart. All moving averages keep heading lower.

Trading recommendations

The upward movement potential targets are 44.00 and 45.30. If the price falls it will get to 41.40.



DAX

General overview

The European stocks traded lower on the back of the HSBC, SocGen и Credit Agricole shares growth.

Current situation

The tone is still positive in the market. The index had a positive day on Wednesday. DAX30 was able to reverse some of its previous losses. The index is trying to regain the 10175 mark. The resistance is at 10175, the support stands at 10000.

MACD is in the negative area. The histogram decreased which indicates the sellers’ positions strengthening. RSI rebounded from the overbought area.

The price broke 50-EMA, but was unable to leave it and stayed in its region. The 50-EMA acts as a resistance for the price now. The 50 and 100 Day EMAs are moving upwards, the 200-EMA is neutral.

Trading recommendations

If the price fixates below the level of 10175, it may continue the downward trend in the short term. The potential targets are 10000 and 9760.



S&P 500

General overview

Wall Street traded with slight gains as energy and financial sectors compensated healthcare and consumer goods decrease.

Current situation

The index showed a positive dynamics. Traders tried to push the index higher. However, the buyers ran out of steam and the upward move faded in the North American session. The resistance is seen at 2165, the support is at 2150.

The indicators generate a sell signal. MACD is in the negative area. MACD decreased which indicates sellers’ growing strength. Oscillator RSI is close to the oversold territory.

The moving averages slightly changed from yesterday.

Trading recommendations

We believe the growth will be continued now. The first target is the level 2160. We do not exclude the falls to 2140.



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

 

"Fort Financial Services"- fundamental and technical analysis.

05.08.2016

Euro

General overview

The euro has been decreasing the second day in a line. The single currency weakened amid the growing dollar. The Eurozone Economic Bulletin did not present any interesting information. The investors’ attention now turns to the US nonfarm payrolls report which will be released later today.

Current situation

The dollar traded mixed on Thursday, generally higher against the euro. The pair remained in a negative ground. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD shows a divergence which is a sell signal. RSI left the overvalued area and is heading downwards.

In the 4 hours chart, the instrument bounced from the 50-EMA which crosses the 100 and 200 EMAs. The moving averages are neutral.

Trading recommendations

If the price makes another attempt and this time breaks below the 1.1130 support area then we could see a decrease towards 1.1050 and 1.1000.



Pound

General overview

The sterling showed a sharp drop for the first time after the Brexit referendum following the BoE’s decision to cut the basis rate by 0.25% and to launch the bond buying program.

Current situation

The pound had a negative day on Thursday. The GBP/USD had a sharp drop to the support 1.3100 area where the downward impulse faded. The Sterling lost about 1.60% during the course of the day. The current resistance is seen at 1.3300, the support exists at 1.3100.

MACD shows a divergence which points to the trend change. RSI approached the oversold territory.

The instrument bounced from the 200-EMA and fell in the 4 hours chart. The pair broke the 100 and 50 Day EMAs on its way. Now the price is below the moving averages which act as a resistance.

Trading recommendations

We are looking for the 1.3100 support break and then continuation of a fall with a further target at 1.2900.



Yen

General overview

The yen grew following the Kikuo Iwata comments (a Bank of Japan deputy governor). According to Mr. Kikuo Iwata the regulator does not have any preset agenda for its current policy.

Current situation

The pair USD/JPY remained neutral, staying below 101.40 region. The resistance is at 101.40, the support comes in at 100.40.

The MACD indicator shows a convergence which is a buy signal. RSI stayed close to the oversold area.

The instrument broke the 50-EMA before retreating it in the 1 hour chart. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

The pair is neutral, awaiting for the NFP in the US. In the scenario where buyers return to the market the USD/JPY grows towards 102.50. Otherwise, the instrument will decrease to 100.40.



AUD/USD

General overview

The Aussie grew on the back of the negative Retail Sales in the country. The index came in worse-than-expected which did not stop the Australian dollar from resuming its growth.

Current situation

The pair held a bullish tone yesterday. The AUD/USD was climbing the whole day and reached the 0.7630 mark, the highest level since July 15th. The resistance is at 0.7700, the support comes in at 0.7600.

The indicators generate a buy signal. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI approached the overbought area.

The price is hovering above the 50, 100 and 200 Day EMAs in the 1 hour chart. The moving averages are moving upwards.

Trading recommendations

The pair can grow to the resistance level of 0.7700. After breaking 0.7700 the buyers may go to 0.7800.



GOLD

General overview

Gold grew and gained back its early losses following the Bank of England decision to cut the rate.

Current situation

The pair had a positive day on Thursday. Traders pushed the gold higher to the mark 1364 where the price had found a strong resistance. The resistance is seen at 1370, the support stands at 1350.

MACD is in the positive area. The histogram grew which is a buy signal. RSI is close to the overbought area.

The 1 hour chart shows that the price broke the 50 and the 100 EMAs before returning above them. The 50, 100 and 200 Day EMAs are trending upwards in the mentioned time frame.

Trading recommendations

The main point of focus today is Non Farm Payrolls in the USA. In the scenario when the Fed releases the positive unemployment report the gold futures will decrease towards 1350. Alternatively, the yellow metal will grow above 1370.



Brent

General overview

The Brent is under pressure. We believe the current oversupply and the world economy slow down will weigh on the oil price.

Current situation

The Brent closed bullish yesterday. Bulls seem to take control over the market. The buyers managed to lead the price from the support 42.80 to the 44.00 region where the pair found a strong resistance. We consider the current growth corrective. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

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

The instrument broke the bearish 50, 100 and 200 EMAs upwards in the 1 hour chart. The 50-EMA is turning upwards, the 100-EMA is neutral, the 200-EMA is still heading lower in the same chart. The price broke the 50-EMA and hovered above in the 4 hours chart. All moving averages keep heading lower.

Trading recommendations

We believe the growth will be continued now. The first target is the level 45.30. We do not exclude a decrease towards 42.80.



Nasdaq

General overview

American stocks showed little change on the back of the Bank of England decision to cut the rate.

Current situation

The index enjoyed a mixed session through trade on Thursday. The trading instrument remains in the upward channel. The index closed the day bullish. The resistance is at 4765, the support stands at 4700.

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

The price bounced off the 50-EMA in the 4 hours chart. All moving averages are pointing higher which is a buy signal.

Trading recommendations

The potential growth target is the resistance level of 4800. We do not exclude the falls to 4650.



S&P 500

General overview

Wall Street showed low volatile trades, remaining in a flat on Thursday. The traders are cautious ahead of the NFP.

Current situation

The index held near the unchanged mark on Thursday. The price spent the day close to the opening mark. The resistance is seen at 2165, the support is at 2150.

MACD is in the negative area close to its centerline. Oscillator RSI is neutral.

The 50-EMA is crossing the 100-EMA downwards which is a sell signal.

Trading recommendations

We advise to short with the first target - 2150. When the pair consolidates below the first target, we can open deals to the level of 2140.




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

 

08.08.2016

Euro

General overview

The USA published the NFP report on Friday. The labour market report came in better than forecasted. The euro, pound and yen fell versus the dollar on the back of the strong jobs data.

Current situation

The pair had a negative day on Friday. Bears gradually gained more overall control. The EUR/USD dropped back below 1.1130 mark on much better than expected U.S Nonfarms Payroll. The euro had a sharp drop and found a strong support at the level of 1.1050. The resistance is seen at 1.1130, the support stands at 1.1050.

The indicators generate a sell signal. MACD entered the negative area. The histogram decreased which indicates the sellers’ strength. RSI approached the oversold area.

In the 4 hours chart, the instrument broke the 50, 100 and 200 EMAs downwards at first but grew later back. The price closed the day between the 100 and 50 EMAs. The moving averages are turning downwards.

Trading recommendations

The trend is clearly bearish for now. We expect a decrease towards the strong psychological level 1.1000.



Pound

General overview

The sterling made an attempt to grow as traders believed that the BoE's monetary easing program will support the country economy. However, the better-than-expected U.S jobs data weighed on the pound which sharply fell.

Current situation

The GBP/USD continued to trade in the negative ground. The pound had a sharp drop below the support level of 1.3100 and formed a lower low there. The lowest trading price was marked at 1.3020. The current resistance is seen at 1.3100, the support exists at 1.2900.

MACD still shows a divergence. The histogram decreased which indicates the sellers’ strength. RSI approached the oversold area.

The trading instrument remained below the 50, 100 and 200 EMAs in the 4 hours chart. The price dropped away from the moving averages which are trending downwards now.

Trading recommendations

We are looking for 1.3100 break and then continuation of a fall with a further target at 1.2900.



Yen

General overview

The pair strengthened on much better-than-expected Nonfarm Payrolls in the USA.

Current situation

The pair looks bullish, the tone is positive in the market. Traders pushed the dollar higher and closed in the green area. The resistance is at 102.50, the support comes in at 101.40.

The MACD indicator shows a convergence which is a buy signal. MACD is growing. RSI bounced from the oversold area.

The instrument broke the 50 and 100 EMAs and stayed above the latest in the 1 hour chart. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

The bullish views are getting more popular now. We support the growth scenario, the next stop for the USD/JPY could well be around 102.50.



USD/CAD

General overview

Unemployment Rate in Canada came in worse than expected. Change in Employment showed -31.2K. At the same time the U.S. dollar strengthened which supported the pair.

Current situation

The USD/CAD closed bullish on Friday. The pair could escalate up to 1.3200. The resistance is at 1.3200, the support comes in at 1.3100.

The indicators generate a buy signal. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI approached the overbought area.

The price is hovering above the 50, 100 and 200 Day EMAs in the 4 hours chart. The moving averages are moving upwards.

Trading recommendations

The pair may bounce back from the resistance 1.3200 towards the 1.3100 mark. It is a good opportunity to buy the pair when it became cheaper. The buyers’ targets are the levels 1.3200 and 1.3300.



GOLD

General overview

Gold strengthened on Thursday to 4-week high when the BoE cut the rate. However, the yellow metal weakened the next day following the U.S labour market report.

Current situation

The positive trend switched to the negative one. The gold futures decreased and are decisively trading below the 1350 mark now. The resistance is seen at 1350, the support stands at 1330.

MACD is in the negative area. The histogram decreased which is a sell signal. RSI approached the oversold area.

The gold futures broke the 50-EMA and touched the 100-EMA in the 4 hours chart. The price is currently struggling with a bullish 100 EMA. The moving averages direction is upwards.

Trading recommendations

The instrument is approaching the support 1330 which limits its decrease. The pair will resume its downtrend as soon, as the price drops below the current support level.



Brent

General overview

The Brent feels confident following the USA positive inventories report.

Current situation

The tone is positive in the market. The price left the downward channel and is heading upwards. The buyers led the price from 43.46 to 44.46. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

The indicators slightly changed from Friday, they still generate a buy signal.

The instrument broke the bearish 50-EMA and is heading to the 100-EMA in the 4 hours chart. The 50-EMA is turning upwards, the 100 and 200 EMAs keep heading lower.

Trading recommendations

The instrument has been strengthening for several days. All eyes are right now at the resistance level 45.30. If Brent futures fixate over it the prices may resume its growth.



Dax

General overview

European stocks closed higher. The BoE quantities easing program together with the U.S labor data supported financial stocks on Friday.

Current situation

The trend is clearly bearish for now. DAX returned into the upwards channel. The index jumped to a fresh weekly high of 10370 after the NFP report. The resistance is at 10520, the support stands at 10350.

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

The price bounced off the 50-EMA in the 4 hours chart. The 50 and 100 EMAs are heading higher, the 200-EMA is neutral.

Trading recommendations

The pair holds a bullish tone. The potential growth target is the resistance level of 10520.



S&P 500

General overview

Wall Street traded higher on Friday on the back of the better-than-expected Nonfarm Payrolls report.

Current situation

The instrument had a positive day on Friday. The index sharply rallied and set a fresh all-time high at 2176. The resistance is seen at 2180, the support is at 2165.

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

The 50-EMA is crossing the 100-EMA upwards which is a buy signal. The 50, 100 and 200 Day EMAs are trending upwards.

Trading recommendations

We believe in a growth. We expect SP500 to break 2180 and to consolidate over it.



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

09.08.2016

Euro

General overview

The Euro remained under pressure on Monday. Positive Industrial Production in Germany and Investors Confidence from Sentix were not able to support the single currency.

Current situation

The EUR/USD traded within Friday's close on Monday. The pair was unable to recover the 1.1100 level.
The short term picture is neutral. The resistance is seen at 1.1130, the support stands at 1.1050.

The indicators generate a sell signal. MACD is negative. The MACD remained at the same level which confirms the strength of sellers. RSI remained close to the oversold area.

In the 4 hours chart, the price broke the 50, 100 and 200 Day EMAs downwards and remained just below them. The moving averages are turning downwards.

Trading recommendations

We are bearish on the pair. We expect a break of 1.1050 and a further move towards the recent lows at 1.1000.



Pound

General overview

The pound stayed at the Friday’s close. The Sterling has been under pressure since the BoE cut the rate to cushion the Brexit negative impact.

Current situation

We preserve a short-term bearish outlook for the pair. The GBP/USD remained close to the fresh lows.
The price is locked between levels 1.3000 and 1.3100. The current resistance is seen at 1.3100, the support exists at 1.2900.

The indicators slightly changed from Friday. MACD and RSI generate a sell signal.

The trading instrument remained below the 50, 100 and 200 EMAs in the 4 hours chart. The moving
averages remained at the same place.

Trading recommendations

We expect a short-term growth towards 1.3175 where the 50 and 100 Day EMAs lie. In this potential scenario the GBP/USD shall bounce from the mentioned mark downwards towards 1.2900.



Yen

General overview

Traders continued closing long positions on the back of the renewed interest towards the risky assets.

Current situation

The instrument is modestly bullish in the short term. The USD/JPY maintained its strong buying tone.
The dollar grew in the pair and reached the level 102.50 where it spent the first day of the week. Theresistance 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 approaching the overbought territory.

The instrument broke the 50-EMA and stayed above it in the 4 hours chart. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

If the USD/JPY does make a breakout at that level 102.50 and upward trajectory will be continued towards 103.50.



NZD/USD

General overview

The NZD/USD decreased on the back of the stronger than expected the U.S labor data. The strong labour market makes us believe in the USA economy strength.

Current situation

The pair recovered and returned some losses it had suffered last week. The price bounced upwards from the current support at 0.7085. The session high was marked at 0.7142. The instrument closed the day bullish. Its tone is still positive. The resistance is at 0.7150, the support comes in at 0.7050.

The indicators are in the negative territory. MACD decreased which indicates the sellers’ strength. RSI
approached the oversold area.

The price bounced from the 200-EMA on Friday and returned above the 50 and 100 Day EMAs. The 50-EMA acts as a support. The moving averages are neutral.

Trading recommendations

An uptrend will start as soon, as the pair rises above the resistance level 0.7150. If the price is back below the 0.7085 (the 200-EMA) the price will resume its decrease towards 0.7050.



GOLD

General overview

Gold became cheaper on Monday after the strong U.S Labor market report which increased the possibility of the rate hike by the Federal Reserve this year.

Current situation

Gold futures remained at the weekly low after a sharp decrease last Friday. The price traded in a narrow side channel between the levels 1330 and 1337. The pair remained in the ascending channel, at its low boundary. The resistance is seen at 1350, the support stands at 1330.

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

The price remained below the 100-EMA in the 4 hours chart. The instrument is locked between the 100 and 200 EMAs. The moving averages are turning downwards.

Trading recommendations

We expect a pullback towards 1342 where the price may turn downwards and continue with a decrease.



Brent

General overview

Brent continued growing when some OPEC members suggested to limit the current oil production. The oversupply still weighs on the price.

Current situation

The Brent holds a bullish tone. The instrument grew and formed a higher high. The session high was marked at 45.53. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

The indicators recommend long positions. MACD grew which is a buy signal. RSI stayed close to the oversold area.

The instrument broke the bearish 100-EMA and left it behind. The price is heading to the 200-EMA in the 4 hours chart now. The 50-EMA is neutral, the 100 and 200 EMAs are pointing lower.

Trading recommendations

Brent futures may roll back towards the 44.00 level. The main point of focus today is the release of Crude Oil Stocks change from API. Its results will determine the Brent further direction.



Nasdaq

General overview

Wall Street opened higher at the start of the new week. Stocked renewed all time highs on Friday on the back of the strong NFP report. The quotes moved lower during the day.

Current situation
The tone is still positive. However, the price bounced from the level 4800. The resistance is at 4800, the support stands at 4700.

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

The price is approaching the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are heading higher.

Trading recommendations

The price may roll back to 4750 where we expect it to bounce upwards towards 4800.



S&P 500

General overview

S&P500 retreated from all-times highs following a drop in healthcare. The drop in healthcare lowered a positive impact of higher oil prices and a strong NFP report.

Current situationWe are still bullish longer-term. However, the index weakened and moved away from all-time high. The resistance is seen at 2180, the support is at 2165.

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

The 50-EMA is crossing the 100-EMA upwards which is a buy signal in the 1 hour chart. The 50-EMA extended its growth and is around 2170 now. The 50, 100 and 200 Day EMAs are trending upwards. The 50 and 100 EMAs are forming a cross-over in the 4 hours chart and act as a support for the instrument.

Trading recommendations

The S&P500 may decrease to the level 2165 where the 50 and 100 EMAs lie. The price may bounce back towards 2180.



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

10.08.2016

Euro

General overview

The euro traded in a tight range while the dollar was under pressure all over the board. The demand for the euro is limited by the European stocks strengthening.

Current situation

The tone is still negative in the market. The pair spent the day in a narrow range locked in-between 1.1080 – 1.1100. The instrument tried to regain the 1.1130 level, but failed. The price spiked and returned into the range. The resistance is seen at 1.1130, the support stands at 1.1050.

MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI stayed close to the oversold area.

The moving averages are forming a narrow range in the 4 hours chart. The price tried to break the 50, 100 and 200 Day EMAs upwards, but failed and returned below the 200-EMA which acts as a resistance.

Trading recommendations

The EUR/USD is under pressure. The price will meet the further downside pressure after breaking 1.1080 downwards.



Pound

General overview

The pound softened to the fresh monthly lows against the dollar following the gloomy Production data in the country. The weak data renewed concerns over the UK economy strength.

Current situation

The tone is still negative in the market. The pound continued moving lower yesterday. The session low was marked at 1.2954. The current resistance is seen at 1.3100, the support exists at 1.2900.

The indicators slightly changed from Monday. MACD and RSI generate a sell signal.

The 100-EMA is crossing the 200-EMA in the 1 hour chart which is a sell signal. The price is approaching the 50-EMA which acts as a resistance for the instrument.

Trading recommendations

The price may pull back from the 1.3000 region where the 50-EMA lies. The level 1.2900 is the next sellers’ target.



Yen

General overview

The dollar remains strong against its rivals on the back of the strong Labor data in the USA.

Current situation

The USD/JPY closed bearish yesterday. The dollar retreated from the resistance 102.50 which is defended by the sellers. The resistance is at 102.50, the support comes in at 101.40.

MACD indicator is at the centerline. RSI is neutral.

Technically, the 4 hours chart shows that the price was struggling with the 50-EMA which limits its growth. An attempt to break the EMA failed and the instrument returned below. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

If the price breaks above 102.50, then this could lead to a renewed buying momentum, possibly towards 103.50. Alternatively, the USD/JPY will decrease to 101.40.



AUD/USD

General overview

National Australia Bank's Business Conditions came in negative. Besides, the market remained under pressure following oil prices decrease.

Current situation

The pair had a positive day on Tuesday. The instrument grew in an ascending channel close to its upper limit. The resistance is at 0.7700, the support comes in at 0.7600.

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

The price bounced from the 50-EMA in the 1 hour chart. The 50, 100 and 200 Day EMAs extended their growth. All EMAs are pointing upwards.

Trading recommendations

The pair is overbought. We expect a short-term rebound towards 0.7600 (the 50-EMA) where the price may upside and return to the growth.



GOLD

General overview

Gold is under pressure following the expectations for the next U.S. rate hike.

Current situation

Gold traded in a tight range on Tuesday. The price was sandwiched between 1330 – 1336. The metal partly recovered in the American session. Buyers were able to push the price to 1340. The resistance is seen at 1350, the support stands at 1330.

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

The price spiked upwards to the 50-EMA in the 4 hours chart. The 50-EMA acts as a resistance for the XAU/USD. The 50, 100 and 200 EMAs are neutral.

Trading recommendations

We expect Gold to continue growing with the target at 1350.



Brent

General overview

The Brent got under pressure yesterday due to the returned concerns over the oversupply. Besides, the price retreated when traders began closing their long positions.

Current situation

Bears seem to have the ball now. The price found a strong resistance at 45.30 which was not able to break. All buyers’ attempts to break the level were rejected and Brent returned below the level by the end of the trading day. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

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

Brent holds above the 100-EMA which acts as a support for the instrument in the 4 hours chart. The 100 and 200 EMAs are heading downwards. The 50-EMA is neutral.

Trading recommendations

If the pressure persists the price will drop to 44.00. Otherwise, Brent will grow towards 46.50 where the 200-EMA lies.



DAX

General overview

DAX strengthened on Tuesday and set a new local high following the U.S stocks. Technology, Insurance and Chemicals sectors shares grew and pulled the index after them.

Current situation

Technically, the short term picture is bullish. DAX maintained its strong bid tone on Tuesday. The price set a new local high at 10700. The resistance is at 10700, the support stands at 10520.

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

The price is heading north from the 50-EMA in the 4 hours chart. The 50, 100 EMAs are trending higher, the 200-EMA is neutral.

Trading recommendations

The price may pull back from the fresh highs. The sellers’ target is the level 10520.



S&P 500

General overview

S&P500 traded higher on Tuesday on the back of the Technology stocks growth and when oil price gound status quo.

Current situation

The quotes returned to all-time highs on Tuesday. The index spent the day below 2180. All buyers’ attempts to regain the level failed. The resistance is seen at 2180, the support is at 2165.

MACD is still in the positive area. The histogram points to the buyers’ positions weakening. RSI stayed close to the overbought area.

The 50-EMA is crossing the 100-EMA upwards which is a buy signal in the 4 hours chart. The 50-EMA acts as a support for the price. The 50, 100 and 200 Day EMAs are trending upwards.

Trading recommendations

If S&P500 manages to break the level 2180 the upward trajectory will be continued towards 2200. The price may retreat from the local highs to the support 2165 where the 50 and 100 EMAs exist.




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

11/08/2016

Euro

General overview

The euro strengthened when analysts reassessed the likelihood of the rate hike this year.

Current situation

The euro erased its losses and rallied higher. Buyers managed to lead the price from the 1.1050 region to the level 1.1200. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD grew which indicates the sellers’ positions weakening. RSI approached the overbought area.

The 50, 100 and 200 EMAs are forming a narrow range in the 4 hours chart. The price is heading from the moving averages in the mentioned time frame.

Trading recommendations

If the EUR/USD does make a breakout at that level 1.1200, it is expected to grow to the level 1.1270.

Alternatively, the instrument will decrease to 1.1050.



Pound

General overview

Sterling strengthened on the back of the weak dollar. Pound returned some of its losses, nevertheless, the GBP/USD remains under pressure.

Current situation

The technical picture presents a bearish tone. Pound partly reversed its losses and grew to the mark 1.3100 where it turned down. The current resistance is seen at 1.3100, the support exists at 1.2900.

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

RSI is neutral.

The price broke the 50 and 100 EMAs upwards and bounced back from the 200-EMA in the 1 hour chart.

The instrument rolled back from the 50-EMA after touching it in the 4 hours chart. The 50, 100 and 200 Day EMAs are pointing lower.

Trading recommendations

The pair now seems to be heading towards its immediate support near 1.2900. After breaking the level the way towards 1.2700 will be opened.



Yen

General overview

The USD/JPY erased all its gains and traded at the session lows. Markets doubt now the likelihood of the Fed rate hike in the current year. The yen grew supported by the stocks weakness and positive Machinery Orders.

Current situation

The pair faced further downside pressure. Dollar erased all its gains and headed back to local lows. After reaching the support at 101.00 the pair turned up. The resistance is at 101.40, the support comes in at 100.40.

The indicators headed south. MACD moved into the negative area which point to the strength of sellers. RSI dropped to the oversold area.

The USD/JPY bounced from the 50-EMA and headed away from it in the 4 hours chart. The 50-EMA provides a strong resistance in the 102.00 region. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

The pair is under pressure. In the negative scenario, the instrument will fall towards 100.40. In the scenario where buyers take control the USD/JPY grows to 102.50.



USD/CAD

Current situation

The pair has been under intense selling pressure since last week. The instrument is in an upward channel and traders pushed the price to its low limit on Wednesday. The USD/CAD found a strong support at 1.3000 where the pair reversed and partly erased its gains. The resistance is at 1.3100, the support comes in at 1.3000.

MACD decreased which indicates the sellers’ positions strength. RSI approached the oversold area.

The price broke the 200-EMA and stopped in its region in the 4 hours chart. The instrument is between the 100 and 200 EMAs which act as a resistance and a support. The 50 and 100 EMAs are turning downwards. The 200-EMA is still trending upwards.

Trading recommendations

Shall the pair break 1.3000 the downward movement will be continued. Otherwise, we will see a solid growth towards the 1.3100 region where the upper limit of the ascending channel lies.



GOLD

General overview

Gold strengthened on Wednesday on the back of the weak dollar and decreased expectations that the Federal Reserve will have a rate hike in the upcoming months.

Current situation

The pair had a moderately positive day on Wednesday. Gold sharply rallied and set a new local high at 1356 where the pair turned down and erased some of its gains lately. The resistance is seen at 1350, the support stands at 1330.

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 bounced from the overbought area.

The price spiked from the 50-EMA in the 4 hours chart. However, it returned back to the 50-EMA later the day. Now the 50-EMA acts as a support for the XAU/USD. The 50, 100 and 200 EMAs are moving upwards.

Trading recommendations

The growing impulse faded and gold softened. If the price remains below 1357 the instrument will continue its downward trajectory. Alternatively, buyers will lead the price to the resistance at 1370.



Brent

General overview

Brent lost about 2% during the trades on Wednesday when the U.S. crude oil inventories unexpectedly rose in the latest week.

Current situation

The market sentiment switched to the negative. Traders pushed the oil futures lower and the instrument erased part of its gains by the end of the trades. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.

The indicators slightly changed from yesterday. Indicators generate a sell signal.

The 4 hours chart shows that the price is currently struggling with a bearish 100-EMA. The 100 and 200 EMAs are heading downwards. The 50-EMA is neutral.

Trading recommendations

Brent is now under the risk of falling under the level of 44.00. After breaking the mentioned level the way towards 42.80 will be opened.



Nasdaq

General overview

U.S stocks traded close to the closing levels. Nasdaq took a pause after setting new all-times highs.

Current situation

The index retreated from the fresh all-times highs. Traders pushed the price lower. Nasdaq remained in an ascending channel, the price is close to its lower limit. The resistance is at 4800, the support stands at 4700.

MACD is still positive. MACD grew which indicates the sellers’ positions weakening. RSI left the overbought area and is advancing south.

The price is approaching 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 heading higher.

Trading recommendations

The price may pull back from the fresh highs. The sellers’ target is the level 4750 where the 50-EAM lies.



S&P 500

General overview

S&P500 moved away from the record highs as weak oil weighs on the quotes.

Current situation

The index dropped back below the 2180 mark. The price decreased and is approaching the support at 2165. The resistance is seen at 2180, the support is at 2165.

MACD is still positive. MACD grew which indicates the sellers’ positions weakening. RSI left the overbought area and is advancing south.

The moving averages slightly changed from yesterday.

Trading recommendations

The price is approaching the support 2165 where the 50 and 100 EMAs lie. This loss of the 2165 level is now pointing to a further period of downside to come.



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

 

12.08.2016

Euro

General overview

Dollar traded higher on the back of the strong Jobless Claims report which showed a drop in the claims number.

Current situation

The market little changed on Thursday. The pair could escalate up to 1.1180, however, the rally was short-lived and weak. The price remained in the same range. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD still points to the sellers’ positions weakening. RSI stays close to the overbought area.

The moving averages slightly changed from yesterday.

Trading recommendations

If the EUR/USD keeps growing its next stop could well be at the 1.1200 region. Should the pair soften, the price will drop to 1.1050.



Pound

General overview

The GBP/USD ignored the U.S labour market data and oil prices growth. Investors’ attention now turns to the retail sales and consumer sentiment releases which may determine its further movement.

Current situation

The pair remained in red figures. Traders pushed the price lower on Thursday. The pound is now decisively trading above the 1.2900 mark. The current resistance is seen at 1.3100, the support exists at 1.2900.

MACD remained in the negative area. MACD decreased which indicates the sellers’ positions strength.

RSI approached the oversold area.

The 4 hours chart shows that the instrument remained below the bearish 50-EMA which extended its decline. The 50, 100 and 200 Day EMAs are heading lower.

Trading recommendations

The GBP/USD remained under pressure. We are looking for the current support break and then continuation of a fall with a further target at 1.2900 and further out 1.2700.



Yen

General overview

The yen erased all its latest gains after the Jobless Claims Report. Now traders are demanding further action from the Bank of Japan. If the pair continues softening the central bank will have to act accordingly.

Current situation

The market was low volatile during the European Session on Thursday and became active only after U.S Jobless Claims report. The dollar strengthened on the back of the strong U.S labor data. Traders were able to push the price higher. The instrument broke the level 101.40 and kept rallying. 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 bounced from the oversold area and is heading upwards.

The price broke the 50 and 100 EMAs in the 1 hour chart. After breaking the lines the pair continued advancing north. Now the 200-EMA acts as a resistance for the USD/JPY. The moving averages (50, 100 and 200) direction is downwards in the mentioned time frame.

Trading recommendations

We believe the USD/JPY will move on to test the next bullish target at 102.00, where the 200-day moving average lies.



NZD/USD

General overview

The kiwi grew to one-month high following the RBNZ decision to cut the rate by 0.25%.

Current situation

Sellers seem to have returned to the market. After reaching the one-month high the price reversed and headed downwards. Traders were able to lead the price from the mark 0.7335 to 0.7225. The resistance is at 0.7250, the support comes in at 0.7150.

The indicators generate a sell signal. MACD decreased which indicates the sellers’ positions strength. RSI bounced from the overbought area.

The price is approaching the 50-EMA in the 1 hour chart. The 50, 100 and 200 EMAs are still trending upwards.

Trading recommendations

The bearish views are getting more popular. We believe the pressure will persist. The next sellers' stop could well be at the 0.7150 region.



GOLD

General overview

Gold got under selling pressure after the positive U.S labour report. Analysts are evaluating a possible timing of a rate hike by the Fed.

Current situation

The pair spent Thursday in a narrow range 1341-1346. All buyers’ attempts to push the price higher failed. Sellers returned to the market after a bunch of the U.S statistics. The resistance is seen at 1350, the support stands at 1330.

MACD indicator is still at the centerline. RSI is neutral.

The instrument traded above the 50-EMA which acts as a support for the price in the 4 hours chart. The moving averages (50, 100 and 200) are still trending higher.

Trading recommendations

Gold futures got under pressure. If the pressure persists the next sellers’ target will be at 1330 where a strong bullish 200-EMA lies in the 4 hours chart.



Brent

General overview

Brent strengthened during the North American session on Thursday. The prices recovered after a sharp drop on the back of the concerns over the world oversupply.

Current situation

Brent spiked and set a new weekly high at 46.30. The instrument is trying to make a breakout at the resistance level of 46.50. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

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

The price bounced from the 50-EMA, broke the 100-EMA and headed towards the 200-EMA in the 4 hours chart. The 200-EMA stopped its further upward movement.

Trading recommendations

The market is bullish now. The price may slightly roll back towards 45.30 dollars per barrel where it may reverse back to a growth.



DAX

General overview

DAX traded higher on Thursday as Retail, Consumer & Cyclical and Technology supported the index. The index gained about 0.86% by the end of the trades.

Current situation

DAX was in a buy mood and traded higher on Thursday. The price could escalate up to 10740 where it set a new weekly high. The resistance is at 10700, the support stands at 10520.

Indicators remained within the positive territory. MACD grew which indicates the buyers’ positions strength. RSI entered the overbought area.

The price moved away from the 50, 100 and 200 EMAs which extended higher.

Trading recommendations

The price may pull back from the fresh highs. Sellers can return the price below 10700. If the price fixates over 10700 this could lead to renewed buying momentum, possibly towards 10900.



S&P 500

General overview

S&P500 grew following the positive U.S labor report and strong corporate earning which gains led the index higher. Besides, energy sector strengthened on the back of oil growth.

Current situation

Bulls still control the market. The index grew and set a fresh high at the mark 2184.4. The resistance is seen at 2180, the support is at 2165.

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

The S&P500 bounced from the 50-EMA in the 4 hours chart and moved away from it. The moving averages are trending higher which is a buy signal.

Trading recommendations

The index shall continue growing on the back of the positive U.S statistics. The 50 and 100 EMAs will act as a support. The instrument will move back and forth between the current resistance 2180 and the 50 and 100 EMAs.




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

 

15/08/2016

Euro

General overview

The euro strengthened on the back of the U.S weak statistics. Retail Sales and PPI index came in worse than expected. Now traders diminished their expectations for another rate increase in the current year.

Current situation

The dollar partly weakened on the U.S data, but soon reversed and pushed the EUR/USD down. The price returned to the levels where it was before the Retail Sales and PPI releases and ended the day bearish. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD remained in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the overbought area and is heading to the south.

The price is hovering above the 50, 100 and 200 EMAs which are still forming a narrow channel in the 4 hours chart. The moving averages are pointing upwards.

Trading recommendations

Sellers might force the pair to resume its downward trajectory. The price may drift below 1.1130 to test the 1.1080 support area.



Pound

General overview

The pound is under pressure as the BoE relaunched its quantitative easing program.

Current situation

The pound remained under pressure despite the weak dollar. The sterling tried to grow, but the 50-EMA limited its growth. The GBP/USD had to return to the support 1.2900. The current resistance is seen at 1.3100, the support exists at 1.2900.

The indicators (MACD and RSI) still generate a sell signal.

The 50-EMA is a resistance where the price bounced downwards in the 4 hours chart. The 50, 100 and 200 Day EMAs are heading lower.

Trading recommendations

The overall outlook remains bearish, for a drop towards 1.2900 support area.



Yen

General overview

The yen rose on Friday after disappointing U.S statistics: Retail Sales showed a flat and PPI decreased which rose concerns over the strength of the U.S economy.

Current situation

The yen strengthened in the market amid risk aversion. Bears have the ball now and pushed the pair below the 101.40 level. The resistance is at 101.40, the support comes in at 100.40.

MACD decreased which confirms the strength of sellers. RSI stayed close to the oversold area.

The instrument bounced from the 100-EMA which stands around the resistance 102.50 in the 4 hours chart. The price dropped and returned below the 50-EMA. The moving averages direction is downwards.

Trading recommendations

The loss of the 101.40 level will point to a further period of downside to come. A break below this mark risks a decline towards the support at 100.40.



USD/CAD

General overview

The commodity currencies ignored oil prices sharp growth and remained under pressure together with the U.S. dollar.

Current situation

The pair presented a modest bearish tone. The USD/CAD continued to grind lower and approached the support level of 1.2900. The resistance is at 1.3000, the support comes in at 1.2900.

The indicators generate a sell signal. MACD decreased which indicates the sellers’ positions strength. RSI is close to the oversold area.

The price is heading from the moving averages in the 4 hours chart. The 50-EMA is crossing the 100-EMA downwards. All moving averages are turning down.

Trading recommendations

If the downward pressure persists we think that the 1.2900 level will be the next sellers' target.



GOLD

General overview

Investors are concerned over the global market prospects and chose gold as a safe asset.

Current situation

The gold remained in an upward channel close to its lower limit. Traders pushed the price lower to the support 1330 by the end of the trades. The resistance is seen at 1350, the support stands at 1330.

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

The price broke the 50 and 100 EMAs and stopped just below the last in the 4 hours chart. The moving averages (50, 100 and 200) are still trending higher.

Trading recommendations

We still support the idea of a decrease towards 1130.



Brent

General overview

Oil prices spiked due to the dollar weakening which holds the quotes near the day peaks.

Current situation

The Brent holds a bullish tone. The price left the descending channel and formed an upward now. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

The indicators MACD and RSI recommend long positions.

The price broke the long-term 200-EMA upwards and moved away from the line. The 50-EMA is breaking the 100-EMA upwards.

Trading recommendations

If the Brent remains above 200-EMA which stands around the 46.50 region the growth will be continued. The level 47.50 is the next buyers’ target.



Nasdaq

General overview

Wall Street weakened after weaker-than-expected Retail Sales and Production Prices report. Despite the positive labour market data the Fed may wait with the rate hike until it gets a solid proof over the strength of the economy.

Current situation

Nasdaq refreshed its new local highs. The price returned to the resistance at 4800 where it ended the trading week. The resistance is at 4800, the support stands at 4700.

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

The price hovered above the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are still pointing upwards.

Trading recommendations

If the instrument breaks above the level 4800 the price will grow to the next resistance at 4900.



S&P 500

General overview

The U.S stocks traded lower on Friday right the next day they had reached their historical peaks since 1999 on the back of the weaker-than-expected U.S statistics.

Current situation

The index set a new all-time high at the mark 2184.8 and is now decisively trading a few pips below this mark. The resistance is seen at 2180, the support is at 2165.

MACD decreased which indicates the buyers’ positions weakening. RSI moved away from the overbought area and is trending downwards.

The moving averages have slightly changed from Friday.

Trading recommendations

S&P500 shall struggle for the mark 2180. If buyers win the price will climb towards 2200. Alternatively, sellers will push the price towards 2165.



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

"Fort Financial Services"- fundamental and technical analysis.

16.08.2016

Euro

General overview

The dollar softened against its main rivals as the disappointing U.S statistics kept weighing on it.

Current situation

The euro strengthened on Monday on the back of the weak dollar. Traders were able to push the price upwards to the 1.1200 region. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI approached the overbought area. Indicators generate a buy signal.

The price is moving away from the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages range is expanding, the 50-EMA is moving away from the 100 and 200 EMAs. Moving averages generate a buy signal.

Trading recommendations

The price approached the resistance 1.1200. If the EUR/USD breaks the level the growth trajectory will be continued towards 1.1270.



Pound

General overview

The pound erased its latest gains as the delay with leaving the EU returned uncertainty to the markets.

Current situation

The pound remained under pressure, the sterling continued to approach the 31-yeal low. The instrument suffered a short lived downward movement, traders pushed the price below 1.2900.The current resistance is seen at 1.2900, the support exists at 1.2700.

The indicators (MACD and RSI) remained unchanged, both of them generate a sell signal.

The price headed away from the moving averages (50, 100 and 200) which are pointing lower in the 4 hours chat. The moving averages generate a sell signal.

Trading recommendations

We remain bearish on the pair. Once we break below the 1.2900 level, we think that the 1.2700 level will be next.



Yen

General overview

The yen slightly weakened on the back of the softer than expected GDP data of Q2.

Current situation

The dollar slightly recovered on Monday, however, we preserve a bearish outlook. The USD/JPY remained below 101.40 by the end of the trades. The resistance is at 101.40, the support comes in at 100.40.

MACD decreased which confirms the strength of sellers. RSI is neutral.

The price remained below the 50-EMA which extended lower. The 50-EMA acts as a resistance for the pair. The moving averages (50, 100 and 200) direction is downwards.

Trading recommendations

The overall outlook remains bearish, for a fall towards 100.40 support area.



Brent

General overview

The Brent grew and reached the 3-week high on the expectations of the OPEC meeting next month.

Current situation

Brent strengthened, the price traded in an upper channel and approached its upper limit by the end of the trades. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

MACD is in the positive area. If MACD remains positive buyers’ positions will strengthen. RSI entered the overbought area.

Brent futures moved away from the 200-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA in the mentioned time frame.

Trading recommendations

All eyes are right now at the resistance level 48.50. If Brent breaks the level it will keep growing towards 49.50. The instrument may pull back below 47.50 which is a good chance to buy on a dip.



S&P 500

General overview

Wall Street traded higher on Monday, the stocks set new all-times highs on the back of strong oil futures.

Current situation

Traders pushed the index higher and S&P500 was able to escalate up to 2190. The resistance is seen at 2200, the support is at 2180.

MACD remained in the positive area. The histogram grew which indicates the buyers’ strength. RSI moved away from the overbought area and stopped in a neutral area.

The 50-EMA moved away from the 100-EMA in the 4 hours chart. The price is still well above its moving averages. The moving averages are moving upwards in the mentioned time frame.

Trading recommendations

If a bullish momentum is preserved the index will continue setting new highs. The next buyers’ target is the mark 2200.



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

 

"Fort Financial Services"- fundamental and technical analysis.

17.08.2016

EURUSD

The European currency was finally able to break through a strategic 61.8 Fibonacci extension level (minimum-maximum uptrend of 2000-2008), which takes place in the region of EUR 1.1995 level. This means that in the medium-long term market returns to the bull trend. The fundamental picture is favorable toward this. The US dollar continues to lose ground, weakening against other major currencies. Dollar index has dropped in the area of two-month lows below 95 and 94 points. The negative dynamics of the USD is basicaly due to a decrease in the likelihood of rate hike in this year by the Fed. Today's statistics showed that US inflation remains at current boundaries. US consumer price index in July rose 0.1% compared to June, below expectations of analysts, who had forecast an increase of 0.2%. On the contrary, strong data from Europe supported the European currency. Nevertheless, we believe that resistance at 1.1322-1.1330, will not be passed immediately, and the market expects a pullback and consolidation in the 1.1195-1.1235 area, the old resistance area, which now acts as a strong support. In the medium term, we expect the pair is to gain to the area EUR1.1440-EUR1.1500



USD / JPY:

Today during the Asian session, the Japanese Yen continued to strengthen due to the US dollar weakening. USD / JPY pair is trading near an important strategic level of JPY100. As a result of downward movement the markets now below JPY100.77 support level. The probability to go lower seems to be valid, for the weakness of the US dollar promotes it. However, we believe that the pair is kind oversold and a psychological level of JPY99.90-JPY100 will continue to restrain the downward movement. Before going lower we shall see at least one more pullback upwards. From a technical point of view, at the American session, the pair turned to correction and rolled back into the area JPY100.42 JPY100.77 where we can expect the resumption of sales. However, we are cautious about quick passage JPY100-99.90 level.



XAUUSD:

From a fundamental point of view, the situation in the gold market develops interestingly. It is possible that the main phase of the current cycle of growth in this market is behind us. Reduced likelihood of a rate hike this year in the US- is a negative factor for precious metal. At the same time, the gradual return of risk appetite transfers the capital out of the gold market in the stock assets. Nevertheless it from a technical point of view, gold is trading in the mid-channel of 1335-1358 and we expect that some time the gold market will remain in this range. However, we note that the probability of testing the lower boundary of this range (US $ 1335 support per troy ounce) increases.



BRENT

Yesterday, Brent crude oil futures tested the level of 48.5 dollars per barrel, but failed to stay above. During the day the market was also unable to move higher. Whereas yesterday's impressive growth, there are reasons to expect a rollback on the factor of possible profit-taking. In the medium term the probability of Brent return to $ 50 area is high, at least while speculation about Energy Forum in Algeria remains in the game. From a technical point of view, the oil enters the high resistance area 48.50 -49 dollars per barrel.



S@P 500

US stock market today moved lower, retreating from historical highs. However, it may be noted that in despite restrained market dynamics and consolidation, risk appetite continues to dominate and the demand for stock assets is maintained. We expect the return to growth in the middle of the week after the Fed minutes published. From technical point of view first support is around 2176.76 points, and the next in the area of 2169 points.



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

 

"Fort Financial Services"- fundamental and technical analysis.

18.08.2016

EUR / USD

General overview

The EUR/USD trend remains bullish as pair is trading above the 61.8 Fibonacci extension (minimum-maximum uptrend 2000-2008), which passes near the level EUR 1.1995. Market is in consolidation mode.

Current situation

Despite the fact that in the general market sentiment got worse- the correction in the stock markets and the US currency gains, today the EURUSD pair is trading steadily at EUR 1.1270, consolidating after yesterday's growth from EUR1.1180 to EUR 1.1323

Trading recommendations

We expect ranged consolidation trade between 1.1195-1.1235, the old resistance area, which now acts as a strong support, and resistance area 1.1300-1.1322 and above.



JPY / USD

General overview

Today during the Asian session, the USDJPY has successfully implemented our yesterday's forecast. The pair pulled back to JPY100.77 and further to the area of 101.14, where stops and limits got triggered to lead USDJPY back to JPY100.74. In addition to the US dollar gains caused by Dudley speaking, the Japanese currency has been weakened by Japan Minister who said that financial authorities are ready to intervene if the exchange rate levels will be inappropriate.

Trading recommendations

According to our forecasts, this market will be trading around the 100.77 level and within the limits JPY99.90-JPY101.67 range for some time. The negative downward trend is intact.



XAU / USD

General overview

Gold continues to trade within a medium-term channel $1335- $1358.

Current situation

Today gold market consolidate at the level of the balance price of this range at $1344. Trading activity during the day is reduced, for some time gold will stay consolidated within this range.

Trading recommendations

We note that the chance for downward consolidation breakout increased. (support at $1,335). However the likehood of the Fed rate hike can dramatically change the balance of power in this market.



BRENT OIL

General overview

Yesterday oil quotes came close to the resistance level of 49 dollars per barrel. After 4 days of growth, the market looks overbought and correction seems possible. US dollar gains will put pressure on the oil market as well. Published today, the data from US Information Energy Agency shows that last week, crude oil inventories have fallen by -2.508 million barrels, while analysts expected an increase of 0.522 million barrels.

Trading recommendations

The publication of the last Fed meeting protocols can also exert a strong influence on the oil market. However at the American session markets keeps on gaining trying to settle above $49.



SP 500

General overview

Concerns that the Fed will hike rates broke out with renewed vigor. Data on industrial production and the construction of US homes were positive, though accepted by the market negatively. American markets shifted to correction. The news of a possible rate hike in the US in the near future can dramatically change the market sentiment and lead to a weakening of risk assets demand and strengthening of the American currency.

Current situation

Today, mini SP 500 futures continue to show a negative trend, testing the key support level of 2167-2170 points. Market sentiment is negative.

Trading recommendations

The market is testing the important support level of 2170 points. The passage of this level will trigger a further longs sale -off dropping the market to 2160 and beyond 2150 points.



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

 

"Fort Financial Services"- fundamental and technical analysis.

19.08.2016

EUR / USD

General overview

A further weakening of the US currency brought EURUSD pair up from yesterday's consolidation levels. The current upward trend in the EURUSD market persists and is gaining momentum.

Current situation

Growth is restrained by a significant resistance level of EUR 1.1320. Support zone is located in the Eur 1.1207-Eur 1.1230.

Trading recommendations

We do not exclude the possible rollback from EUR 1.1320. Long positions are suitable on passing and confident settlement above this level.



JPY / USD

General review

During the Asian session, the pair USD / JPY, fell to a new level of support JPY99.90, ending yesterday's technical pullback upwards. Japanese data were contradictory. Japan's trade surplus in July amounted to 514 billion, which is almost twice more what economist expected - 248 billion. Japan imports volume (y/y) decreased by -24.7%, while expectation was a decline of -20.6%.

Current situation

Today, the pressure on the Japanese currency strengthened. The next support level – is local minimum at JPY98.93.

Trading recommendations

The market is bearish and is trading at local minimums . We are not sure of further dropping. However, passing level JPY99.90 will sends the quotes lower.



XAU / USD

General review

Gold continues to trade within a medium-term channel $ 1335- $ 1358. A further weakening of US dollar sent a quotation in the upper range of the specified Range. Consolidation continues. Trading activity is below average.

Trading recommendations

Exit from the consolidation is delayed. Inside channel trading with short stops is preferable.



AUD / USD

General review

The data on Australia economy keeps on appearing - the number of jobs grew by 26.2 thousand in July, higher than the forecasts. The level of the Australian unemployment rate fell in July to 5.7%, from 5.8% in June.

Current situation

The Australian dollar finished yesterday's correction and on Daily is trying to stay above the significant 0.7670 level. Prospects for further midterm growth are strong at least to 0.7820.

Trading recommendations

if market close above 0.7620 is it likely to gain futher.



NZD / USD

General review

The New Zealand dollar came close to strategic resistance 0.7300-0.7320. In case of breakdup we can talk about the medium-term bullish trend to 0.75-0.76.

Trading recommendations

We consider it reasonable to wait for the development of the current situation in the market and remain flat- uncertainty is high. Longs only after the passage and settlemnet above 0.7310-0.7315



BRENT

General review

Contrary to our expectations the overbought oil managed to consolidate above $ 49 and reached the area of $ 50 and then $ 50.25

Current situation

It looks like the market is moving up to the local maximum of 2016 years- $ 51 per barrel. Yesterday, the market was supported by inventory data. However, the annual level of the US oil production is still declining. It is a kind a sign of speculative component in this movement.

Trading recommendations

The rally in the oil market continues. Near term resistance is at $ 51 per barrel area. Support is around $ 49-67- $ 49



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

 

"Fort Financial Services"- fundamental and technical analysis.

22.08.2016

EUR/USD

General review

Today the pair EURUSD, resumed its decline, after new Dudley and Williams comments has confirmed its position on rate hike in the near future.

Current situation

Technically, there are no reversal signals and the pullback seems to be correction however pair EURUSD may fall to the key support level of 1.1113.

Trading recommendations

At the same time, the medium-term upward trend still persist- in which the immediate goal of the bulls is a key resistance level of 1.1461.



JPY/USD

General review

During the Asian session USD / JPY has strengthened against the background of the general growth of the dollar.

Trading recommendations

The probability of a corrective pullback saved up for testing of a key resistance level JPY101,01



XAU/USD:

General review

Gold quotes fell to the lower border of the medium-term range 1336-1358.

Trading recommendations

On the four-hour chart a reversal candle pattern has formed, after which there is a probability of correction upwards, to the upper limit of the range. In case of breakdown, the upward movement to the key resistance level of 1357.64 will follow.



Brent

General review

Oil prices continue to rise and today quotes test key resistance level of 51.01.

Trading recommendations

In case of breakdown and consolidation above $ 51, the bulls can move the market, towards the key resistance level of 53.53. In the case of rebound from the key resistance level of 51.01, we can expect a downward correction to the key support level of 48.01.



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

 

"Fort Financial Services"- fundamental and technical analysis.

23.08.2016

EUR / USD

General review

The pair EURUSD opened with a slight downward gap at the beginning of the session, but market played back most of the losses and return to resistance level 1.1312-1.1320 area.

Current situation

Last week the final consolidation above 1.1320 failed to happen. Today's upward pullback from 1.1272 to 1.1312 could be a result of the closing stops.

Trading recommendations

EUR/USD trend remain bullish as pair is trading above the 61.8 Fibonacci extension. However, the situation is not clear – upward and downward movements are both possible- we stay out of the market to clarify the situation.



USD / JPY:

General review

USD/JPY pair has greatly strengthened during the Asian session today amid strengthening of the US dollar. Yesterday the FED official Fischer voiced the opinion that the regulator is to return to interest rate hike before the end of this year.

Current situation

The gap was formed at the start of trading day as USDJPY market opened close to 100.77-resistance level. This was followed by a pullback, but the gap was not filled- which might be a strong bullish signal. During the European session, the USDJPY pulled back to 100.32.

Trading recommendations

In today's market uncertainty, we expect the range trading within 99.90-107.78



AUD / USD

General review

During the Asian session, the pair AUD / USD, dropped below the key resistance level of 0.7672. At the end of the previous week's market AUDUSD failed to consolidate above 0.7672, which could mean the development of medium-term growth. We do not exclude attempts to test this level in the near future.

Current situation

In terms of technical analysis, it is preferable to wait for consolidation with the possible development of the downward correction. Close support area is at 0.7540-0.7580 levels



XAU/USD:

General review

Amid US dollar gains, the gold price have made an attempt to exit dawnward from the medium-term channel 1.1336-1.1358.

Current situation

Gold is testing the lower boundary of the medium channel at 1336,

Trading recommendations

The development of a downward movement is likely if the market close below 1.1333-1.1336. However, we expect a short-term return of into the designated channel on technical factors.



Brent

General review

Oil has completed the last week in the area of 51 dollar per barrel.

Current situation

After a week of growth, the expected correction began to implement. Talks about a possible increase of the Fed rate, and the US dollar gains - will put pressure on the oil market.

Trading recommendations

We're careful with predictions about the depth and strength of correction. Nevertheless, the nearest support is in the area of $ 49 per barrel.


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

 

"Fort Financial Services"- fundamental and technical analysis.

24.08.2016

EUR/USD

General review

EURUSD, slightly weakened, after a positive start of today trading, amid a mixed statistics for the euro area.

Current situation

On H4 chart, there is reversal candle pattern, appeared after pair pulled back to the key level 1.1320 area.

Trading recommendations

Middle term upward trend is still in the game. As the closest resistance level is the area of 1.1461. However, in the current situation of uncertainty we remain out of the market.



JPY/USD

General review

Business activity index in Japan manufacturing sector in August increased to 49.6 against 49.3 in July. During the Asian session, the pair USD / JPY, continued to drop.

Current situation

The pair remains within the range we marked 99.91-101.78. We expect the market will again rebound from the bottom level of the range of 99.91 and to pull back at least to the balance area of 100.30.

Trading recommendations

At the same time we note that the probability increased that USDJPY will trade below 99.70-99.90 support minimum, to renew local minimums.



XAU/USD:

General review

In the Asian session gold returned within medium-term range 1336-1358.

Current situation

However, gold remains under pressure-the last pullback might be triggered by closing stops. Returns above 1346 will mark the strengthening of bull positions.

Trading recommendations

We expect the consolidation to continue with returning to balance level of the range 1.1345



AUD / USD:

General review

After yesterday's growth and the opening gap filling, the market continued to gain, as pair returns to the key level of 0.7660.

Trading recommendations

We expect the movement to slow down in front of 0.7660 resistance level and the kind of consolidation. However, attempts to settle above 0.7660 are likely.



BRENT:

General review

Oil prices continue to decline, amid investor concerns over rising supplies from Iraq and Nigeria, as well as growth in the number of drilling rigs in the United States.

Trading recommendations

The oil market continues to drop and today traded at around $ 48.70. US Inventory data is in the focus tomorrow. Today we expect the consolidation in the range of 48.50-48.70 dollars per barrel, followed by a transition to a relative growth.



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

 

"Fort Financial Services"- fundamental and technical analysis.

25.08.2016

EUR/USD

General review

EUR/USD was unable to consolidate above the important 1.1320 level.

Current situation

Today, the pair EUR/USD, started to lose, thus breaking through and consolidating below the important 1.1320 level. The pair is heading toward 1.1245 level

Trading recommendation

We expect the EURUSD dropping to slow down near the support level of 1.1245. Nevertheless, in the wake of the European currency the weakening the market may drop to the basic support level at the 1.1195-1.1210 area



JPY/USD

General review

According to our forecast the USDJPY continues to trade within the range of 99.90-100.78

Current situation

Trading activity is low. Since the morning European session USDJPY trades around the median level of the specified range 100.30-100.40

Trading recommendation

We expect that by the end of the week the pair will continue to consolidate within the boundaries of the specified channel. Meanwhile, the level of 100.78 has become a significant resistance level.



XAU/USD:

General review

As we expected during this week gold has begun to breakthrough from the medium-term channel 1.1356-1.1358 with downward direction

Current situation

After breaking through the resistance zone of 1.1330-1.1336 market is dropping lower.

Trading recommendations

The next support zone is located near 1.1320-1.1325. We expect that the market is moving towards these levels. Strategic support is around 1.1310



AUD / USD:

General review

Yesterday, the pair failed to consolidate above the level of 0.7676- traders used to the level for new sales.

Trading recommendations

Technically the picture is composed in favor of further decline. The first significant level of support is in the 0.7496-0.7500 area.



BRENT:

General review

Oil prices resumed the decline after a rollback of in the area of $ 50 a barrel. The American Petroleum Institute (API) said on Tuesday that US crude stocks rose 4.5 million barrels last week.

Current situation

Price is consolidating in anticipation of the official data on crude inventories by US Department of Energy above the level of $ 49 per barrel.

Trading recommendations

If the figures will be similar to API data, this might lead the market in the area of $ 48- $ 48.50



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

 

"Fort Financial Services"- fundamental and technical analysis.

26.08.2016

EUR/USD

General review

Yesterday, the EUR/USD pair showed downward movement, breaking and consolidating below 1.1291 level. At the same time, today, after the publication of business climate index in Germany, the pair EURUSD, significantly strengthened, returning to the level of 1.1291. Today US data showed that core orders for durable goods rose in July by 1.5%, compared to June, exceeding the expectations of analysts. The volume of durable goods orders in the US is growing faster, adding 4.4% in July, compared to June, with growth forecasts of 3.3%. The number of initial claims for for unemployment benefit in the US totaled 261,000, with projections of 265,000.

Current situation

Pushing back off the level 1.1245 the pair become stronger in the area of 1.1295. Market activity has been reduced.

Trading recommendations

We expect consolidation trade within the boundaries of 1.1245-1.1325, 1.1340. At least before the head of FED speech.



JPY/USD

General review

The market situation in USD/JPY currency pair has not changed.
The pair continues to consolidate within the channel 99.90-100.79. Yesterday the pair USD / JPY, has once again pushed off the bottom border.

Trading recommendations

Our forecast remains the same- we expect sideway trade until the results of Yellen speech. However, the likelihood of the continuation of the downward movement after consolidation given the technical factors become higher.



AUD / USD

General review

Yesterday, on the daily chart the AUD/USD formed a doji reversal pattern, and then, during the Asian session, bulls resumed growth to the test 0.7650. Support is in the area of 0.7595. Resistance area is at 0.7650-0.7660

Trading recommendations

The market will continue to consolidate in the specified range. However, technical factors indicate the possible pullback to the area 0.7500-0.7550.



XAU/USD

General review

During yesterday's trading, gold price sharply dropped breaking and consolidating below the level of 1335, -1336.

Trading recommendations

We expect the gold decrease will continue. Next support is around 1315 to 1309.



Brent

General review

Today oil prices is a bit stronger, despite yesterday's data on US oil inventories.

Current situation

Brent oil futures returned above the level of 49 dollars, approaching the psychological level of $ 50 per barrel. The market strengthened on strong today US data.

Trading recommendations

In addition to Yellen performance, the market will focus on the US statistical date. We expect the decline in volatility and further consolidation on these levels before Friday's news.



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

 

"Fort Financial Services"- fundamental and technical analysis.

29.08.2016

EUR / USD

General overview

EURUSD pair shows a positive trend, the second day in a row.

Current situation

At the same time, the buyers are not strong enough to settle above the key resistance level of 1.1291,

Trading recommendations

There is a possibility of correction, towards the key support level of 1.1113



USD / JPY:

General overview

Japan national base index of the consumer prices (y / y), was -0.5% in July, with forecasts of -0.4%. The base consumer price index in Tokyo (y / y), was 0.4%, the forecast of -0.3% in August.

Current situation

Volatility for the pair USD / JPY remains very low- most of the participants are out of the market in anticipation of Yellen speech. In the current situation, buyers and sellers are in balance, as the price is around the middle level of the channel 100.30-100.40.

Trading recommendations

After today weak statistics data, there was a small probability of correction upwards, on expectations of new stimulus measures by the Bank of Japan. Nevertheless, exit of the consolidation is based on Yellen performance and much will depend on its words.



AUD / USD:

General overview

The pair continues to consolidate in a narrow range 0.7600-0.7650. The situation is not clear- breaking from consolidation can be in any direction.

Trading recommendations

We tend to think that before AUDUSD test the key level of 0.7660 the pair will drop down to levels 0.7500-0.7550.



NZD / USD:

General overview

The pair NZD / USD is continuing a slow but steady growth moving along a rising trend line.

Current situation

In NZD/USD market bulls have moved the price above the key resistance level 0,7300-0.7314.

Trading recommendations

However, there was not confirming settlement signal still; we do not exclude a pullback on volatility.



XAUUSD:

General overview

During yesterday's trading, gold moved to insignificant correction, the market pulled back to levels of 1325, which could be due to profit-taking and short covering before Friday's session.

Trading recommendations

We expect pullback to procced to 1310-1315 levels where the medium-term demand is located. However, the second half of the day promises to be volatile.



Brent

General overview

The oil market has stabilized in the support level of 49 dollars per barrel. At the same time moving above also failed. The news background still provides speculative driver for growth (the upcoming Energy Forum in Algeria, Iran's readiness to cooperate with OPEC). Fundamental factors are opposite to market gains (crude inventories rise in the United States).

Trading recommendations

FED position on interest rate hike will help to get out of consolidation- much will depend on US dollar market. We look forward to continuing consolidation in these ranges. $49-$51 – market range for upcoming week.




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

 

"Fort Financial Services"- fundamental and technical analysis.

30.08.2016

Euro

General overview

The dollar was stable on Monday on the back of J.Yellen's comments plus previous comments by FOMC’s officials which intensified expectations of a potential rate hike by the Fed at the September meeting.

Current situation

The EUR/USD continued to decrease on Monday and found a decent support in the 1.1170 area in the North American session. The resistance is seen at 1.1200, the support stands at 1.1130.

The indicators MACD and RSI resumed their declines within negative territory. MACD indicates the sellers’ strength. RSI entered the oversold area.

The price broke downwards the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are turning downwards and generate a sell signal.

Trading recommendations

All eyes are right now at the support level 1.1130. If the price breaks this support, the instrument may fall further that should send this market looking for the 1.1070 level.



Pound

General overview

The GBP/USD was under pressure on Monday. The market was closed due to the Banking holiday and sterling traded under influence of external factors.

Current situation

The pound extended its decline against the U.S dollar on Monday. The pair broke the 1.3100 level and consolidated below it. The current resistance is seen at 1.3100, the support exists at 1.3000.

The indicators (MACD and RSI) are negative. MACD generate a sell signal. The RSI is oversold which signals about a possible correction.

The price broke the 50 and 100 EMAs in the 4 hours chart, however, the pound did not move far from the lines and stayed below them. The moving averages are turning downwards and generate a sell signal.

Trading recommendations

We remain bearish on the pair. Once we consolidate below the 1.3100 mark, we think that the 1.3000 level will be next.



Yen

General overview

The dollar grew to the 2-week high on the back of the renewed hopes that the Fed might raise the rates in September. Japanese stocks supported the dollar as well.

Current situation

The USD/JPY gapped higher and extended its gains on Monday. The pair found a solid resistance at 102.50 which did not let the price further upwards. The resistance is at 102.50, the support comes in at 101.40.

MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is in the overbought area. Both indicators generate a buy signal.

The USD/JPY broke the 200-EMA and headed away from it in the 4 hours chart. The moving averages (50, 100 and 200) are turning upwards.

Trading recommendations

The overall outlook remains bullish, for a growth towards 102.50 resistance area.



AUD/USD

General overview

AUD fell due to Fed officials’ comments about strengthening the monetary policy in the nearest future.

Current situation

The pair touched a four-week low on Monday, however, AUD/USD managed to recover some of its lost ground. The resistance is at 0.7600, the support comes in at 0.7540.

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

The 4 hours chart shows that the price is below the 50, 100 and 200 Day EMAs. The 200-EMA is neutral, the 50 is crossing the 100 EMA downwards and both lines are moving down.

Trading recommendations

We believe the AUD/USD will remain under pressure. The current weakness is expected to extend further to 0.7470.



XAUUSD

General overview

The dollar grew following the Yellen’s hawkish comments which weighed on the gold futures.

Current situation

The XAU/USD gapped downwards and set new lows on Monday. The pair traded in red figures and stayed close to the level 1316. The instrument partly recovered in the North American session. The resistance is at 1330, the support comes in at 1316.

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

The 50-EMA is crossing downwards the 100 and 200 EMAs in the 4 hours chart. The moving averages are moving downwards which is a sell signal.

Trading recommendations

The overall outlook remains bearish, for a decrease towards 1316 support area.



Brent

General overview

Brent remained under pressure as traders doubt that the OPEC members will limit oil output at the September meeting.

Current situation

Brent futures closed bearish yesterday. The instrument remained in a side channel between 49.00-49.50 levels during the trades. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel.

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.

Brent futures broke the 50-EMA in the 4 hours chart. The 100-EMA broke the 200-EMA upwards in the mentioned timeframe. All lines are still moving upwards.

Trading recommendations

In the near term, the outlook is neutral until we get Crude Oil Stock report on Thursday.



DAX

General overview

European stocks were under pressure as traders digested the latest Yellen’s comments about possible rate hike by the Fed.

Current situation

The index was neutral and stayed close to the 10520 level on Monday. The price traded in a narrow side channel limited by the levels 10468 and 10560. The resistance is seen at 10520, the support lies at 10350.

MACD decreased which confirms the strength of sellers. RSI is neutral.

The 4 hours chart shows that the price is sandwiched between the 50 and 100 EMAs. The 50-EMA is turning downwards, the 100 and 200 Day EMAs are still moving upwards. The moving averages still generate a buy signal.

Trading recommendations

The level 10520 stays between the price and its further decrease. Shall the index break the level and the road towards 10350 will be opened.



S&P 500

General overview

Wall Street traded higher on Monday due to U.S inflation and consumer reports.

Current situation

The index rallied on the back of the positive data on Monday. Traders were able to push the price from the level 2165 to the 2180 mark. S&P500 closed the day bullish. The resistance is seen at 2180, the support is at 2165.

MACD is in the negative area. The indicator grew which indicates the sellers’ positions weakening. RSI moved away from the oversold area and approached the overbought one.

The price bounced upwards from the 200-EMA in the 4 hours chart. The index grew and managed to touch the 50 and 100 Day EMAs. The moving averages are moving upwards which is a buy signal.

Trading recommendations

If a bullish momentum is preserved the index will continue growing. The next buyers’ target is the mark 2180.



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

 

"Fort Financial Services"- fundamental and technical analysis.

31.08.2016

Euro

General overview

The dollar is strong due to the latest J.Yellen’s comments about growing possibility of the Fed rate hike.

Current situation

The pair traded near the fresh lows on Thursday. The price stayed below the broken 200-EMA and the current support at 1.1150 in the 4 hours chart. Traders were inactive ahead of the upcoming statistics in the USA. The 200-EMA is neutral while the 50 and 100 Day EMAs are turning down. In the 1 hour chart the 50, 100 and 200 EMAs present a strong bearish slope. The 50 and 100 Day EMAs are crossing the 200-EMA downwards. The moving averages generate a sell signal. The resistance is seen at 1.1200, the support stands at 1.1130.

The indicators MACD and RSI remained flat within negative territory, maintaining the risk towards the downside.

Trading recommendations

The trend is objectively bearish. If the price remains below the 200-EMA and the 50 and 100 EMAs will advance south in the 4 hours chart we may see a downtrend continuation. The level 1.1130 is the first sellers’ target.



Pound

General overview

Pound weakened on Thursday following the weak data. At the same time the U.S dollar is strong on the back of the expectations that the Fed will raise the rate this year.

Current situation

The GBP/USD fell back towards its weekly low on the earlier Thursday's trades; however, the sterling regained some of its losses in the American Session. The current resistance is seen at 1.3200, the support exists at 1.3100.

The indicators (MACD and RSI) are negative. MACD generate a sell signal. The RSI bounced from the oversold area.

The price returned below the 50-EMA in the 4 hours chart. The 50 and 100 EMAs are moving close to each other in the mentioned timeframe. The 200-EMA is hovering above them. All lines are moving downwards and show a sell signal.

Trading recommendations

The indicators recommend short positions. A downtrend will start as soon, as the pair falls below the support level 1.3050.



Yen

General overview

The pair grew on Thursday when Overall Household Spending did not meet traders’ expectations. Besides, positive Consumer Confidence index strengthened the dollar across the board.

Current situation

The USD/JPY traded near fresh 3-week highs. The growing impulse continued, the instrument accelerated its growth. The 4 hours chart shows that MACD and RSI are flat within positive territory. The price advanced north from the 200-EMA. There are some risks towards the upside now. The resistance is at 103.50, the support comes in at 102.50.

Trading recommendations

This loss of the 102.50 level is now pointing to a further period of upward movement to come. The level 103.00 is the first buyers' target. However, the USD/JPY is oversold and we expect an upside any moment now. Should the pair roll back we will sell with a target at 101.40.



NZD/USD

General overview

The NZD/USD pair was under pressure as the fresh hopes for a U.S. rate hike in 2016 continued to weigh on the kiwi.

Current situation

The NZD/USD remained under pressure. The price continued to grind lower after an unsuccessful attempt to regain the 0.7250 level. Buyers were just able to push the quotes towards 0.7260 where sellers got the ball and lead the price down. The resistance is at 0.7250, the support comes in at 0.7150.

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

The pair left behind the 100-EMA and is trending towards the 200-EMA which acts as a support for the price. The 200-EMA is still bullish, the 50 and 100 Day EMAs are turning down fallowing the price.

Trading recommendations

Moving below the 0.7270 support (100-EMA) would suggest a resumption of the bear trend. The NZD/USD shall decrease to the 0.7180 region where the 200-EMA lies. A successful break of the 200-EMA will prolong a downtrend towards 0.7150.



XAUUSD

General overview

Gold softened due to the latest Fed officials’ remarks about the next U.S. rate hike.

Current situation

The tone is still negative in the market, the pair closed bearish yesterday. Sellers met a solid support at the 1316 mark which were not able to break at once. The price rolled back to 1325.40 where the XAU/USD turned around and returned back to the support level. The resistance is at 1330, the support comes in at 1316.

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

The 50, 100 and 200 EMAs present a strong bearish slope. The moving averages are trending downwards which is a sell signal.

Trading recommendations

The XAU/USD is now under the risk of falling under the level of 1316. A break below this mark risks a decline back towards the support at 1310.



Brent

General overview

Traders focused on the weekly report on U.S stockpiles of crude and refined products. Better-than-expected U.S. Consumer Confidence index supported the dollar and weighed on Brent futures.

Current situation

Brent showed low volatile trades during Asian and European sessions on Thursday. The instrument became active in the American session where the price had a sharp drop from the resistance 49.50 to the support at 48.50. 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 advanced to the oversold area.

Brent futures bounced from the 50-EMA and approached the 100-EMA in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are pointing upwards. The moving averages do not give a clear signal.

Trading recommendations

We are bearish on the Brent. All eyes are right now at the support level 48.50. If Brent break the level, the price may fall to the 47.50 level.



Nasdaq

General overview

Wall Street traded lower on Thursday as traders waited for new clues for the possible rate hike from the Fed.

Current situation

The technical picture presents a bearish tone. Bears are gradually gaining more overall control. Traders led the price from the level 4800 to the support at 4770. The instrument bounced from the 100-EMA in the 4 hours chart. The 50-EMA is crossing the 100-EMA downwards. The 100 and 200-EMAs are trending upwards, the 50-EMA is pointing downwards. The resistance is seen at 4800, the support lies at 4770.

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

Trading recommendations

If Nasdaq makes a breakout of 4770 that may trigger an additional downward momentum towards 4740.



S&P 500

Current situation

The index had a negative day on Thursdays. The price moved away from the resistance 2180 towards the support at 2165. The instrument bounced downwards from the 50 and 100 Day EMAs which are parallel to each other. The S&P500 is in-between the 200-EMA and the 100-EMA in the 4 hours chart. The resistance is seen at 2180, the support is at 2165.

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 moved away from the oversold area and is neutral now.

Trading recommendations

The index now seems to be heading towards its immediate support near 2165. Break below 2165 would open the way to 2150




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

 

"Fort Financial Services"- fundamental and technical analysis.

01.09.2016

Euro

General overview

A better-than-expected US ADP survey increased the prospect of the Fed interest rate hike.

Current situation

The dollar preserved a bullish tone across the board. The pair tested fresh 3-week lows on the back of a better-than-expected ADP private employment survey. In general, the EUR/USD stays in a downward channel, advancing south. The price moved away from the 50, 100 and 200 Day EMAs in the 4 hours chart. The 50 and 100 EMAs are moving downwards, the 200-EMA is just turning down. The MACD and RSI indicators maintain bearish slopes within negative territory. The resistance is seen at 1.1200, the support stands at 1.1130.

Trading recommendations

The price stays at the support 1.1130. If the EUR/USD pair breaks below this level, then this could lead to renewed selling momentum, possibly towards 1.1070.



Pound

General overview

Positive Consumer Confidence in the UK slightly supported the pound. The index came in at -7 vs. expectations of -8. However, a strong US ADP report weighed on the sterling and the pair resumed its decrease.

Current situation

The GBP/USD pair showed a mixed dynamics on Wednesday. At first the price grew in the Asian session, then, the instrument turned around and resumed its decrease in the European and North American ones. The current resistance is seen at 1.3100, the support exists at 1.3000.

The indicators (MACD and RSI) generate a sell signal. The price is returning below the 50 and 100 EMAs in the 4 hours chart. The moving averages direction is downwards which is a sell signal.

Trading recommendations

We are looking for the 1.3100 level break and then continuation of a fall with a further target at 1.3000.



Yen

General overview

The dollar grew vs. the yen due to the latest Fed officials’ comments and the release of encouraging US employment data.

Current situation

The pair had a positive day on Wednesday. The price kept advancing towards the 103.50 resistance. MACD is heading north within positive territory, RSI is in the overbought territory. The 50, 100 and 200 EMAs accelerated their advance north which is a buy signal. The resistance is at 103.50, the support comes in at 102.50.

Trading recommendations

According to the indicators the price is overbought. There is a risk towards the upside. After the break above 103.50, we may see the price extending up to the 104.50 level. In case of the upside the USD/JPY shall return below the 102.00 region.



USD/CAD

General overview

A better-than-expected US ADP Employment survey and disappointing Canadian GDP for Q2 weighed on the Canadian dollar.

Current situation

The pair resumed its bullish momentum and set a fresh 3-week high which is the highest level since August 10th. The USD/CAD could escalate up to 1.3133. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is in the overbought territory. In the 4 hours chart the price is advancing from the moving averages which are turning upwards to follow the price. The resistance is at 1.3200, the support comes in at 1.3100.

Trading recommendations

We expect markets to stay fairly positive. In this potential scenario, the next stop for the USD/CAD could well be around 1.3150. Conversely, the instrument can turn around. In this scenario, sellers will push the price to the 1.3050 region.



XAUUSD

General overview

The XAU/USD traded close to the 2-month low level as investors awaited for the U.S. statistics to evaluate if its economy was ready for a rate hike.

Current situation

The pair remained in a downward channel, close to its lower boundary. The instrument stayed below the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs accelerated their declines in the mentioned timeframe. All moving averages kept heading lower. The resistance is at 1316, the support comes in at 1300.

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

Trading recommendations

The pair presents a bearish tone, all indicators recommend short positions. If the gold futures preserve downward momentum its next stop could well be at the 1300 region.



Brent

General overview

The crude oil fell to the 3-week low when oil supplies in the U.S. rose for the second week in a row.

Current situation

The crude oil is under intense selling pressure. The sellers managed to lead the price from the resistance 48.50 to the level 47.50. The price did not remain at 47.50 and continued advancing south. MACD and RSI slightly changed from yesterday. The indicators generate a sell signal. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

The price broke the 100-EMA on its way down in the 4 hours chart. The instrument is approaching the 200-EMA now. The 50-EMA is moving down, the 100 and 200 EMAs are still heading north.

Trading recommendations

If the price keeps going down it will reach the level 46.50 soon.



DAX

General overview

European stocks moderately decreased, finishing the second month in a row with a growth.

Current situation

The index finished the day negatively despite the positive trend. The price stepped away from the weekly high at 10700. DAX is approaching the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are moving upwards. The resistance is seen at 10700, the support lies at 10520.

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

Trading recommendations

DAX may decrease to the support 10520 where the 50 and 100 EMAs lie.



S&P 500

General overview

American stocks opened lower on Wednesday as a strong dollar pressured on oil futures and materials companies.

Current situation

The index was lower on Wednesday. The S&P500 retreated from the monthly high. Sellers pushed the price from 2180 towards the mark 2165. The price broke the 200-EMA. The 50, 100 and 200 EMAs are moving upwards. The resistance is seen at 2180, the support is at 2165.

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

Trading recommendations

In the medium term, the outlook is bearish. If the price keeps falling it will break the level 2165. The second sellers’ target is 2150.



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

 

"Fort Financial Services"- fundamental and technical analysis.

02.09.2016

Euro

General overview

A weaker-than-expected U.S. Manufacturing PMI weighed on the dollar and supported the euro.

Current situation

In the short term our outlook is bullish. The dollar was in a flat ahead of the U.S statistics. The pair traded in a range between the support 1.1130 and the level 1.1160. After a weak Manufacturing PMI the price rallied and approached the mark 1.1200. The resistance is seen at 1.1200, the support stands at 1.1130.

The EUR/USD pair is under 50, 100 and 200 EMAs which are moving downwards in the 4 hours chart. The 50-EMA is crossing the 100-EMA in the mentioned timeframe. The moving averages generate a sell signal.

MACD shows a bullish divergence in the 1 hour timeframe. The RSI indicator headed towards the overbought area.

Trading recommendations

Technically the EUR/USD may reverse and grow towards 1.1200 and 1.1270. Otherwise, the instrument will continue falling with a target at 1.1070.



Pound

General overview

The pound rallied on the back of strong Manufacturing PMI in the UK.

Current situation

A better-than-expected Manufacturing PMI supported the GBP/USD pair. The price grew from the session lows at 1.3130 to the daily highs at 1.3270. The pair was also supported by a weak U.S. Manufacturing PMI later the day. The price finished the day in the 1.3220 region. The instrument approached 1.3360 at the start of the North American session.

The price broke the 200-EMA and headed from it in the 4 hours chart. The moving averages direction is still downwards. The lines generate a sell signal. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD grew which indicates the sellers’ positions weakening. RSI approached the overbought area.

Trading recommendations

As long as market holding above 1.3200 the uptrend pressure will continue towards 1.3360. Conversely, the price will return below 1.3200 and further below 1.3100.



Yen

General overview

The dollar remained closed to the 3-week highs ahead of the upcoming Non Farm Payrolls report.

Current situation

In general, the pair had a positive day on Tuesday. The bullish views are still popular. The USD/JPY continued to advance north and set a new daily high at 103.80. The price slightly decreased at the start of the American Session after a weak statistics. The 50-EMA is crossing upwards the 100-EMA in the 4 hours chart. All moving averages are turning upwards in the mentioned timeframe. The resistance is at 103.50, the support comes in at 102.50.

MACD shows a bearish divergence in the 1 hour chart. RSI left the oversold area.

Trading recommendations

The pair now seems to be heading towards the 104.00 level. Should the price fixate over that level and the upward trajectory will be continued to 104.50. However, the USD/JPY pair is overbought and may pull back a little. In this scenario, sellers will drag the price down below 103.50.



AUD/USD

General overview

A positive Chinese Manufacturing PMI supported the AUD/USD pair in the Asian session on Tuesday.

Current situation

The AUD/USD was able to erase some of its losses in the Asian session on Tuesday. However, when sellers returned in the European session they dragged the price down. The AUD was able to recover in the American session on the back of the weaker-than-expected U.S statistics. The resistance is at 0.7540, the support comes in at 0.7470.

The 50-EMA crossed the 100 and 200 EMAs in the 4 hours chart. All moving averages are moving downwards. MACD decreased which confirms the strength of sellers. RSI is trending towards the overbought area.

Trading recommendations

If the AUD/USD remains below 0.7540 the price may test 0.7470. Controversially, the instrument will grow to the 0.7570 region.



XAUUSD

General overview

Gold futures traded close to the 2-month lows as traders took wait and see position before the NFP report.

Current situation

The US currency took control of the flows. The gold remained under pressure on Tuesday’s trades. Sellers were able to push the price lower on Tuesday. The new session lows are marked in the 1300 region. The 50-EMA crossed the 100 and 200-EMAs in the 4 hours chart. The moving averages kept trending lower which is a sell signal. The resistance is at 1316, the support comes in at 1300 per ounce.

MACD grew which indicates the sellers’ positions weakening. RSI is heading towards the overbought territory.

Trading recommendations

Technically, a bearish tone persists in the 4 hours chart. The XAU/USD remains focused on a potential test of 1300. In case of a correction, buyers may push the price to 1316 per ounce.



Brent

General overview

Brent kept falling after a rise in U.S. crude inventories. Moreover, traders focused their attention on a world supply glut which keeps weighing on the oil prices.

Current situation

The crude oil futures are under pressure. Sellers pushed the price from the session high at 47.23 below the support at 46.50. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

The price broke the 200-EMA in the 4 hours chart. The 50-EMA is moving down, the 100 and 200 EMAs are turning downwards .

MACD and RSI are negative which is a sell signal.

Trading recommendations

We believe that Brent can advance further below 46.50. However, the instrument is oversold and it may pull back a little. The price will continue a downtrend if it consolidates below 46.50. Alternatively, buyers can push the price towards the 47.00 region.



Nasdaq

Current situation

The index pulled back a little from the weekly highs. The price moved away from the 4800 level and approached the mark 4740. The instrument pulled back from the 50-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA. The 50 and 100 EMAs are neutral, the 200-EMA is pointing upwards. The resistance is seen at 4770, the support lies at 4740.

MACD decreased which indicates the buyers’ positions weakening. RSI is moving towards the oversold area.

Trading recommendations

If the downward pressure persists Nasdaq will decrease to the 4750 region where it can pull back to 4800.



S&P 500

General overview

Wall Street opened lower on Tuesday due to negative Manufacturing PMI and negative crude oil dynamics.

Current situation

The technical picture presents a bearish tone. The price decreased from the weekly highs at 2180. S&P500 broke downwards the 200-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA in the mentioned timeframe. The moving averages are neutral. The resistance is seen at 2165, the support is at 2150.

MACD decreased which indicates the buyers’ positions weakening. RSI is moving towards the oversold area.

Trading recommendations

Sellers can take control over the market if the price consolidates below 2165. Otherwise, buyers will return the instrument upwards.



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

 

"Fort Financial Services"- fundamental and technical analysis.

05.09.2016

Euro

General overview

The dollar weakened after U.S payrolls report. Non Farm Payrolls slowed down in August and the Fed may postpone the rate hike due to the weak labour market report.

Current situation

The pair showed volatile trades on Friday. The euro suffered an increased buying pressure right after the Non-farm Payrolls release. Buyers pushed the price from the mark 1.1190 towards the resistance 1.1270 where the euro bullish spike faded and the pair dropped back to the opening price level. The pair closed bearish on Friday. The resistance is seen at 1.1200, the support stands at 1.1130.

The EUR/USD pair is below 50, 100 and 200 EMAs which are moving downwards in the 4 hours chart. The moving averages generate a sell signal.

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

Trading recommendations

The pair looks increasingly bearish now. A move below 1.1130 will strengthen sellers’ positions. If the EUR/USD consolidates over 1.1270 the upward movement may continue towards 1.1350.



Pound

General overview

Construction PMI in the UK supported the pound which stayed close to the monthly highs.

Current situation

The price rallied due to the weak unemployment data in the USA. The sterling accelerated its advance and approached the level 1.3360 on Friday. The pair set a new monthly high at 1.3350 on Friday. The current resistance is seen at 1.3360, the support exists at 1.3200. The GBP/USD pair headed away from the moving averages in the 4 hours chart. The moving averages are turning upwards after the price.

The indicators are within positive territory and support an upward extension. The MACD histogram grew which indicates the buyers’ strength. RSI is in the overbought area now.

Trading recommendations

The bullish views are getting more popular now. The pound will continue its growth if it breaks the current resistance 1.3360. Alternatively, the price will decrease to 1.3200.



Yen

General overview

The yen softened on the back of US monthly jobs report.

Current situation

USD/JPY briefly dropped below the 103.50 level and hit fresh 2-day lows right after US NFP report. The price hit 2-day low and attracted buying interest, as a result the price came back to the opening price level and then returned to a growth. The resistance is at 104.50, the support comes in at 103.50.

The price remained above the moving averages in the 4 hours chart which present a strong bullish slope. The moving averages accelerated their growth on Friday.

MACD is in the positive area. RSI approached the overbought territory. The indicators generate a buy signal.

Trading recommendations

The resistance 104.50 is the main buyers’ target right now. Sellers may regain some control if they manage to push the price below 103.50.



NZD/USD

General overview

A weaker-than-expected Non-Farm payrolls report lowered the possibility of a Fed rate hike in September.

Current situation

The NZD/USD returned to a decrease on Friday. The price spiked immediately after the U.S labor market report to a fresh weekly high. The bullish spike quickly faded and the NZD headed towards the support 0.7250. The resistance is at 0.7320, the support comes in at 0.7250.

The 50, 100 and 200 EMAs are moving upwards. The price is approaching the 50-EMA which acts as a support now. MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the overbought area.

Trading recommendations

If the NZD/USD remains above 0.7250 the price may test 0.7320 again. Controversially, the instrument will drop below 0.7250.



XAUUSD

General overview

XAU/USD grew due to risk aversion on the back of a weak US labour market report.

Current situation

Gold rallied on Friday. The yellow metal gained about 0.85% by the end of the trades. The price broke the 50-EMA and tested the 100 and 200 EMAs in the 4 hours chart. The moving averages direction is downwards. The resistance is at 1330, the support comes in at 1316 per ounce.

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

Trading recommendations

A break above the 1330 resistance would switch the market tone to bullish. Should the XAU/USD break the resistance level and the price will grow to 1340. Controversially, gold futures will fall below 1316.



Brent

General overview

Crude oil Brent got under pressure when skepticism of crude oil output freeze by the OPEC members grew in the market.

Current situation

The price bounced off the support 45.30 on Friday. Buyers were able to push the price above the resistance 46.50. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

The price broke the 200-EMA upwards in the 4 hours chart. The 50-EMA is turning around, 100-EMA is moving upwards, the 200-EMA is neutral.

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

Trading recommendations

If the price returns below 46.50 (the 200-EMA) the instrument will continue its downward trajectory. Alternatively, Brent shall grow towards 47.50.



Dax

General overview

European stocks grew when U.S. jobs growth appeared to be weaker than expected in August.

Current situation

Dax jumped to a fresh weekly high of 10731 after the Non Farm payroll report. The price broke upwards the 50 and 100 EMAs. The moving averages are moving upwards which is a buy signal. The resistance is seen at 10700, the support lies at 10520.

MACD is in the positive area. RSI approached the overbought area. The indicators generate a buy signal.

Trading recommendations

If the price breaks the resistance 10700 the index can grow to the August high at 10802. Otherwise, DAX will fall to the support 10520.



S&P 500

General overview

Wall Street closed higher last week. We believe traders will digest the weaker-than-expected payrolls report today.

Current situation

S&P500 strengthened and closed Friday bullish. The index advanced north and set a new weekly high at 2183. The instrument broke the 50 and 200 EMAs and tested the 100-EMA in the 4 hours chart. The moving averages are neutral. The resistance is seen at 2180, the support is at 2165.

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 moving towards the overbought area.

Trading recommendations

Should the price break the resistance 2180 and buyers will lead the price to the level 2190.



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

 

"Fort Financial Services"- fundamental and technical analysis.

06.09.2016

Euro

General overview

The EUR/USD strengthened on the back of the weak dollar after disappointing Non Farm Payroll report. The USA market was closed due to Labour Day.

Current situation

The pair was low volatile on Monday. The euro moved upwards in the Asian session. Then sellers were able to push the price lower in the European and North American sessions. The price remained below the 50, 100 and 200 EMAs in the 4 hours chart. All moving averages kept heading lower. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD shows divergence in the 1 hour chart. RSI is heading towards the oversold area.

Trading recommendations

If the downward pressure persists the pair will get below 1.1130. In this scenario, sellers’ next target will be the mark 1.1070.



Pound

General overview

The pound grew due to better-than-expected Service PMI and due to the weakness of the dollar.

Current situation

The pound rallied and tested the level 1.3360 on Monday. The sterling was able to set a daily high at 1.3372. After reaching the level 1.3360 the pair slightly rolled back and erased some of its gains. The GBP/USD hovered above the moving averages in the 4 hours chart. The moving averages are turning upwards. The current resistance is seen at 1.3360, the support exists at 1.3200.

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

Trading recommendations

We will place buy orders if the GBP/USD does a breakout at the resistance level of 1.3360. If the pair gets below 1.3270 the price may reach 1.3200.



Yen

General overview

The USD/JPY softened on Monday’s trades. The dollar is still under pressure after weaker-than-expected Non Farm Payrolls report. Moreover, the US market was close due to Labor Day celebration.

Current situation

The pair erased some of its previous gains on Monday. The price decreased from last week highs at 104.30 to the 103.50 region. The instrument remained above the moving averages in the 4 hours chart. The 50-EMA broke the 100-EMA and approached the 200-EMA in the mentioned timeframe. The resistance is at 103.50, the support comes in at 102.50.

MACD formed a divergence in the 1 hour chart. RSI left the overbought area, but remained within positive territory.

Trading recommendations

A break below 102.50 risks a decline back towards the support 101.40. If the USD/JPY returns above 103.50 the instrument may grow to 104.50.



AUD/USD

General overview

The AUD grew on the back of strong Company Gross Operating Profits report.

Current situation

The AUD/USD grew at the open on Monday. Buyers led the price to the level 0.7600 where the pair turned around and slightly decreased. The instrument tested the 100-EMA and remained above the line. The moving averages are neutral in the 4 hours chart. The resistance is at 0.7600, the support comes in at 0.7540.

MACD indicator is close to the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD remains in the positive area buyers will keep control over the market. RSI bounced from the overbought area.

Trading recommendations

If the AUD/USD remains below 0.7600 the price may fall to 0.7540. Controversially, the instrument will grow to 0.7600.



XAUUSD

General overview

The Gold remained close to the weekly high as disappointing US labor report diminished expectations for another rate hike in 2016.

Current situation

XAU/USD traded close to the weekly high on Monday. The price was at the 200-EMA in the 4 hours chart. The moving averages are turning upwards. The resistance is at 1330, the support comes in at 1316 per ounce.

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

Trading recommendations

The pair will presume its upward trend if it breaks the resistance 1330. If the instrument gets below 1316 sellers will lead the price to 1300.



Brent

General overview

Oil prices grew after reports that Saudi Arabia and Russia will cooperate to support the market.

Current situation

Brent showed volatile trades on Monday. First, it jumped to the monthly peaks and set a new high at 49.50. Then, the price turned around and sharply fell below 47.50. The price returned some of its losses and slightly grew during North American hours. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

The price is between the 50 and 200 EMAs in the 4 hours chart. The 50-EMA is crossing the 100-EMA in the same timeframe.

MACD grew which indicates the sellers’ positions weakening. RSI left the overbought area.

Trading recommendations

If the price returns above 48.50 the Brent futures will continue its uptrend. Alternatively, Brent will decrease below 46.50.



Dax

General overview

European stocks traded higher on Monday as markets digested Friday's disappointing U.S employment report.

Current situation

DAX traded close to the recent highs and spent the day in the 10700 region. The price slightly grew above previous week’s top in the European session and decreased in the American one. The resistance is seen at 10700, the support lies at 10520.

MACD is in the positive area. RSI is close to the overbought area.

Trading recommendations

The index may decrease to 10520 soon. If the price breaks the level the downward movement may continue to 10350. Controversially, the instrument will grow above 10700.



S&P 500

General overview

Wall Street was closed on Monday due to Labor Day celebration.

Current situation

S&P500 slightly changed on Monday. The price stayed at previous week’s high and slightly decreased by the end of the trades. The instrument broke the 100-EMA and touched the 50-EMA in the 4 hours chart. The 50-EMA is breaking the 100-EMA downwards. All moving averages are moving downwards. The resistance is seen at 2180, the support is at 2165.

MACD is in the positive area. RSI bounced from the overbought area.

Trading recommendations

An uptrend will start as soon, as the index rises above the resistance level 2180. S&P500 may drift below 2165 to test 2150 support area.



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

 

"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