ValdisTF

"Fort Financial Services"- fundamental and technical analysis. 13.12.2016 Euro General overview The euro strengthened amid a dollar weakness and risk-off sentiment in the market. Traders took wait-and-see mode ahead of the Fed meeting on Wednesday. Current situation Technically, the pair remained towards the downside on Monday. The price bounced from 1.0525 and rallied towards 1.0600. Buyers broke the level and extended their recovery towards 1.0650. The 4 hours chart showed that the price tested the 100-EMA. Meanwhile, the moving averages maintained their bearish slope. The resistance is at 1.0650, the support comes in at 1.0600. MACD remained at the same level which confirms the strength of sellers. The RSI indicator entered the neutral territory. Trading recommendations If a bearish tone prevails we would be selling the pair when the price drops below 1.0600. Sellers may lead prices towards 1.0500. Meanwhile, the euro may continue with its recovery if its stays above 1.0600. Pound General overview The dollar weakened across the board. Still, the greenback stays at recent highs amid the 100% confidence that the FED will hike the rates. Current situation The pound remained weak against the US dollar, but found sufficient support around 1.2600 handle which limited its downside volatility. We believe some buying interest exists around 1.2550 region. Buyers made an attempt to recover and broke the level 1.26 but failed to extend their gains and hovered above the broken level till the NY opening. The price tested the 50-EMA in the 4 hours chart. The price remained between the 50 and the 100 EMAs in the same chart. All moving averages maintained their bullish slope. The resistance lies at 1.2700, the support comes in at 1.2600. MACD remained at the same level which confirms the strength of sellers. RSI headed upwards. Trading recommendations If the price fixates below the support 1.2600, it may continue the downward trend in the short term. The sellers’ potential targets are 1.2500 and 1.2400. Yen General overview The risk-on sentiment amid OPEC oil output deal and the firm expectations of the Fed rate-hike action weighed on the safe-heaven yen on Monday. Even the upbeat Machinery Order in Japan did little to support the national currency. Current situation The USD/JPY maintained its bid tone on Monday. The price bounced from 116.00 and returned to the 115.00 handle region. According to the 4 hours chart the price hovered above the moving averages which kept heading higher. The resistance is highlighted at 116.00, the support comes in at 115.00. The MACD histogram grew which indicates buyers’ strength. The RSI indicator remains within overvalued readings. Trading recommendations All eyes are right now at the resistance level 116.00. A cut through here will turn attention to the 117.00 level. NZD/USD General overview The NZD strengthened after Bill English was sworn in as New-Zealand's new Prime Minister. The new assignment eased the political fears in the country. Moreover oil output OPEC deal boosted the investors' sentiment and helped the New Zealand dollar to recover. Current situation After posting a session low at 0.7115 the New Zealand dollar grew reversing its early losses. Traders broke the level 0.7150 in early trades and headed towards 0.72 which tested in the NA session. The 4 hours chart showed that the price bounced off the 50 EMA and broke 200 EMA upwards. The 200 and 50 EMAs were neutral while the 100 EMA pointed higher. The resistance is at 0.7200, the support comes in at 0.7150. MACD traded to the upside. RSI moved towards overbought readings. Trading recommendations If the price overcomes 0.72 and fixates above 0.7220 we will neutralize our medium term negative outlook. The NZD may extend its gains to 0.7250. A failure here will put on hold bulls’ plans. In this scenario the price may return to 0.71. XAU/USD General overview Gold stayed around 10-month low as upcoming Fed decision regarding the rate-hike kept on weighing. Current situation Gold prices continued to move lower in the yearly trades on Monday. Having posted the session low at 1150 dollars per ounce the price reversed the minor part of its losses. The XAU/USD broke 1160 at the start of the NY session and advanced higher. The price continued developing well below the moving averages in the 4 hours chart. The moving averages maintained their bearish slope. The resistance exists at 1170, the support stands at 1160 dollars per ounce. MACD entered the negative area. If MACD remains within the negative readings, sellers’ positions will strengthen. The RSI indicator remained within oversold readings. Trading recommendations The technical picture presents a bearish tone. We suppose the price will go to 1150 first. Having overcome the first target the yellow metal might advance towards 1140 dollars per ounce. Brent General overview Oil prices grew after OPEC and non-OPEC members reached an agreement to cut oil production on Saturday. Current situation Oil prices kept the ongoing rally intact on Monday and posted fresh multi-month highs at 57.24 dollars per barrel. The price faced some downward rejection around 57.50 and rolled back after touching the level. Brent prices moved lower and spent the European hours and the start of the NY session around 56.50. The benchmark hovered above the moving averages in the 4 hours chart. The 200 EMA was neutral while the 50 and the 100 EMAs maintained their bullish slopes. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel. The MACD histogram grew which indicates buyers’ strength. The RSI indicator held within overvalued readings. Trading recommendations An uptrend will start as soon, as the price fixates above the support level 56.50 dollars per barrel. As the most probable scenario, we consider further moving upwards towards the levels 57.50 and 58.50. However, the benchmark is overbought and we expect some profit taking action which may reduce pace of the rally. Brent oil prices may return to the 54.50 region. DAX General overview European shares traded mixed on Monday amid oil prices rally and the news that Monte dei Paschi bank got the EU approval for restructuring. Current situation DAX kept its upbeat tone unchanged flirting with 11200 resistance. An attempt to extend gains in the early trades faded above 11200 when the prices faced a selling pressure and dropped below the level. The benchmark made another attempt to regain the level during the American session. The price continued developing well above the moving averages in the 4 hours chart. The moving averages pointed higher in the mentioned timeframe. The resistance exists at 11200, the support stands at 11100. MACD remained at the same level which confirms the strength of buyers. The RSI indicator remained within overvalued readings. Trading recommendations The technical picture presents a bullish tone, for rise towards 11300 resistance area. NASDAQ General overview DAX recorded fresh highs on Monday while NASDAQ traded lower. Wall Street held still ahead of the Fed meeting this Wednesday. Current situation NASDAQ Composited opened lower and surged to 4865 post-Asia open. Sellers met a barrier in the 4865 region which made prices slightly roll back after touching the handle. According to the 4 hours chart the price hovered above the moving averages. The 50 and the 200 EMAs were neutral while the 100 EMA pointed higher. The resistance is at 4900, the support comes in at 4865. MACD remained at the same level which confirms the strength of buyers. The RSI indicator remained within overvalued readings. Trading recommendations The technical picture presents a bullish tone. A close above 4865 will extend gains towards 4900. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 12.12.2016 Euro General overview The dollar strengthened after the ECB meeting when the regulator decided to leave its monetary policy unchanged. Current situation The euro's weakness is back. The single European currency dropped from fresh monthly highs and erased all its previous gains. The EUR/USD pair continued moving south on Friday. Sellers broke the level 1.0600 and drove prices lower advancing towards 1.0550 in the European session. The pair broke the level during the NY hours. According to the 4 hours chart the price bounced off the 200 EMA downwards. The pair broke the 50 and 100 EMAs and continued developing well below the moving averages. The 200 and the 100 EMAs maintained their bearish slope while the 50 EMA turned neutral. The resistance is at 1.0600, the support comes in at 1.0550. MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator remained within oversold readings. Trading recommendations If the price fixates below the support 1.0600, it may continue its downward trend in the short term. The sellers’ potential targets are 1.0550 and 1.0500. Pound General overview The pound strengthened amid positive Goods Trade Balance and Total Trade Balance on Friday. Current situation The pound recovered some ground in early trades on Friday. Buyers moved prices upwards and tested the level 1.2600 in the mid-Europe session. After testing the level the upward impetus faded and the sterling rolled back below the level. The 4 hours chart showed that the GBP/USD bounced off the 50 EMA. All moving averages maintained their bullish slope. The resistance lies at 1.2600, the support comes in at 1.2500. MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was neutral. Trading recommendations A break below 1.2600 will suggest a further weakness of the GBPUSD pair. After the break sellers may lead prices to 1.2500. Yen General overview The yen weakened versus the US dollar amid the US treasury yields strengthening which increased the dollar demand. Current situation The pair had a positive day on Friday. The dollar extended its near-term upward trajectory. A fresh buying interest helped bulls to overcome 114.00. After breaking the level the pair extended its gains and headed towards 115.00. The USD/JPY broke the level in the New York session. The price bounced from the 50 EMA upwards in the 4 hours chart. The moving averages kept heading higher in the mentioned timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00. The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed near overbought levels, favoring a new move higher. Trading recommendations A break above 115.00 risks a growth towards the resistance at 116.00. Should this mark be reached successfully, a further extension towards 117.00 could be observed further. AUD/USD General overview The Australian dollar traded mixed amid Australian and Chinese data. Home Loans figures decreased in Australian and Chinese PMI came in better-than-expected. Current situation AUD/USD traded higher during the European hours on Friday. However, a short-lived rally lost its strength around 0.7500. The level appeared to be a strong barrier and rejected prices downwards. The Aussie bounced off the level 0.7500 and moved towards 0.7450. The price bounced off the 50 EMA and headed to the 200 EMA where it faced a downward rejection. The 200 and the 100 EMAs pointed lower while the 50 EMA was neutral. The resistance is at 0.7500, the support comes in at 0.7450. MACD traded to the downside. The RSI indicator remained within neutral readings. Trading recommendations If the AUD/USD pair failed to extend its gains, bulls will retreat as well. A bounce from 0.7500 may lead to a fresh weakness towards 0.7450. A move lower will extend sellers’ gains towards 0.7350. XAU/USD General overview Gold weakened on the back of a dollar strengthening after the ECB's desicion on Thursday. The US treasury yields growth weighed on the precious metal as well. Current situation Gold prices remained in a descending channel. Gold traded lower and touched the lower limit of the downward channel on Friday. The level 1160 dollars per ounce appeared to be a tough nut to break. The level rejected prices three times before. The price bounced from the 50-EMA and continued developing well below the moving averages in the 4 hours chart. All moving averages pointed lower. The resistance exists at 1170, the support stands at 1160 dollars per ounce. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI moved downwards. Trading recommendations If the price fixates below the support 1170, it may continue the downward trend in the short term. The potential sellers’ targets are 1150 and 1140 dollars per ounce. Brent General overview Oil prices kept growing on Friday ahead of the weekend's conference of OPEC and non-OPEC oil producing countries. Current situation Brent extended its bounce off a correction low at 52.79 dollars per barrel on Friday. After breaking the level 53.50 buyers extended their gains and tested 54.50. Brent oil prices erased almost all its losses which it had suffered on Monday. The price was above the moving averages in the 4 hours chart. The 200 EMA remained neutral while the 50 and the 100 EMAs pointed higher. The resistance lies at 54.50, the support comes in at 53.50 dollars per barrel. The MACD histogram grew which confirmed buyers’ strength. RSI oscillator stayed near overbought levels, favoring a new move higher. Trading recommendations A break above 54.50 will open the way towards 55.50. A failure here will send markets to 52.50 dollars per barrel. DAX General overview European stocks edged higher getting support from the health care sector on Friday. The ECB's latest policy decision supported European shares as well. Current situation The index gapped lower at the daily open. However the downward impetus did not have legs, the price changed its direction and continued to advance north. Traders broke 11200 and refreshed multi-month highs at 11237. According to the 4 hours chart the price continued hovered above the moving averages. The 50, 100 and 200 EMAs turned higher in the mentioned timeframe. The resistance exists at 11300, the support stands at 11200. The MACD histogram grew which indicates buyers’ strength. The RSI indicator remains within overvalued readings. Trading recommendations The overall outlook remains bullish, for rise towards 11300 resistance area. S&P500 General overview Wall Street traded higher amid Healthcare and Technology shares growth. Current situation The index maintained its strong bid tone and set new all-time highs on Friday. The price pushed away from 2240 and climbed to 2260 in the NA session. The price continued developing well above the moving averages in the 4 hours chart. The moving averages kept heading higher. The resistance is at 2260, the support comes in at 2240. MACD traded to the upside. The RSI indicator remained within overvalued readings. Trading recommendations If buyers keep control the S&P500 will break 2260. A daily close above the level will risk 2280. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 09.12.2016 Euro General overview The ECB left its key interest rates unchanged and extended QE program till April 2017. Current situation The euro traded mixed on Thursday. EUR/USD extended its vertical rise and broke 1.0750 in yearly trades. The pair kept on growing after that and tested the level 1.0800 in the European session. The level did not stop buyers which pushed prices higher towards 1.0850. However, the pair unexpectedly reversed it direction ahead of the NY opening. The common European currency bounced from 1.0850 and dropped towards 1.0650 during the US hours. The price bounced off the 200 EMA in the 4 hours chart. The 50 EMA crossed the 100-EMA upwards. The 200 and the 100 EMAs maintained their bearish slope while the 50-EMA pointed higher. The resistance is at 1.0650, the support comes in at 1.0600. The MACD histogram decreased which indicates the sellers’ strength. RSI bounced off the overbought area and headed south. Trading recommendations A move below 1.0700 will neutralize our medium term positive outlook. The EUR/USD pair may decline to 1.0550. Pound General overview Positive Housing Price Balance for November supported the pound. Moreover, the UK currency took advantage of a weaker dollar and continued with a recovery. Current situation The bullish market structure remained in place yesterday. The pound returned to a growth and reversed some of its losses which it had suffered early in the week. GBP/USD pushed away from 1.2600 in Asian session and tested the level 1.2700 at the Europe opening continuing its upward trajectory afterwards. The level 1.2700 appeared to be a firm barrier to break. Prices bounced off the level and moved south erasing all daily gains. From a technical point of view the pound bounced off the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs maintained their bullish slope. The resistance lies at 1.2600, the support comes in at 1.2500. 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 downside. Trading recommendations After breaking 1.2700 the level 1.2800 will come back to the radar. However, inability to climb higher will ease the upward pressure and may send this market to test 1.26 and 1.2550. Yen General overview The yen weakened versus the US dollar amid a negative GDP in the country. Buying pressure around the dollar after the ECB left unchanged its monetary policy sent the pair upwards. Current situation The USD/JPY traded mixed on Thursday. Sellers pushed the price lower and tested the level 113.00 in the Asian session. After touching 113.00 prices rolled back and spent the European session hovering above the level. A fresh buying interest drove prices upwards in the North American session. The dollar broke 114.00б but failed to extend its gains to 115.00. The 4 hours chart showed that the price bounced off the 50-EMA. The moving averages maintained their bullish slope. The resistance is highlighted at 115.00, the support comes in at 114.00. The MACD histogram grew which indicates buyers’ strength. RSI moved upwards. Trading recommendations All eyes are right now at the resistance level 114.00. A cut through here will turn attention to the 115.00 mark. USD/CAD General overview The Canadian dollar ignored positive New Housing Price Index and Building Permits released and edged lower on the back of a growing US dollar. Current situation The USD/CAD continued to advance south on Thursday. After breaking the level 1.3260 the US dollar extended its losses towards 1.3190. The price stopped a few pips above the level and started a consolidation phase. The price continued developing well below the moving averages in the 4 hours chart. The 50 and 100 EMAs crossed the 200 EMA downwards. The 200 EMA was neutral while the 50 and 100 EMAs pointed lower. The resistance is at 1.3260, the support comes in at 1.3190. MACD traded to the downside. The RSI indicator remained within oversold readings. Trading recommendations The market may become bullish if the USD/CAD pair consolidates above 1.3250. XAU/USD General overview Gold moved lower after the ECB meeting on Thursday. The European regulator decision to leave its policy unchanged boosted the US dollar buying interest, thus weakening gold prices. Current situation Gold traded in a familiar range between 1175 and 1180 on Thursday. The price gapped higher at the open and moved higher from the lower band of the range. Buying interest faded around the level 1180 dollars per ounce which rejected prices downwards. The precious metal rolled back and stayed in the middle of the range before NY opening. According to the 4 hours chart the price tested and immediately bounced off the 50-EMA. The 50, 100 and 200 EMAs kept heading lower. The resistance exists at 1180, the support stands at 1170 dollars per ounce. MACD traded to the downside. RSI remained within neutral territory. Trading recommendations We will stay neutral while the XAU/USD pair remains in the current range. Brent General overview Oil prices ignored bigger-than expected drop in the US stockpiles. Prices remained stable, however, traders doubt that the recent OPEC deal will be enough to balance the market. Current situation After an Asian consolidation oil prices moved higher on Thursday. The price slightly grew and reversed the minor part of its losses. The benchmark approached 53.50 post-Europe open. The price stayed below the 50 and 100 EMAs in the 1 hour chart. The 200 EMA headed higher, the 100-EMA was neutral while the 50 maintained its bearish slope in the same chart. The resistance lies at 53.50, the support comes in at 52.50 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 was neutral. Trading recommendations A close above 53.50 may generate fresh bullish signal for further advance, which could extend to multi-month peaks at 55.50. If the benchmark stays below the level it may extend its bearish pressure towards 51.50. DAX General overview European stocks hit three-month high on Thursday amid cautious ECB plans to extend its QE program. Current situation Market’s positive mood persisted on Thursday. DAX continued moving higher yesterday. The benchmark broke 11100 and extended its buying trajectory towards 11200 where the upward impetus faded. The 4 hours chart showed that the price continued developing well above the moving averages. All moving averages turned higher. The resistance exists at 11200, the support stands at 11100. The MACD histogram grew which indicates buyers’ strength. The RSI indicator remains within overvalued readings. Trading recommendations After a close above the resistance at 11100 the price may extend its growth to 11200. NASDAQ General overview As expected the ECB left its policy unchanged. The regulator's decision supported the US shares. Moreover the positive US labor market data fueled shares buying momentum. Current situation The index spent the day in a consolidation range hovering above 4835. Traders tried to reclaim the 4865 but failed. The price just touched the level and rolled back to the opening prices. According the 4 hours chart the price was above the moving averages. The 50 and the 200 EMAs were neutral, while the 100-EMA pointed higher and crossed the 50-EMA upwards. The resistance is at 4865, the support comes in at 4835. MACD remained at the same level which confirms the strength of buyers. The RSI indicator remained within overvalued readings. Trading recommendations We hold the view that NASDAQ will struggle to climb north above 4865. A daily close above the level risks growth towards 4900. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 08.12.2016 Euro General overview Markets stayed unmoved yesterday anticipating European Central Bank’s policy meeting. Current situation The euro opened green against the dollar on Wednesday. However, the single currency was not able to reverse all its losses it had suffered the other day. The trades were low volatile during the European session amid lack of market movers. The EUR/USD pair spent the first part of the day above 1.0700. According to the 4 hours chart the price stayed below the 200-EMA. The 200 and the 100-EMAs pointed lower, while the 50 EMA moved higher and touched the 100-EMA. The resistance is at 1.0750, the support comes in at 1.0700. MACD remained within the positive territory. The RSI indicator remained within overvalued readings. Trading recommendations The level 1.0750 seems the next probable bullish target. A cut through here will turn attention to the 1.0800 level. Pound General overview The pound weakened following the downbeat data: Manufacturing and Industrial production reports came in worse-than-expected. Current situation The pound extended its downward correction on Wednesday. After a brief consolidation around 1.2670 the sterling dropped lower and tested the 1.2600 handle ahead of the Europe open. Sellers met a barrier around the 1.26 region where they took a pause gaining strength to break lower. The price fell and tested the 50 EMA in the 4 hours chart. The 50, 100 and 200 moving averages kept heading higher. The resistance lies at 1.2700, the support comes in at 1.2600. MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards. Trading recommendations As the most probable scenario, we consider further moving downwards towards the level at 1.2500. Yen General overview The lack of market movers and a strong dollar kept weighing on the yen holding it around multi-month lows. Current situation The bullish market structure remained intact on Wednesday. After hitting 10-month high at 114.82 the pair had been showing non-volatile trades trying to stabilize above the 114.00 handle. The 4 hours chart showed that the price bounced off the 50 EMA upwards. All moving maintained their bullish slope. The resistance is highlighted at 115.00, the support comes in at 114.00. MACD histogram decreased, but remained in the positive territory. RSI indicator was neutral. Trading recommendations The pair now seems to be heading towards its immediate resistance near 115.00. Alternatively, we will place sell orders if the USDJPY does a breakout at the level of 114.00. NZD/USD General overview Reserve Bank governor Graeme Wheeler provided no significant surprise in his speech in a parliament. Meanwhile the NZD edged lower amid dairy prices growth. Current situation From a technical point of view the NZD/USD pair remained neutral. After a short-lived sell-off on Tuesday the NZD tried to correct on Wednesday. The pair found a solid support around 0.7100 and bounced off the level reversing the major part of its previous losses. The kiwi recovery was stopped around 0.7140 in the mid-Europe session. The price grew and tested the 200 EMA in the 4 hours chart. The 50 EMA crossed the 100 EMA upwards. The 100 and 200 EMAs were neutral, the 50-EMA pointed higher. The resistance is at 0.7150, the support comes in at 0.7100. The MACD histogram grew which indicates buyers’ strength. RSI went upwards which confirms the strength of buyers. Trading recommendations A break above 0.7150 risks a growth towards the resistance at 0.7200. Should this mark be reached successfully, a further extension towards 0.7250 could be observed further. XAU/USD General overview Gold moved higher on Wednesday. Still its gains were limited by a strong dollar which was supported by expectations for a rate hike by the Fed next week. Current situation Gold attempted to recover on Wednesday albeit remained around 10-month low. The price recovered from 1165 and was able to break 1170 post-Europe open. However, the upward impetus stalled at 1178 where the pair spent the rest of the European session. The price grew and tested the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMA maintained their bearish slope. The resistance exists at 1180, the support stands at 1170 dollars per ounce. MACD traded to the upside. RSI remained within neutral territory. Trading recommendations We expect the yellow metal further weakness. A break below 1170 will suggest further weakness towards 1160 dollars per ounce. Brent General overview Oil prices stabilized on Wednesday still markets are full of doubts that the OPEC deal will end global oversupply. Current situation From a technical point of view Brent stayed in the green despite its recent weakness. Oil prices recovered some losses in the European session. The benchmark found a firm support around the 53.50 handle and bounced off the level. The price moved higher and posting the daily high at 54.18. The price turned lower ahead of the NY session. According to the 4 hours chart the price hovered above the 50, 100 and 200 moving averages. The 200 EMA was neutral while the 50 and the 100 EMAs pointed higher. The resistance lies at 54.50, the support comes in at 53.50 dollars per barrel. The MACD histogram decreased which is a sell signal. The RSI headed downwards which confirmed the strength of sellers. Trading recommendations We would be selling Brent oil if the price drops below 53.50. After breaking the level traders may push prices to 52.50 and 51.50. DAX General overview European stocks traded higher on Wednesday amid mining and financial sectors growth. Current situation The index gapped higher at the open on Wednesday. The price extended its gains after the gap. Traders pushed prices higher and broke 10900. According to the 4 hours chart the price hovered above the moving averages. The 50, 100 and 200 EMAs were neutral in the same chart. The resistance exists at 11000, the support stands at 10900. The MACD histogram grew which indicates buyers’ strength. The RSI indicator remained within overvalued readings. Trading recommendations A downtrend will start as soon, as the index drops below the support level 10900. DAX may fall on profit-taking. The benchmark may ease to 10800. SP500 General overview Wall Street opened flat on Wednesday. Traders took wait-and-see position ahead of the ECB meeting. Current situation The index traded lower on Wednesday. The price rallied at the daily open. After refreshing weekly high at 2213 the price reversed its direction and dropped to 2207. The price continued moving lower during the NY session. The 4 hours chart showed that the price continued developing well above the moving averages. The 200 EMA was neutral, while the 100 EMA and 50 EMAs pointed higher. The resistance is at 2220, the support comes in at 2200. MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. The RSI indicator remained within overvalued readings. Trading recommendations We recommend going short with the first target – 2200. When the price consolidates below the first target, the benchmark may go to the level 2180. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

07.12.2016 Euro General overview Positive GDP in Eurozone together with Factory Orders in Germany supported the single currency on Tuesday. After Renzi's resignation a temporary government will probably work instead in Italy. A new Italian Government is likely to be elected in February. Current situation The EUR/USD switched its tone to negative on Tuesday. Buyers took a pause after an impressive rally on Monday and consolidated their gains. After posting a session high at 1.0785, the pair turned lower and erased some of its recent gains. EUR/USD broke 1.0750 and headed towards 1.0700 ahead of the NY session. According to the 4 hours chart the price tested 200 EMA and bounced downwards immediately after the test. The 200 and 100 EMAs pointed lower, while 50 EMA moved higher. The resistance is at 1.0750, the support comes in at 1.0700. The MACD histogram moved lower which indicates buyers’ weakening. The RSI indicator left overvalued readings. Trading recommendations A break below 1.0750 suggests further weakness of the pair. As the most probable scenario, we consider further moving downwards towards the levels 1.0700 and 1.0650. Pound General overview Despite the empty macroeconomic calendar the pound maintained its bid tone on Tuesday. Current situation The pound extended its bullish momentum and refreshed two-month highs on Tuesday. Having broken 1.2700 the pair was able to grow to 1.2770 where the price stayed during the day. The GBP/USD pair hovered above the moving averages in the 4 hours chart. Moving averages all pointed higher. The resistance lies at 1.2800, the support comes in at 1.2700. MACD remained at the same level which confirms the strength of buyers. We also noted MACD divergence in the 1 hour chart. RSI stayed within overvalued levels. Trading recommendations If the pound retains its bid tone we suppose the pair will grow to 1.2800. Conversely, a downtrend will start as soon, as the pair drops below the support level 1.2700. In this scenario sellers will drive prices to 1.2600. Yen General overview The pair was neutral on Tuesday amid a lack of any serious releases in Japan. The USA published some minor reports: Trade Balance and Factory Orders. Current situation Overall structure was firmly bullish on Tuesday. The USD/JPY remained in an ascending channel, trading close to its lower limit. The dollar wasn’t able to post fresh gains versus the yen but refused to give up. The pair extended its consolidation phase under fresh highs at 114.80 and spent the day around 114.00. The price tested and bounced off the 50-EMA in the 4 hours chart. The moving averages maintained their bullish slope in the same timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00. MACD remained at the same level which confirms the strength of buyers. The RSI indicator stayed neutral. Trading recommendations The overall outlook remains bullish, for rise towards the 115.00 resistance area. A failure here will send this market to 113.00 and further out to 112.00. A move below 112.00 will ease the current buying pressure. AUD/USD General overview The Australian dollar weakened following the RBA decision to leave the rate unchanged. Moreover, the regulator pointed to a possible near-term economic slowdown in the country. Current situation After facing rejection near the 0.7500 mark, the pair came under renewed selling pressure on Tuesday and reversed all of its gains recorded in the previous session. The AUD returned to 0.7450 region where it spent the European session. The price made a timid attempt to recover ahead of the NY session. According to the 4 hours chart the price bounced upwards from the 50 and 100 EMAs. The 50 EMA crossed the 100 EMA upwards. The 100 and 200 EMAs maintained their bearish slope, while the 50 EMA pointed higher. The resistance is at 0.7500, the support comes in at 0.7450. MACD entered the positive area. RSI remained within neutral territory. Trading recommendations The pair may extend its recovery if it stays above 0.7450. Traders may push prices higher towards 0.7500. The 0.7500 resistance area appeared to be a tough nut to crack, prices have bounced a number of times from it. A new failure here will reject the AUD/USD pair to 0.7450. If buyers succeed the Australian dollar will extend gains towards 0.7550. XAU/USD General overview Gold was down and stayed near 10-month low as the expectations for a possible Fed interest rate hike continued to weigh on the yellow metal. Current situation Gold prices maintained their neutral stance on Tuesday. Having bounced from 1160 the precious metal jumped to 1170. The pair stayed confined within a tight trading range between 1170-1175 dollars per ounce during the day. XAU/USD remained below the moving averages in the 4 hours chart. All moving averages pointed lower. The resistance exists at 1180, the support stands at 1170 dollars per ounce. MACD remained at the same level which confirms the strength of sellers. RSI remained within neutral territory. Trading recommendations We would be selling the pair only if the price drops below 1170. In this scenario the potential target is at 1160 dollars per ounce. Brent General overview Oil prices moved lower on profit taking after a strong last week rally. Traders focused their attention on how OPEC will implement its deal to cut output. Current situation Oil prices retreated from yearly highs amid some profit-taking. The price moved lower and broke 54.50 dollars per barrel post-Europe open. After breaking the level the benchmark extended its losses towards 53.50 which tested ahead of the NA opening. The price hovered above the moving averages in the 4 hours chart. The 200 EMA was neutral while the 50 and 100 EMAs maintained their bullish slope. The resistance lies at 54.50, the support comes in at 53.50 dollars per barrel. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought levels and moved downwards. MACD remained at the same level which confirms the strength of buyers. The RSI indicator was holding near overvalued level and headed south. Trading recommendations If a gloomy trend retains Brent will break 53.50 in the upcoming sessions. Having overcome the first target the price might advance towards 52.50 and 51.50 dollars per barrel. DAX General overview European stocks opened flat experiencing pressure amid oil prices decline. Current situation The index gapped lower at the open on Tuesday. The price slightly weakened after the gap and posted the daily lowest point at 10661. DAX reversed its direction at the beginning of the European session. Prices strengthened above 10700 and set a daily high 10751. The 4 hours chart showed that the price is above the moving averages. All moving averages were neutral during the day. The resistance exists at 10800, the support stands at 10700. MACD traded to the upside. The RSI indicator remains within overvalued readings. Trading recommendations If the price fixates below the support 10700, it may continue the downward trend in the short term. The potential targets are 10600 and 10650. A move higher will keep buyers’ in the driver’s seat and will extend gains towards 10750. NASDAQ General overview Wall Street opened lower on Tuesday as energy stocks weighed on. NASDAQ got some support in early trades from technology shares growth. Current situation The index showed mixed trades on Tuesday. NASADAQ made slightly higher in the early trades trying to reclaim 4800. The upward impetus lost its strength around the level. Having faced a rejection here the index moved lower and returned to the opening price. The benchmark remained under pressure during the NY hours struggling hard to break 4770. The price tested 200 EMA but failed to break it in the 4 hours chart. The 200 and 50 EMAs pointed lower while the 100 EMA was neutral. The resistance is at 4800, the support comes in at 4770. MACD grew which indicates the sellers’ positions weakening. The RSI was within the neutral area. Trading recommendations We suppose the NASDAQ index will turn lower. As the most probable scenario, we consider a break below 4770 and bearishness extension towards 4740 and 4710. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

6.12.2016 Euro General overview The euro fell to the 20-month low following the Italian referendum. The majority of Italian people voted against the Matteo Renzi’s constitutional reforms making him resign. Current situation The euro gapped lower at the open on Monday. The price jumped from 1.0655 to 1.0625 and extended its losses after the gap. The EUR/USD broke 1.0600, 1.0550 and tested 1.0500 where the downward impetus faded. The pair bounced off the level and reversed its early losses. The EUR/USD returned to opening price in the mid-Europe and extended its bid tone later the day. The pair broke 1.0700 ahead of the NY opening and trended further. According to the 4 hours chart that the price broke the 50 and 100 EMAs on its way upwards. 50-EMA was neutral while 100 and 200-EMAs pointed lower in the same chart. The resistance is at 1.0750, the support comes in at 1.0700. MACD formed signal to rise. The RSI bounced off the oversold area. Trading recommendations In the scenario where the buyers keep control the pair will advance to the level 1.0750. The level 1.0800 is the next buyers’ target. Pound General overview The pound strengthened on Monday on the back of a dollar retracement and due to UK’s upbeat Services PMI from Markit. Current situation The pound gapped lower at the weekly opening. However, the downward impulse was short-lived, the pound filled the gap in the mid-Asia and extended its gains. From a technical point of view GBP/USD retained its upward trajectory. The price stood firm above 1.2700 in the European session. Buyers seemed not to have enough strength to climb higher which suggest a minor correction. The price hovered above the moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 50, 100 and 200 EMAs maintained their bullish slope. The resistance lies at 1.2700, the support comes in at 1.2600. MACD remained at the same level which confirms the strength of buyers. RSI tested overvalued level and remained around it. Trading recommendations We preserve a bullish outlook for a rise towards 1.2800 resistance area. A return below 1.2700 will ease the current upward pressure. The price may correct to 1.2600. Yen General overview The yen was under pressure after the recent upbeat US labor market data. The Italian referendum and risk-on sentiment did not give the yen a chance to recover on Monday. Current situation The yen extended its losses versus the dollar on Monday. The USD/JPY returned to multi-month highs during the early trades, the pair jumped from 113.00 to 114.00. The upward momentum faded above the 114.00 level where the price remained till the NA session. The US traders pushed prices higher and advanced towards 115.00. According to the 4 hours chart the price bounced off the 50-EMA upwards and continued developing well above the moving averages. The resistance is highlighted at 115.00, the support comes in at 114.00. MACD remained at the same level which confirms the strength of buyers. RSI moved north which confirms the current upward momentum. Trading recommendations A bullish tone prevails in the 4 hours chart. Once we break above 114.00, we think that the 115.00 level will be next. AUD/USD General overview The Australian dollar was able to reverse some of its prevous losses versus the US dollar following the recovery in commodity prices and upbeat Services PMI in China. Current situation We preserve a short-term bearish outlook for the pair. The AUD/USD hovered above 0.7400 after a pullback from a recovery high at 0.7467 on Monday. Traders pushed prices higher in the NA session. The pair broke 0.7450 and headed higher. The price bounced off the 100-EMA downwards and stayed between the 50 and 100 EMAs in the 4 hours chart. The 100 and 200-EMAs pointed lower while the 50-EMA was neutral. The resistance is at 0.7450, the support comes in at 0.7400. MACD indicator was in the central line. RSI remained within neutral territory. Trading recommendations The technical picture presents a bearish tone. We suppose the pair will go to 0.7400 first. Having overcome the first target the price might advance towards 0.7350. XAU/USD General overview The political uncertainty in Europe pushed gold prices upwards. However its recovery was short-lived as the dollar positions remained strong amid strong expectations over the Fed rate hike action this month. Current situation Last week upward momentum faded around 1190. The level rejected prices to fresh multi-month lows on Monday. The precious metal dropped below 1170 and stopped a few pips above 1160 dollars per ounce. The pair slightly recovered and traded around 1165 in the early NY session. A new selling pressure weighed on gold prices at the beginning of the North American session. The yellow metal tested 1160 struggling with the level to edge lower. The price bounced off the 50-EMA downwards and continued developing well below the moving averages in the 4 hours chart. All moving averages pointed lower. The resistance exists at 1170, the support stands at 1160 dollars per ounce. MACD remained at the same level which confirms the strength of sellers. RSI was in the oversold area. Trading recommendations The price maintained its bearish tone in the 4 hours chart. As the most probable scenario, we consider further moving downwards towards the level at 1160. A move lower will open the way towards 1150 and 1140. Brent General overview Brent oil prices refreshed 16-month tops and broke above the mark 54.50 amid OPEC decision to cut production. Current situation Fresh buying pressure around oil prices boosted Brent futures to fresh highs. The benchmark ignored the downward gap at the daily opening. Oil prices bounced off 53.50 dollars per barrel and trended higher breaking 54.50 ahead of Europe opening. The price barely touched the level 55.50 and remained below it hovering over fresh highs for the first time since July 2015. Brent hovered above the moving averages in the 4 hours chart. The 200-EMA was neutral while the 50 and 100 EMAs maintained their bullish slope. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel. MACD remained at the same level which confirms the strength of buyers. The RSI indicator remained within overvalued readings. Trading recommendations The technical picture presents a bullish tone. Once we break above 55.50 dollars per barrel, we think that the 56.50 level will be next. DAX General overview European stocks traded higher on Monday as investors ignored Italian referendum results. The growing euro stocks supported stocks as well. Current situation DAX gapped lower at the open on Monday. The price almost reached 10400 when reversed its direction and rallied upwards. The benchmark broke several levels on its way upwards and slowed down around 10700. After posting a daily high at 10737 DAX moved below 10700. The price rallied and broke all moving averages in the 4 hours chart. The 100 and 200 EMAs were neutral while the 50-EMA turned lower. The resistance exists at 10700, the support stands at 10600. The MACD histogram grew which indicates the buyers’ strength. RSI headed north. Trading recommendations A bullish tone prevails in the 4 hours chart. All eyes are right now at the resistance level 10700. A break above will strengthen buyers’ positions. In this potential scenario the price may extend its gains towards 10800. SP500 General overview Wall-Street edged higher on Monday as US stocks continued a post-election rally, getting support from firm oil prices and gains in financial stocks. Current situation The index returned to its upbeat tone on Monday. After bouncing from 2180 the price moved higher. Traders broke the level 2200 in the mid-Europe session. The price grew higher in the NY session. The 4 hours chart presented that the price broke 100-EMA and tested 50-EMA on its way upwards. All moving averages maintained their bullish slope. The resistance is at 2220, the support comes in at 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 bounced off the oversold area. Trading recommendations We believe the benchmark will maintain its bullish tone in the short-term. Once we break above 2200, we think that the 2220 level will be next. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 05.12.2016 Euro General overview The euro edged lower on Friday amid Germany bonds market weakness. Moreover, traders were cautious ahead of US unemployment data and Italian referendum. Nonfarm Payrolls disappointed markets with its mixed figures. The number of jobs grew while the unemployment rate fell in the country. Current situation The market remained positive on Friday. The euro met a barrier around 1.0700 and bounced off the level after two-day rally ahead of the European opening. The pair declined and tested 1.0650 post-Europe open and stayed at the level ahead of the NY opening. A new buying interest pushed prices towards 1.0700. The 4 hours chart showed that the price grew and tested the 100-EMA in the European session. EUR/USD bounced off the moving and surged lower ahead of the NY opening. The price was between the 50 and 100 EMAs during the New York session. The resistance is at 1.0700, the support comes in at 1.0650. The MACD histogram grew which indicates buyers’ strength. The RSI remained within overbought readings. Trading recommendations We expect the pair to maintain its bearish tone. A break below 1.0600 might force the euro to resume its downward trajectory towards 1.0500. Alternatively, we do not rule out a short term growth towards 1.0750. Pound General overview The pound moved higher on Friday amid better-than-expected UK’s Construction PMI. However its growth was limited by the US labor market mixed data. Current situation After refreshing November high at 1.2700 the pound softened to the 1.2600 support area where buyers found a solid support to take a breath. Traders made another attempt to buy sterling in the NY session. The pair bounced off the level 1.2600 and trended upwards to the recent highs. The price continued developing well above the moving averages which all pointed higher. The resistance lies at 1.2700, the support comes in at 1.2600. 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 If the current resistance breaks, the price may grow further that should send this market looking for the 1.28 level. A return below 1.2600 will question buyers' strength and may cause a sell-off to the 1.25 - 1.24 region. Yen General overview The dollar did not take advantage of a weaker yen and softened on Friday. Current situation The USD/JPY pair remained in an upward channel. Buyers seem to be consolidating their gains, accumulating strength for a new upward impetus. The price moved away from the upper limit of the channel and headed towards 113.00 on Friday. The moving averages slightly changed from Friday. The price stayed above the moving averages which all pointed higher. The resistance is highlighted at 114.00, the support comes in at 113.00. MACD decreased which indicates the buyers’ positions weakening. RSI moved from the overbought levels. Trading recommendations Once we break above the 114.00 level, we think that the 115.00 level will be next. However, inability to refresh highs may cause a sell-off towards 112.00. USD/CAD General overview The mixed U.S. unemployment data weighed on the dollar across the board giving additional upward momentum to its Canadian peer. Moreover, oil prices retracement from 16-month high helped the USD/CAD to retake 1.33 level and to extend losses. Current situation USD/CAD opened on a weaker note and maintained a gloomy tone on Friday. After a brief consolidation phase during the European hours traders pushed the price towards 1.3260. The pair met a barrier around the level and rolled back immediately after the test. The price broke the 200-EMA on its way downwards in the 4 hours chart. The 200-EMA kept heading higher, while 50 and 100 EMAs pointed lower. The resistance is at 1.3330, the support comes in at 1.3260. The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator was holding near oversold levels, favoring a new move lower. Trading recommendations The level 1.3260 slowed down dollar weakness. A cut through here will aim at the 1.3190 level. Conversely, if the level 1.3260 holds and reject prices the dollar may recover towards 1.3400. XAU/USD General overview Despite the dollar retracement across the board Gold remained unmoved on Friday as risk on sentiments prevailed. Current situation Gold prices struggled for a direction on Friday staying between the current support and resistance. The price moved back and forth between 1180 - 1170 during the day. The pair continued developing well below the moving averages. The price broke 50-EMA and stopped half way towards the 100-EMA in the 1 hour chart. The moving averages maintained their bearish slope. The resistance exists at 1180, the support stands at 1170 dollars per ounce. MACD was in the negative territory. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was in a neutral area. Trading recommendations We prefer to stay neutral for now. We expect further sideways trades in the coming days. Brent General overview Oil prices moved lower on Friday amid profit-taking and doubts that the recent OPEC agreement will be able to rein in a global glut. Current situation Oil prices traded mixed on Friday. The price moved lower in the European session and found some support above 52.50 dollars per barrel. The price bounced off the level and edged higher during the NY hours. The benchmark returned to 16-month high post-US open. The price hovered above the 50, 100 and 200 EMAs in the 4 hours chart. The 200-EMA was neutral while the 50 and 100 EMAs moved higher. The resistance lies at 55.50, the support comes in at 53.50 dollars per barrel. MACD remained at the same level which confirms the strength of buyers. RSI consolidated within positive territory. Trading recommendations If a positive mood persists oil prices will extend their upward momentum towards 55.50. At the same time a firm break below 53.50 handle would open the way to 50.50 dollars per barrel. DAX General overview European stocks traded higher on Friday despite the uncertainty over the Italian referendum. Oil prices steady growth and the U.S. dollar retracement supported stocks in the EU. Current situation DAX gapped lower on Friday. The price jumped from 10480 to 10470 in early Asian trades. The index extended its losses after the gap and reached 10400 post-Europe open. The benchmark tested the level 10400 and bounced off the level right after the test. The price rallied to 10500 and filled the midnight gap ahead of NY opening. The price broke the 100 and 200 EMAs in the 4-hours char on its way downwards. The 100 and 200 EMAs were neutral while the 50-EMA headed lower. The resistance exists at 10600, the support stands at 10500. MACD grew which indicates the sellers’ positions weakening. The RSI indicator bounced off the oversold territory. Trading recommendations If bulls take control the DAX index is expected to rise towards 10600. NASDAQ General overview Despite the disappointed US labor data the US stocks traded higher on Friday getting firm support from oil prices strength. Current situation The index opened lower on Friday but was able to reverse some of its losses during the day. The price met a barrier around 4710 which rejected the benchmark upwards. The price grew and broke 4740 during the NY session. After the break NASDAQ Composite extended its gains towards 4740. The index remained below moving averages in the 4 hours chart. The 100 and 200 EMAs remained neutral while the 50-EMA turned lower. The resistance is at 4770, the support comes in at 4740. MACD grew which indicates the sellers’ positions weakening. RSI bounced off the oversold area. Trading recommendations A further recovery towards 4770 will neutralize the current downward pressure. If a positive tone persists the benchmark will extend its recovery 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. 02.12.2016 Euro General overview Manufacturing PMI in EU showed upbeat results while the same PMIs in Germany and France disappointed markets. The dollar ignored the downbeat US labor market data and maintained its upward trajectory on the back of growing oil prices. Current situation The pair had a positive day on Thursday. Having found a local bottom around 1.0600 the common European currency bounced to 1.0625. The price hovered above the 1.0600 handle during the European hours, maintaining its neutral stance. The price grew and broke the 50-EMA on its way upwards in the 4-hours chart. The pair remained below the 100 and 200-EMAs in the same chart. The 50-EMA was neutral while the 100 and 200 EMAs maintained their bearish slopes. The resistance is at 1.0650, the support comes in at 1.0600. MACD indicator was at the centerline. RSI remained within neutral territory. Trading recommendations The indicators recommend short positions. If a selling pressure persists the pair risks further easing towards 1.0550. Pound General overview The pound edged higher on Thursday despite a weak Manufacturing PMI. The sterling strengthened amid a backdrop of USD weakness. Current situation The bullish views are getting more popular in the market. The pound extended its recovery after pushing away from 1.2400 handle. The pair broke 1.2500 in yearly trades and continued advancing upwards afterwards. Buyers climbed above the level 1.2600 ahead of the NY opening. The price bounced off the 50 and 100 EMAs and jumped upwards in the 4 hours chart. All moving averages presented moderately bullish slope in the mentioned timeframe. The resistance lies at 1.2700, the support comes in at 1.2600. The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed near overbought levels, favoring a new move higher. Trading recommendations The price is expected to roll back after yesterday’s rally. We believe the GBP/USD pair may return to 1.2500 in the coming sessions. Yen General overview The dollar grew to 9 month high against the yen on the back of the strong US data. However, the yen got a minor support from Japanese Manufacturing PMI. Current situation The bullish views remained intact on Thursday. The pair stayed around its recent highs during the day. The upward momentum faded around 115.00. Being well defended by bulls the level rejected prices to the 114.00 support region. The moving averages slightly changed since yesterday. The resistance is highlighted at 115.00, the support comes in at 114.00. MACD remained at the same level which confirms the strength of buyers. The RSI indicator remains within overbought readings. Trading recommendations The overall outlook remained bullish, for a rise towards 115.00 resistance area. After breaking the level the pair has all chances to advance further and test 116.00. NZD/USD General overview The New Zealand dollar remained under pressure amid its American counterpart strength. The US dollar strengthened after strong unemployment data which increased chances of the Fed rate hike this month. Markets took a wait and see position ahead of the today's NFP release. Current situation After a recent rally the NZD sharply dropped to the 0.7100 region and remained neutral during the day. The NZD/USD pair traded flat being stuck in a phase of downside consolidation. An attempt to take out the level 0.7100 failed, the price had to roll back. The pair stayed between the 50 and 100 EMAs in the 4 hours chart. The 200-EMA was neutral, the 100 EMAs pointed lower while the 50-EMA edged higher. The resistance is at 0.7100, the support comes in at 0.7050. MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory, but advanced south which confirms the current downward movement. Trading recommendations A move below 0.7100 will confirm the strength of sellers. The price is expected to aim at 0.7050 after the 0.7100 level break. XAU/USD General overview Gold prices slightly recovered after a recent decline to 10-month low. A weak dollar retracement helped the yellow metal to reverse some losses. However gold recovery was limited due to strong expectations of the Fed hike action in December. Current situation Daily technical studies remained bearish. Gold met a barrier around 1160 and bounced off it. The price recovered to the 1180 region where the upwards momentum lost its strength ahead of the Europe opening. Gold prices suffered a short lived downward movement and moved to 1170 in the mid-Europe trades. According to the 4 hours chart the price continued developing well below the moving averages which maintained their bearish slope. The resistance exists at 1180, the support stands at 1170 dollars per ounce. MACD remained at the same level which confirms the strength of sellers. The RSI indicator continued consolidating within oversold levels. Trading recommendations We expect to see renewed bearish pressure. The next level to focus on is 1160. Brent General overview Traders believe that the OPEC deal will not cut oil output as the USA may draw more supplies from its storage tanks to support market's demand. Current situation The trend is objectively bullish now. Oil prices extended their buying momentum in yearly trades on Thursday. Prices reached 52.50 where traders took a pause after a recent rally. The benchmark was flirting with the level the whole day trying to take it out. The 50-EMA broke the 200-EMA and headed north in the 4 hours chart. The 50, 100 and 200 EMAs are turning upwards. The resistance lies at 53.50, the support comes in at 52.50 dollars per barrel. The MACD histogram grew which indicates buyers’ strength. RSI was consolidating within positive territory. Trading recommendations We expect some profit-taking after the resent rally. The price may roll back to the 51.50 support region. DAX General overview DAX traded lower on Thursday as traders remained cautious ahead of the Italian referendum on Saturday. European stocks were slightly supported by growing oil prices. Current situation DAX remained under pressure and traded lower on Thursday. Prices broke the level 10600 and dropped to 10550 where sellers took a pause. Sellers began pushing the price lower in the North American session. The benchmark broke the 200 and 100 EMAs and headed lower in the 4 hours chart. The 100 and 200 EMAs remained neutral while the 50-EMA turned lower. The resistance exists at 10600, the support stands at 10500. The MACD histogram decreased which is a sell signal. RSI moved downwards. Trading recommendations After a close below the support at 10500 we could see DAX extend its declines down to 10400. SP500 General overview Wall Street opened higher as growing oil prices lifted shares of energy companies. Current situation The bearish views seem to become more popular. Inability to refresh weekly high at 2212 weighed on the benchmark. S&P500 opened lower and extended it weakness overnight on Thursday. Traders pushed prices below 2200, the benchmark moved lower but remained around 2200 during the NY session. The 50-EMA broke the 200-EMA and headed north in the 4 hours chart. The 50, 100 and 200 EMAs are turning upwards. The resistance is at 4900, the support comes in at 4865. 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 remained within neutral territory. Trading recommendations The price eyes a strong support at 2200 loss of which would trigger further weakness towards 2180. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 01.12.2016 Euro General overview The euro strengthened on Wednesday amid upbeat Eurozone data. Retails Sales in Germany showed growth, Unemployment Rate coincided with traders’ expectations. However, a strong US unemployment data together with Personal Income report erased all its gains. Current situation The EUR/USD pair traded around recent highs on Wednesday. Bulls made an attempt to reclaim the level 1.0650 in the yearly trades but failed as the level was well defended by sellers. The price pushed away from the level and dropped below 1.0600. The pair broke the 50-EMA and hovered about it during the European hours in the 4 hours chart. The moving averages maintained their bearish slope. The resistance is at 1.0600, the support comes in at 1.0550. The MACD histogram decreased which indicates the sellers’ strength. RSI trended downwards. Trading recommendations A break of 1.0650 may trigger the next leg of upward move for the pair, buyers may lead prices to 1.0700. If the level holds sellers may push prices towards 1.0550. Pound General overview The empty UK calendar turned investors’ focus to the US data and OPEC meeting results. The US Employment data supported the dollar and weighed on the pound. Current situation Traders kept the price in a flat on Wednesday. The GBP/USD pair comfortably traded around 1.2500, being unable to set short-term direction during the first part of the day. Sellers pushed the price lower in the mid-Europe session. The pound sharply dropped to the lower limit of the range. The GBP/USD stayed above the moving averages in the 4 hours chart. The moving averages were neutral. The resistance lies at 1.2500, the support comes in at 1.2400. Technical indicators MACD and RSI remained flat. Trading recommendations Inability to break 1.2500 put bulls' plans on hold. The price may bounce of the level and reach 1.2400 in the coming sessions. Yen General overview The yen weakened against the dollar amid weaker-than-expected Industrial Production release. Moreover, the upbeat US statistics supported the greenback. Current situation The dollar was stronger on Wednesday, trading near local high against the yen. After recovering from 112.00 the pair faced a solid barrier at 113.00 and struggled hard to break it during the European session. Bulls broke the level ahead of the NY opening and trended towards 114.00. The price broke the 50 and 100 EMAs in the 1 hour chart and stayed above them during the day. The 50, 100 and 200 EMAs were pointing higher. The resistance is highlighted at 114.00, the support comes in at 113.00. The MACD histogram grew which indicates buyers’ strength. RSI moved upwards. Trading recommendations A failure to break above 113.00 risks a slide to 112.00. A move below 112.00 may ease the current buying pressure, opening the way to further losses towards 111.00 and 110.00. A consolidation above 113.00 will risk the 114.00 resistance. AUD/USD General overview The Australian dollar weakened against the US dollar following weak Building Permits release. Current situation The pair gave up recent highs and moved away from 0.7500. The level seems to be well defended by sellers as the price had bounced off the level second time. The AUD/USD weakened to 0.7450 during the European hours and broke the line in the New York session. The price bounced off the 100-EMA in the 4 hours chart. The 100 and 200 EMAs headed south while the 50-EMA turned upwards in the mentioned timeframe. The resistance is at 0.7450, the support comes in at 0.7400. The technical indicators headed south within bullish territory. MACD decreased which indicates the buyers’ positions weakening. The RSI indicator lost upward strength and moved downwards. Trading recommendations The level 0.7400 limited pair’s downward trajectory. After the level break we may see the pair extending its losses towards 0.7350. To develop an upward momentum the pair needs to overcome the 0.7500 barrier. If buyers break the level we may see the Aussie growing to 0.7550. XAU/USD General overview Gold weakened on the back of the upbeat US data and due to expectations of the rate hike action by the Fed in December. Current situation Gold prices remained confined within a trading range around 1190 in the European session. An attempt to take out the level failed. After refreshing a daily high at 1193 the price moved below the level where it spent the rest of the day. The price broke the 50 and 100 EMAs in the 1 hour chart in early trades. However, the yellow metal failed to extend its gains and returned below the lines post-Europe open. The moving averages maintained their bearish slope. The resistance exists at 1180, the support stands at 1170 dollars per ounce. The indicators slightly changed from yesterday. MACD remained in the negative area. RSI moved downwards. Trading recommendations Any move above the immediate resistance would increase chances of testing the 1200 level. A failed test of the 1190 barrier may cause a further extension towards 1180 and 1170. Brent General overview OPEC members agreed to cut the output for the first time since 2008. Current situation The tone was positive in the market on Wednesday. The price gapped higher at the open and maintained its bullish momentum during the day. Brent futures broke 47.50, 48.50, 49.50 and tested 50.50 in the mid-Europe session. Bulls lost their strength around 50.50 where the benchmark slowed down and rolled back. The price pushed away from the 50-EMA and advanced north breaking the 100 and 200 EMAs on its way. The resistance lies at 50.50, the support comes in at 49.50 dollars per barrel. Technical indicators are now giving bullish signals. MACD 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 headed north which confirms the current upward momentum. Trading recommendations Brent oil prices may roll back after the recent rally. The benchmark may return below 49.50 to consolidate its gains. DAX General overview Shares in European banks strengthened on Wednesday following Energy and Chemical stocks growth. Current situation The index gapped higher at the open on Wednesday. The benchmark slightly grew after the gap, breaking above previous day’s top. The price tested the 50-EMA in the 4 hours chart. The moving stopped its further extension and rejected the price downwards. The 100 and 200 EMAs were neutral while the 50-EMA headed lower. The resistance exists at 10700, the support stands at 10600. MACD grew which indicates the sellers’ positions weakening. RSI advanced towards the overbought readings. Trading recommendations We do not believe the DAX index to continue with its gains in the short-term unless, of course, it breaks above 10700. We expect a break below 10600 and further extension towards 10500. NASDAQ Current situation NASDAQ had a negative day on Wednesday. The index started the day in a flat and faced fresh downward pressure during the European session. The price was struggling with the 4865handle to go lower. According to the 4 hours chart the price tested the bullish 50-EMA. The 50 and 100 EMAs headed higher while the 200-EMA remained neutral. The resistance is at 4900, the support comes in at 4865. MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards. Trading recommendations We expect the downward pressure to persist. A break below 4865 will open the way to 4830 and 4800. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 30.11.2016 Euro General overview The dollar strengthened against the euro on the back of the weak Eurozone data. Business Climate, Economic Sentiment and Services Sentiment in Eurozone came out worse-than-expected weighing on the single currency. Current situation The EUR/USD pair spent Tuesday in a quite consolidation. The recent rally was stopped around psychological barrier 1.0700 which rejected prices downwards. Having faced fresh selling pressure the euro sharply dropped to the 1.0550 support region where the pair showed a minor recovery and was able to reverse some losses. The recovery action lost strength around 1.0600 where the pair spent the rest of the European session. Sellers moved prices lower in the NY session. The price continued developing well below the moving averages. The price grew and snapped the 50 and 200-EMAs in the 1 hour chart in yearly trades. After testing the level the pair bounced downwards and broke the 100-EMA. All moving averages pointed lower. The resistance is at 1.0600, the support comes in at 1.0550. MACD indicator is at the centerline. If the histogram returns into the negative territory that will indicate sellers’ growing strength. RSI remained within neutral readings. Trading recommendations Technical indicators kept giving bearish signals. We believe that bears may remain in the driver's seat in the short-term and may drive pair lower towards 1.0500. Pound General overview The pound strengthened on Tuesday following the upbeat Mortgage Approvals and Consumer Credit releases. Current situation The pound continued its sideways trades on Tuesday. The pair began the day around 1.2400 and spiked ahead of the European trades. The rally was limited by the upper band of the range around 1.2500 which stopped bulls' attack. The price broke the 50 and 100-EMAs in and stayed above them in the 4 hours chart. The 50, 100 and 200 EMAs remained neutral. The resistance lies at 1.2500, the support comes in at 1.2400. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. RSI remained within neutral territory. Trading recommendations We assume that the pound will remain in the latest range in the short-term. A move below or above the range is likely to show its further continuation. Below 1.2400, GBP/USD will likely target 1.2300 support. Conversely, the pair needs the 1.2500 resistance retest before the price can rally towards 1.2600. Yen General overview The USD/JPY pair recovered on Monday due to disappointing Overall Household Spending report in Japan. Current situation Bulls seemed to have returned in the game on Tuesday. The pair bounced off the lower limit of the ascending channel and extended its near-term upward trajectory. Having bounced off 112.00 the price trended to 113.00 and tested the level ahead of the NY session. After breaking the level the dollar accelerated its growth and headed towards 114.00. The price continued developing well above the moving averages in the 1 hour chart. The pair grew and broke the 50 and 100 EMAs in the mentioned timeframe. The moving averages are pointing higher. The resistance is highlighted at 114.00, the support comes in at 113.00. The MACD histogram grew which indicates buyers’ strength. RSI traded to the upside. Trading recommendations If the bullish tone persists we expect a breakout of the level 113.00. A consolidation above the level will favor an advance up to the 114.00 region. USD/CAD General overview The greenback kept the upbeat tone unchanged vs. its Canadian peer on Tuesday. The dollar was supported by the US GDP. Moreover, all commodity currencies were under pressure due to oil prices decline. Current situation The bullish sentiment in USD remained intact yesterday. The price still trades in the near term upward channel. The USD/CAD bounced off the lower boundary of the channel around 1.3400 and advanced towards 1.3470 during the European hours. The pair struggled hard with the level to extend its gains ahead of the New York session. The price pushed away from the 200-EMA in the 4 hours chart. The pair grew and snapped the 50 and 100 Day EMAs in the same chart. The moving averages are pointing higher. The resistance is at 1.3470, the support comes in at 1.3400. MACD grew which indicates the sellers’ positions weakening. RSI bounced off the oversold readings. Trading recommendations Bulls kept focusing at the 1.3470 barrier on Tuesday. A daily close above the level may risk 1.3540. Alternatively, a failed test of the level shall send this market back to the 1.3400 handle. XAU/USD General overview Gold prices softened on Tuesday amid strong expectations for a U.S. rate hike next month. Besides, a stronger dollar and the upbeat strength of the US economy keep weighing on the yellow metal. Current situation Gold prices have been under pressure since Monday. The price stayed in a short-term descending channel and bounced off its upper limit on yesterday's trades. Sellers pushed prices below 1190 and drove them towards 1180 during the day. The price stayed below the 50, 100 and 200 moving averages in the 1 hour chart. The pair tested the 100-EMA and bounced downwards breaking the 50-EMA on its way down. All moving averages kept pointing lower. The resistance exists at 1190, the support stands at 1180 dollars per ounce. The MACD histogram decreased which indicates the sellers’ strength. The RSI returned to the overvalued territory, favoring a new move lower. Trading recommendations Gold approached the 1180 support area. If it starts to challenge this region it is likely to break it. In this scenario sellers will drag prices towards 1170. Brent General overview The uncertainty over OPEC decision regarding the output freeze weighed on oil prices yesterday. Current situation The recent recovery lost momentum around 48.50. The level rejected oil prices downwards right after the level test. Brent continued to grind lower yesterday. The benchmark broke the 47.50 handle in the mid-Europe session and continued weakening afterwards. The price tested the 46.50 support ahead of the NY session. According to the 4 hours chart the price faced recovery rejection around the 200-EMA. The benchmark turned lower right after the moving average test. Oil prices broke the 50 and 100 EMAs on their way down. The 200-EMA kept heading lower while the 50 and 100 EMAs are neutral in the mentioned timeframe. The resistance lies at 47.50, the support comes in at 46.50 dollars per barrel. The MACD histogram decreased which indicates the sellers’ strength. RSI moved towards the oversold levels. Trading recommendations A close below 46.50 will trigger additional losses towards 45.50. We do not exclude a brief consolidative phase and a short-lived recovery towards 47.00. DAX General overview European stocks traded mixed on Tuesday amid the uncertainty from OPEC and ahead of the referendum in Italy. Current situation After recent sideways trades the DAX index moved lower in the beginning of the week. The tone was negative in the market on Tuesday. The index extended its losses in the yearly trades. After posting the lowest point at 10533 the price rolled back and was able to recover the minor pat of its losses. The benchmark stayed around 10600 flirting with the level till the end of the day. The price stayed in the 100 and 200 EMAs region on yesterday’s trades. The 100 and 200 EMAs were neutral while the 50-EMA pointed lower. The resistance exists at 10600, the support stands at 10500. The MACD histogram decreased which indicates the sellers’ strength. RSI remained within neutral territory, but moved downwards. Trading recommendations Once we consolidate below the 10600 level, we think that the 10500 handle will be next. We do not rule out a recovery towards 10650. SP500 General overview Wall Street opened neutral as post-election rally appeared to have run out of steam. Investors waited for fresh market movers to set up their direction. Current situation The market remained neutral on yesterday's trades. The price hovered above the 2200 handle bouncing from the level on every attempt to the downside. The index continued developing well above the moving averages which extended their growth. The benchmark stayed around the 50-EMA in the 4 hours chart which provided it a solid support. The resistance is at 2220, the support comes in at 2200. MACD decreased which indicates the buyers’ positions weakening. RSI headed downwards which confirms the strength of sellers. Trading recommendations The nearest bulls' target remains the resistance level 2220. At the same time a break below 2200 would open the way to 2180 *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 29.11.2016 Euro General overview All eyes were on Mario Draghi’s speech on Monday. Investors expected to hear from the regulator new guidelines regarding the further economy course and the potential consequences following the Brexit vote. Current situation Bears seem to have returned to the game. Last week recovery lost its strengthened around 1.0700. The pair retreated from its recent highs and returned below 1.0650 post-Europe open. Sellers drove the price towards the level 1.0600 during the European hours. The price broke the 200-EMA downwards and met a barrier around the 50 and 100 EMAs in the 1 hour chart. The 200-EMA pointed lower while the 100-EMA turned neutral and the 50-EMA turned higher. The resistance is at 1.0650, the support comes in at 1.0600. MACD grew which indicates the sellers’ positions weakening. RSI turned south. Trading recommendations A return below 1.0650 put on hold bulls’ plans. The bearish momentum is getting strength now. A bearish continuation through 1.0600 should lead to a continued slide towards 1.0550 as the first probable target. Pound General overview The pound edged lower on Monday amid EUR/GBP cross strength. Current situation The pound bounced off the upper limit of its sideway channel on Monday. The price sharply fell towards 1.2400 in late Europe trades. After testing the level 1.2400 the price slowed down struggling with the level ahead of the NY opening. The sterling broke the 50-EMA and was stopped by the 100-EMA in the 4 hours chart. All moving averages were neutral in the mentioned timeframe. The resistance lies at 1.2500, the support comes in at 1.2400. The MACD histogram decreased which indicates the sellers’ strength. RSI moved towards the oversold readings. Trading recommendations If the bearish tone persists we expect a breakout of the level 1.2400 and move towards 1.2300. Yen General overview The dollar weakened against the yen as the uncertainty regarding the future events (OPEC meeting, Non-farm Payrolls and referendum in Italy) made investors close their deals. Current situation The price remained in an upward channel on Monday. The USD/JPY stayed around its lower limit, making timid steps to recover during the Asian session. The pair accelerated its growth during the European hours. The pair recovered to 113.00 ahead of the NA session. According to the 1 hour chart the price broke the 100-EMA upwards in the mid-Europe session. The price approached and tested the 50-EMA in the late Europe session. The 100 and 200 EMAs kept heading higher while the 50-EMA turned neutral in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00. MACD grew which indicates the buyers’ positions strength. RSI moved higher. Trading recommendations We favor a return to the growth this week. The first bulls' target is the level 113.00. Should this mark be reached successfully, a further extension towards 114.00 could be observed further. NZD/USD General overview The New Zealand dollar fell against its American counterpart amid oil prices drop and dollar’s return in the driver’s seat. Current situation After touching the level 0.7100 the kiwi stopped its growth. Buyers lost their legs around the level and gave place to sellers. Bears drove the pair to 0.7050 and touched the level ahead of the NA session. The NZD/USD hovered about the 50-EMA in the 4 hours chart. The 50-EMA was neutral and presented a solid support for the price. The 100-EMA crossed the 200-EMA and both lines kept heading lower. The resistance is at 0.7100, the support comes in at 0.7050. 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 off the overbought area and headed towards the oversold readings. Trading recommendations A daily close below 0.7050 will ease the current upward momentum. A loss of 0.7050 may trigger further weakness towards 0.7000. XAU/USD General overview The risk on sentiment weighed on gold prices marking them move away from the recent highs. Moreover market participants preferred to stay out of deals ahead of the upcoming risks events later in the week. Current situation The price failed to advance beyond 1200 dollars per ounce and retreated almost immediately after testing the level. Sellers managed to lead the price from 1200 to 1190 which was broken in the mid-Europe session. Having broken the level the yellow metal continued advancing south. After breaking the 50-EMA the price met a barrier around the 100-EMA in the 1 hour chart. The 100-EMA rejected the precious metal downwards. The price spent the second part of the day between the 100 and 50 EMAs. The resistance exists at 1190, the support stands at 1180 dollars per ounce. MACD traded to the downside while the RSI stayed neutral/negative. Trading recommendations Inability to break above 1200 points to buyers’ weakness. A downtrend will start as soon, as the pair drops below the support level 1190. A move lower may generate negative signals and risk further easing towards 1170 dollars per ounce. Brent General overview Despite the yesterday’s growth Brent futures remained in the red as markets still doubt over OPEC output deal. Current situation Oil prices gapped lower at the open on Monday. The price jumped from 46.85 to 46.00. After touching the level 46.00 the benchmark bounced upwards and filled the gap in the mid-Europe session. Brent tested and broke the level 47.50 ahead of the NY session opening. The price broke the bullish 200-EMA upwards in the 4 hours chart. After crossing the 100-EMA the 50-EMA extended its decline while the 100-EMA is changing its upward direction to the downward one. The resistance lies at 48.50, the support comes in at 47.50 dollars per barrel. The MACD histogram grew which indicates buyers’ strength. RSI bounced from the oversold levels and advanced higher. Trading recommendations A failure to break below 46.50 may lead to a renewed buying interest. A fresh bullish pressure may push the price to the mark 48.00. A consolidation above the mark will neutralize the current downward momentum sending the market towards 48.50. DAX Current situation DAX gapped lower at the open on Monday. The price jumped from 10700 to 10680 and continued advancing south after the gap. The benchmark extended its losses towards 10600 in the European session. After snapping the level the price bounced and remained above the level ahead of the NY opening. The price bounced off the 50-EMA and tested the 100 and 200 EMAs in the 4 hours chart. The resistance exists at 10600, the support stands at 10500. MACD entered the negative area. RSI advanced south which confirms the current downward movement. Trading recommendations A sharp breakout below 10600 could spark a further incline towards 10500 in the coming days. NASDAQ Current situation NASDAQ gapped lower at the open on Monday. After the gap the index stayed in a flat, trading range-bound-to lower. Sellers tried to leave a flat post-Europe open but failed and the price returned in the range. NASADQ hovered above the 50-EMA in the 4 hours chart. The 50 and 100 EMAs maintained their bullish slopes while the 200-EMA remained neutral. The resistance is at 4865, the support comes in at 4830. MACD decreased which indicates the buyers’ positions weakening. RSI traded to the downside. Trading recommendations We believe the benchmark will maintain its bearish tone in the near-term. A clear break below 4830 would indicate that the bearish phase has resumed. After the break sellers will aim at 4800. *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

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"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. 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

Dear Clients! We would like to remind you that, due to the celebration of the Thanksgiving Day in the USA, the US exchanges will be closed on Thursday the 24th of November. On Friday, the 25th of November, is planned an early closure of trades on the US exchanges. As a result, we would like you to keep in mind the following information: - On Thursday, the 24th of November, the trading on futures contracts of the US exchanges will be closed (CME, GLOBEX, ICE), as well as the ETF contracts and CFD on the US shares (NYSE, NASDAQ). - On Friday, the 25th of November, early closure of trading: 20:15 – futures contracts of the US exchanges, 20:00 – ETF and CFD on teh US shares. Please pay attention that during the indicated time period there is a possibility of low liquidity on the FOREX market and during trades on spot metals. This schedule holds an informative purpose and may be changed without notice.

"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. 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. 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

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.

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.

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

"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

"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