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"Fort Financial Services"- fundamental and technical analysis.

18.10.2016

Euro

General overview

The dollar grew against its main rivals to 7-month high on Monday. The US currency was able to extend its gains amid optimistic US data which reinforced investors’ hopes over the Fed rate hike in 2016.

Current situation

The euro partly recovered and was able to reverse the majority of its losses during the trades on Monday. The ongoing recovery could be attributed to some profit taking from bears following Friday's sell-off. Buyers pushed the EUR/USD to the resistance 1.1000. However, bulls failed to regain the level and the price slightly rolled back. The euro quotes tested the 50-EMA, around 1.1000 in the 1 hour chart. The 50-EMA acted as a barrier and rejected the price downwards. All moving averages (50, 100 и 200) are heading lower. The resistance comes in at 1.1000, the support stands at 1.0950.

MACD remained in the negative area. The MACD histogram remained at the same level which indicates the sellers’ strength. RSI indicator is holding near oversold levels.

Trading recommendations

We do not exclude that after rolling back the euro will try to retake the level 1.0950 again. Conversely, after a daily closing above the level 1.1000 the EUR/USD may extend its gains towards 1.1050.



Pound

General overview

The pound remained under pressure amid growing concerns over the hard Brexit.

Current situation

The neutral phase that started last week is still intact. The cable gapped downwards at the open on Monday. The price jumped downwards from 1.2182 to 1.2153. The pair extended its losses after the gap and stayed in a tight range 1.2140 - 1.2200 during the course of the day. The sterling remained under bearish 50-EMA which limits its growth in the 1 hour chart. The moving averages slowed down with their decline, going downwards in the same chart. The current resistance is seen at 1.2200, the support lies at 1.2100.

MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening.
RSI indicator is consolidating around the oversold levels.

Trading recommendations

We prefer to stay neutral for now. We expect further sideways trades in the coming sessions.



Yen

General overview

The USD/JPY pair preserved its bid tone after the positive US retail sales report which pointed that the Fed is moving closer to raise the rates before the end of the year.

Current situation

The dollar/yen remained in an upward channel on Monday. The price moved away from the upper limit of the cannel and is struggling with the 104.00 support to go decline further. The dollar quotes approached the bullish 50-EMA in the 1 hour chart. The 50-EMA provides a solid support for the price. All moving averages are pointing higher. The resistance can be found at 105.00, the support comes in at 104.00.

MACD is in the positive area. The histogram remained at the same level which indicates the buyers’ strength. RSI is within the overbought area.

Trading recommendations

After breaking the 104.00 support the price will keep advancing south towards the mark 103.30. A bounce off the level will extend its gains toward the last week high at 104.61.



AUD/USD

General overview

The Aussie softened against the dollar and lost some of its gains amid the commodity market growth.

Current situation

The AUD/USD pair was in buy mode on Monday. The price retreated from the lows posted on Friday. The Aussie moved upwards and was able to reverse some of its losses on Monday. The pair left the short-term downward channel and is trying to extend its buying momentum now. The price seems to be moving towards the resistance area at 0.7650. The AUD/USD pair bounced from the 50 and 100 EMAs which provided a bearish support for the quotes. The price bounced off the lines and moved away from them. The 50, 100 and 200 EMAs are neutral in the 4 hours chart. The resistance is at 0.7650, the support stands at 0.7600.

MACD is in the positive area. The histogram remained at the same level which indicates the buyers’ strength. The RSI oscillator moved upwards.

Trading recommendations

If the positive tone persists the AUD/USD pair may extend its near-term recovery towards 0.7650. At the same time a bearish scenario requires a close below 0.7600.



XAUUSD

General overview

Gold prices remained unmoved on Monday, trading around 4-month lows. A stronger dollar limits the further gold recovery.

Current situation

Gold prices traded flat on Monday. The last week trading range remained intact. The XAU/USD pair made an attempt to recover in the Asian session on Monday. However, the upward momentum stopped and the price decreased and erased its recent gains. The yellow metal spent the European session at the lower end of the trading range. Gold futures remained in-between the 50 and 100 EMAs in the 1 hour chart. The moving averages extended their bearish slope. The resistance is at 1260, the support comes in at 1250 dollar per ounce.

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

Trading recommendations

The neutral phase will remain intact in the nearest time. The yellow metal will move between levels 1260 and 1250. We think the price will grow towards 1260 first.



Brent

General overview

Brent futures edged lower on Monday amid a stronger dollar and rise in US drilling rig number.

Current situation

Brent is turning bearish in the 4 hours chart. After a short-lived recovery in the Asian session the Brent price bounced downwards from the 52.00 mark on Monday. Sellers pushed the prices lower towards the immediate support 51.50 which slowed down its decline. The 50-EMA acted as a resistance and stopped the growing momentum, rejecting the price downwards in the 4 hours chart. The 50-EMA is turning neutral, the 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 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. The RSI oscillator moved downwards.

Trading recommendations

We believe the price will keep battling with the 51.50 level. If the level holds oil prices will bounce back to 52.50. In the scenario where sellers break the level the Brent quotes move lower towards 50.50.



DAX

General overview

European stocks opened lower on Monday when Pearson (media group) and Marine Harvest (sea products producer) shares decline weighed on stocks.

Current situation

DAX index gapped downwards on Monday. The price jumped from the mark 10575 to 10538. The price briefly strengthened and was able to erase its losses. However, the recovery turned out to be short-lived and DAX soon turned around. Prices decreased to the 10500 level region during the European hours. The price is sandwiched between the 50-EMA on the one side and the 100 and 200 EMAs on the other. The 50-EMA acts as a resistance, the 100 and 200 EMAs provide a strong support for the index. The 50 and 100 EMAs are moving downwards, the 200 EMA is slightly bullish. The resistance is seen at 10600, the support is at 10500.

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. The RSI oscillator moved downwards.

Trading recommendations

As the most probable scenario, we expect the 10500 level breakthrough and further moving downwards towards the mark at 10430.



S&P500

General overview

Wall Street opened lower as expectations over the Fed's next monetary policy action remained a key determinant for the stocks. Investors prepared for a week full with corporate earnings reports.

Current situation

The index started the week with a recovery. S&P500 moved higher towards 2130 and was able to erase some of its losses during the Asian and European sessions on Monday. Buyers failed to retake the level and S&P500 sharply decreased at the beginning of the New York session. Prices broke upwards the 50-EMA and shortly pierced the 100-EMA in the 1 hour chart. The index failed to hold its gains and decreased back below the moving averages in the mentioned timeframe. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance is seen at 2130, the support is at 2120.

MACD remained at the same level which indicates the sellers’ strength. The RSI remained within negative levels.

Trading recommendations

The price traded in a descending channel, staying close to its upper limit. A move above the range will weaken sellers’ positions. An uptrend will start as soon, as the S&P500 rises above the resistance level 2140. The index will extend its losses towards 2110 after breaking the support 2120.




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

 

"Fort Financial Services"- fundamental and technical analysis.

19.10.2016

Euro

General overview

The dollar weakened against its main peers as the disappointing U.S. data keep weighing on it.

Current situation

The EUR/USD pair remained in a near-term descending channel on Tuesday. The price bounced off its lower limit, approaching its upper boundary during the first part of the day. The current recovery might be bears' profit taking after last week decline. The pair faced another selling pressure at the NY open. The EUR/USD gave up its recent gains and moved below 1.1000 towards 1.0950. According to the 1 hour chart the recovery action was limited by the 100-EMA near the 1.1000 region. The price bounced from the line and moved downwards. The moving averages (50, 100 and 200) keep moving lower. The resistance comes in at 1.1000, the support stands at 1.0950.

MACD remained in the negative area. MACD decreased which confirm the sellers’ positions strength. The RSI oscillator moved downwards.

Trading recommendations

A downtrend will start as soon, as the EUR/USD pair consolidates below the level 1.1000. The level 1.0950 is the first sellers’ target.


Pound

General overview

The pound strengthened on the back of the positive Consumer Price index in the UK.

Current situation

The sterling remained in a range during the Tuesday’s trades. The price moved from its lower limit at 1.2130 and was able to escalate up to 1.2288 where the upward momentum faded. An attempt to recover was limited by the 50-EMA in the 4 hours chart. All moving averages keep heading south in the mentioned timeframe. The current resistance is seen at 1.2300, the support lies at 1.2200.

MACD grew which indicates the sellers’ positions weakening. The RSI oscillator moved upwards.

Trading recommendations

A break above the upper limit of the range will allow recovering towards 1.2400. A break below 1.2100 will suggest further weakness.



Yen

General overview

The dollar traded lower against the other major currencies following the weak Empire State manufacturing report which diminished expectations for another rate hike by Fed in 2016.

Current situation

The 3-week bullish trend remains intact. The price strengthened in the Asian session on Tuesday. However, the growth was stopped by the 104.00 level, where the pair met a selling interest, pushing the price lower. The USD/JPY pair bounced off the level and headed downwards to the 103.40 region where the 50-EMA lies. The 50-EMA may provide a solid support for the quotes in the 4 hours chart. The moving averages maintained their bullish slope in the same timeframe. The resistance can be found at 104.00, the support comes in at 103.00.

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

Trading recommendations

In the potential scenario, the next stop for the USD/JPY could well be around level at 103.40. If the pressure persists the price will extend its losses towards 103.00.



NZD/USD

General overview

The kiwi strengthened due to the better-than-expected Consumer Price Index report and a weaker dollar.

Current situation

The pair had a positive day on Tuesday. The NZD/USD extended its bullish momentum, struggling with 0.7200 to move higher. The price tried to break the bearish 200-EMA which limited its growth in the 4 hours chart. The 200-EMA is neutral, the 50 and 100 EMAs are turning upwards, following the price. The resistance is at 0.7200, the support stands at 0.7120.

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

Trading recommendations

If bulls retain control and breaks above 0.7200 the NZD/USD pair will strengthen towards 0.7250. If the price fails to reclaim the level 0.7200, then this could lead to renewed selling momentum, possibly towards 0.7120.



XAUUSD

General overview

Gold prices traded higher on Tuesday as the disappointing US inflation report pushed back expectations for another US rate hike.

Current situation

The XAU/USD remained rangebound on Tuesday. Gold prices reached the upper boundary of the range when the level 1260 dollar per ounce stopped its further recovery. The price struggled hard with the level to extend its gains, but failed. The yellow metal retreated from the daily high and continued to head lower in the North American session. The 200-EMA stopped the yellow metal strengthening in the 1 hour chart. The 200-EMA rejected the price downwards, towards the 50 and 100 EMAs. The 200-EMA is moving downwards, the 50 and 100 EMAs are neutral in the same chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce.

MACD remained in the negative area. If MACD remains within the negative territory, sellers’ positions will strengthen. The RSI left the overbought area and headed south.

Trading recommendations

If the price makes another attempt and this time breaks above the 1260 resistance area then we could see its growth towards 1270 dollar per ounce. At the same time bearish scenario requires close below 2150 dollar per ounce.



Brent

General overview

Oil prices remained positive on Tuesday as some analysts believe that the market is not so oversupplied as it was suggested earlier.

Current situation

Brent gapped higher at the open on Tuesday. Prices jumped from 51.67 to 51.70 dollars per barrel. Brent crude oil continued with its recovery later the day. The price reached the mark 52.00 which appeared to be a pivot point. The price turned around and headed lower towards 51.50. However, the downward pressure quickly faded and the price stopped a few pips above 51.50. The 50-EMA became a barrier on its way upwards in the 4 hours chart. The line rejected the price, sending it downwards. The 50-EMA is neutral, the 100 and 200 EMAs are pointing higher. The resistance is at 52.50, the support comes in at 51.50 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 moved upwards.

Trading recommendations

Bears are attempting to control the market. If they succeed the price will break 51.50. After breaking the level bears will move towards 50.50.



DAX

General overview

European stocks sentiment improved due to oil prices growth and as investors began preparing for the ECB meeting this Thursday.

Current situation

The DAX index ended its 4-day decline and opened on a positive note on Tuesday. The price gapped higher at the open and extended its gains towards 10656, breaking the level 10600 on its way up. Having refreshed the weekly high the index rolled back towards 10600. The price jumped over the 50 and 200 EMAs in the 4 hours chart. The 50 and 100 EMAs maintained their bearish slope, the 200-EMA is neutral. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

A daily close above 10600 will indicate a continuation of the upward movement. Buyers will push the price towards 10700. A close below 10600 may trigger a downward movement towards 10500.



NASDAQ

General overview

Wall Street opened higher fallowing the positive Consumer Price index. Investors keep weighing up corporate earnings reports.

Current situation

NASDAQ held a bullish tone yesterday. The index continued moving higher, breaking above the previous day’s top. The price broke the level 4835 and was able to extend its gains towards 4848 where the bullish spike faded and NASDAQ rolled back. The 100-EMA stopped the upward momentum. The price bounced off the moving average and headed downwards below the 50-EMA. The 100 and 50 EMA direction is downwards. The 200-EMA is moderately bullish. The resistance is seen at 4850, the support is at 4800.

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

Trading recommendations

The index remained in a broad range descending channel. The price tested its upper boundary on Tuesday. A break above the line will indicate that the negative sentiment is over. In this potential scenario, buyers will lead the price to 4865.

If the price fixates below the level 4835 NASDAQ may return to a decline.



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

 

"Fort Financial Services"- fundamental and technical analysis.

20.10.2016

Euro

General overview

The euro strengthened against the US dollar on the back of the weak data and Fed officials’ ambiguous comments regarding the rate.

Current situation

The bearish trend remained intact in the 4 hours chart. The EUR/USD pair was decisively trading below the 1.1000 level. The market was fairly balanced during the Asian session on Wednesday. The price stayed between the marks 1.0970 and 1.1000. The euro moved down towards 1.0950 during the European trades. The euro quotes broke the 50-EMA and tested the 100-EMA in the 1 hour chart in the Asian session. The 100-EMA rejected the price downwards. The EUR/USD was in-between the 50 and 100 EMAs during the early European hours and moved below the lines ahead of the US opening. All moving averages accelerated their decline in the mentioned timeframe. The resistance comes in at 1.1000, the support stands at 1.0950.

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

Trading recommendations

Negative technical studies maintained bearish pressure. A break below 1.0950 will suggest a further weakness towards 1.0900.



Pound

General overview

The pound strengthened on Wednesday due to the positive labour market report. The unemployment level has remained unchanged despite the Brexit referendum results.

Current situation

The GBP/USD remained in bulls' hands on Wednesday. Bulls pushed the price towards 1.2300. The sterling was battling with the resistance 1.2300 during the day. The pound quotes broke the 50 and 100 EMAs and snapped the 200-EMA in the 1 hour chart. The 200-EMA became an initial barrier for the price which was struggling to take it out during the day. The 50-EMA crossed the 100-EMA upwards in the same chart. The moving averages (50, 100 and 200) are neutral. The current resistance is seen at 1.2300, the support lies at 1.2200.

MACD entered the positive area. MACD grew which indicates the sellers’ positions weakening. RSI approached the oversold area.

Trading recommendations

Our short-term outlook remains bullish. A break above 1.2300 risks a growth towards the resistance at 1.2400.



Yen

General overview

The US dollar weakened against its main peers following the recent US data. Traders were cautious ahead of U.S. Building Permits release.

Current situation

The 4 hours chart for the pair presents a moderate bearish potential. The price finally broke the consolidation range and made a good break below 104.00. Sellers pushed the quotes towards 103.00. The 50-EMA stopped the downward momentum in the 4 hours chart. The moving averages (50, 100 and 200) extended their growth. The resistance can be found at 104.00, the support comes in at 103.00.

MACD entered the oversold area. MACD decreased which indicates the buyers’ positions weakening. RSI moved towards the overvalued levels.

Trading recommendations

The USD/JPY is approaching the 103.00 level. A move below the level would indicate that the immediate upward pressure eased. In this scenario, sellers will push the price further towards the 102.50 region. A bounce off the 103.00 level will return buyers in the game.



USD/CAD

General overview

The commodity currencies like loonie strengthened following oil prices growth.

Current situation

The pair retained a neutral, short-term undertone. The USD/CAD extended its recovery and touched the daily high at 1.3128 before retreating downwards. The price spent the day within a tight range 1.3130 - 1.3080. The USD/CAD pair bounced downwards from the 200-EMA in the 4 hours chart. The 200-EMA is neutral, the 50-EMA is crossing the 100-EMA downwards. The resistance is at 1.3150, the support stands at 1.3050.

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

Trading recommendations

The USD/CAD is approaching the support 1.3050. If the price breaks this support, the pair may fall further that should send this market looking for the 1.3000 mark.



XAUUSD

General overview

Gold prices grew amid uncertainty over the timing of future Fed rate hikes.

Current situation

The gold hold the upbeat tone vs. its American peer on Wednesday. The XAU/USD finally left the range and extended its gains during the European session on Wednesday. Buyers led the price from the level 1260 towards 1270 per ounce. The bullish spike faded around the immediate resistance where prices spent the rest of the day. The pair broke the 50-EMA and approached the 100-EMA which stopped its growth in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are still moving downwards. The resistance is at 1270, the support comes in at 1260 dollar per ounce.

MACD is in the positive area. MACD grew which indicates the sellers’ positions weakening. RSI is going north which confirms the current upward movement.

Trading recommendations

The overall outlook remains bullish, for rise towards 1270 resistance area. A successful break above the level will send prices towards the next resistance at 1280 dollar per ounce.



Brent

General overview

A fall in U.S. crude stocks together with a planned output cut next month support oil prices.

Current situation

Brent futures remained rangebound between the current support and resistance. Bulls pushed the price from the lower end of the range towards its upper one. Buyers moved Brent futures towards 52.50 dollars per barrel where the buying momentum faded. Oil prices bounced off the level and spent the European session slightly below it. The price stays in the 50-EMA region which provides a solid resistance for oil futures. The 50-EMA is neutral, the 100 and 200 EMAs are pointing higher. The resistance is at 52.50, the support comes in at 51.50 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 in a neutral area.

Trading recommendations

If the 52.50 dollars per barrel level can hold Brent futures could decline to 51.50. A clear strength above this immediate resistance will pave way towards 53.50.



DAX

General overview

European stocks opened lower as investors digested the Chinese data and European corporate earning reports.

Current situation

DAX index opened bearish yesterday. The price gapped higher at the opening and filled the gap after declining back to 10600. The level 10600 appeared to be a tough nut to crack. The price rolled back in early European trades and made another attempt to break below the level lately. Sellers again failed to reclaim the 10600 level, the price bounced off the level and moved to the 10650 region. The 50 and 100 EMAs kept moving higher with the 50-EMA crossing the 200-EMA in the 4 hours chart. The 200-EMA is neutral in the mentioned timeframe. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

The near term outlook will be bullish as long as the price holds above 10500.



S&P500

General overview

American stocks opened higher on Wednesday on the back of the strong quarterly earnings.

Current situation

The index was positive yesterday despite the negative spike in early European trades. Sellers failed to retake the level 2130, the price bounced from the support and jumped to the 2135 region. The growing momentum was stopped by the 50-EMA which rejected the price downwards. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance is seen at 2140, the support is at 2130.

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 was neutral during the day.

Trading recommendations

The bearish tone persists. The S&P500 index may try to retake the level 2130 after a current roll back. The next level to focus on is 2120.



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

 

"Fort Financial Services"- fundamental and technical analysis.

21.10.2016

Euro

General overview

The EUR/USD remained unchanged after the ECB left its monetary stance unchanged.

Current situation

The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance comes in at 1.1000, the support stands at 1.0950.

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

Trading recommendations

The level 1.0950 seems the next probable bearish target. After breaking the level sellers will lead the price towards 1.0900. We do not exclude a short-term correction towards the 1.1000 resistance region.



Pound

General overview

The pound edged lower on Thursday following worse-than-expected Retail Sales release.

Current situation

The GBP/USD pair remained near its recent highs, consolidating its gains. The pound traded flat, staying within a tight range between 1.2300 - 1.2260.The prices moved downwards from the upper limit of the range towards its lower boundary during the day. According to the 1 hour chart the price is sandwiched between the 50 and 200 EMAS. All moving averages (50, 100 and 200) are neutral in the same chart. The current resistance is seen at 1.2300, the support lies at 1.2200.

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

Trading recommendations

The GBP/USD is having difficulties to go any higher. If the pound manages to break above the current resistance it will be able to test the level 1.2400. On the other side, a break below 1.2200 will erase its recent gains and will return sellers in the game.



Yen

General overview

The USD/JPY edged higher on growing expectations over the Fed's monetary policy action.

Current situation

The USD/JPY pair remained in a wide sideways channel in the 4 hours chart. The price reached the lower limit of the range on Wednesday and bounced upwards after testing it. Bulls were able to reverse most of its latest losses on Thursday. The pair was able to escalate up to 103.75 ahead of NY opening. In the 4 hours chart the price met a strong barrier in the 103.00 region, around the 100-EMA which rejected the pair upwards. The pair returned above the 50-EMA and stayed there during the day in the mentioned chart. The resistance can be found at 104.00, the support comes in at 103.00.

MACD is negative. However, MACD grew which indicates the sellers’ positions weakening. RSI bounced off the oversold area.

Trading recommendations

After rolling back the price may take another chance to reclaim the level 103.00. If sellers manage to break the level through the price will decline towards 102.50, around the 200-EMA. Alternatively, the USD/JPY will move above 104.00.



AUD/USD

General overview

The Australian dollar moved lower vs. its U.S peer after mixed unemployment data release on Thursday.

Current situation

The price encountered significant losses on Thursday. After touching the level 0.7730 the prices turned around and sharply fell. The pair broke the 0.7690 level and tested 0.7650 on its way down. The downward impetus faded around the daily low. The AUD/USD broke the 50-EMA in the 1 hour chart. The price is approaching the 100-EMA in the same timeframe. The 50-EMA is turning down, the 100 and 200 EMAs are still heading north. The resistance is at 0. 7690, the support stands at 0. 7650.

MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the overbought area and headed towards the negative levels.

Trading recommendations

If the price overcomes 0.7650 and moves downwards we will neutralize our medium term positive outlook. After breaking the current support level prices will trend towards 0.7625.



XAUUSD

General overview

Gold prices remained near 2-week highs as speculations over Fed rate-hike continued.

Current situation

Technically, the short term picture is modestly bullish. The recovery from 1260 stalled at the 1270 level which hold onslaught of bulls. The XAU/USD pair traded in a narrow sideways range of 50 pips or less during the course of the trades. The 100-EMA limits yellow metal further strengthening in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are heading lower. The resistance is at 1270, the support comes in at 1260 dollar per ounce.

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

Trading recommendations

The tone is still positive in the market. Should gold prices advance beyond the 1270 level, the rally can extend in the short term up to 1280 dollar per ounce. A move below the level will ease buyers’ positions, giving them a chance to move the price to the monthly lows.



Brent

General overview

Oil prices moved lower on Thursday after a rally on the back of large U.S. oil inventory drawdown last week.

Current situation

Brent prices gave up its recent highs and sharply fell in the Asian session on Thursday. The ongoing decline could be attributed to some profit taking from bulls following a 3-day rally. Sellers pushed the price below 52.50 and met a barrier in the 52.00 region. The oil quotes continued with a decline during the North American session. The price broke the 50-EMA and headed lower towards the 100-EMA in the 4 hours chart. The 50-EMA is neutral in the same chart. The 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 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. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

Our near term outlook is bearish. To trigger additional downward momentum oil prices need to break 52.00 and move below 51.50.



DAX

General overview

European stocks traded mixed on Thursday. Market participants waited for the ECB’s meeting results and Mario Draghi’s press-conference.

Current situation

The index extended its near-term upward trajectory on Thursday. DAX gapped higher at the opening and extended its gains during the Asian session yesterday. Prices touched the level 10700 and immediately rolled back, spending the day below the level. The price hovered above the moving averages on yesterday’s trades. The moving averages (50, 100 and 200) are mixed in the 4 hours chart. The 200-EMA is neutral, the 50 and 100 EMAs are pointing higher. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

The DAX index may attempt to reclaim the 10700 level again. If prices break the level the index will extend its gains towards 10750.



NASDAQ

General overview

The American Stocks edged higher at opening after the third and final U.S. presidential debates. NASDAQ turned lower during the NY session ahead of U.S. fresh statistics.

Current situation

The price stayed opened above the level 4835, trading in a tight range of 50 pips on Thursday. Sellers seem to be guarding the mark 4845 as the price bounces from the level on every attempt to grow. NASDAQ eased and moved lower in the New York session. The index struggled with the 100-EMA to grow further in the 4 hours chart. After bouncing from the moving average, the price moved to the 200-EMA which acts as a support for the index. The moving averages are mixed in the 4 hours chart. The 100-EMA is neutral, the 50-EMA is going downwards, the 200-EMA is moderately bullish. The resistance is seen at 4865, the support is at 4835.

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

Trading recommendations

A strong breakdown and close above 4845 could send prices higher towards 4865. A return below 4835 will increase selling momentum towards 4800.



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

 

"Fort Financial Services"- fundamental and technical analysis.

24.10.2016

Euro

General overview

The dollar traded near fresh 7-month highs on the final trading day of this week. The EUR/USD pair edged lower as the latest M. Draghi's remarks weighed on the euro, at the same time the U.S. rate hike hopes supported the US dollar.

Current situation

Bears have the ball now. Sellers pushed the euro lower, the price broke the level 1.0900 and headed towards 1.0830. The pair continues developing well below the moving averages in the 4 hours chart. The moving averages (50, 100 and 200) keep heading lower. The resistance comes in at 1.0900, the support stands at 1.0830.

MACD is negative. MACD decreased which confirms the strength of sellers. The RSI indicator is within negative territory, favoring a new move lower.

Trading recommendations

The EUR/USD pair is heading towards 1.0830. Should that level break down and the price will decline to 1.0780. We also expect a profit taking from bears after three-day sell-off. The prices may recover to 1.0950.



Pound

General overview

The pound remained under pressure amid the return of the hard Brexit concerns. According to the U.K. Office for National Statistics Public Sector Net Borrowing grew in September.

Current situation

The pound remained vulnerable on Friday. Sellers continued to dominate and were able to push the price lower. The pair moved below 1.2300 and approached the level 1.2200 in the European session on Friday. The GBP/USD pair broke the level before the NY opening. The 50-EMA acts as a resistance and does not let the price to grow in the 4 hours chart. The pound bounced off the level and trended downwards from it. The 50, 100 and 200 EMAs continued moving lower. The current resistance is seen at 1.2300, the support lies at 1.2200.

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 heading south.

Trading recommendations

A move below the 1.2200 support would suggest a resumption of the bearish trend. The prices may move lower towards 1.2100.



Yen

General overview

According to Haruhiko Kuroda (the BoJ Governor) the regulator may extend timing for reaching its inflation target.

Current situation

The USD/JPY pair turned negative after opening on Friday. After two-day recovery the price reached the level 104.00. Buyers were unable to retake the level, the price turned around and got under selling pressure. The pair traded around 103.75 Post-European open. The USD/JPY hovered over the moving averages in the 1 hours chart. The prices touched the 50-EMA which rejected them upwards. The 50-EMA provided a temporally support for the dollar. The moving averages are moderately bullish in the same chart. The resistance can be found at 104.00, the support comes in at 103.00.

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

Trading recommendations

If the bearish scenario prevails the USD/JPY pair will face additional selling pressure. Sellers will lead the price towards 103.50 first. After breaking the mark the pair will move to 103.00.



NZD/USD

General overview

The NZD/USD declined as expectations for the next U.S. rate hike kept supporting the US dollar.

Current situation

Kiwi was a little changed on Friday and remained prone to more weakness. Sellers kept pushing the price lower below 0.7200. The price stalled its decline around 0.7160 in the European trade. The pair broke the 200-EMA and tested the 100-EMA in the 4 hours chart. The 100-EMA provides a solid support and does not allow its further weakness. The moving averages (50, 100 and 200) are neutral in the mentioned timeframe. The resistance is at 0.7200, the support stands at 0. 7120.

MACD decreased which indicates the buyers’ positions weakening. RSI is moving towards the oversold area.

Trading recommendations

In the event that the sellers manage to force the below 0.7160 the NZD/USD may test 0.7120. If the price bounces from the mark 0.7160 the pair may recover up to 0.7200.



XAUUSD

General overview

Gold prices edged lower on Friday following the U.S. dollar strengthening. Meanwhile, the latest ECB’s decision supported the yellow metal.

Current situation

Gold prices traded mixed on Friday. The yellow metal traded lower the half of the day and higher the other half. Sellers moved the price to the level 1260 dollar per ounce which appeared a solid barrier for it. The pair bounced from the level and reversed some of its losses. The XAU/USD traded in the 1264 region ahead of the NY session. The 50-EMA stopped the further gold prices weakening in the 4 hours chart. The price bounced off the line and moved higher to the 100-EMA. The resistance is at 1270, the support comes in at 1260 dollar per ounce.

MACD remained at the same level which confirms the strength of sellers. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

A bearish continuation through 1260 should lead to a continued slide, with 1255 as the first probable target. A close below this mark will allow sellers to move lower towards 1250 dollars per ounce.



Brent

General overview

Oil prices strengthened on Friday on Russia's output freeze commitment. Although a stronger dollar limited oil prices growth.

Current situation

Brent prices were in sell mode during the European session on Friday. The prices started the day around 51.50 and stayed under pressure during the day. Oil prices rose at the start of the NY session and closed the week bullish. The prices bounced upwards from the bullish 100-EMA and tested the 50-EMA on its way upwards in the 4 hours chart. The 50-EMA is turning downwards, the 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel.

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 off the oversold area.

Trading recommendations

A consolidation above the 52.00 mark may extend bullish momentum. In the scenario where the buyers keep control Brent futures may recover back to 52.50 dollars per barrel. Otherwise, a move below 51.50 will weaken buying momentum and switch the market sentiment. In this potential scenario sellers will move the price towards 50.50 dollars per barrel.



DAX

General overview

European stocks edged higher on Friday amid a weaker euro and strong corporate earning reports.

Current situation

The DAX index traded bearish on Friday. The prices stayed above the level 10700 during the European trades. However, the index gets under selling pressure on any up-move from the level. DAX moved below the level ahead of the New York session and returned above the level at close of trade. The moving averages are pointing higher in the 1 hour chart. The 50-EMA crossed the 100 and 200 EMAs upwards. The resistance is seen at 10800, the support is at 10700.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within positive area.

Trading recommendations

In order to take a good position we will wait for prices to break below 10700. A solid consolidation below the level will indicate a growing strength of sellers. In this potential scenario the price will drop to 10600.



S&P500

General overview

Wall Street closed higher as Consumer Services, Technology and Consumer Goods sectors strengthened.

Current situation

S&P500 opened on a weaker note on Friday. The index continued to lose its value during the European session. Prices declined from 2135 towards 2123 during the first part of the day. S&P500 turned around at the beginning of NY session. The price returned above 2130, reversing some of its losses. The price broke the 50-EMA upwards in the 4 hours chart. The index headed towards the 100-EMA in the same time frame. All moving averages kept heading lower. The resistance is seen at 2140, the support is at 2130.

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. The RSI oscillator moved upwards.

Trading recommendations

If S&P500 manages a break below 2130 and stays there we would likely be selling the index towards 2120. If the price stays above the level the index we will buy it towards 2140.




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

 

"Fort Financial Services"- fundamental and technical analysis.

25.10.2016

Euro

General overview

The EUR/USD strengthened on the back of stronger Services PMI in the EU on Monday.

Current situation

The EUR/USD pair opened on a weaker note on Monday. The price remained near last week low during the day. The pair bounced off the border of the oversold zone and reversed some of its losses in the European session. The price grew to 1.0900 where the upward momentum faded. According to 1 hour chart the price remained below the moving averages which are all pointing lower. The resistance comes in at 1.0900, the support stands at 1.0830.

The MACD chart slightly changed from last week. MACD grew which indicates the sellers’ positions weakening. The RSI indicator continues consolidating within oversold levels.

Trading recommendations

The longer term outlook will be bearish as long as the price holds below 1.1000. The price is oversold and may recover towards 1.0950. We expect a downtrend will continue in the nearest time.



Pound

General overview

The pound remained under pressure due to a lack of market movers and a stronger dollar.

Current situation

The neutral phase that started a week ago is still intact. The GBP/USD pair traded in the middle of the tight range between 1.2300 - 1.2200. The price recovered to 1.2250 in the European session where the upward spike faded as the pair encountered bears' resistance. The 1 hour chart shows that the pound broke the 50-EMA and pierced 100 EMAs. The price struggled with a bearish 100-EMA during the day. The 50, 100 and 200 EMAs are heading lower in the same chart. The current resistance is seen at 1.2300, the support lies at 1.2200.

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

Trading recommendations

If the GBP/USD continues its recovery we can see it advancing towards 1.2300/30 region. A move below 1.2200 will aim the pair at 1.2100.



Yen

General overview

The yen strengthened following the positive Trade Balance report and Manufacturing PMI for October.

Current situation

The USD/JPY remained under pressure in the mid-European session. The pair again failed to break above 104.00 and returned below the level. The price was in-between the mark 103.70 and the level 104.00 on Monday. The 50-EMA provided a solid support for the pair. The price tested the line and bounce upwards in the 4 hours chart. The 50, 100 and 200 EMAs are heading upwards. The resistance can be found at 104.60, the support comes in at 104.00.

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

Trading recommendations

We believe buyers will keep trying to take out the level 104.00. Our outlook will remain bullish as long as the USD/JPY stays above 103.00. We do not exclude a short-term correction towards 103.00.



USD/CAD

General overview

The U.S. dollar grew against its Canadian counterpart amid reviving hopes of a Fed rate-hike in December. Meanwhile the weak Canadian data weighed on the CAD.

Current situation

The USD/CAD traded near last week highs on Monday. The pair was neutral and stayed above 1.3330 during the day. The price is well above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are turning upwards. The resistance is at 1.3400, the support stands at 1.3330.

MACD is within the positive territory. MACD remained at the same level which confirms the strength of buyers. The RSI indicator is near overvalued territory, favoring a move lower.

Trading recommendations

The overall tone is bullish. Buyers may push the price higher to test 1.3400. The price may slightly soften towards 1.3250.



XAUUSD

General overview

Gold prices slightly changed on Monday. The U.S. dollar strengthening continued weighing on the XAU/USD pair.

Current situation

Our near-term studies are negative. The XAU/USD traded in a tight range: 1262 - 1266 on Monday. Prices struggled with the 1260 level which is defended by buyers. According to 4 hours chart the price is between the 50 and 100 EMAs. The 50-EMA is neutral, the 100 and 200 EMAs slowed down their decline. The resistance is at 1270, the support comes in at 1260 dollars per ounce.

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

Trading recommendations

A clear break below 1260 dollars per ounce will extend gold losses towards 1250. Conversely, the price may continue struggling with the 1270 level. If succeeded yellow metal will grow to 1275 dollars per ounce.



Brent

General overview

Oil prices fell when Iraq refused to join an output freeze. A growth in the US rig count numbers weighed on oil prices as well.

Current situation

Brent prices traded flat, staying in a narrow range between 51.50 and 52.00 dollars per barrel. Sellers seemed to be guarding the mark 52.00 as the price bounced from the level on every attempt to the upside. The selling pressure increased at the start of the NY session. Brent futures broke the level 51.50 and moved lower towards 51.00. Oil futures bounced off the 50-EMA, broke the 100-EMA and headed south in the 4 hours chart. The 50-EMA direction is downwards, the 100 and 200 EMAs are moving upwards. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

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

Trading recommendations

If the downward pressure persists Brent may decrease further towards 51.00. The second bears’ target is the level 50.00.



DAX

General overview

European stocks were in buy mode yesterday. The better-than-expected Manufacturing and Services PMI releases in Germany and France supported the stocks.

Current situation

Technically, the short term picture is modestly bullish. The index extended its near-term upward trajectory on Monday. The price got under buying pressure. Buyers pushed the price from 10700 towards 10800 where the upward momentum stalled. Prices remained above the 50, 100 and 200 EMAs in the 4 hours chart. The 100-EMA is crossing the 200-EMA. All moving averages are heading higher. The resistance is seen at 10800, the support is at 10700.

MACD is in the positive area. MACD grew which confirms the strength of buyers. The RSI is in the overbought area.

Trading recommendations

A break above 10800 risks a strengthening towards the resistance at 10900.



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

 

"Fort Financial Services"- fundamental and technical analysis.

26.10.2016

Euro

General overview

The EUR/USD was little changed on Tuesday despite strong Business Climate and Expectations in Germany.

Current situation

The euro was little changed on Tuesday. The common currency remained below the level 1.0900 during the day. The price traded in a tight range between the mark 1.0865 and the level 1.0900. The pair stayed below the 50-EMA in the 1 hour chart. The 50-EMA acted as a resistance for the price, rejecting its attempts to grow. The 50, 100 and 200 EMAs kept heading lower in the mentioned time frame. The resistance comes in at 1.0900, the support lies at 1.0830.

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

Trading recommendations

The pair may extend its recovery if it breaks the level 1.0900 upwards. In this scenario the EUR/USD may grow to 1.0950. The level 1.0830 remains the next probable bearish target.



Pound

General overview

There were no macroeconomic releases in the UK. The BOE's Governor Carney speech was the main event on Tuesday.

Current situation

Sellers continued to dominate in the market on Tuesday. The GBP/USD pair remained under pressure in a narrow range, trading a few pips above 1.2100. The pair was sandwiched between 50 and 100 EMAs in the 1 hour chart. The 100-EMA provided a solid resistance and limited the pound further recovery. The 50, 100 and 200 EMAs slowed down their decline. All moving averages are pointing lower. The current resistance is seen at 1.2200, the support is at 1.2100.

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

Trading recommendations

We prefer to sell now. After breaking 1.2200 the price will move towards 1.2100.



Yen

General overview

The improved investors’ appetite for riskier assets weighed on the yen, maintaining its strong ask tone.

Current situation

The USD/JPY pair looked very bullish yesterday. The pair remained in an ascending channel, trading close to its two-week highs. The USD/JPY extended its gains and grew from 104.11 to 104.60. The price is above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope. The resistance can be found at 104.60, the support comes in at 104.00.

The MACD histogram grew which indicates the buyers’ strength. RSI oscillator stayed near overbought area levels.

Trading recommendations

The USD/JPY pair approached the overbought area where the price turned around last time. The price will remain under buying pressure until it holds above 103.60. We expect a short-term decline back to the 104.00 - 103.70 support area.



AUD/USD

General overview

The dollar strengthened across the board after stronger Manufacturing PMI data and the Fed officials’ remarks. The dollar is strong amid growing expectations that the Fed would hike the rates in December.

Current situation

The AUD spiked upwards in the Asian session on Tuesday. The price jumped from the level 0.7600 up to 0.7625. Buyers failed to break the level 0.7625, the price turned around and decreased, erasing its previous gains. The price bounced upwards from the 200-EMA in the 4 hours chart. The AUD/USD pair broke the 50 and 100 EMAs in the same chart and hovered above them during the day. The resistance is at 0.7650, the support can be found at 0.7625.

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

Trading recommendations

Buyers may try to retake 0.7650. If the level holds the Aussie may return to 0.7600. If succeeded buyers will lead the price to 0.7675.



XAUUSD

General overview

Gold futures edged higher on Tuesday, however, its gains were limited by a stronger dollar. The U.S dollar strengthened after the Fed officials’ hawkish remarks regarding a rate hike in December.

Current situation

The XAU/USD pair traded flat on Tuesday. The price remained between 1270 and 1260 dollars per ounce during the day. Gold prices struggled to find support around 1260. Sellers failed to break the level and the yellow metal bounced upwards and recovered to the upper boundary of the range. The pair bounced from the 50-EMA and headed towards the 100-EMA in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs slowed down their decline. The resistance is at 1270, the support comes in at 1260 dollars per ounce.

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

Trading recommendations

After breaking through the current resistance, the XAU/USD will most likely move up to around the 1280 level. Conversely, if the resistance 1270 holds a move towards 1260 dollars per ounce could be the next step.



Brent

General overview

Oil prices strengthened on Tuesday on expectations of a planned output cut by the OPEC.

Current situation

After a sharp drop on Monday oil prices recovered on Tuesday. The price grew from the level 50.50 to 51.81 overnight. Buyers failed to move the price higher, Brent returned to selling on the back of profit taking. The price bounced from the bullish 50-EMA which acted as a resistance for it. The 100 and 200 EMAs maintained their bullish slope in the 4 hours chart. The 50-EMA is neutral in the same chart. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

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

Trading recommendations

If Brent maintains its bearish momentum oil prices will drop below 51.50. A cut through here will aim at the 50.50 level.



DAX

General overview

European stocks maintained their bullish tone. The increase in earning of Randstad and Orange supported the markets.

Current situation

DAX gapped higher at the open on Tuesday. Prices jumped from 10757 to 10785. The index extended its gains after the gap. The price tested the level 10800, set a new daily high at 10834 and rolled back below the level. The price hovered above the moving averages in the 4 hours chart. The moving averages (50, 100 and 200) kept heading north. The resistance is seen at 10800, the support is at 10700.

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

Trading recommendations

The index will remain under pressure unless it breaks and holds above 10800. After breaking the level the market would look a little stronger with the level 10900 as a target area.



S&P500

General overview

Wall Street little changed in the NY session on Tuesday, traders awaited for corporate earnings reports, including Apple.

Current situation

The index extended its gains on Tuesday. The price was able to escalate to 2150 Post-European open. Buyers failed to take out the level, the price rolled, erasing its latest gains. The index broke the 100-EMA and moved upwards to the 200-EMA where the line stopped its further recovery. The 50-EMA is turning upwards, the 100 and 200 EMAs maintained their bearish slope. The resistance is seen at 2140, the support is at 2130.

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

Trading recommendations

The index may extend its losses towards 2140. A clear break below the level may send the price looking for the 2130 level test.



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

 

"Fort Financial Services"- fundamental and technical analysis.

27.10.2016

Euro

General overview

The euro strengthened on the back of the positive PMI Composite and IFO reports in EU and Germany.

Current situation

The EUR/USD spent the day on a positive note. The pair slightly grew in the Asian session on Wednesday and extended its gains during the European hours. The price was able to escalate to 1.0950 where a bullish spike faded. The 50-EMA stopped the upward impetus in the 4 hours chart. The moving averages kept heading lower. The resistance comes in at 1.0950, the support lies at 1.0900.

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

Trading recommendations

If the price makes another attempt and this time breaks above the 1.0950 resistance area then we could see it growing towards 1.0980. A return below 1.0900 will send the EUR/USD to 1.0850.



Pound

General overview

The pound moved higher following the positive Mortgage Approvals release on Wednesday.

Current situation

The pound slightly strengthened against the US dollar on Wednesday. The price rallied from the mark 1.2154 to 1.2245. However, buyers failed to push the price higher during the European hours. The price briefly broke the level 1.2200 and returned below the level ahead of the NY opening. The 50-EMA stopped the growing momentum. The moving averages are pointing lower in the 4 hours chart. The current resistance is seen at 1.2200, the support is at 1.2100.

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

Trading recommendations

The inability to move the price higher points to sellers’ presence. A move below 1.2200 will signal the return of sellers who will try to move the GBP/USD lower towards 1.2150.



Yen

General overview

The dollar is strong across the board amid increasing bets that the Fed hike rare in December. However, cautious sentiment around equity market supported the yen, stabilizing the USD/JPY pair.

Current situation

The USD/JPY pair remained around recent lows. The price found a solid support around 104.00 and spent the day above it. The upward trend remained intact. The price is still in an ascending channel, staying close to its lower limit. The 50-EMA stopped the downward impetus in the 1 hour chart. The 50-EMA is neutral, the 100 and 200 EMAs maintained their bullish slope. The resistance can be found at 104.60, the support comes in at 104.00.

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

Trading recommendations

If the pair remains in an upward channel the price may reverse its losses and grew to 104.60. A move below 104.00 will signal about buyers’ weakness and may give sellers a chance to move the price lower,



NZD/USD

General overview

The dollar moved from 9-month high on Wednesday. Despite the latest decline the dollar is strong on expectations of Fed rate-hike by the end of 2016.

Current situation

After one week decline the pair regained its lost ground and jumped to weekly high levels. Buyers moved the price to the mark 0.7180 where the growing momentum faded. The price encountered a solid resistance in the face of the 200-EMA which rejected it downwards in the 4 hours chart. The pair was between the 200 and 100 EMAs ahead of the NY opening. The moving averages kept moving lower. The resistance is at 0.7200, the support can be found at 0.7120.

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

Trading recommendations

Bears will retain control if the price bounces downwards from the 200-EMA. Sellers will lead the price towards 0.7120. After breaking the level the price may drop to 0.7080.



XAUUSD

General overview

Gold prices strengthened on Wednesday amid US dollar weakening across the board. The dollar moved from the 9 week highs increasing demand for the yellow metal.

Current situation

After a short-lived rally gold prices stopped above 1270 dollars per ounce, hovering above the level the whole day. Buyers seem to be unable to move the price higher. The pair is turning around and is about to decline now. The price is struggling with the 100-EMA to move lower. The 100-EMA is neutral, the 200-EMA is moving lower, the 50-EMA is turning upwards in the 4 hours chart. The resistance is at 1280, the support comes in at 1270 dollars per ounce.

MACD is in the positive area. MACD decrease which indicates the buyers’ positions weakening. RSI bounced from the oversold area.

Trading recommendations

Failure to hold above 1270 risks a decline towards 1260 dollars per ounce.



Brent

General overview

Oil prices fell on Wednesday amid fading hopes that the OPEC members would come to an agreement with the output deal.

Current situation

Brent oil futures extended losses from the previous sessions on Wednesday. The price broke the level 50.50 and continued to lose its value. After breaking the level Brent futures moved lower and approached the next support area around 49.50. Oil futures approached the 200-EMA which may act as a support for them. The 200-EMA maintained its bullish direction, while the 50 and 100 EMAs are turning downwards. The resistance is at 50.50, the support comes in at 49.50 dollars per barrel.

MACD is in the negative area. MACD decrease which confirms the strength of sellers. The RSI is within oversold area.

Trading recommendations

In the 4 hours chart, the technical picture favors a downward extension. After breaking 49.50 Brent oil futures might extend its losses towards 48.50. We do not exclude taking profit from bears after a recent decline.



DAX

General overview

European stocks traded on a weaker note on Wednesday. Investors continued weighing up the latest corporate earnings report.

Current situation

The index suffered a short lived downward movement. DAX had a sharp drop below the support level of 10700. After breaking the mentioned level the prices moved lower and rapidly approached the level 10600. The price struggled with the 50-EMA to grind lower. The moving averages in the 4 hours chart maintained their bullish slope. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

DAX may extend its losses towards 10600. Should this mark be reached successfully, an extension towards 10550 could be observed further. A recovery due to profit-taking towards 10700 is possible.



NASDAQ

General overview

Wall Street opened lower on Wednesday as Apple disappointing earnings and weaker oil prices dragged the shared down. The market will be focused on Boeing and Coca-Cola Company earnings reports in the coming sessions.

Current situation

The sentiment remained negative in the market. The bearish momentum was strong enough to push the price lower on Wednesday. The NASDAQ index broke 4865 and headed towards 4835. The price is approaching the neutral 100-EMA which may slow down its weakening. The 100 and 200 EMAs are neutral, while the 50-EMA is heading higher. The resistance is seen at 4865, the support is at 4835.

MACD is in the positive area. The histogram decrease which indicates the buyers’ positions weakening. RSI oscillator is heading north.

Trading recommendations

The level 4835 remains the key support area to watch for. A bearish continuation through 4835 should lead to a continued slide, with 4800 as the first probable target. On the other hand, a return above 4865 will neutralize our near term negative outlook.




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

 

"Fort Financial Services"- fundamental and technical analysis.

28.10.2016

Euro

General overview

There were no major events on the schedule in the EU. The market was focused on Initial Jobless Claims and Durable Goods Orders releases.

Current situation

The EUR/USD pair was weak during the Asian hours on Thursday. The price touched the level 1.0900 where the downward momentum faded. The pair bounced off the level and was able to strengthen, reversing some of its losses in the European tardes. According to 1 hour chart the price is above 100-EMA which provides a solid support for the euro. The 50 and 100 EMAs are neutral, while the 200-EMA is heading south. The resistance comes in at 1.0950, the support lies at 1.0900.

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

Trading recommendations

The level 1.0900 limits the euro weakening. Should that level break down and the EUR/USD may move to 1.0850. A daily close above 1.0950 will ease the downward pressure and will allow the common currency to strengthen towards 1.1000.



Pound

General overview

The better-than-expected GDP report temporally supported the pound. The sterling was able to strengthen across the board. However, the US dollar quickly reversed its losses, limiting the further pound gains.

Current situation

The GBP/USD remained within a narrow range not far from the 1.2200 support level during the day on Thursday. Its latest recovery was stopped around the mark 1.2150 which knocked-off the rate downwards. The pound spent the night at the 1.2200 handle and slightly strengthened in the mid-European session. The GBP/USD weakened in the North American session. The sterling bounced from the 50-EMA, around 1.2200 in the 1 hour chart. The GBP/USD moved upwards and broke the 200-EMA in the same chart. The 50 and 100 EMAs are neutral, while the 200-EMA is moving downwards. The current resistance is seen at 1.2300, the support is at 1.2200.

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

Trading recommendations

If the GBP weakness persists the GBP/USD pair will get below 1.2200. In this scenario, sellers will move the price towards 1.2100. A move above 1.2300 would ease the downward pressure. Buyers will be able to push the price to 1.2350.



Yen

General overview

The dollar remains around three-month highs against the yen. The US treasury yields strengthening and expectations over the Fed rate-hike support the US dollar across the board.

Current situation

The dollar grew above the yen on Thursday. The USD/JPY reversed all its losses which it had suffered the other day. The price remained in an upward channel. The pair bounced off its lowest limit and moved towards 105.00 during the course of the day. The price developed well above the moving averages which are all pointing higher in the 4 hours chart. The resistance can be found at 105.00, the support comes in at 104.50.

MACD has formed signal to rise. The RSI indicator continues consolidating within overbought levels.

Trading recommendations

To retain bullishness for further gain to 105.00 the USD/JPY needs to hold above 104.50. On the other hand, a daily close below 104.50 would risk the 104.00 level.



USD/CAD

General overview

The current crude oil correction kept on weighing on CAD. Besides, the BoC dovish comments last week weakened near-term Canadian dollar perspectives.

Current situation

The USD/CAD bullish perspective remained intact on Thursday. The pair stayed almost unchanged around 1.3400 which appeared to be a critical barrier for the pair. The price slightly moved lower ahead of the NY opening. The USD/CAD stayed above the moving averages with a bullish 50-EMA providing support for the price in the 1 hour chart. The pair seems to be struggling with the 50-EMA to move lower now. All moving averages (50, 100 and 200) are pointing higher in the mentioned time frame. The resistance is at 1.3400, the support can be found at 1.3330.

The MACD indicator continues consolidating within overbought levels. RSI stuck within overvalued area.

Trading recommendations

A break above 1.3400 will allow the dollar to extend its gains towards 1.3470. A break below 1.3330 should send this market looking for the 1.3250 level.



XAUUSD

General overview

Gold strengthened on Thursday as the uncertainty over the timing of future rate hike and the upcoming the United States presidential election of 2016 support the safe-heaven demand. Besides, gold prices extended their gains after disappointing U.S. durables goods data.

Current situation

Gold prices slightly changed during the day, remaining around 1270 dollars per ounce. The price was inactive after a sharp decrease on Wednesday. The XAU/USD slightly grew from 1265 to 1270, reversing a minor portion of its recent losses. The pair tested the level 1270 ahead of the NY session. Yellow metal remained between the 100 and 50 EMAs in the 4 hours chart. The 50 and 100 EMAs are neutral, while the 200-EMA is pointing lower. The resistance is at 1270, the support comes in at 1260 dollars per ounce.

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

Trading recommendations

The pair may return to monthly high at 1275 after a daily close above the level 1270 dollars per ounce. A close below 1265 will retain the downward pressure.



Brent

General overview

The persisting political instability in Venezuela combined with stronger Asian demand slowed down oil prices weakening, providing them temporal support.

Current situation

Brent oil prices had a positive day on Thursday. After a sharp decline the other day the price moved upwards, erasing its previous losses. The price moved higher on the back of profit taking. Besides, several fundamental factors supported the demand for Brent futures. Prices accelerated their growth at the NY opening. Brent oil futures broke the level 50.50 and extended their gains towards 51.50. The price bounced from the 200-EMA in the 4 hours chart. The 200-EMA is neutral, the 100 and 50 EMAs are pointing lower. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel.

MACD is in the negative area. MACD grew which confirms the sellers’ positions weakening. The RSI bounced off the oversold area.

Trading recommendations

If the immediate upward pressure persists Brent futures might extend the recovery towards 51.50.



DAX

General overview

European stocks edged lower despite positive earnings reports from Deutsche Bank and Barclays. The commodity sectors weakening led losses in Europe.

Current situation

DAX enjoyed a mixed session through trade on Thursday. The index was growing during the Asian hours and turned lower post-European open. Prices were able to strengthen to 10778 where sudden downward impetus sent prices below the current support 10700. Buyers did not have strength to recover, the benchmark got under selling pressure on any up-move above the level. The price failed to take out the 50-EMA which provided a strong resistance for it. The 50-EMA rejected the DAX index downwards, the price got under 100-EMA which provided additional resistance for the price. The resistance is seen at 10700, the support is at 10600.

MACD is in the positive area. The histogram decrease which indicates the buyers’ positions weakening. RSI was neutral during the day.

Trading recommendations

The level 10800 seems the next probable bullish target. A daily close below 10700 might force the DAX index to resume its downward trajectory.



S&P500

General overview

The U.S stocks traded higher during the day and turned lower at the beginning of the New York session. The stocks turned lower despite strong quarterly earnings report in the healthcare and technology sectors.

Current situation

The index trade higher during the Asian and European sessions on Thursday. The benchmark turned lower at the beginning of the NY session. The price broke the level 2140 and set a daily high at 2143 when the price turned down and dropped below the level. After breaking the level S&P500 extended its losses and moved towards 2130. Prices bounced off the 200-EMA, turned around and broke the 100 and 50 EMAs on its way downwards. All moving averages are pointing lower in the 4 hours chart. The resistance is seen at 2140, the support is at 2130.

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 oscillator is within neutral area.

Trading recommendations

The S&P500 now seems to be heading towards its immediate support near 2130. A solid break below the level will send the market towards 2120.



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

 

"Fort Financial Services"- fundamental and technical analysis.

31.10.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



AUD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



NASDAQ

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

01.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



NZD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



S&P500

General overview

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

Current situation

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

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

Trading recommendations

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



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

 

"Fort Financial Services"- fundamental and technical analysis.

02.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



AUD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



NASDAQ

General overview


Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

03.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



NZD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview


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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

A move below 10400 will open the way towards 10350.



S&P500

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

04.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



USD/CAD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



NASDAQ

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

07.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



AUD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



S&P500

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

09.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



USD/CAD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



NASDAQ

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

10.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



AUD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



SP500

General overview

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

Current situation

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

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

Trading recommendations

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



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

 

"Fort Financial Services"- fundamental and technical analysis.

11.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



NZD/USD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



NASDAQ

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

14.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



USD/CAD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



S&P500

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

14.11.2016

Euro

General overview

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

Current situation

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

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

Trading recommendations

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



Pound

General overview

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

Current situation

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

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

Trading recommendations

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



Yen

General overview

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

Current situation

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

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

Trading recommendations

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



USD/CAD

General overview

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

Current situation

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

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

Trading recommendations

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



XAUUSD

General overview

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

Current situation

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

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

Trading recommendations

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



Brent

General overview

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

Current situation

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

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

Trading recommendations

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



DAX

General overview

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

Current situation

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

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

Trading recommendations

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



S&P500

General overview

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

Current situation

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

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

Trading recommendations

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




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

 

"Fort Financial Services"- fundamental and technical analysis.

15.11.2016

Euro

General overview

The euro slightly retreated from eleven month lows amid mixed Eurozone data staying in the red in the light of Donald Tramp victory.

Current situation

The euro gapped lower at the open when prices jumped from 1.0850 to 1.0830 on Monday. The euro did not fill the gap and continued moving downwards, trading in a near-term descending channel. The pair met a barrier around 1.0800 which slowed down its downward trajectory during the Asian hours. After a brief consolidation phase the EUR/USD managed to break the level and extended its losses towards 1.0750. Sellers tested the level and set a daily low at 1.0727 post-European open. After testing 1.0750 the common currency temporally rolled back above the broken level. Sellers broke the level and moved prices lower in the NY session. The prices are well below the moving averages in the 4 hours chart. The moving averages direction is downwards. The resistance is seen at 1.0750, the support could be found at 1.0700.

According to the technical indicators the EUR/USD is oversold and holds within negative levels. The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

A break below 1.0700 will trigger the next leg of move for the pair. In this scenario sellers will push prices lower and may test the level 1.0650. To ease the downward pressure the EUR/USD pair needs to return to 1.0850.



Pound

General overview

There were no macroeconomic releases in the UK on Monday. Risk-off sentiment made risky retreat keeping the pound into fresh lows. The weak Chinese Industrial Production and Retail Sales weighed on the British pound as well.

Current situation

The pound gapped lower at the open on Monday. Prices dropped from 1.2594 to 1.2564 and almost filled the gap in the mid-Asia. The market reached the mark 1.2591 where a new wave of selling interest turned them around. Sellers moved the price lower and were able to test 1.2500 ahead of European opening. The pair pierced the level, recorded a daily low at 1.2450 and immediately rolled back. The neutral 200-EMA stopped the sellers’ downward impetus. The 50-EMA is crossing the 100-EMA upwards. Both lines keep heading higher. The current resistance is seen at 1.2600, the support is at 1.2500.

Technical indicators are now giving bearish signals. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area and headed south.

Trading recommendations

The market seems to have switched its tone to bearish. The ongoing decline may be attributed to some profit taking from bulls after last week rally. A solid break below 1.2500 will increase chances of testing the 1.2400 mark. A move lower will neutralize the current positive scenario sending the pair to 1.2300.



Yen

General overview

The yen got under selling pressure after Bank of Japan Governor Haruhiko Kuroda's speech. Despite the positive GDP for Q3 domestic demand is too weak to support the Japanese currency.

Current situation

Fresh buying pressure around the U.S. dollar boosted USD/JPY to fresh highs. The price remained in an ascending channel, trading around its upper end. Buyers were able to test the level 108.00 where prices stayed till the end of the European session. Buyers broke the level and extended their gains in the NY session. The pair is well above the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs accelerated their growth. All lines are pointing higher. The resistance can be found at 108.50, the support comes in at 108.00.

Technical indicators keep heading north within positive territory. The histogram grew which is a buy signal. RSI is consolidating within positive territory.

Trading recommendations

The greenback needs to break 108.00 to retain bullishness for further gain to 108.50. Sellers will do their best to return the market. The 106.50 level is their first target.



AUD/USD

General overview

The Australian currency slightly changed on Monday trading around monthly low as a weak Chinese data weigh on the AUD.

Current situation

The Aussie fell to the lowest in 4 weeks on Friday. The price left the near-term ascending channel and dropped below 0.7600. The market is in bears' hands now. The Australian currency found some temporal support around 0.7540 and remained confined within a trading range around the level. The pair went back and forth during the course of the session on Monday. Buyers failed to lead the price above 0.7560, at the same time sellers were unable to push prices below 0.7520. The price remained below the moving averages in the 4 hours chart. The 50-EMA crossed the 100 and 200 EMAs downwards in the mentioned timeframe. All moving averages are going downwards. The resistance is at 0.7570, the support can be found at 0.7540.

The technical indicators headed sharply lower within negative territory. MACD remained at the same level which confirms the strength of sellers. The RSI oscillator is consolidating within negative area.

Trading recommendations

If the downward trajectory remains intact we could see the pair extending down to the 0.7500 region during the next days. A bounce off the current support level may give bulls a chance to reverse some losses towards 0.7580.



XAUUSD

General overview

Gold prices remained under pressure trading around 5 month low being under pressure as U.S. elections results continued weighing on market sentiment. Majority of investors believe that the Fed will hike the rate in December that weighed on the market sentiment as well.

Current situation

Gold prices bounced off the border of the oversold zone on Monday. Sellers failed to extend decline below 1210 dollars per ounce and buyers took a chance to reverse some losses. The yellow metal broke the level 1220 and almost reached 1230 where the buying momentum lost its leg. The price faced another downside pressure and returned below 1220. Traders tested 1210 at the beginning of the New York session. Prices traded below the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are moving south. The resistance is at 1220, the support comes in at 1210 dollars per ounce.

MACD is in the negative territory. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

If risk-on sentiment remains intact gold prices will weaken further. A firm break below 1220 handle would open the door for testing the levels 1210 and 1200 dollars per ounce.



Brent

General overview

Oils prices traded onto fresh lows on Monday amid renewed glut concerns and growing number of the US drilling rigs. Moreover, investors doubt that the OPEC members will come to an agreement with the output freeze.

Current situation

Oil prices remained around their lowest mark in three months. Black gold resumed its decline after brief consolidation above 44.50 on Monday. Sellers broke the level 44.50 dollars per barrel mid-Europe and extended two straight sessions of losses towards the mark 44.00. Sellers were unable to move oil futures lower and spent the rest of the day around the fresh lows. Brent oil prices remained below the moving averages in the 4 hours chart. The resistance is at 44.50, the support comes in at 43.50 dollars per barrel.

MACD is in the negative territory. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI oscillator is consolidating within negative area.

Trading recommendations

The price eyes strong support at 43.50 loss of which would trigger further weakness towards 42.50 dollars per barrel.



DAX

General overview

Shares in European banks traded higher on Monday amid financial and mining sectors rise.

Current situation

DAX prices gapped higher at the open on Monday. Prices jumped and tested 10800 but failed to reclaim the level. The index bounced off the resistance and moved lower. Traders manage to test the 10700 support level which seems to be guarded by bulls as prices bounce off the level on every attempt to downside. The benchmark prices are above the moving averages in the 4 hours chart. The moving averages maintained their moderately bullish slope. The resistance is seen at 10700, the support is at 10600.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within positive levels.

Trading recommendations

If sellers break the level 10700 they will be able to extend their losses towards 10600 and further out to 10500.



NASDAQ

General overview

The Nasdaq Composite fell on Monday amid Apple, Facebook and Microsoft shares decline. Moreover, the US stocks are affected by a selloff in the global bond markets as investors still weigh up Trump victory and his future policies.

Current situation

The Nasdaq Composite opened lower on Monday. The index remained under heavy selling pressure during the day. Traders broke the level 4740 and tested 4710 in the NY session. Prices bounced off the 100-EMA in the 4 hours chart and moved lower. NASDAQ broke the 50-EMA post-American open. The moving averages headed lower in the same chart. The resistance is seen at 4740, the support is at 4710.

Technical indicators are now giving bearish signals. 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 going south which confirms the current downward movement.

Trading recommendations

4710 seems the next probable bearish target. A daily close below the level would risk 4680.




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

 

16.11.2016

Euro

General overview

The euro strengthened on Tuesday despite a weaker GDP in Germany. The single European currency strengthened on the back of stronger-than-expected Economic Sentiment in Euroland.

Current situation

The pair remained in the red figures on yesterday's trades. The EURUSD touched an 11-month low on Monday before pulling back yesterday. The euro regained lost footing versus its American counterpart on Tuesday. Prices bounced off the border of the oversold zone and were able to escalate to 1.0800. The common currency just tested the mentioned level and rolled back post-Europe open. The pair broke the 50-EMA in the 1 hour chart. All moving averages kept moving lower. The resistance is seen at 1.0800, the support could be found at 1.0750.

The indicators remained in extreme oversold levels. MACD grew which indicates the sellers’ positions weakening. RSI bounced off the oversold area.

Trading recommendations

A break above 1.0800 will extend the current rebound. In this scenario the EUR/USD pair may test the 1.0850 level and fill the Monday's gap. If bears retain control prices may fall to 1.0650.



Pound

General overview

The strong UK Producer Price Index failed to support the pound which softened after a decline UK October's inflation figures.

Current situation

The pound remained under pressure and continued its slide on Tuesday. GBP/USD traded within a tight range during the Asian hours and moved lower ahead of the European opening. The price accelerated its decline and was able to test the 1.2400 level in the mid-European session. The pair broke the 200-EMA and tested the 100-EMA during the European hours. The moving averages were neutral in the 4 hours chart. The current resistance is seen at 1.2500, the support is at 1.2400.

The technical indicators headed lower within positive territory. MACD decreased which indicates the buyers’ positions weakening. RSI is going downwards which confirms the growing strength of sellers.

Trading recommendations

We believe bears will keep control over the market during the next days. A close below the support at 1.2400 could see GBP/USD extend its declines down to 1.2300.



Yen

General overview

The greenback holds steady around 14-year high as the increasing bets of an eventual Fed rate-hike action support the dollar across the board.

Current situation

Traders held the pair onto fresh high, staying in a tight range between levels 108.00 and 108.50 in the yearly trades on Tuesday. Buyers tried to push prices higher but they met sellers’ resistance on every attempt to the upside. Bulls finally broke the level and trended higher in the NY session. The USD/JPY pair stayed above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope. The resistance can be found at 108.50, the support comes in at 108.00.

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

Trading recommendations

We believe a minor technical correction is on the way. A move below 108.00 will put on hold bulls’ plans. A daily close below the level will favor an advance down to the 107.50 region. A move lower will target the market at 107.00 and 106.50.



NZD/USD

General overview

The New Zealand currency strengthened on Tuesday as markets calmed down after the recent earthquake and Donald Trump victory.

Current situation

The overall picture remained firmly bearish. Prices traded around the 0.7100 region during the course of the day. Buyers tried to develop an upward correction, however, prices came under renewed selling pressure around 0.7150 at the beginning of the Asian session. The pair returned to the 0.7100 region where it spent the rest of the day. The 1 hour chart shows that the price is currently struggling with a bearish 50-EMA which acts as a resistance for it. The 50, 100 and 200 EMAs accelerated their declines. All moving averages kept heading lower. The resistance is at 0.7150, the support can be found at 0.7100.

MACD grew which indicates the sellers’ positions weakening. RSI left the undervalued area heading north.

Trading recommendations

The pair has a chance to strengthen while it stays above 0.7100. The level 0.7150 is the probable bulls’ target. However, further weakening towards 0.7070 is not ruled out.



XAUUSD

General overview

Gold prices upside momentum was limited by growing speculations over a possible Fed rate-hike in December.

Current situation

Gold prices were range-bound-to higher on Tuesday. The yellow metal stayed between 1230 and 1220 dollars per ounce during the course of the trades. The pair tried to grow, however, its recovery stalled at 1230. Prices just tested the level and bounced from it. The XAU/USD pair spent the rest of the day in the middle of the range. The price remained below the main moving averages which are all pointing lower in the 1 hour chart. The precious metal struggled to take out 50-EMA barrier during the day. The resistance is at 1230, the support comes in at 1220 dollars per ounce.

The technical indicators maintained their bearish momentum within negative territory. MACD slightly grew which indicates the sellers’ positions weakening. The RSI indicator continued consolidating within oversold levels.

Trading recommendations

In order to recover some strength, the XAU/USD needs to rise and hold above 1230 - 1235 dollars per ounce. On a wider perspective the gold could gain momentum, if it recovers above the 1250 area.



Brent

General overview

Oil prices strengthened on hopes that the OPEC members will come to an agreement with an output cut.

Current situation

Market’s positive mood persisted, oil prices extended their short-term upward trajectory yesterday. Prices bounced off the oversold level at 43.50 and headed north. Brent futures broke the level 44.50 and continued moving higher afterwards. The bulls briefly slowed down approaching the 45.50 region. However a new buying interest around the level fueled their positive sentiment. The benchmark broke the level and extended its gains. According to the 1 hour chart prices broke the 50-EMA and tested the 100-EMA which rejected them downwards mid-European session. After rolling back buyers attacked the moving again and broke it upwards this time. Prices moved to the 200-EMA after breaking the level which stopped their further strengthening. The moving averages kept heading lower in the same chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. RSI moved upwards heading away from the oversold levels.

Trading recommendations

Brent oil futures looked positive yesterday. When the price consolidates above the level 45.50 the resistance 46.50 will come back into play.



DAX

General overview

European stocks traded higher on Tuesday following the energy shares growth. Mining shares sharply fell weighing on shares in European banks.

Current situation

Bears are attempting to control the market now. The index struggled with 10700 to move lower during the day. Buyers seemed to be guarding the level holding prices around it. The 1 hour chart showed that the 50-EMA stopped the DAX index further losses. The 50-EMA is neutral while the 100-EMA crossed upwards the 200-EMA in the same chart. The resistance is seen at 10700, the support is at 10600.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within positive levels tending to move lower.

Trading recommendations

In the event that the sellers manage to force below 10700 we could see prices testing the level 10600 in the nearest time. On the other side a bid tone maintains while the index stays above 10700. Buyers may extend their gains towards 10800.



S&P500

General overview

Wall Street opened higher being supported by energy stocks growth. Investors keep an eye on Trump's new policies and key appointments to his administration.

Current situation

The index traded flat as the neutral phase that started last week was intact. Prices stayed in a wide range between levels 2150 and 2170. Sellers are gaining more control limiting buyers' attempt to take out 2170. The benchmark bounces off the level on any up-move to it. S&P500 stayed around the 50-EMA in the 1 hour chart. The 50-EMA provides a solid support limiting the index further losses. The 50-EMA is neutral while the 100 and 200 EMAs are pointing higher. The resistance is seen at 2170, the support is at 2160.

MACD decreased which indicates the buyers’ positions weakening. RSI moved downwards.

Trading recommendations

After a daily close below 2150 we could see the pair extending down to the 2140 region during the next days.




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

 

17.11.16

Fundamental and technical analysis

Euro

General overview

The euro softened on the back of strong dollar and lack of drivers from the Eurozone. Moreover, investors keep pricing in the Fed possibility to hike rates in December.

Current situation

The EUR/USD failed to hold to gains and turned negative after the opening on Wednesday. The euro continued to grind lower and tested 1.0700 at the London open. The price touched the 50-EMA and bounced downwards in the 1 hour chart. All moving averages continued moving lower. The resistance is seen at 1.0750, the support could be found at 1.0700.

Technical indicators retained bearish signals. MACD remained in the negative area. The RSI oscillator consolidated within negative area.

Trading recommendations

We believe the euro will maintain its bearish momentum in the short-term. The 1.0700 level is likely to be broken soon and the level 1.0650 appears to be the next intraday support and probable bearish target.



Pound

General overview

Mixed employment data in the UK weighed on the pound. Average Earnings including Bonus fell together with Claimant Count Change while Unemployment Rate grew.

Current situation

As for the technical outlook the pair held a bullish tone during the Asian and European hours on Wednesday. The pound was hovering above 1.2400 trying to extend its recovery. The level 1.2500 appeared to be a strong barrier on its way upwards. After testing the level prices rolled back and reached 1.2400 ahead of the NY session. The price kept struggling with the 200-EMA ahead of London opening. The line limited its further gains in the 4 hours chart. The moving averages are neutral in the same chart. The current resistance is seen at 1.2500, the support is at 1.2400.

Technical indicators are neutral now. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. The RSI indicator was holding near overbought levels, favoring a move lower.

Trading recommendations

Failure to hold above 1.2500 risks a slide to 1.2400. After breaking 1.2400 the level 1.2300 will come back to the radar.



Yen

General overview

The USD/JPY continued with gains due to risk-on sentiment. Nikkei 225 reached the highest since February supporting the safe heaven yen. The U.S. dollar is strong across the board amid renewed hopes that the Fed will hike the rate this year.

Current situation

The pair trades in an upward channel. The U.S. dollar was hovering near multi month highs against its Japanese counterpart on Wednesday. The dollar climbed higher and reached the mark 109.50 in the mid-European session. Traders failed to extend their gains, the price turned around and retreated back to 109.00. The USD/JPY pair traded well above the moving averages in the 4 hours chart. The moving averages 50, 100 and 200 accelerated their growth. The resistance can be found at 110.00, the support comes in at 109.00.

The technical indicators retained bullish signals. MACD remained at the same level which confirms the strength of buyers. RSI consolidated within positive territory.

Trading recommendations

The price seems to be heading towards its immediate resistance at 110.00. Should this mark be reached successfully, a further extension towards 110.50 could be observed further. A break below 109.00 will ease the upward pressure. The USD/JPY may soften to 108.00 and lower to the mark 107.50.



USD/CAD

General overview

The USD/CAD strengthened on Wednesday amid oil prices decline.

Current situation

The pair is in an ascending channel, trading around its lower boundary. A two day decline was stopped when prices met a barrier around 1.3400. Prices bounced from the oversold area and trended upwards during the course of the day. The US dollar broke the level 1.3470 in late European trades. After breaking the level the USD/CAD extended its gains heading towards 1.3540. The bullish spike faded after testing the 1.3500 mark. The USD/CAD pair came across a selling pressure and returned to opening prices. The price bounced off the 50-EMA in the 4 hours chart. The moving averages extended their growth in the same chart. The resistance is at 1.3470, the support can be found at 1.3400.

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 headed north.

Trading recommendations

The pair is turning bullish now. A consolidation above 1.3470 will strengthen buyers' positions. Bulls may lead prices towards 1.3540.



XAUUSD

General overview

Gold prices traded higher on Wednesday however its gains are limited due to renewed expectations that the Fed will hike rates in December.

Current situation

A consolidation phase remained intact on Wednesday. Buyers managed to reverse just a minor part of their losses before the recovery action stalled around 1230 dollars per ounce. An attempt to reclaim the 1230 level failed during the European trades. The yellow metal rolled back immediately after the level test. According to the 1 hour chart the pair failed to break the 50-EMA. The moving appeared to be a solid barrier which rejected the yellow metal downwards. The moving averages pointed lower in the mentioned timeframe. The resistance is at 1230, the support comes in at 1220 dollars per ounce.

The technical indicators headed lower within negative territory. MACD remained at the same level which confirms the strength of sellers. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

The price came across fresh selling offers around 1230 dollars per ounce. A failed test of the barrier may renew the selling interest sending prices to 1210 through 1220.



Brent

General overview

Oil prices hold onto gains despite the U.S. crude inventories increase.

Current situation

Oil prices retreated from 2 week high on Wednesday. The benchmark met a barrier around 47.50 where buyers lost strength and turned around. Traders pushed Brent futures down and tested 46.50 dollars per barrel in the mid-Europe trades. The ongoing weakening could be attributed to some profit taking from bull following two day rally. Brent oil prices bounced from the 100-EMA and moved lower. The price is sandwiched between the 50 and 100 EMAs in the 4 hours chart. The moving averages direction is downwards. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

The indicators bounced from oversold level. MACD decreased which indicates the buyers’ positions weakening. RSI moved downwards.

Trading recommendations

Buyers are unable to climb above 47.50 for now. Bears took control over the market and drove prices lower. Should the Brent prices lose ground and advance below 46.50, the decline can extend in the short term to 45.50 first. The second sellers' target lies at 44.50 dollars per barrel.



DAX

General overview

European shares traded higher amid mining stocks strengthening alongside with Wire Card and Bouygues shares.

Current situation

The index traded in a wide range between 10700 and 10800 during the first part of the day. Sellers seemed to be getting more control as weak buyers failed to retake the 10800 mark. The index sharply moved below 10700 and tested 10600 post-European open. The price tested the 50-EMA in the 4 hours chart. The moving briefly slowed down the index decline. The moving averages presented modest bullish slopes. The resistance is seen at 10700, the support is at 10600.

MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area and moved south.

Trading recommendations

The overall picture is bearish now. Firm break below 10700 handle would open the way to 10600 and further out to 10500.



NASDAQ

General overview

Wall Street moved lower on Wednesday amid oil prices decrease.

Current situation

The market sentiment switched to a bearish one. The benchmark recovery lost legs just above 4770. The index turned around and softened right after piercing the level. NASDAQ now seems to be heading towards its immediate support near 4740. A failure test of the 100-EMA caused a sell-off and the index weakening. The price is in-between the 100 and 50 EMAs in the 4 hours chart. The lines act as a resistance and a support for the benchmark. The resistance is seen at 4770, the support is at 4740.

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 moving downwards.

Trading recommendations

The further upmove is expected to face stiff barrier around the current resistance. The index is overbought and the move below 4740 shall ease the buying pressure. Sellers will try to drive prices to the level 4710.



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

 

18.11.2016

Euro

General overview

The Eurozone CPI for October matched the estimates while CPI monthly reading fell short-of expectations. The dollar slightly softened but remained onto fresh highs. The dollar continued getting support from market expectations for a December Fed rate-hike and possible improvements in economic growth.

Current situation

The market sentiment was negative on Thursday. The EUR/USD remained in a descending channel, close to its lower boundary. The price was quite during the Asian trades around recent lows at 1.0700. The euro bounced from 1.0700 and moved higher in the European session. The upward momentum ran out of steam when approached the level 1.0750, as a result the common currency moved back. The moving averages maintained their bearish slope in the 1 hour chart. The euro broke the 50-EMA and tested the 100-EMA in the same chart. The resistance is seen at 1.0750, the support could be found at 1.0700.

The technical indicators maintained bearish momentum within negative territory. The MACD and RSI indicators continued consolidating within oversold levels.

Trading recommendations

A failure to hold above 1.0700 risks a slide to 1.0650. At the same time a further strengthening will not be possible until the pair breaks above 1.0750.



Pound

General overview

The pound strengthened on the back of better-than-expected Retail Sales.

Current situation

The British currency was range-bound-to lower during the Asian hours on Thursday. The GBP/USD strengthened ahead of the Europe opening. The price spiked and tested the upper limit of the range. However the pair rolled back when the advance lost upward momentum. Prices bounced upwards from the 50-EMA in the 4 hours chart. The upward trajectory was stopped by the 200-EMA. The moving averages are still neutral. The current resistance is seen at 1.2500, the support is at 1.2400.

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

Trading recommendations

The pound needs fresh drivers to leave the current range. A break above 1.2500 will open the way towards 1.2550. A daily close below 1.2400 would risk 1.2350.



Yen

General overview

The yen retreated from the daily highs after the BoJ’s decision to buy unlimited amount of JGBs.

Current situation

Fresh buying pressure around the U.S. dollar boosted USD/JPY to fresh highs. After refreshing highs at 109.76 prices rolled back and returned to the nearest support region. The pair was under pressure struggling hard with the 109.00 level to go lower on Thursday. The pair bounced from the support 109.00 and trended higher ahead of the NY opening. The price tested and bounced upwards from the 50-EMA in the 1 hour chart. The 50-EMA became a solid barrier which limited the dollar further weakness. All moving averages were pointing higher. The resistance can be found at 110.00, the support comes in at 109.00.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator was holding near overbought levels.

Trading recommendations

The overall outlook is neutral/bullish. A firm break below 109.00 handle would open the way towards 108.00. Nevertheless, we would be buying the pair until it stays above 109.00.



AUD/USD

General overview

The Aussie edged lower on Thursday on the back of weaker jobs data.

Current situation

The AUD/USD slightly strengthened in the Asian session on Thursday. Prices were able to escalate to 0.7500 where a bid tone lost its legs. The price weakened and returned to opening prices in the mid-Asia. Sellers struggled with buyers to break the 0.7470 level during the European session. The AUD/USD pair finally broke the level ahead of the NY opening. After breaking 0.7470 the Aussie continued to lose its value. The pair remained well below the moving averages in the 4 hours chart. The moving averages extended their decline. The resistance is at 0.7470, the support can be found at 0.7435.

The MACD histogram decreased which is a sell signal. RSI remained within oversold levels.

Trading recommendations

After a daily close below 0.7470 we could see the pair extending down to the 0.7435 region during the next days.



XAUUSD

General overview

Gold prices gained on yesterday's trades when the dollar moved from the 14 years high. Besides, the markets took a breath awaiting for J.Yellen's testimony.

Current situation

Gold prices remained flat on Thursday. The trading range narrowed and prices traded between 1225 and 1230 dollars per ounce during the day. The yellow metal slightly grew from the lower limit of the range to its upper one. However its recovery stalled after testing the 1230 level. According to 1 hour chart the pair broke the 50-EMA and tested the 100-EMA. The 100-EMA slowed down the XAU/USD pair acting as a resistance. The 50-EMA is neutral in the mentioned timeframe while the 100 and 200 EMAs maintained their bearish slopes. The resistance is at 1230, the support comes in at 1220 dollars per ounce.

MACD grew which indicates the sellers’ positions weakening. The RSI oscillator consolidated within negative levels.

Trading recommendations

A break above 1230 will suggest further extension towards 1240. Conversely, a strong breakdown and close below 1220 could send prices lower towards 1210 dollars per ounce.



Brent

General overview

Oil prices turned higher on Thursday after Saudi Energy Minister Khalid al-Falih's testimony that he was optimistic over OPEC preliminary oil freeze deal which was reached in September.

Current situation

Brent had a positive day on Thursday. Bulls maintained control extending their near-term upward trajectory. A fresh buying interest around 46.50 pushed the benchmark higher. Oil prices rallied and reached the level 47.50 ahead of the NY session. The benchmark started the day between the 50 and 100 EMAs in the 4 hours chart. Brent futures were able to test the 100-EMA ahead of the New York session. The 50-EMA is neutral while the 100 and 200 EMAs kept moving lower. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

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

Trading recommendations

If Brent futures break 47.50 the level 48.50 may become an attractive target for bulls.



DAX

General overview

European stocks traded higher focusing on Yellen's speech. The mining stocks added while the financial stocks were on the downside. South African Investec company jumped to 6-month high after its latest corporate earning report.

Current situation

The index gapped higher at the open on Thursday. Traders were unable to develop an upward trajectory which immediately faded after the gap. Prices turned lower and dropped to 10600 where they stayed before the North American session. The 50-EMA stopped the downward impetus rejecting prices upwards. The moving averages are neutral in the 4 hours chart. The resistance is seen at 10700, the support is at 10600.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards.

Trading recommendations

The DAX index will remain in bulls’ hands while the benchmark holds above 10600. Only a clear break below the level will ease the current bid sentiment. In this scenario sellers will lead prices to 10500. A failure to break the current support level will suggest an upward continuation towards 10800.



S&P500

General overview

Wall Street opened neutral awaiting for Federal Reserve Chair Janet Yellen's speech.

Current situation

After refreshing monthly highs at 2184 the index rolled back. S&P500 softened to the mark 2170 which stopped its decline. The index remained onto fresh highs staying between 1270 and 1280 on Thursday. The 1 hour chart showed that the price stayed around the 50-EMA which limited its downside extension. The moving averages maintained bullish slope. The resistance is seen at 2180, the support is at 2170.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator was near overvalued territory.

Trading recommendations

A strong break and close above 2180 could send prices higher towards 2190. However, the benchmark is overbought and we do not exclude a large correction towards 2150.



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

"Fort Financial Services"- fundamental and technical analysis.

21.11.2016

Euro

General overview

The euro moved higher on Friday following Mario Draghi's promises to maintain stimulus until euro land inflation becomes self-sustainable. Despite the current weakness the dollar was supported by the strength of the US economy and Yellens' hawkish testimonials which reinforced market expectations that the FED would hike the rate next month.

Current situation

The pair has been under intense selling pressure since last week. The bearish trend remained intact on Friday. The price fell overnight and tested the level 1.0600 for the first time since December 2015. The EUR/USD found a temporal bottom around 1.0600 and stayed there in a consolidation phase during the European hours ahead of the US opening. The euro posted new yearly low at 1.0580 and bounced upwards, erasing its recent losses. The price moved lower in the North American session. The price was developing well below the moving averages which accelerated their decline in the 4 hours chart. The resistance is seen at 1.0600, the support could be found at 1.0550.

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

Trading recommendations

A break below 1.0600 might force the pair to resume its downward trajectory towards 1.0550. We do not rule out and a short-term correction on profit-taking. Buyers may raise prices to 1.0700.



Pound

General overview

Broad based US dollar weakness together with Ben Broadbent's supportive remarks did save pound from softening on Friday.

Current situation

The U.S. currency maintained control of the flows. The GBP/USD started the day around 1.2400, the pair slightly recovered overnight. Traders were able to push prices to the 1.2430 mark where the upward momentum faded. Sellers pushed prices lower in mid-Europe. The GBP/USD broke 1.2400, headed lower and tested 1.2300 during the NY hours. According to 1 hour chart the pair broke all moving averages and trended lower. The current resistance is seen at 1.2400, the support is at 1.2300.

MACD entered the negative area. If MACD remains within the negative readings, sellers’ positions will strengthen. RSI returned to the oversold area.

Trading recommendations

If the sterling remains under pressure we expect a breakout of the 1.2300 level. On the other side, in order to recover some strength, GBP/USD needs to rise back and hold above 1.2400.



Yen

General overview

The dollar slightly eased but remained in the green on Friday supported by strong US economy which made progress towards the Fed’s goals. The expectations that the Fed will hike interest rates in December gave the US dollar additional support.

Current situation

Market’s positive mood persisted, the pair extended its near-term upward trajectory on Friday. The dollar refreshed the multi year highs overnight. The pair remained in an ascending channel, staying around its upper boundary. The upward trajectory was stopped below 111.00 when the upward impulse lost its strength. The price traded above the moving averages which maintained their bullish slope. The resistance can be found at 111.00, the support comes in at 110.00.

The technical indicators stayed within positive readings. MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a new move higher.

Trading recommendations

The USD/JPY pair needs to stay above 110.00 to maintain its bullishness. Buyers may extend their gains if they break the level 111.00. In this scenario, the price will climb to 112.00. To ease the bulls' strength sellers need to push prices below 109.00.



NZD/USD

General overview

The NZD strengthened on Friday following the US dollar broad weakness amid some profit taking from the sellers' part. However, the current recovery appeared to be limited as the kiwi remained under pressure amid the divergence between the Fed and RBNZ policy path.

Current situation

Sellers continued to dominate on Friday. The NZD traded at multi month lows, maintaining a gloomy trend. The NZD/USD met a barrier at 0.7000 which rejected prices upwards. Buyers partly erased their losses when the price moved higher and approached the level 0.7050 post-Europe open. However, buyers failed to reclaim the level, the price just pierced the level and dropped back. The kiwi remained below the moving averages in the 4 hours chart. The 50-EMA crossed the 100 and 200 EMAs which accelerated their decline. The resistance is at 0.7050, the support can be found at 0.7000.

The indicators recovered from oversold levels, but remained within bearish territory. The MACD histogram decreased which indicates the sellers’ strength. RSI remained within oversold region.

Trading recommendations

If the bearish tone persists we expect a breakout of the level 0.7000 and an extension of the downward trajectory. After breaking the level sellers may extend their gains advancing towards 0.6950. An uptrend will start as soon, as the pair rises above the resistance level 0.7100. However, we stay bearish until then.



XAUUSD

General overview

Gold prices remained in the red staying around its lowest level since late May. Expectations regarding the Fed rate hike next month together with a stronger dollar weighed on the metal.

Current situation

Gold prices extended their weakness on Friday. After breaking the level 1210 dollars per ounce the pair found a descent support at 1200. Having touched the level the yellow metal bounced and returned to 1215. The bullish spike faded soon and the precious metal moved lower. The 1 hour chart shows that the XAU/USD remained below the moving averages which kept moving lower. The resistance is at 1210, the support comes in at 1200 dollars per ounce.

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

Trading recommendations

To trigger additional downward momentum gold prices need to break the 1200 level. Sellers will aim at 1190 right after the break. As the precious metal is heavily oversold we do not rule out a correction. Besides, the pair refreshed its monthly lows around the strong psychological level which may reject prices upwards. To ease the downward pressure buyers need to break above 1230 dollars per ounce.



Brent

General overview

Oil prices remained slightly strengthened on Friday amid prospect of a potential output cut.

Current situation

Oil prices extended their losses during the Asian session on Friday. After breaking 46.50 prices moved lower and stopped a few pips above 45.50 dollars per barrel. Having touched the level the benchmark bounced off and reversed a minor part of its losses. The upward impetus stalled at 46.84 when the benchmark softened and returned below 46.50. The 100-EMA stopped oil recovery. The line rejected oil futures downwards which fell to the 50-EMA. The price remained in-between the 50 and 100 EMAs during the NY hours. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel.

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

Trading recommendations

A break above 46.50 would open the way to 47.50. If the price overcomes 45.50 dollars per barrel we will neutralize our short term positive outlook. Inability to break above 46.50 will send this market downwards.



DAX

Current situation

DAX started the last day of the week around 10700. The index slightly grew and strengthened to the 10744 mark. Having refreshed the daily high prices dropped below the level 10700 and softened to 10645 afterwards. According to 1 hour chart the benchmark traded around the 50 and 100 EMAs. The 50, 100 and 200 EMAs were neutral. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

We expect the market to become bearish soon. A firm break below 10600 handle could trigger fresh weakness for attack at 10500.



NASDAQ

General overview

Wall Street opened higher on Friday due to tech stocks continued recovery. The possible rate hike in December supported the stocks as well.

Current situation

NASDAQ Composite was unmoved at the open on Friday. The benchmark managed to defend 4830 mark. Prices stayed at 4830 during the day and moved lower in the NY session. The index hovered about the 200-EMA in the 4 hours chart. The 200-EMA presented a moderate bearish slope. The 50-EMA moved upwards crossing the 100-EMA. The resistance is seen at 4830, the support is at 4800.

MACD remained at the same level which confirms the current buyers' strength. The RSI indicator is near overvalued territory, favoring a new move lower.

Trading recommendations

NASDAQ is oversold and we expect a move lower. The index needs to break below 4800 to neutralize the current bid tone.





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

 

"Fort Financial Services"- fundamental and technical analysis.

22.11.2016

Euro

General overview

The euro slightly gained on the back of broad based dollar retracement. However, investors stood still awaiting for Draghi’s remarks in the evening. Moreover, growing political risks in Italy and France kept on weighing on the single European currency.

Current situation

The price seems to have met a strong barrier around 1.0550. The euro bounced off the level and regained some of its lost footing versus its American counterpart on Monday. Despite the current positive sentiment the European currency remained in the red and we consider the current rebound as corrective. The pair remained in a descending channel and bounced from its lower limit. Buyers struggled with sellers to take out the level 1.0650 ahead of the NY opening. According to the 1 hour chart prices broke the 50-EMA at the Europe open. All moving averages are heading lower. The resistance is seen at 1.0650, the support could be found at 1.0600.

Technical indicators continued to recovery from oversold levels, but within bearish territory. MACD grew which indicates the sellers’ positions weakening. Besides, we noted a bullish divergence of MACD in the 1 hour chart. The RSI indicator lost downward strength and headed north.

Trading recommendations

A minor dollar retracement triggered some profit taking move following the pair's recent decline. A further dollar weakness may extend the current euro recovery. The pair will maintain its bid tone if it consolidates above 1.0650. In the event that buyers manage to force the above 1.0650 the EUR/USD may extend its upside towards 1.0700.



Pound

General overview

The pound was unmoved on the back of the empty calendar on Monday. In the light of this the dollar dynamics will remain the key driver for the GBP/USD pair in the short-term. Meanwhile, the dollar became more optimistic after Donald Trumps’ elections victory hoping that his fiscal policy will support economy growth expectations.

Current situation

The pound remained inactive trading in a tight range 1.2320 – 1.2370 during the Asian session on Monday. The sellers found a temporally support at 1.2300 and took a breath consolidating their gains. The sterling spiked upwards in the mid-Europe and tested 1.2400 ahead of the NY opening. The price tested the 50 and 100 EMAs in the 4 hours chart. The 50, 100 and 200 EMAs presented a moderate bearish slope. The current resistance is seen at 1.2500, the support is at 1.2400.

The indicators remained within negative territory and slightly changed from previous week readings. MACD remained at the same level which confirms the strength of sellers. The RSI indicator remained within oversold readings.

Trading recommendations

A clear strength above the immediate resistance may pave way for continuation of the pair's upward trajectory towards 1.2450 where the 200-EMA stands and may limit its upside tone. If a gloomy trend remains intact sellers will push the pair further and may refresh lows at 1.2200.



Yen

General overview

The yen posted losses on Monday amid a weaker Merchandise Trade Balance release. The dollar finds buying interest amid rising bets for an eventual Fed rate-hike action.

Current situation

Even though the USD/JPY pair was unable to climb higher and retreated almost immediately after testing 111.00 the pair remained in the green figures on Monday. The price remains in an upward channel and slightly moved from its upper boundary. The price hovered above the moving averages in the 4 hours chart. The moving averages direction is upwards. The resistance can be found at 111.00, the support comes in at 110.00.

MACD decreased which indicates the buyers’ positions weakening. We also noted a bearish divergence of MACD in the 1 hour chart. The RSI indicator remains within overbought readings.

Trading recommendations

A failure to break 111.00 may lead to the dollar softening and its decline to 110.00. A break below the level will suggests further weakness towards 109.00.



USD/CAD

General overview

The Canadian dollar traded lower on Monday as growing oil prices weighed on commodity currencies like CAD. A weak wholesale Sales report weighed on the CAD as well.

Current situation

The pair remained in a long term upward channel on Monday. Traders made an attempt to break the channel lower limit but failed. The bearish spike faded at 1.3434 and the price returned to 1.3470 post Europe open. Sellers took another chance to reclaim the level in the North American session. The pair tested the 50-EMA in the 4 hours chart. The moving presented a strong support for the price. The 50, 100 and 200 EMAs maintained their bullish slope in the same chart. The resistance is at 1.3540, the support can be found at 1.3470.

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

Trading recommendations

The longer term outlook will be bullish as long as the price holds above the 1.3400 support area. If a bid tone remains intact the pair may strengthen to 1.3540. A break below 1.3470 will ease the buying pressure. A move lower will neutralize it.



XAUUSD

General overview

Gold prices recovered on Monday however a precious metal remained in the red amid revived hopes of a Fed rate-hike in December. Markets are waiting for Trump's fiscal policy, expecting a new boost of economic activity.

Current situation

Technically, market sentiment remained negative on Monday. Gold prices met a barrier around 1200 dollars per ounce. Sellers lost strength and the pair was able to recover. The price reversed direction and escalated to 1215 post-Europe open. The yellow metal broke the 50-EMA and approached the 100-EMA in the 1 hour chart. The 100-EMA slowed its further recovery holding it a few pips below the moving. All moving averages kept pointing lower. The resistance is at 1220, the support comes in at 1210 dollars per ounce.

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

Trading recommendations

The price may extend its gains if it breaks above 1220. A break above the level may send prices to 1230. If the market fails to maintain its positive sentiment the precious metal will weaken to 1200 dollars per ounce.



Brent

General overview

Oil prices rose on Monday amid renewed hopes that OPEC members will agree to freeze oil production at the meeting in Vienna.

Current situation

Market’s positive mood persisted on Monday. Oil prices gapped higher at the open, prices jumped from 46.84 to 47.26 dollars per barrel. Brent continued strengthening after the gap and broke 47.50 in mid-Europe. After breaking the level crude oil price extended its gains towards 48.50. The benchmark bounced upwards from the 100-EMA during the European hours. After breaking the moving the price advanced towards the 200-EMA. The 50-EMA is turning upwards while the 100 and 200 EMAs kept heading lower. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

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

Trading recommendations

A strong breakdown and close above 47.50 could send prices higher towards 48.50. However, Brent is overbought and we do not exclude a large correction towards 45.50.



DAX

European stocks traded in the green ahead of Draghi' remarks. The stocks turned positive when Draghi said that the regulator will implement all possible measures if necessary.

Current situation

DAX kept the rangebound stance unchanged. The price remained between 10700 and 10600 during the Monday's trades. The benchmark softened and tested 10600 in the Asian session and reversed its losses during the European hours. The 100-EMA appears to be a hard barrier to take out. Despite the downward pressure the index bounced any time it touched the moving. The 100-EMA is neutral while the 200-EMA is pointing higher, the 50-EMA crossed the 200-EMA upwards and tested the 100-EMA in the 4 hours chart. The resistance is seen at 10700, the support is at 10600.

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

Trading recommendations

Sellers struggled hard to push prices lower. Nevertheless the 10600 level is a hard obstacle on their way downwards. If succeeded they will drive DAX to 10500. A bid tone remains intact while the price is above 10600. Buyers will keep attacking 10700.



S&P500

General overview

Wall Street opened in a flat, awaiting for (Fed) vice chair Stanley Fischer's remarks.

Current situation

The index preserved its short term bid tone on Monday. The price traded in a tight range a few pips above 2180. S&P500 traded above the moving averages in the 4 hours chart. The 50-EMA accelerated its growth while the 100 and 200 EMAs presented a modestly bullish slope. The resistance is seen at 2200, the support is at 2180.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator has lost upward strength consolidating within overbought levels.

Trading recommendations

The upward trajectory lacked momentum. Traders seem to be unable to climb higher. We expect a move lower. A firm break below 2180 handle could trigger fresh weakness for attack at 2160.




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

 

"Fort Financial Services"- fundamental and technical analysis.

23.11.2016

Euro

General overview

The dollar is still strong expecting a rate action by the Fed next month. Moreover, markets are waiting for new fiscal measures from Trump’s administration hoping them to boost the economy.

Current situation

The correction phase is still intact. The price traded below 1.0650 the whole day. Buyers failed to reclaim the level, the price bounced downwards every time it tested the level. The euro faced another wave of selling pressure ahead of the NY opening. Sellers pushed the price to 1.0600 and tested the level already in the North American session. According to the 1 hour chart the euro broke the 50-EMA and touched the 100-EMA. The 100-EMA stopped the euro recovery and rejected it downwards. The price moved down and returned below the 50-EMA. All moving averages are heading lower. The resistance is at 1.0650, the support comes in at 1.0600.

MACD decreased which confirmed the current strength of sellers. RIS remained within oversold levels.

Trading recommendations

The euro inability to break 1.0650 increases chances to the downside movement. A failure to reclaim the level may lead to a drop towards 1.0500.



Pound

General overview

The pound got under pressure on Tuesday despite the positive Industrial Trends Survey. The sterling weakened amid the dollar growing strength.

Current situation

GBP/USD's selling pressure is back. The pound successfully tested 1.2500 but failed to retake the level. The price reversed its direction and sharply dropped ahead of the Europe opening. Sellers drove prices lower and tested 1.2400 in the New York session. The pound touched the 200-EMA in the 4 hours chart. The pair failed to hold above the moving and faced its rejection afterwards. The GBP/USD declined and snapped the 50 and 100 EMAs ahead of the NY opening. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD decreased which confirmed the current strength of sellers. RIS moved towards the oversold levels.

Trading recommendations

We prefer to sell while we see the pound below 1.2500. After breaking 1.2400 bears will be focused at 1.2300.



Yen

General overview

The yen strengthened after the earthquake news. However, the Japanese currency weakened afterwards following Kuroda’s remarks that the Japanese economy steadily keeps recovering.

Current situation

The yen stayed within a narrow flat trading around multi-month highs on Tuesday. The price remained between 111.00 and 110.50 during the day. The USD/JPY traded well above the moving averages in the 4 hours chart. All moving averages maintained their bullish slope. The resistance is highlighted at 112.00, the support comes in at 111.00.

MACD decreased which points to buyers’ positions weakening. RSI consolidated within overbought area.

Trading recommendations

If the USD/JPY remains bullish our next short-term target is 112.00. After breaking the level we may see the pair extending its rise towards 113.00.



AUD/USD

General overview

The Australian dollar strengthened on the back of Assistant Governor Kent upbeat speech on Tuesday. Moreover, high commodity prices helped the AUD/USD to recover.

Current situation

The AUD extended its recovery and broke the psychological 0.7400 barrier. Buyers had no strength to push prices higher and stayed around their recent high during the day. The price broke the 50-EMA and tested the 100-EMA in the 1 hour chart. The 50-EMA is neutral, while the 100 and 200 EMAs maintained their bearish slope. The resistance is at 0.7400, the support comes in at 0.7350.

MACD grew which points to sellers’ positions weakening. RSI consolidated within oversold area.

Trading recommendations

Despite the recent growth the overall structure is firmly bearish. If the level 0.7400 holds the pair may soften to the multi-month lows at 0.7300. Should the pair consolidate above the level and the AUD may extend its gains to 0.7450.



XAU/USD

Current situation

Gold prices recovery showed some signs of fatigue. Its inability to reclaim the 1220 barrier returned sellers to the market. The price bounced from the level and edged lower towards 1210 dollars per ounce. The upward trajectory was stopped by the 100-EMA in the 1 hour chart. Having faced rejection around the 100-EMA prices moved lower and returned below the 50-EMA in the same chart. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

MACD decreased which confirms sellers’ strength. RSI moved to the oversold area.

Trading recommendations

The overall outlook remains bearish for a further decline below 1210. After breaking 1210 the level 1200 dollars per ounce will come back to the radar.



Brent

General overview

Oil prices edged lower ahead of API inventory data in the NA session on Tuesday. Nevertheless, oil stays well supported by renewed hopes on final agreement between OPEC members over the output cut in December.

Current situation

Oil prices stayed around fresh monthly highs on Tuesday. Buyers failed to extend the gap and after breaking 50.50 dollars per barrel turned downwards. The price sharply dropped below the level and hit 49.50 ahead of the NY session. The moving averages are turning upwards in the 4 hours chart. The resistance lies at 50.50, the support comes in at 49.50 dollars per barrel.

MACD decreased which points to buyers’ positions weakening. RSI consolidated within overbought levels.

Trading recommendations

A close above 50.50 dollars per barrel may generate fresh bullish signals for further advance towards 51.50. We do not rule out some profit-taking after the recent rally. If buyers will have difficulties to go higher the price may reversed its direction and drop to the 48.50 support area.



DAX

General overview

European stocks traded in the green amid growing oil prices.

Current situation

The index gapped higher at the open on Tuesday. After the jump the benchmark extended its gains. DAX30 moved to 10770 where buyers lost their legs. The price had to roll back and declined to 10700. The index traded above the moving averages in the 4 hours chart. The 100 and 200 EMAs are neutral while the 50-EMA headed north. The resistance exists at 10800, the support stands at 10700.

MACD grew which indicates the buyers’ positions strength. RSI consolidated within neutral territory.

Trading recommendations

A move above the 10800 level will favor an advance up to the 10900 region. A failed test of the 10800 barrier may cause profit-taking and a fall towards 10600.



NASDAQ

General overview

Wall Street edged higher hitting record highs on the back of Trump's promises to cut tax, to increase spending on infrastructure and healthcare industries.

Current situation

NASDAQ opened higher and was able to escalate through 4865 to 4883. After refreshing the weekly high the price rolled back and returned to below 4865. The benchmark remained above the moving averages in the 4 hours chart. The 100 and 200 EMAs are neutral while the 50-EMA headed north crossing the 100-EMA upwards. The resistance is at 4900, the support comes in at 4865.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator remains within overbought readings.

Trading recommendations

We do not rule out further extension towards 4900. A bounce from the overbought levels may cause it drop to 4835.



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

 

"Fort Financial Services"- fundamental and technical analysis.

24.11.2016

Euro

General overview

The euro weakened on the back of stronger dollar. The dollar was strong ahead of FOMC minutes. Besides, the possible rate hike by the Fed supports the US currency.

Current situation

The euro continued to lose its value on Wednesday. The price slightly recovered and tested the level 1.0650 in the Asian session. The downward pressure increased ahead of the Europe opening when the price sharply dropped towards 1.0600. The pair broke the 50 and 100 EMAs in the 1 hour chart. The lines appeared to be a tough nut to crack and the pair faced rejection just after testing the moving averages. The 50-EMA is neutral while the 100 and 200 EMAs maintained their bearish slope in the mentioned timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

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

Trading recommendations

Bears will remain in the driver's seat until the level 1.0650 holds. The level 1.0550 we see as the next intraday support and probable bearish target. Conversely, a break above 1.0650 will trigger the next leg of upward move for the pair.



Pound

General overview

A stronger dollar weighed on the pound which is still weak amid the Brexit concerns.

Current situation

Sellers continued to dominate on Wednesday. Traders approached the support 1.2400 overnight and broke below it with Europe opening. After breaking the level sellers drove the price lower towards its immediate support at 1.2300. According to the 4 hours chart the price bounced off the 100-EMA and move towards the 200-EMA. The 50 and 100 EMAs are turning downwards while the 200-EMA is neutral in the 4 hours chart. The resistance lies at 1.2400, the support comes in at 1.2300.

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

Trading recommendations

If the GBP/USD pair consolidates below 1.2400 we expect its further extension towards 1.2300.



Yen

General overview

Japanese stocks were closed amid Labor Thanksgiving Day. The market was under external factors influence.

Current situation

The ascending channel pattern is still intact. After reaching the level 111.00 buyers took a pause and continued moving higher in the mid-European session. The pair broke the level 111.00 and jumped to 112.00. Having tested the level the price trended towards 113.00. The price spent the day above the 50-EMA in the 1 hour chart. The 50-EMA is neutral while the 100 and 200 EMAs are heading higher. The resistance is highlighted at 113.00, the support comes in at 112.00.

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

Trading recommendations

Inability to extend further gains may increase risks for a much-needed correction. In this scenario sellers may lead prices towards 109.00 through 110.00. If the upward pressure persists we will see the level 113.00 test soon.



NZD/USD

General overview

Kiwi weakened following the dollar strengthening. The dollar edged higher in the light of the latest US data which had showed the US economy growing strength.

Current situation

We maintain a short-term bearish outlook for the pair. Sellers seem to be guarding 0.7100 level rejecting prices downwards on every attempt to an upside. The NZD retreated from the daily high and declined to the nearest level 0.7050 post-Europe open on Wednesday. The level slowed down the downward momentum for a while and was broken afterwards. Sellers pushed the price to 0.7000. The 50-EMA rejected the price in the 4 hours chart. The moving averages direction is downwards. The resistance is at 0.7050, the support comes in at 0.7000.

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 was in a neutral area.

Trading recommendations

The NZD/USD pair will maintain negative tone until its stays below 0.7100. After breaking 0.7050 the level 0.7000 will come back to the radar. Should the kiwi bounce of 0.7050 the price may extend its gains towards 0.7100.



XAU/USD

General overview

The dollar strengthened amid strong Durable Goods Orders and Housing Price Index. The latested US data weighed on the yellow metal prices.

Current situation

In terms of technicals the bearish trend remained intact. Markets were calm ahead of the bunch of U.S. data. Gold prices were not able to record any meaningful recovery on Wednesday and continued consolidating within a narrow band near last week lows. A new sellers’ attack pushed prices lower. The XAU/USD broke 1200 and tested 1190 ahead of NA opening. The price spent the day below the moving averages in the 4 hours chart. The moving averages kept moving lower. The resistance exists at 1200, the support stands at 1190 dollars per ounce.

The chart slightly changed from yesterday. The indicators MACD and RSI still recommend short positions.

Trading recommendations

A breakout of 1210 would aim us for 1200. A daily close above 1220 may generate fresh bullish signal for further advance towards 1230 dollars per ounce.



Brent

General overview

Oil prices stuck around three weeks highs being unable to extend their gains amid growing concerns that OPEC members will not agree to cut oil production.

Current situation

Oil prices remained in an ascending channel, trading near its lower boundary. After refreshing weekly highs Brent futures retreated as buyers took a breath before going higher. The benchmark extended its recovery climbing upwards with a timid pace. The price approached 49.50 ahead of the NY session. The price stayed around the 200-EMA during the day. The 200-EMA moved downwards, the 50-EMA crossed the 100-EMA upwards. The resistance lies at 49.50, the support comes in at 48.50 dollars per barrel.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator remains within overbought readings.

Trading recommendations

The longer term outlook will be bullish as long as the price holds above 48.50. A move below the level would indicate that immediate upward pressure eased. Sellers will drag prices towards 47.50. Meanwhile, a move higher may extend current gains towards 50.00.



DAX

General overview

European stocks positive sentiment switched to negative one amid growing concerns over banking crisis in Italy.

Current situation

DAX encountered significant losses on Wednesday. Prices retreated from the weekly highs and moved lower. The benchmark broke 10700 and approached 10600 in the mid-European session. DAX broke the 50-EMA and approached the 100-EMA in the 4 hours chart. The 100-EMA presented a solid support and may slow down downward trajectory. The 50-EMA pointed higher, while 100 and 200 EMA were neutral. The resistance exists at 10700, the support stands at 10600.

MACD decreased which indicates the buyers’ positions weakening. RSI headed downwards which confirms the strength of sellers.

Trading recommendations

If pressure persists the 10600 level will remain the key support area to watch for. A break below will open the way towards 10500.



S&P500

General overview

Wall Street opened lower as health sectors lad shares lower.

Current situation

The index remained onto historical highs on Wednesday. The upward impetus faded above 2200, the price moved lower and stopped a few pips below the level. The index traded well above the moving averages in the 4 hours chart. All moving averages maintained bullish slope. The resistance is at 2220, the support comes in at 2200.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed near overbought levels, favoring a move lower.

Trading recommendations

As the index is overbought we expect a short term correction. The price may return to the 2180 region.




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

 

"Fort Financial Services"- fundamental and technical analysis.

25.11.2016

Euro

General overview

The euro edged higher on the back of the Business Climate report in Germany. Besides the dollar retracement amid Thanksgiving day helped the euro to strengthen.

Current situation

The EUR/USD had a positive day on Thursday. The price remained in a descending channel. The pair rebounded from its recent lows and regained some lost footing versus its American counterpart. Traders pushed the euro higher and broke 1.0550 ahead of the European opening. The current rebound we consider corrective. The price remained below the moving averages in the 1 hour chart. The 50, 100 and 200 EMAs extended their decline in the same chart. The resistance is at 1.0600, the support comes in at 1.0550.

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

Trading recommendations

The EUR/USD pair might extend its recovery if it breaks 1.0600. After breaking the level the price will move towards 1.0650. A failure here will return sellers who will push prices towards 1.0500.



Pound

General overview

The pound strengthened amid a dollar correction and a better-than-expected UK's Mortgage Approvals for October.

Current situation

The pound bounced off 1.2400 and reversed some of its early losses during the European hours on Thursday. The pair broke upwards the 50 and 100 EMAs which offered the pound an immediate support. The moving averages are mixed in the 4 hours chart. The 200-EMA is neutral while the 100-EMA is heading upwards and the 50-EMA is directed downwards. The resistance lies at 1.2500, the support comes in at 1.2400.

The technical indicators turned flat. MACD indicator was at the centerline. RSI stayed within neutral readings.

Trading recommendations

A dollar correction together with some UK positive data could support sterling for a short time. A further recovery towards 1.2500 is expected.



Yen

General overview

The yen weakened against the dollar amid upbeat US data and the latest Fed's minutes which supported optimism regarding the possible Fed rate hike in December.

Current situation

The USD/JPY extended its gains on Thursday. A new buying interest pushed prices higher. The pair broke the 113.00 level and refreshed multi month high at 113.47. The price remained above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope. The resistance is highlighted at 113.00, the support comes in at 112.00.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator was holding near oversold levels.

Trading recommendations

A break above 113.00 will open doors for the pair to refresh yearly highs. After breaking the level traders may move prices towards 114.00. Pairs’ inability to extend its upward trajectory may lead to a roll back and decline to 111.00.



USD/CAD

General overview

The Canadian dollar weakened amid the oil prices decrease and due to a stronger dollar.

Current situation

The USD/CAD was unable to break 1.3540 and retreated from the level right after its test. The USD fell on profit-taking. Sellers pushed prices towards 1.3470. The pair touched the 50-EMA in the 4 hours chart. The 50-EMA is neutral while the 100 and 200 EMAs continued with their growth. The resistance is at 1.3540, the support comes in at 1.3470.

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 bounced from the overbought area.

Trading recommendations

If the price breaks 1.3470 it may come under new wave of selling pressure. Should the USD/CAD bounce from the current support the price will return to its recent high at 1.3540.



XAU/USD

General overview

Gold prices are under pressure amid a stronger dollar. The dollar remains bullish amid strong expectations for a U.S. rate hike in 2016.

Current situation

Gold prices recovered and moved from February lows on Thursday. The 1180 level appeared to be a strong barrier which rejected the price. The XAU/USD recovered to 1190 dollars per ounce post-European open and struggled with the level the rest of the day. The moving averages slightly changed since yesterday. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD remained at the same level which confirms the strength of sellers. RSI indicator is near undervalued territory.

Trading recommendations

Gold prices recovery will remain limited as long as the price holds below the 1200 region. A move higher may ease the current downward pressure and will open the way towards 1210 dollars per ounce.



Brent

General overview

Oil prices hold still amid uncertainty about OPEC final decision about its production cut.

Current situation

Oil prices remained within narrow range on Thursday. The price stayed between 49.00 and 49.50 during the day. Brent was around the 200-EMA in the 4 hours chart which presented a solid resistance for the price. The 200-EMA moved downwards while the 100 and 50 EMAs turned upwards in the mentioned timeframe. The 50-EMA crossed the 100-EMA upwards. The resistance lies at 49.50, the support comes in at 48.50 dollars per barrel.

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

Trading recommendations

A sharp breakout above 49.50 could spark a further growth towards 50.50 in the coming days. On the other hand a move below 48.50 will neutralize our near term positive outlook.



DAX

General overview

European stocks sentiment remained positive amid Donald Trump’s plans to rise fiscal spending and cut taxes. Besides, healthcare sector led shares higher.

Current situation

DAX bounced off 10600 level on Thursday. Traders moved the benchmark to 10700 but failed to reclaim the level. The price just pierced the level and rolled back. DAX30 spent the day around the 50-EMA which limited its further recovery. The 50-EMA direction is upwards while the 100 and 200 EMAs are neutral in the 4 hours chart. The resistance exists at 10700, the support stands at 10600.

MACD traded to the downside. RSI was neutral on yesterday's trades.

Trading recommendations

A break above 10700 will trigger the next leg of move for the index towards 10800. If buyers fail to regain the level the price may bounce off and move to 10600.



NASDAQ

Current situation

The index slightly changed on yesterday’s trades. The price stayed in a tight range around 4850. The price stayed above the moving averages. The 200-EMA is neutral in the 4 hours chart. The 50-EMA crossed the 100 and 200 EMAs upwards. The 50 and 100 are heading higher. The resistance is at 4865, the support comes in at 4830.

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

Trading recommendations

The near-term upward trend remained intact. A break above 4865 will rise prices to 4884 and 4900. A move below 4830 will reinforce sellers’ positions. If they start to challenge this 4830 area it is likely to break.




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

 

"Fort Financial Services"- fundamental and technical analysis.

28.11.2016

Euro

General overview

The euro strengthened against the dollar despite the empty calendar in Eurozone.

Current situation

The pair had a positive day on Friday. The euro bounced from the multi-months low and recovered. The pair pushed away from 1.0550 towards 1.0600 post-European open. After a brief pause around the level the price extended its recovery toward 1.0623 but failed to move higher. The price broke the 50 and 100 EMAs and headed towards the 200-EMA in the 1 hour chart. The 200-EMA acted as a resistance and rejected the price. The moving averages maintained their bearish slope. The resistance is at 1.0600, the support comes in at 1.0550.

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

Trading recommendations

If the pair stays above the 1.0600 level the price may recover further and test 1.0650. A move higher may neutralize the current selling pressure. The EUR/USD may extend its gains to 1.0700. Otherwise, sellers’ return will send this market to the new lows at 1.0500.



Pound

General overview

Pound was little changed on Friday despite positive UK GDP data release.

Current situation

The GBP/USD remained confined within a trading range between 1.2400 and 1.2500 on Friday. Nevertheless the pressure persisted and the price stayed at the lower limit of the band on Friday. The price stayed around the 50 and 100 EMAs in the 4 hours chart. The 100 and 200 EMAs were neutral while the 50-EMA went upwards. The resistance lies at 1.2500, the support comes in at 1.2400.

The indicators MACD and RSI slightly changed from Friday and remained neutral.

Trading recommendations

The overall picture is bearish. We expect from price a move lower. Sellers’ first target is the level 1.2400. After breaking the level sellers may lead the pair to 1.2300.



Yen

General overview

The dollar jumped to the eight month high against the yen due to US bond yields growth during the Asian session after Thanksgiving day off.

Current situation

The ascending channel remained intact. The price bounced from its upper limit around 114.00 and edged lower. The downward momentum lost its leg at the lower limit of the band around 113.00. The price just touched the level at the beginning of the European session and stayed around it till the end of the day. According to the 1 hour chart the price met barrier at the 50-EMA which presented a strong support for it. After touching the moving the price remained around it. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

The USD/JPY will leave the upward channel if it moves below 112.00. Sellers need to drive prices below 111.00 to neutralize the current upward pressure. Otherwise a move above 113.00 will return a positive sentiment sending prices for the 114.00 level test.



AUD/USD

General overview

Positive sentiment around base metals, especially ore hellped the Aussie to strenghen on Friday.

Current situation

The pair extended its near-term upward trajectory and formed a higher high on Friday. The Australian dollar pierced the level 0.7450 but failed to reclaim it. The price edged lower right after the test and stayed around 0.7450 till the NY session open. The pair retreated from the daily high and returned to the 0.7400 region during the NA session. The price struggled with the bearish 50-EMA in the 4 hours chart. Even though the price broke the moving the 50-EMA slowed down its growth. The moving averages extended their declines in the 4 hours chart. The resistance is at 0.7450, the support comes in at 0.7400.

MACD entered the positive area. RSI grew and approached the overbought levels.

Trading recommendations

A break above 0.7450 might force the pair to resume its upward trajectory towards 0.7500. On the other hand if the AUD/USD stays below 0.7450 the price may move down and negate its recent gains. In this scenario sellers will lead prices to 0.7350 and 0.7300.



XAU/USD

General overview

Gold prices showed a limited growth amid dollar broad base retracement.

Current situation

Gold prices remained in the red despite Friday’s recovery. Gold grew above the U.S. dollar on Friday. The price climbed from 1170 to 1190 where the upward impetus faded. The price moved below the level 1190 and stayed there during the European hours. The yellow metal faced a downward pressure in the NY session. The 1 hour chart showed that the price struggled with a bearish 50-EMA and lost the game. The 50-EMA rejected the price which bounced downwards. The moving averages kept heading lower. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD slightly grew which indicates the sellers’ positions weakening. RSI indicator was near undervalued territory.


Trading recommendations

We expect a new move lower towards 1170.



Brent

General overview

Oil prices moved lower amid dollar positive tone. Moreover, investors remain cautious ahead of OPEC agreement announcement regarding output cut.

Current situation

Oil prices turned bearish on Friday. The price retreated from the weekly high and moved below 48.50 approaching the level 47.50 post NY open. The benchmark pushed away from the 50-EMA in the 4 hours chart. The price approached the bullish 50-EMA and tested it in the mid-American session. The 100-EMA is neutral in the same chart. The resistance lies at 48.50, the support comes in at 47.50 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. The RSI oscillator moved downwards.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 47.50. If bears retain control the price will move lower towards 46.50. In order to recover some strength, Brent needs to rise back and hold above 48.50.



DAX

General overview

European stocks moved lower on Friday amid energy stocks decline following oil prices weakening.

Current situation

DAX30 traded in a tight range between 10700 and 10670 on Friday. The index headed lower and touched the lower band of the range in the NY session. The benchmark stayed around the 50-EMA in the 4 hours chart. All moving averages were neutral in the mentioned timeframe. The resistance exists at 10700, the support stands at 10600.

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

Trading recommendations

The index seems to have some difficulties to move above 10700. The price bounced from the level any time it tries to break it. If buyers succeed DAX30 may strengthen further to 10800. To ease the current buying momentum the price needs to get below 10600.



S&P500

General overview

American stocks hit record highs on Friday supported by consumer staples and technology stocks. The market was thin and closed early amid Black Friday.

Current situation

S&P500 was in buy mode on Friday. The index traded with slight gains and was able to grow above previous day’s top. The price bounced from the bullish 50-EMA in the 1 hour chart. The 50, 100 and 200 EMAs extended their growth. The resistance is at 2220, the support comes in at 2200.

MACD traded to the downside while RSI consolidated within positive territory.

Trading recommendations

We remain bullish near-term and believe that this is essentially a “buy only” market at the moment. We expect further extension to 2220 now.




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