ValdisTF

BEST ECN/STP BROKER Dear traders and partners We are happy to announce that FortFS became the winner of "Best ECN/STP Broker" award at 17th MENA FFXPO 2016 in Dubai. We are constantly improving our services to keep up with the highest level of customer satisfaction and to exceed expectations. We would like to thank everyone who has taken part in voting and appreciated us. Fort Financial Services

"Fort Financial Services"- fundamental and technical analysis. 11.11.2016 Euro General overview The uncertainty regarding Trump's economic policy eased on Thursday after fresh talks that the new administration will promote higher economic growth and inflation. Current situation The EUR/USD remained under pressure on Thursday, holding onto recent lows. The euro retained a neutral, short-term undertone. After a sharp drop on Wednesday the currency pair found a support around 1.0900. Prices bounced from the level and reversed minor part of their losses, heading to 1.0950 in the Asian session. Buyers failed to reclaim the level which limited their recovery. The euro spent the first part of the day around 1.0950. The EUR/USD pair declined and broke the level 1.0900 ahead of NY session. The moving averages are heading lower in the 4 hours chart. The 50-EMA is crossing the 100 EMA downwards in the same chart. The resistance is seen at 1.0900, the support could be found at 1.0850. MACD remained in the negative area. The RSI indicator was holding near oversold levels, favoring a move lower. Trading recommendations If a bearish tone prevails EUR/USD will extend its losses towards 1.0800. Pound General overview The pound traded under pressure amid a new oil selling wave and a neutral sentiment in European banks. Current situation GBP/USD was neutral yesterday. The pound bounced from 1.2400 and reversed a minor portion of Wednesday’s losses heading towards 1.2500 in the European session. However, buyers failed to extend their gains, prices turned around and returned to the 1.2400 support area. The price tested the 200-EMA in the 4 hours chart. The 200-EMA acted as a barrier on its way upwards. The GBP/USD pair is sandwiched between the 200-EMA and 50 and 100 EMAs in the mentioned timeframe. All moving averages are neutral. The current resistance is seen at 1.2500, the support is at 1.2400. MACD remained at the same level which confirms the strength of buyers. The RSI indicator continued consolidating within overbought levels. Trading recommendations The pound modestly bounced from oversold readings, but it is far from suggesting an upward continuation. If the pair keeps recovering it may retest the level 1.2500. A cut below 1.2400 will suggest a temporally upward momentum easing and open the way towards 1.2300. Yen General overview The increased demand for risky assets weighed on the yen. The upbeat US labor market report and renewed speculation over the Fed rate hike supported the dollar yesterday. Current situation The USD/JPY pair traded around recent highs on Thursday. Prices rebounded from 105.00 and moved towards 106.00 breaking 105.50 on its way after a brief weakening in the Asian session. Sellers seemed to be guarding the level 106.00 as the quotes bounced from the level on every attempt to the upside. Bulls managed to break the level any way. After the break the pair trended upwards breaking 106.50 and testing 107.00 ahead the NY session. The pair hovered above the moving averages in the 4 hours chart. The moving averages 50, 100 and 200 are turning upwards. The resistance can be found at 107.00, the support comes in at 106.50. The MACD histogram grew which indicates the buyers’ strength. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations After breaking the level 106.50 the pair may extend its gains to 107.00. If the level 107.00 holds it may reject prices towards 105.50. NZD/USD General overview The kiwi weakened against the dollar when the RBNZ cut its benchmark interest rate. Current situation The kiwi had a negative day on Thursday. Sellers pushed the price lower after a brief consolidation phase around 0.7300. The pair broke the level 0.7250 and tested 0.7200 in early US trades. Prices broke the 50 and 100 EMAs and tested the 200-EMA in the 4 hours chart. The moving averages are turning downwards in the same chart. The resistance is at 0.7250, the support can be found at 0.7200. Technical readings are negative. MACD decreased which indicates the buyers’ positions weakening. RSI headed towards the oversold area. Trading recommendations The market is in bears’ hands. Strong bearish sentiment is driving the pair towards 0.7200. The next level to focus on is 0.7150. XAUUSD General overview Renewed interest towards risky assets weighed on gold prices on Thursday. Current situation The XAU/USD traded mixed on Thursday. Gold prices managed to recover on yearly trades and tested the level 1290. Buyers failed to take out the level, prices bounced downwards, broke the level 1280 and moved lower ahead of the US opening. Gold prices broke the 200 and 100 EMAs and stopped at the 50-EMA in the 4 hours chart. The resistance is at 1280, the support comes in at 1270 dollars per ounce. MACD decreased which confirms the strength of sellers. RSI is going downwards which confirms the strength of sellers. Trading recommendations We believe the bearish tone will remain intact. As the most probable scenario, we consider further moving downwards towards the level at 1270. A close below 1270 will trigger losses towards 1260. Brent General overview Oil prices remained under pressure amid Donald Trump's surprise victory and increase in U.S. crude inventories last week. Brent futures slightly recovered amid risk appetite growth. Investors were cautious ahead of a key OPEC meeting on November 30. Current situation Brent futures traded flat staying around recent high at 46.50 on Thursday. Oil prices failed to extend their rebound as sellers seemed to be guarding the level 46.50. Brent got under selling pressure on any up-move upside. Brent oil prices moved lower in early US trades. Sellers led prices from the immediate resistance towards 45.50. Brent futures bounced downwards from the 50-EMA in the 4 hours chart. The 50 and 100 EMAs are heading lower while the 200-EMA is neutral. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel. MACD remained at the same level which confirms the strength of sellers. RSI moved towards the undervalued levels. Trading recommendations The nearest sellers' target remains the support level 45.50. A break below this mark risks a decline towards the support at 44.50. DAX General overview Shares in European banks remained onto recent highs as investors accepted Trump victory. Markets began to think that Donald Trump and his future economical policy may be not bad for financial stocks as they thought before. Current situation The DAX price gapped higher at the open on Thursday. Buyers jumped from 10650 to 10800 but failed to extend their recovery. Prices turned around and moved lower filling the gap after declining back to 10650. Traders continued to advance south heading towards its immediate support at 10600. The index hovered above the moving averages in the 4 hours chart. The moving averages are neutral. The resistance is seen at 10700, the support is at 10600. MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move lower. Trading recommendations The index is oversold and is likely to test the level 10600. After breaking the level a downward movement will be continued towards 10500. NASDAQ General overview Wall Street traded higher on Thursday as investors hoped that the Donald Trump's fresh plans may boost the economy in the short run. Current situation NASDAQ traded onto fresh highs on Thursday. Prices extended their gains in the Asian session. The price was able to escalate to 4865 where it met sellers’ resistance. The index failed to move higher and rolled back towards 4835. The price moved towards the 200-EMA in the hours chart. The moving acts as a support for the price. The moving averages 50, 100 and 200 are neutral. The resistance is seen at 4865, the support is at 4835. MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move lower. Trading recommendations The price is expected to decline towards 4835. Should that level be reached successfully the further extension towards 4800 is possible. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 10.11.2016 Euro General overview The empty EU calendar was not able to provide any market moving news. The pair was affected by external factors. The dollar fell on the back of Trump’s victory. Current situation The euro/dollar strengthened overnight, reaching its highest level since September 8th. The pair jumped to 1.1300, breaking a bunch of levels on its way upwards. After testing the level prices gave up their fresh highs and pulled back, falling to opening price. The EUR/USD pair was holding around 1.1050 post-European open, consolidating its gains. The price broke the 1.1050 level and extended its losses towards 1.0950 in the North American session. The moving averages remained neutral in the 4 hours chart. The resistance is seen at 1.1100, the support could be found at 1.1050. The MACD histogram decreased which is a sell signal. RSI stayed in a neutral area. Trading recommendations We expect the dollar to remain under pressure and lower levels will probably attract buying interest. The main buyers’ goal is the level 1.1100. Once we break above the 1.1100 level, we think that the 1.1150 level will be next. Anyway the pair is heavily oversold and needs to return its status quo which means a recovery. The EUR/USD may return to 1.1050 in the nearest-term. Pound General overview The Donald Trump's victory knocked down the US dollar, sending it to the monthly lows. Current situation The pound traded mixed on Wednesday. Prices rallied in the Asian session, reaching the monthly highs at 1.2550. However, after snapping the level the pair reversed and sharply fell to opening prices where it stayed awaiting for fresh drivers. The 200-EMA limited the pound strengthening so far. The GBP/USD just tested the moving which rejected it downwards. Prices returned below the 200-EMA and stayed between the mentioned moving and neutral 50 and 100 EMAs in the 4 hours chart. The current resistance is seen at 1.2500, the support is at 1.2400. MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory. Trading recommendations We believe that the US dollar will remain under pressure on the back of a Trump victory. Buyers may try to recover their positions, climbing to the 1.2500 level first. Yen General overview The dollar weakened across the board when Donald Trump was elected as the 45th US President. Current situation The USD/JPY pair sharply fell overnight, reaching September lows. However, the sell-off lost its legs around 101.16 where the pair turned around and rallied to the 103.50 region where the upward impetus ran out of steam, the price got under selling pressure again. However, the pair extended its gains during the North American hours. Prices moved higher, broke the level 104.00 and headed to 104.50. The pair traded around the 200-EMA ahead of NY in the 4 hours chart opening. The 200-EMA provided a solid resistance, limiting the dollar further growth. The moving averages are turning downwards, following the price. The resistance can be found at 103.50, the support comes in at 103.00. The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations If the downward tone remains intact the dollar will keep losing ground. Sellers will lead the price downwards towards the level 102.50. A technical correction towards 104.00 is expected the near-term. A daily close below the mentioned level will open the way towards 103.50. AUD/USD General overview A weak Consumer Confidence in Australia together with mixed data from China were not able to affect the AUD/USD pair which was mostly influenced by the dollar weakening on the back of Donald Trump's victory. Current situation The AUD/USD showed a strong sell-off in the Asian session on Wednesday. After refreshing monthly highs at 0.7776 the pair fell towards its fresh lows at 0.7570. The pair met a barrier around 0.7570, bouncing upwards immediately after the level test. The AUD/USD pair maintained its bid tone ahead of NY opening, struggling with 0.7675 to move higher. The moving averages are neutral in the 4 hours chart. The resistance is at 0.7675, the support can be found at 0.7650. MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the oversold area. Trading recommendations We believe the Aussie will remain in the red zone in the short-term. After breaking the current support sellers will drive the price towards 0.7625. XAUUSD General overview Gold prices got under buying pressure amid as Donald Trump shocked markets by winning the U.S. presidential race. However, Donald Trump’s winning speech afterwards comforted markets and returned risk appetite back. Current situation Gold prices were bale to strengthen last night, reaching its highest levels since September 26th. Buyers were able to push the price to 1335, but failed to hold onto gains. The pair sharply fell and stopped at 1300, coming across with buyers’ resistance. The yellow metal remained around the mentioned level, consolidating its gains ahead of the NY opening. The moving averages were neutral in the 4 hours chart. The resistance is at 1300, the support comes in at 1290 dollars per ounce. The MACD histogram grew which indicates the buyers’ strength. RSI bounced from the overbought area. Trading recommendations If bulls retain control the XAU/USD pair will grow to 1310-1315. A daily close below 1300 will put on hold bulls’ plans. In this scenario sellers will drag gold prices to 1280 through 1290 dollars per ounce. Brent General overview Oil prices faced selling pressure on yesterday’s trades as investors escaped risky-assets. Current situation Brent oil futures extended their losses in the Asian session on Wednesday. Sellers pushed prices lower, refreshing monthly lows at 44.50. The price was unable to move lower and retreated almost immediately, reversing some of its losses. Buyers led oil quotes to 46.50 where the upward momentum faded and the price slightly rolled back. The moving averages slightly changed since Tuesday. The 50 and 100 EMAs keep moving downwards while the 200-EMA is neutral in the 4 hours chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel. MACD grew which indicates the sellers’ positions weakening. RSI bounced from the oversold area. Trading recommendations Should oil prices remain below 46.50 the 45.50 support level will come back into play. Conversely, any move above the immediate resistance would increase chances of testing the 47.50 mark. DAX General overview European stocks sharply fell on Wednesday after Trump's surprise victory in the US Presidential elections. Current situation DAX index gapped lower at the open on Wednesday. Prices fell from 10500 to 10000. The mark 10000 appeared to be a local bottom, the price turned around and rallied towards the opening prices. The index manages to fill the gap in the NY session. After reaching the level 10500 the benchmark extended its gains towards 10600. The price tested the 200-EMA struggled with the 200-EMA in the 4 hours chart during the NY session. The 50-EMA broke the 100 and 200 EMAs downwards in the same chart. All moving averages keep heading lower. The resistance is seen at 10600, the support is at 10500. The MACD histogram grew which indicates the buyers’ strength. RSI is going upwards which confirms the strength of buyers. Trading recommendations Should the index recover ground and advance beyond the 10500 level, the rally can extend in the short term up to 10600. SP500 General overview Wall Street opened lower on Wednesday as Republican Donald Trump was elected 45th U.S. President. Current situation The index opened lower yesterday and was able to refresh monthly lows. The lowest price level was marked at 2028 which appeared a firm barrier to overcome. Prices bounced upwards, extending their recovery during the day. The benchmark rallied breaking a number of levels on its way upwards. The price reached the opening prices during the North American session. The S&P500 index broke the 50 and 100 EMAs and tested the 200-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are moving downwards. The resistance is seen at 2140, the support is at 2130. MACD is in the positive area. MACD has formed signal to rise. RSI is going upwards which confirms the strength of buyers. Trading recommendations The index will remain in the downward channel until it holds below 2140. If the benchmark remains below the mentioned level sellers will lead the price towards 2120 and 2110. A clear break above the channel resistance will indicate that the downward movement had completed. Buyers will lead the index to 2150 and 2160. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 09.11.2016 Euro General overview The EUR/USD strengthened ahead of the US elections. The pair ignored weak Industrial Production and Trade Balance in Germany. Markets froze, awaiting for US election results. Current situation The weak daily closing on yesterday’s trades diminished the possibility for further euro strength. The EUR/USD remained under pressure, trading around weekly lows on Tuesday. Traders tried to develop an upward movement post-European open after a brief consolidation in the Asian session. Their attempt to reclaim the 1.1050 level failed, the price just pierced the level and returned below it afterwards. According to 4 hours chart the 200-EMA which stands around the 1.1050 region acted as a resistance, holding euro attempts to grow. The moving averages (50, 100 and 200) are neutral in the same chart. The resistance is seen at 1.1050, the support could be found at 1.1000. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI is neutral. Trading recommendations We believe that the EUR/USD further strengthening is unlikely in the near term. If the pair fixates below 1.1050 sellers may drive the price lower towards 1.1000. However, a daily close above the current resistance will open the way to 1.1100. Pound General overview The pound showed mixed trades on Tuesday, growing on the back of better-then-expected Manufacturing Production report the first part of the day and weakened amid a stronger dollar later the day. Current situation Technically, the sterling remained under pressure on Tuesday, trading in a narrow range. After an Asian flat the GBP/USD tried to rally. The price jumped from 1.2400 to 1.2436 where a bullish spike faded and the pound slightly rolled back. The pair got under selling pressure ahead of the NY open and moved below 1.2400. The 4 hours chart showed that the price struggled with a neutral 200-EMA which limits its further gains. A failure here sent the market downside. The 50-EMA is crossing the 100-EMA in the same chart, both moving lines are neutral. The current resistance is seen at 1.2400, the support is at 1.2300. MACD decreased which indicates the buyers’ positions weakening. RSI is consolidating within positive territory. Trading recommendations We preserve a negative outlook for the GBP/USD pair. A close below 1.2400 may trigger losses towards 1.2300. Yen General overview According to Taro Aso (Finance Minister) the BoJ will have to respond to any markets moves if the US elections results cause an unexpected yen strengthening. Current situation The USD/JPY traded in its intraweek trading range the first part of Tuesday. The market seemed fairly balanced amid lack of market movers. Buyers consolidated their gains, holding the price in a tight range 104.30 - 104.50. The bulls jumped back on the renewed bids around 104.50 ahead of the New York session. After breaking the level prices moved upwards, approaching 105.00. The price moved away from the 50, 100 and 200 EMAs in the 4 hours chart. The resistance can be found at 105.00, the support comes in at 104.50. MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels, favoring a move higher. Trading recommendations If the upward pressure persists a move towards 105.00 is on the cards. After reaching the first target bulls will lead the pair to October highs at 105.50. USD/CAD General overview The CAD mowed lower following oil prices recovery on the one side and the US dollar strengthening on the other. Current situation The neutral phase that started last week is still intact. The price remained in a narrow range between 1.3360 - 1.3400 on Tuesday. The pair declined to the lowest range end struggling with the 50-EMA to break lower on yesterday's trades. The pair tested the 50-EMA which provided a solid support for the price in the 4 hours chart. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance is at 1.3400, the support can be found at 1.3300. The MACD histogram decreased which indicates the sellers’ growing strength. RSI is going south which confirms the current downward movement. Trading recommendations We expect the pair to remain in red figures. Should the USD/CAD pair break below the current support it may extend its weakness towards 1.3250. XAUUSD General overview Gold prices got under pressure on Tuesday on expectations of US election results. Current situation The market sentiment remained negative on Tuesday. Sellers met a solid barrier around 1280 and were unable to drive the price lower. After testing 1280 the price bounced off the level, hovering above it during the day. Gold prices stayed around the 50 and 200 EMAs in the 4 hours chart. Both lines present a strong resistance, holding its further gains. The moving averages (50, 100 and 200) are neutral in the same chart. The resistance is at 1290, the support comes in at 1280 dollars per ounce. MACD decreased which confirms the strength of sellers. The RSI indicator was holding near oversold levels during the day. Trading recommendations If a downward pressure persists the XAU/USD pair may break the current support downwards. A bearish continuation through 1280 should lead to a continued slide, with 1270 dollars per ounce as the first probable target. Brent General overview Oil prices got under pressure on Tuesday amid the U.S. election and weak Chinese imports data. Current situation Brent oil prices recovered in the Asian session on Tuesday. Prices were able to escalate to 46.50 where the upward momentum faded. After testing the level oil prices rolled back. Bears took control and moved the price lower during the North American hours. Oil prices reached 48.50 post-America open. According to the 1 hour chart the price broke the 50-EMA and tested the 100 EMA in the European session. Brent futures failed to take out the line and bounced downwards, returning to the 50-EMA region. The moving averages maintained bearish tone in the same chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel. The MACD histogram decreased which indicates the sellers’ strength. RSI moved downwards. Trading recommendations Inability to reclaim 46.50 suggests oil prices further weakness. Sellers will move prices lower to 45.50 and 44.50 dollars per barrel. DAX General overview European stocks traded mix as investors were cautious awaiting for US President race results. Besides, a weaker Chinese imports data weighed on the stocks sentiment. Current situation DAX remained near weekly highs on Tuesday. Prices tried to extend their upward trajectory but failed to maintain their bid tone. After reaching 10483 the benchmark turned around and sharply dropped to 10400, bouncing upwards tight after that. The 100-EMA limited the index recovery in the 1 hour chart. The line rejected DAX downwards. The 100 and 200 EMAs direction is downwards, while the 50-EMA is neutral. The resistance is seen at 10500, the support is at 10400. If MACD remains within the negative territory, sellers’ positions will remain strong. RIS was neutral on yesterday’s trades. Trading recommendations If bulls retain control the index may grow to 10500. A clear break below 10400 will indicate DAX further weakness towards 10350 and 10300. NASDAQ General overview Wall Street remained cautious on Tuesday as investors waited for the U.S. presidential elections outcome. Current situation The index traded neutral yesterday. Investors held the price around its recent gains. The benchmark remained in a tight range, moving back and forth during the course of the trades. NASDAQ stayed around the bearish 50-EMA, struggling with the line to move higher. All moving averages maintained their bearish slope in the 4 hours chart. The resistance is seen at 4770, the support is at 4740. The MACD histogram grew which indicates the buyers’ growing strength. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations If the 4770 level breaks, the price may fall further that should send this market looking for the 4740 and 4715 levels. A close above the level will trigger gains towards 4800. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 07.11.2016 Euro General overview According to ADP survey the U.S economy added less jobs than expected, Unemployment Rate coincided with the forecast while Average Hourly Earnings slightly grew. The market was little impressed by the latest U.S. data as a result the EUR/USD remained onto its recent highs. The dollar remained under pressure amid political uncertainty in the country. Current situation The EUR/USD traded around the 1.1100 resistance area during the European hours on Friday. The price moved lower and hit a low of 1.1079 in the middle of the European session. However, this move lacked momentum and prices returned to 1.1100. The pair extended its gains in the NY session. The 4 hours chart shows that the euro keeps hovering above the 200-EMA. The 200-EMA is neutral, while the 50 and 100 EMAs are heading higher with the 50-EMA surpassing the 100-EMA upwards. The resistance is seen at 1.1150, the support could be found at 1.1100. MACD and RSI present modest bearish slopes. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area, heading south. Trading recommendations Technical indicators are now giving bearish signals. The price may retreat from its weekly highs and move towards its immediate support at 1.1050. After breaking above 1.1100 the EUR/USD may extend its gains towards 1.1150. Pound General overview According to the High Court’s decision the UK Government needs to get Parliamentary approval before starting the UK’s exit from the EU. This news supported the pound, boosting its upward momentum. Current situation The pound continued reversing its losses, staying around 1-month high on Friday. GBP bulls met a barrier at 1.2500, struggling hard to break it during the day. Buyers managed to break the level in the North American session. The GBP/USD pair trended higher, approaching 1.2600. The price broke the bearish 200-EMA and headed away from the moving. The 50 and 100 EMAs are slowly turning upwards in the 4 hours chart. The current resistance is seen at 1.2600, the support is at 1.2500. The MACD histogram grew which indicates the buyers’ strength. The RSI indicator is near overvalued territory, favoring a new move higher. Trading recommendations GBP/USD may have some difficulties to go any higher. Taking into account that the pair is overbought we do not exclude a correctional phase towards 1.2350. On the other hand, a solid close above 1.2500 will increase the current bid tone, sending prices towards 1.2600. Yen General overview The USD/JPY pair was able to partly recover on Friday when a renewed risk-off wave hit the American and European stocks. Current situation The pair continued to stay in negative ground, trading around Thursday’s lows on Friday. USD/JPY presented a modest bearish tone as the price got under selling pressure on any up-move above 103.00. USD bulls encountered resistance around 103.20 where the 200-EMA lies. The 200-EMA rejected all bulls’ attempts to develop a recovery, holding prices under pressure. The 50 and 100 EMAs accelerated their decline, while the 200-EMA presented a modestly bearish slope. The resistance can be found at 103.50, the support comes in at 103.00. Technical indicators are now giving weak bearish signals. MACD grew which indicates the sellers’ positions weakening. The RSI indicator continues consolidating within undervalued levels. Trading recommendations If the pair manages to consolidate above 103.00 the next target for this pair is the resistance level of 103.50. A daily close below the level might force the USD/JPY to resume its downward trajectory. AUD/USD General overview The Aussie weakened right after the RBA decision to keep Inflation Expectations around 1.5-2.5%. The Australian Bureau of Statistics expects to keep inflation on low levels for a while, planning to rise it lately. Current situation The AUD/USD remained under pressure around 0.7675, bouncing from the level on any attempt to the upside. The level seems to be well defended by sellers who tried to push the price lower at the beginning of the New York session. The AUD sharply dropped and tested 0.7650, however, this move did not have a leg, the price returned to the 0.7675 region. The pair broke the 50-EMA and tested the 100-EMA in the 1 hours chart. The 100-EMA rejected the price above the 50-EMA. The moving averages maintained their bullish slope in the same chart. The resistance is at 0.7675, the support can be found at 0.7650. MACD decreased which indicates the buyers’ positions weakening. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations If bears take over the market the price will decline to 0.7650. A move lower will open the way for 0.7625 testing. XAUUSD General overview Gold prices remained around weekly highs as uncertainty over the US Presidential election results supported the yellow metal. Traders were cautious ahead of the U.S. data and refrained from creating fresh positions on Friday. Current situation Gold prices extended their side trading, staying around fresh weekly highs. The XAU/USD traded in a tight range between 1295 - 1305 dollars per ounce. The yellow metal remained above the moving averages in the 4 hours chart. The 200-EMA is turning upwards, while the 50 and 100 EMAs accelerated their growth. The 50-EMA crossed the 100-EMA upwards in the 4 hours chart. The resistance is at 1310, the support comes in at 1300 dollars per ounce. MACD remained at the same level which confirms the strength of buyers. The RSI indicator continues consolidating within overbought levels. Trading recommendations In the scenario where buyers keep control the pair moves towards 1310. However, the yellow metal is oversold and we do not exclude a short-term correction to 1290 dollars per ounce. Brent General overview Crude oil prices remained around recent lows as supply glut persisted on Friday. Current situation Crude oil futures remained under pressure. After a brief recovery during Asian session sellers pushed the price lower on Friday. Oil prices fell to 45.50 dollars per barrel where they spent the rest of the day. The price is below the moving averages in the 4 hours chart. The 200-EMA is neutral/bearish while the 50 and 100 EMAs are going downwards. The 50-EMA surpassed the 100-EMA in the same chart. The resistance is at 46.50, the support comes in at 45.50 dollars per barrel. MACD decreased which confirms the strength of sellers. The RSI oscillator is consolidating within negative area. Trading recommendations The level 45.50 limited Bren oil further losses. A cut through here will open the door for a move lower towards the 44.50 level DAX General overview European stocks bearish trend remained intact on Friday. Growing uncertainty over the results of the US elections continued to weigh on market sentiment. Current situation DAX index was in a recovery mode on Friday. The index traded mixed with half the exchanges trading higher and the other half lower. The index escalated to 10282 where the upward momentum faded, the price dropped back to 10200. The price remained below the moving averages in the 4 hours chart. The moving averages are turning downwards. The resistance is seen at 10300, the support is at 10200. The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator is consolidating within negative are. Trading recommendations We believe the DAX is going to recover. Buyers may lead the index towards 10350. S&P500 General overview Wall Street closed in red figures as Consumer Goods and Technology sectors dragged shares lower. Current situation The downwards trajectory remained intact on Friday. The index stayed around monthly lows at 2080. Buyers made an attempt to push the price higher and were able to reach the 2090 level. However the bullish spike faded soon and the benchmark returned to 2080. The price remained below the moving averages which extended their decline in the 4 hours chart. The resistance is seen at 2090, the support is at 2080. The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator is consolidating within negative are. Trading recommendations S&P500 is having difficulties to go any lower. If the support 2080 holds prices will recover to 2090. Alternatively sellers will push the price to 2070. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 04.11.2016 Euro General overview The dollar was able to reverse some of its losses on Thursday. The dollar strengthened due to profit taking, the EUR/GBP sharp drop and decline of election concerns. Current situation The trend is objectively bullish as bulls have the ball now. The EUR/USD pair remained in an ascending channel on Thursday, hovering around 1.1100 in the European session. The pair became slightly bearish post-European open when the price retreated from the recent highs. Sellers pushed the euro below 1.1100 trying to regain control. The pair edged lower and approached the level 1.1050 at the beginning of the New York session. The moving averages are turning upwards in the 4 hours chart. The resistance comes in at 1.1100, the support lies at 1.1050. MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is within the overbought area. Trading recommendations A clear break below the lower limit of an ascending channel 1.1050 will indicate that the upward movement is over, then the following downward movement could bring price to 1.1000 area. A further strengthening is possible if the price moved above 1.1125. Pound General overview A better-than-expected UK’s Services PMI supported the pound on Thursday. Later the day sterling extended its rally when the BoE kept its rates on hold. Current situation The GBP/USD opened on a positive note and remained in bulls' hands during the day. The pound was in the middle of another bullish development during the European hours. Traders pushed the pound higher, the pair now seems to be heading towards its immediate resistance near 1.2500. After breaking the 100-EMA the price continued advancing north towards the 200-EMA and reached the moving ahead of the NY opening. The current resistance is seen at 1.2500, the support is at 1.2400. MACD is in the positive area. The MACD histogram grew which indicates the buyers’ strength. RSI is within the overbought area. Trading recommendations If the bullish views remain intact the pair might extend its recovery towards 1.2500. Yen General overview The yen was has been in demand this week as a safe-heaven currency. A weaker dollar supported the demand for the Japanese currency. Current situation The USD/JPY remained near an oversold critical line. The pair is still in a short-term descending channel. The price slightly recovered in the Asian session and extended its gains during the European hours on Thursday. The ongoing recovery could be attributed to some profit taking from sellers after the recent sharp decrease. Buyers pushed the price towards its immediate resistance 103.50, reversing minor part of its recent losses. The USD/JPY pair approached the 200-EMA ahead of NY opening. The 200-EMA is slowly turning downwards, while the 50 and 100 EMAs are already moving lower. The resistance can be found at 103.50, the support comes in at 103.00. MACD is in the negative area. MACD decreased which indicates the sellers’ strength. RSI is within the oversold area. Trading recommendations We expect the dollar further recovery and its test of 103.50. On the other side, a return below 103.00 will open the door for a move lower towards the 102.50 level. USD/CAD General overview The Canadian dollar was neutral against its American counterpart on Thursday. The dollar remained weak after the disappointing US labor data. Moreover, oil price undertone keeps weighing on CAD. Current situation The neutral phase that started last week is still intact. The USD/CAD is staying around its weekly lows around 1.3360. The price moved back and forth between 1.3400 and 1.3350. The moving averages are neutral in the 1 hour chart. The pair was going lower until it met a barrier around the 200-EMA. The moving rejected the price which returned to the 50 and 100 EMAs region. The resistance is at 1.3400, the support can be found at 1.3330. MACD indicator is at the centerline. If the histogram remains within the positive territory, that will indicate buyers’ growing strength. If MACD gets into the negative area sellers will take control over the market. The RSI is within neutral area. Trading recommendations We will preserve bullish outlook as long as the price holds above it 1.3330. XAUUSD General overview Gold prices remained mostly positive after Fed’s decision to keep rates unchanged. The uncertainty on uncertainty over the U.S. election outcome keeps weighing on the dollar. Current situation Gold prices surged on Thursday morning and were able to break the resistance 1300 when the price suddenly turned around and sharply dropped. The yellow metal moved towards 1290 and broke the level in the middle of the European session. After breaking the level prices moved lower and tested the mark 1285. The XAU/USD pair approached the neutral 200-EMA in the 4 hours chart. The 50 is crossing the 100 EMA upwards, both lines are going north. The resistance is at 1300, the support comes in at 1290 dollars per ounce. MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI left the overbought area and moved downwards. Trading recommendations If the bearish tone prevails the XAU/USD pair will move towards 1280 dollars per ounce. Brent General overview Oil prices recovered on Thursday following the news of an attack on a Nigerian oil pipeline. Current situation Oil prices enjoyed mixed trades on Thursday. Brent oil gapped upwards at the open and the price continued to grow afterwards. Crude oil futures were able to reach the level 47.50 which stopped their further recovery post-European opening. The price slightly rolled back afterwards and spent the rest of the day a few pips below the level 47.50. The 200-EMA is still going upwards, while the 50 and 100 EMAs a moving downwards. The 50-EMA is crossing the 200-EMA downwards. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel. MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. The RSI is in the oversold area. Trading recommendations All eyes are right now at the resistance level 47.50 dollars per barrel. A break above the level will ease the downward pressure, opening the way towards 48.50. If the level holds oil prices will extend their losses towards 46.50 and 45.50 dollars per barrel. DAX General overview European stocks remained neutral on Thursday after a two-day decline. The latest corporate earnings reports and growth of banking sector supported the Eurozone stocks. Current situation The index gapped higher at the open on Thursday. However, the index failed to extend its gains and edged lower immediately after the gap. DAX was under pressure during the night session and slightly recovered post-European open. The 10400 level is a current barrier which limits DAX further recovery. The price continues developing well below the moving averages. The moving averages extended their decline in the 4 hours chart. The resistance is seen at 10400, the support is at 10300. The MACD decreased which confirms the strength of sellers. RSI oscillator is in oversold area. Trading recommendations Buyers are making attempts to break through 10400. If they succeed we will see the index rise towards 10500 resistance area. NASDAQ General overview American stocks traded mixed on Thursday after disappointing Initial Jobless Claims report. Moreover, the stocks are under pressure amid a growing uncertainty surrounding the US presidential race outcome. Current situation The index preserved its undertone, holding onto recent lows. NASDAQ made an attempt to recover. Prices grew from 4700 towards 4740. However, the benchmark was able to reach the mark 4730 when the upward impulse faded, the price returned to the 4700 region. The moving averages maintained their bearish slope in the 1 hour chart. The price almost reached the 50-EMA when the index came across a selling pressure. The resistance is seen at 4740, the support is at 4700. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI oscillator is within oversold area. Trading recommendations The index now seems to be heading towards its immediate resistance near 4740. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 03.11.2016 Euro General overview The dollar fell to the three-week low amid growing uncertainty over the US presidential election. The mixed reports from Germany slowed down the further euro growth. Current situation The common currency extended its near-term bullish momentum yesterday. The EUR/USD found a strong resistance at the level of 1.1100 which slowed down its further strengthening. The pair traded at a fresh 3-week high, just below the 1.1100 level during the European hours. The price broke the 200-EMA and trended north in the 4 hours chart. The 50, 100 and 200 EMAs are turning upwards in the same timeframe. The resistance comes in at 1.1100, the support lies at 1.1050. The MACD histogram grew which indicates the buyers’ strength. The RSI indicator continues consolidating within overbought levels. Trading recommendations If the positive momentum remains intact the euro next stop could well be at the 1.1100-1.1150 region. Pound General overview The pound strengthened on the back of the positive Construction PMI in the UK on Wednesday. Current situation Fresh buying pressure around the British Pound boosted GBP/USD to fresh highs. Traders pushed the sterling higher on Wednesday. The pair was able to escalate to 1.2300 where the upward momentum faded for a while. The pound broke the level ahead of the NY opening. The moving averages keep heading lower in the 4 hours chart; however, the 50-EMA is becoming more neutral. The price bounced off the 50-EMA and headed towards 1.2300, testing the moving ahead of the NY opening. The current resistance is seen at 1.2400, the support is at 1.2300. MACD has formed signal to rise. RSI is going upwards which confirms the strength of buyers. Trading recommendations We await a break above 1.2300 to trigger another leg higher. A daily close above 1.2300 would risk 1.2400. Yen General overview The dollar remained under pressure on Wednesday as election uncertainty weighed on the markets. Current situation The pair failed to retake the 105.00 level. The price encountered a strong sellers’ resistance around the level which caused its sharp decline. The pair remained in red figures on Wednesday as the downside momentum prevailed. Sellers pushed the price lower from 104.00 towards 103.00. The USD/JPY pair broke 103.50 on its way to 103.00. The price broke the 100-EMA and tested the 200-EMA in the 4 hours chart. The moving averages are turning downwards. The resistance can be found at 103.50, the support comes in at 103.00. MACD decreased which confirms the strength of sellers. The RSI indicator was holding near oversold levels, favoring a new move lower. Trading recommendations If the downward pressure persists the 102.50 level will come back to the radar. We cannot rule out the chance that the USD/JPY pair would try to get to the resistance region 103.50-103.80. NZD/USD General overview The kiwi strengthened due to positive New Zealand’s labor market report. Besides, the latest inflation expectation report supported the NZD as well. Current situation The NZD/USD pair maintained its strong bid tone on Wednesday. Buyers were able to push the price higher to 0.7300 through 0.7250. The price hovered above the moving averages in the 4 hours chart. The 50 and 100 EMAs are turning upwards, while the 200-EMA keeps heading lower. The resistance is at 0.7300, the support can be found at 0.7250. MACD is within the positive area. RSI moved upwards and reached the overbought levels. Trading recommendations The NZD/USD pair needs to break 0.7300 to retain its bullishness for further gain to 0.7350. Alternatively, when we break the level 0.7250 the support 0.7200 comes back into play. XAUUSD General overview The uncertainty around US presidential election retuned risk-aversion to the marker increasing demand for the safe-heaven assets like gold. Current situation Gold prices extended their gains on Wednesday, breaking out of the ascending channel pattern. The pair broke 1290 dollars per ounce and approached the level 1300 at the beginning of the North American session. The upward momentum had run out of steam by the moment the price approached the level. The price remained well above the moving averages in the 4 hours chart. The moving averages are turning north. The resistance is at 1290, the support comes in at 1280 dollars per ounce. The MACD histogram grew which indicates the buyers’ strength. RSI is in the overbought area. Trading recommendations A break above 1300 dollars per ounce will strengthen buyers’ positions. In this potential scenario the XAU/USD may reach 1310. Brent General overview Oil prices edged lower on Wednesday after surprising U.S. stocks growth which underlined the market's supply glut. Current situation After a short-lived recovery on Tuesday Brent oil prices turned lower, extending their losses on Wednesday. The price remained in a descending channel, trading close to its lower trendline line. Sellers broke the 48.50 and tested the 47.50 on Wednesday's trades. The price remained below the moving averages in the 4 hours chart. The 50 and 100 EMAs are moving lower, the 200-EMA is just turning downwards. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel. MACD remained at the same level which confirms the strength of sellers. The RSI is within oversold levels. Trading recommendations We will place short orders only if we see a solid move below 47.50. However, we consider that scenario as an alternative as oil prices are heavily oversold. We expect a near-term correction caused by profit-taking. DAX General overview European stocks moved lower on the growing concerns over the U.S. presidential elections. Negative A.P. Moller-Maersk earnings report weighed on the stocks as well. Current situation DAX index gapped higher at the open on Wednesday. However the price did not extend a bid tone and immediately turned lower after the gap. The index filled the gap in early Europe trades. Sellers moved prices lower towards 10400 and tested the level in the North American session. The DAX index stayed below the moving averages (50, 100 and 200) during the day. The moving averages are turning downwards. The resistance is seen at 10500, the support is at 10400. The MACD indicator continues consolidating within oversold levels. The RSI indicator is near undervalued territory, favoring a new move lower. Trading recommendations A move below 10400 will open the way towards 10350. S&P500 General overview American stocks traded lower on Wednesday. The uncertainty over the outcome of the upcoming U.S. presidential election made traders seek safe-haven assets. Current situation The index remained under pressure, staying around 2100 during the day. The price briefly recovered during the European trades and turned lower in early American trades. The 50, 100 and 200 EMAs extended their bearish slope in the 4 hours chart. The price remained well below the moving averages. The resistance is seen at 2110, the support is at 2100. MACD remained at the same level which confirms the strength of sellers. The RSI is within oversold levels. Trading recommendations If the index holds its bearish tone S&P500 will keep heading lower. A clear break below 2100 will send the price towards 2090. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 02.11.2016 Euro General overview The U.S. dollar weakened across the board ahead of Fed, U.S. jobs data and election. Current situation The euro recovered its lost ground on Monday and maintained its bid tone on Tuesday. After a brief phase of consolidation seen during the Asian session the EUR/USD pair accelerated its growth and headed towards 1.1000. The EUR/USD pair broke the level post-European open. The 50-EMA is turning upwards, the 100 and 200 EMAs maintained their decline in the 4 hours chart. The price touched the 200-EMA which stopped its upward momentum in the mentioned timeframe. The resistance comes in at 1.1050, the support lies at 1.1000. The MACD histogram grew which indicates the buyers’ strength. The RSI oscillator stayed near overbought area levels, favoring a new move higher. Trading recommendations We maintain short-term bullish outlook for the pair. The euro might extend its gains towards 1.1050. Pound General overview UK's Manufacturing PMI which came in below our estimates failed to support the pound. However, the British pound maintained its bid tone after Mark Carney's announcement to remain the BoE's governor until June 2019. Current situation The sterling strengthened on Monday and preserved its recent gains on Tuesday, staying around trading range’s upper limit. Buyers failed to reclaim the 1.2300 level, the price rolled back after touching the resistance. The pair spent the rest of the day above the 1.2200 level. The moving averages keep heading lower in the 4 hours chart. The price broke the 50-EMA and met a barrier around the 100-EMA which stopped its bid momentum. The current resistance is seen at 1.2300, the support is at 1.2200. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI is within the overbought area. Trading recommendations If bulls preserve their control the GBP/USD pair will take out the level 1.2300. A stronger dollar will ease the upward momentum, sending the pound below 1.2200. Yen General overview As expected the Bank of Japan left its monetary policy on hold. Besides, the regulator cut its inflation forecasts. The published news slightly impacted the pair. Current situation The upward momentum seems to have run out of steam. The USD/JPY gave up its recent highs, trading around the 105.00 major level during the European hours. Sellers seem to be guarding 105.00 as the price bounces from the level on every attempt to the upside. The moving averages are turning lower in the 1-hour chart. The price broke all moving averages and moved lower in the same chart. The resistance can be found at 104.50, the support comes in at 104.00. MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is within the oversold area. Trading recommendations A break below 104.50 suggests further weakness of the USD/JPY pair. Sellers may lead the price to the 104.50 handle where USD/JPY may bounce off. AUD/USD General overview The Aussie strengthened when the RBA kept its rate unchanged at 1.5% on Tuesday. The regulator also predicted the Australian economy to grow near potential over the next year. Current situation The Aussie rallied against the U.S. dollar on Tuesday. The price jumped from 0.7600 to 0.7675. After testing the level 0.7675 the upward momentum faded and the price rolled back. The price broke 0.7625 and 0.7650 on its way upwards. The 50, 100 and 200 EMAs are turning upwards in the 1 hour chart. The 50-EMA crossed the 100 and 200 EMAs upwards in the same chart. The resistance is at 0.7675, the support can be found at 0.7650. The MACD histogram grew which indicates the buyers’ strength. RSI is within the overbought area. Trading recommendations The pair is heavily overbought. We expect some profit taking from bulls after the recent rally. The price may roll back to 0.7650. XAUUSD General overview Gold prices moved higher on Tuesday ahead of the Fed meeting and amid uncertainty over the U.S. presidential elections. Current situation Gold prices had a positive day on Tuesday. The pair started the day around 1275 dollars per ounce. Buyers pushed the prices to the 1280 level first which was not able to resist pressure of bulls and was immediately broken. The yellow metal extended its gains after the level break, advancing towards 1290 ahead of the NY opening. The 50 and 100 EMAs are turning upwards in the 4-hours chart, the 200-EMA is heading lower. The resistance is at 1290, the support comes in at 1280 dollars per ounce. The MACD histogram grew which indicates the buyers’ strength. The RSI is in the overbought area. Trading recommendations We maintain a bullish outlook in the short term. The XAU/USD pair now seems to be heading towards its immediate resistance near 1290. Brent General overview Brent oil futures reverted their recent losses, staying around one month low on Tuesday. Growing skepticism over the ability of OPEC to reach an agreement on an output freeze weighed on oil prices. Current situation Oil prices gapped higher at the open on Tuesday. The price jumped from 48.31 to 48.58 through the level 48.50 dollars per barrel. Brent prices were able to extend their gains after the gap. However, the upward impetus soon faded and the price returned to the broken level. The 50 and 100 EMAs extended their decline in the 4 hours chart. The 200-EMA maintained its bullish slope in the same timeframe. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel. MACD remained at the same level which confirms the strength of sellers. The RSI remained within oversold area. Trading recommendations If the bullish scenario prevails the price might extend its recovery towards 49.50. A break of 48.50 may trigger the next leg of move lower towards 47.50. DAX General overview European stocks edged lower when Shell and BP earnings reports headed different ways. Shell shares added 3,1%, while BP shares fell. Current situation DAX index moved lower on Tuesday. The price had a sharp drop below 10700 in the Asian session. Prices weakened towards 10600 during the European hours and broke the level in early US trades. The index extended its losses after the break advancing towards 10500. The 50 and 100 EMAs extended their growth in the 4 hours chart, the 200-EMA is neutral. The price broke the 50 and 100 EMAs and approached the 200-EMA at the beginning of the New York session. The resistance is seen at 10600, the support is at 10500. MACD is in the negative area. The indicator decreased which confirms the strength of the sellers. RSI oscillator headed towards the oversold area. Trading recommendations As the most probable scenario, we consider further moving downwards towards the level at 10500. NASDAQ General overview Current situation The index had a negative day on Tuesday. The price stayed in red figures, maintaining its bearish tone during the day. Sellers broke the level 4800 post-European open and approached 4770 in the NY session. Prices bounced off the 50-EMA in the 1 hour chart and headed away from the moving. The 50 and 100 EMAs accelerated their decline, crossing the moderately bearish 200-EMA in the mentioned timeframe. The resistance is seen at 4800, the support is at 4770. MACD decreased which confirms the strength of sellers. RSI moved towards the oversold area. Trading recommendations We suppose the index will go to 4770 first. Having overcome the first target the price might advance towards 4740. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 01.11.2016 Euro General overview The dollar recovered on Monday after a sharp drop last week caused by renewed FBI interest to Hillary Clinton. Current situation The euro gave up its recent gains and moved lower on Monday. Sellers pushed the price from 1.0992 towards 1.0950 where the pair met a barrier and slowed down its decline for a while. The EUR/USD broke the level ahead of NY opening and moved towards 1.0900. The moving averages extended their decline in the 4 hours chart. The price bounced from the 100-EMA and moved towards the 50-EMA. The resistance comes in at 1.1000, the support lies at 1.0950. MACD is in the positive area. MACD decrease which indicates the buyers’ positions weakening. The RSI moved downwards. Trading recommendations The bearish trend remained intact. A downtrend will start as soon, as the pair drops below the support level 1.0900. Pound General overview According to the latest news Mark Carney will serve a full term through 2021. The news slightly supported the sterling which decline afterwards. The published statistics did not support the pound which continued to move lower. Current situation The GBP/USD remained in a flat on Monday. The price moved lower from last week high and returned into the range. The pound erased the Friday’s recovery gains amid renewed dollar buying interest. The moving averages keep heading lower in the 1 hour chart. The price broke the 50 and 100 EMAs and advanced lower in the same chart. The current resistance is seen at 1.2200, the support is at 1.2100. MACD is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI remained close to the oversold area. Trading recommendations If the downward pressure persists we cannot rule out the chance that the pair would try to retake the level at 1.2100. If succeeded, sellers will push the GBP/USD pair towards 1.2050. Yen General overview The BoJ started its two-day meeting on Monday. Markets expect the regulator to maintain its policy unchanged. The dollar remained around multi-week highs amid uncertainty around the US election. Current situation The USD/JPY remained in bulls' hands on Monday. The price trended higher, reversing some of its last week losses. Traders pushed the price upwards towards 105.00 which appeared a strong barrier on its way upwards as a result the level slowed down the USD/JPY recovery. The moving averages maintained their bullish slope. The price broke the 50-EMA and tested the 100-EMA in the 1 hour chart. The pair failed to move lower and bounced upwards from the 100-EMA in the same chart. The resistance can be found at 105.50, the support comes in at 105.00. The MACD histogram grew which is a buy signal. RSI remained within the overbought levels. Trading recommendations If the current buy mode persists the pair might extend its recovery towards 105.50. A daily close below 105.00 will ease the upward momentum. The pair may weaken towards 104.50. NZD/USD General overview The kiwi is neutral ahead survey of inflation expectations which will be published this Wednesday. Current situation The NZD/USD remained near last week lows on Monday. The pair spent the day above the 0.7120 level. The moving averages are neutral in the 1 hour chart. The currency pair stayed above the 200-EMA which provided a solid support for the price. The resistance is at 0.7200, the support can be found at 0.7120. MACD remained at the same level which confirms the strength of sellers. RSI remained within neutral area. Trading recommendations If the bearish scenario prevails we will be selling the pair if the price drops below 0.7050. XAUUSD General overview Gold prices moved lower on Monday staying around 4-week high ahead of the Fed meeting results and amid rising uncertainty over U.S. election. Moreover, a growing dollar weighed on the yellow metal quotes. Current situation The XAU/USD pair opened on a weaker note on Monday. The yellow metal failed to extend its gains after Friday’s rally. Last week upward momentum lost is strength and the XAU/USD pair turned to the downside. The price approached the level 1270 dollars per ounce in the middle of the European trades and stayed there ahead of the NY session. Buyers failed to reclaim the 200-EMA which rejected the pair downwards. The price moved towards the 100-EMA and stopped a few pips above the moving. The resistance is at 1280, the support comes in at 1270 dollars per ounce. MACD remained at the same level which confirms the strength of sellers. RSI remained within oversold area. Trading recommendations If the downward pressure persists the price will move below 1270 dollars per ounce. A successful break below the level will open the way towards 1260. If the 1270 level holds gold prices will return to 1280 dollars per ounce. Brent General overview Oil prices traded lower on Monday as OPEC members failed to agree on measures to freeze its output. Current situation Brent oil futures held on their recent lows during the Asian session on Monday. Prices gapped lower at the open and filled the gap Post-European opening. Brent futures spent the first part of the day around the level 49.50 dollars per barrel and faced further downside pressure ahead of the NY opening. The price made a good break below 49.50 and advanced towards 48.50 where the downward impetus faded. The 50 and 100 EMAs are pointing lower in the 4 hours chart. The 200-EMA maintained its bullish slope in the same chart. The price broke the 200-EMA and continued moving lower. The resistance is at 49.50, the support comes in at 48.50 dollars per barrel. MACD decreased which confirms the strength of the sellers’. The RSI is in the oversold area. Trading recommendations Brent futures met a barrier around 48.50 dollars per barrel. We await a break below the level to trigger another leg lower. Sellers may drag the price towards 48.00 and lower to 47.50. DAX General overview European stocks traded lower on Monday as Oil & Gas sector decline weighed on the stocks. Current situation The index gapped higher at the open on Monday and filled the gap Post-European opening. Prices spent the day in the middle of the tight range. The 100 and 200 EMAs are neutral in the 1 hour chart, the 50-EMA is pointing lower. The price tested the 50-EMA, but failed to move higher. The index got under selling pressure on any up-move towards 10700. The resistance is seen at 10700, the support is at 10600. MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. RSI is neutral. Trading recommendations If DAX remains in red figures we will be selling the benchmark if the price drops below 10600. S&P500 General overview American Stocks remained neutral on Monday as traders were cautious ahead of the Fed monetary policy decision. Investors also kept an eye on developments in the U.S. presidential election and particularly to Hillary Clinton probe. Current situation The index traded mixed on Monday. Prices moved higher in the Asian session, as a result the benchmark was able to erase its previous losses. The market switched the tone to bearish when buyers failed to reclaim the level 2130. The S&P500 turned around and moved lower. The price stopped a few pips above 2120 where it spent the rest of the day. The moving averages (50, 100 and 200) are pointing lower in the 4 hours chart. The price bounced downwards in the 1 hour chart and moved lower. The resistance is seen at 2130, the support is at 2120. MACD is in the negative area. The histogram remained in the same level which confirms the strength of the sellers’. RSI approached the oversold area. Trading recommendations We suppose the index will go to 2120 first. Having overcome the first target the price might advance towards 2110. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 31.10.2016 Euro General overview Investors were cautious ahead of the US GDP and did not hurry to trade on Friday. The weak Eurozone data weighed on the euro. Despite the positive GDP the EUR/USD remained under pressure. The dollar fell by the end of Friday trades when FBI discovered new emails relating to Hillary Clinton case. Current situation The price modestly recovered during the past Asian session and traded slightly above 1.0900 during the European hours on Friday. The pair reached the mark 1.0926 and immediately rolled back Post-European open. The pair rallied upwards in the middle of the European session. The EUR/USD broke 1.0950 and advanced towards 1.1000. The moving averages extended their decline in the 4 hours chart. The price broke the 50-EMA and tested the 100-EMA in the same chart. The resistance comes in at 1.1000, the support lies at 1.0950. MACD moved into the positive area. MACD grew which indicates the sellers’ positions weakening. The RSI moved upwards. Trading recommendations The pair now seems to be heading towards its immediate resistance near 1.1000. If the upwards pressure persists buyers will break the level. After broking the level bulls may lead the price towards 1.1050. We do not exclude a roll back towards 1.0950. Pound General overview There were no major events on the UK schedule on Friday. The stronger-than-expected GDP in the UK supported the pound. Meanwhile the dollar slightly weakened on the back of the mixed U.S. statistics. Current situation The pound remained under pressure in its intraweek trading range. The price stayed below the level 1.2200 on Friday. Sellers pushed the price lower and tested the level 1.2100 later the day. After testing the level the GBP/USD pair bounced from it and returned to the 1.2200 region. The moving averages keep heading lower in the 4 hours chart. The current resistance is seen at 1.2200, the support is at 1.2100. MACD is in the negative area. MACD decreased which confirms the strength of the sellers’. RSI is within the oversold area. Trading recommendations Despite a recovery the price returned some of its losses by the end of the week. Should the GBP/USD break the level 1.2200 the pair may extend its gains towards 1.2250. Sellers might try to push the prices lower. Their primary goal is the level 1.2100. Yen General overview The yen traded steady on Friday following Japanese consumer prices data which came in largely as expected. Current situation USD/JPY edged higher on Friday. Buyers tested the level 105.50, but failed to break it. The price bounced downwards after testing the mark. Sellers broke 105.00 and tested the level 104.50. The moving averages are still pointing higher in the 4-hours chart. The resistance can be found at 105.00, the support comes in at 104.50. MACD is in the positive area. MACD remained at the same level which confirms the strength of buyers. RSI is in the overbought area. Trading recommendations Sellers seem to have returned in the game. If the price maintains its bearish tone sellers will break 104.50 and will break through 104.00. AUD/USD General overview The Aussie traded lower on Friday as home sales in Australia did not meet traders’ expectations and moved from the previous month's pace. Current situation The price maintained its bearish tone in the European session on Friday. The AUD/USD tested the level 0.7570 in the middle of the European trades. After testing the level the pair continued heading lower and refreshed the weekly low at 0.7562. However, the downward pressure eased right after the test, the AUD rolled back and erased a minor part of its losses. The price broke the 200- EMA on its way downwards, but soon returned back. The 100 and 200 EMAs are neutral, the 50-EMA is turning downwards in the 4 hours chart. The resistance is at 0.7600, the support can be found at 0.7570. MACD is in the negative area. MACD decrease which indicates the buyers’ positions weakening. The RSI is within oversold area. Trading recommendations We recommend going short with the first target – 0.7570. When the price consolidates below the first target it may go to the level 0.7540. XAUUSD General overview Gold prices strengthened as disappointing Initial Jobless Claims and Durable Goods releases rose uncertainty over the timing of future rate hike Current situation The bearish scenario prevailed the first part of the day. Gold prices met a barrier in the 1270 region which limited its further gains. Gold futures bounced from the level and moved lower, staying around 1265 ahead of the US opening. The yellow metal bounced from 1265 in the New York session, the price jumped to 1270 dollars per ounce. After breaking the level gold prices tested 1280. The yellow metal broke the 50 and 100 EMAs in the 4 hours chart. The 50 and 100 EMAs are neutral, the 200-EMA kept heading lower. The resistance is at 1280, the support comes in at 1270 dollars per ounce. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. Trading recommendations The pair now seems to be heading towards its immediate resistance near 1280. After breaking 1280 the level 1290 will come back to the radar. Brent General overview Brent futures traded lower on Friday due to uncertainty over OPEC output agreement. Current situation Brent oil futures bearish trend remained intact. Oil prices remained in a near-term descending channel and stayed around 50.50 in the European session on Friday. Brent futures tried to recover after a sharp drop on Thursday. However, the recovery was weak and was caused by profit taking. Oil prices moved lower ahead of the North American session and tested the level 49.50 by the end of the trades. The 100 and 50 EMAs are moving downward, the 200-EMA is pointing higher. The resistance is at 50.50, the support comes in at 49.50 dollars per barrel. MACD is in the negative area. MACD declined which confirms the sellers’ positions strengthening. The RSI is within oversold area. Trading recommendations We suppose the Brent oil prices will go to 49.50 first. Having overcome the first target the price might advance towards 48.50. DAX General overview European stocks closed lower on Friday, reaching one week low. According to corporate earnings reports Novo Nordisk Gemalto shares lost about 10%. Current situation DAX gapped lower at the open and continued moving lower after the gap on Friday. The index extended its losses towards 10600 during the day. The 50-EMA crossed the 100-EMA downwards in the 4 hours chart. The 100 and 200 EMAs are neutral, while the 50-EMA is heading south. The resistance is seen at 10700, the support is at 10600. MACD is in the negative area. MACD declined which confirms the sellers’ positions strengthening. The RSI is within oversold area. Trading recommendations As the most probable scenario, we consider further moving downwards towards the level at 10600. NASDAQ General overview Despite the positive GDP Q3 the U.S shares closed the week bearish. FBI reopened Hillary Clinton probe after finding new emails related to her closed investigation. Current situation Sellers continued to dominate in the market. NASDAQ index broke the level 4800 on its way downwards. After breaking the level the index continued to lose its value and refreshed the weekly low at 4788. After setting a new low the price rolled back in the 4835 region. However, buyers failed to stay there and the quotes returned back to 4800. The moving averages are neutral in the 4 hours. The resistance is seen at 4835, the support is at 4800. MACD is in the negative area. The histogram remained in the same level which confirms the strength of the sellers’. RSI oscillator is within oversold area. Trading recommendations The level 4800 seems the next probable bearish target. The level 4770 is the second sellers’ target. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

Switching clock to winter time in EU countries Dear traders and partners Please pay your attention that Daylight Saving Time (Summer Time) ends on the night of 29/30 of October 2016 and European countries will adjust the clocks backwards. United States will also turn to winter time on the night of 5/6 of November 2016. As a result, all American instruments and FOREX currencies will be available for trading at 23:00 terminal time on the night of 29/30 October. Therefore, the trades on the mentioned instruments will be closed an hour earlier in accordance with the European time. Trading on American exchange instruments and FOREX currencies will revert to usual terminal time on the 7th of November. Trading schedule change applies to the following exchanges: CME NYMEX COMEX NYSE ICE US NASDAQ as well as the Forex market and Spot. We remind that terminal time corresponds to the Central European time zone + 1 hour (CET+1). Please consider this information while planning your trading.

"Fort Financial Services"- fundamental and technical analysis. 28.10.2016 Euro General overview There were no major events on the schedule in the EU. The market was focused on Initial Jobless Claims and Durable Goods Orders releases. Current situation The EUR/USD pair was weak during the Asian hours on Thursday. The price touched the level 1.0900 where the downward momentum faded. The pair bounced off the level and was able to strengthen, reversing some of its losses in the European tardes. According to 1 hour chart the price is above 100-EMA which provides a solid support for the euro. The 50 and 100 EMAs are neutral, while the 200-EMA is heading south. The resistance comes in at 1.0950, the support lies at 1.0900. MACD grew which indicates the sellers’ positions weakening. RSI is neutral. Trading recommendations The level 1.0900 limits the euro weakening. Should that level break down and the EUR/USD may move to 1.0850. A daily close above 1.0950 will ease the downward pressure and will allow the common currency to strengthen towards 1.1000. Pound General overview The better-than-expected GDP report temporally supported the pound. The sterling was able to strengthen across the board. However, the US dollar quickly reversed its losses, limiting the further pound gains. Current situation The GBP/USD remained within a narrow range not far from the 1.2200 support level during the day on Thursday. Its latest recovery was stopped around the mark 1.2150 which knocked-off the rate downwards. The pound spent the night at the 1.2200 handle and slightly strengthened in the mid-European session. The GBP/USD weakened in the North American session. The sterling bounced from the 50-EMA, around 1.2200 in the 1 hour chart. The GBP/USD moved upwards and broke the 200-EMA in the same chart. The 50 and 100 EMAs are neutral, while the 200-EMA is moving downwards. The current resistance is seen at 1.2300, the support is at 1.2200. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI moved towards the oversold area. Trading recommendations If the GBP weakness persists the GBP/USD pair will get below 1.2200. In this scenario, sellers will move the price towards 1.2100. A move above 1.2300 would ease the downward pressure. Buyers will be able to push the price to 1.2350. Yen General overview The dollar remains around three-month highs against the yen. The US treasury yields strengthening and expectations over the Fed rate-hike support the US dollar across the board. Current situation The dollar grew above the yen on Thursday. The USD/JPY reversed all its losses which it had suffered the other day. The price remained in an upward channel. The pair bounced off its lowest limit and moved towards 105.00 during the course of the day. The price developed well above the moving averages which are all pointing higher in the 4 hours chart. The resistance can be found at 105.00, the support comes in at 104.50. MACD has formed signal to rise. The RSI indicator continues consolidating within overbought levels. Trading recommendations To retain bullishness for further gain to 105.00 the USD/JPY needs to hold above 104.50. On the other hand, a daily close below 104.50 would risk the 104.00 level. USD/CAD General overview The current crude oil correction kept on weighing on CAD. Besides, the BoC dovish comments last week weakened near-term Canadian dollar perspectives. Current situation The USD/CAD bullish perspective remained intact on Thursday. The pair stayed almost unchanged around 1.3400 which appeared to be a critical barrier for the pair. The price slightly moved lower ahead of the NY opening. The USD/CAD stayed above the moving averages with a bullish 50-EMA providing support for the price in the 1 hour chart. The pair seems to be struggling with the 50-EMA to move lower now. All moving averages (50, 100 and 200) are pointing higher in the mentioned time frame. The resistance is at 1.3400, the support can be found at 1.3330. The MACD indicator continues consolidating within overbought levels. RSI stuck within overvalued area. Trading recommendations A break above 1.3400 will allow the dollar to extend its gains towards 1.3470. A break below 1.3330 should send this market looking for the 1.3250 level. XAUUSD General overview Gold strengthened on Thursday as the uncertainty over the timing of future rate hike and the upcoming the United States presidential election of 2016 support the safe-heaven demand. Besides, gold prices extended their gains after disappointing U.S. durables goods data. Current situation Gold prices slightly changed during the day, remaining around 1270 dollars per ounce. The price was inactive after a sharp decrease on Wednesday. The XAU/USD slightly grew from 1265 to 1270, reversing a minor portion of its recent losses. The pair tested the level 1270 ahead of the NY session. Yellow metal remained between the 100 and 50 EMAs in the 4 hours chart. The 50 and 100 EMAs are neutral, while the 200-EMA is pointing lower. The resistance is at 1270, the support comes in at 1260 dollars per ounce. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI stayed within neutral area. Trading recommendations The pair may return to monthly high at 1275 after a daily close above the level 1270 dollars per ounce. A close below 1265 will retain the downward pressure. Brent General overview The persisting political instability in Venezuela combined with stronger Asian demand slowed down oil prices weakening, providing them temporal support. Current situation Brent oil prices had a positive day on Thursday. After a sharp decline the other day the price moved upwards, erasing its previous losses. The price moved higher on the back of profit taking. Besides, several fundamental factors supported the demand for Brent futures. Prices accelerated their growth at the NY opening. Brent oil futures broke the level 50.50 and extended their gains towards 51.50. The price bounced from the 200-EMA in the 4 hours chart. The 200-EMA is neutral, the 100 and 50 EMAs are pointing lower. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel. MACD is in the negative area. MACD grew which confirms the sellers’ positions weakening. The RSI bounced off the oversold area. Trading recommendations If the immediate upward pressure persists Brent futures might extend the recovery towards 51.50. DAX General overview European stocks edged lower despite positive earnings reports from Deutsche Bank and Barclays. The commodity sectors weakening led losses in Europe. Current situation DAX enjoyed a mixed session through trade on Thursday. The index was growing during the Asian hours and turned lower post-European open. Prices were able to strengthen to 10778 where sudden downward impetus sent prices below the current support 10700. Buyers did not have strength to recover, the benchmark got under selling pressure on any up-move above the level. The price failed to take out the 50-EMA which provided a strong resistance for it. The 50-EMA rejected the DAX index downwards, the price got under 100-EMA which provided additional resistance for the price. The resistance is seen at 10700, the support is at 10600. MACD is in the positive area. The histogram decrease which indicates the buyers’ positions weakening. RSI was neutral during the day. Trading recommendations The level 10800 seems the next probable bullish target. A daily close below 10700 might force the DAX index to resume its downward trajectory. S&P500 General overview The U.S stocks traded higher during the day and turned lower at the beginning of the New York session. The stocks turned lower despite strong quarterly earnings report in the healthcare and technology sectors. Current situation The index trade higher during the Asian and European sessions on Thursday. The benchmark turned lower at the beginning of the NY session. The price broke the level 2140 and set a daily high at 2143 when the price turned down and dropped below the level. After breaking the level S&P500 extended its losses and moved towards 2130. Prices bounced off the 200-EMA, turned around and broke the 100 and 50 EMAs on its way downwards. All moving averages are pointing lower in the 4 hours chart. The resistance is seen at 2140, the support is at 2130. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI oscillator is within neutral area. Trading recommendations The S&P500 now seems to be heading towards its immediate support near 2130. A solid break below the level will send the market towards 2120. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 27.10.2016 Euro General overview The euro strengthened on the back of the positive PMI Composite and IFO reports in EU and Germany. Current situation The EUR/USD spent the day on a positive note. The pair slightly grew in the Asian session on Wednesday and extended its gains during the European hours. The price was able to escalate to 1.0950 where a bullish spike faded. The 50-EMA stopped the upward impetus in the 4 hours chart. The moving averages kept heading lower. The resistance comes in at 1.0950, the support lies at 1.0900. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. The RSI is approaching the overbought area. Trading recommendations If the price makes another attempt and this time breaks above the 1.0950 resistance area then we could see it growing towards 1.0980. A return below 1.0900 will send the EUR/USD to 1.0850. Pound General overview The pound moved higher following the positive Mortgage Approvals release on Wednesday. Current situation The pound slightly strengthened against the US dollar on Wednesday. The price rallied from the mark 1.2154 to 1.2245. However, buyers failed to push the price higher during the European hours. The price briefly broke the level 1.2200 and returned below the level ahead of the NY opening. The 50-EMA stopped the growing momentum. The moving averages are pointing lower in the 4 hours chart. The current resistance is seen at 1.2200, the support is at 1.2100. MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. RSI is within the overbought area. Trading recommendations The inability to move the price higher points to sellers’ presence. A move below 1.2200 will signal the return of sellers who will try to move the GBP/USD lower towards 1.2150. Yen General overview The dollar is strong across the board amid increasing bets that the Fed hike rare in December. However, cautious sentiment around equity market supported the yen, stabilizing the USD/JPY pair. Current situation The USD/JPY pair remained around recent lows. The price found a solid support around 104.00 and spent the day above it. The upward trend remained intact. The price is still in an ascending channel, staying close to its lower limit. The 50-EMA stopped the downward impetus in the 1 hour chart. The 50-EMA is neutral, the 100 and 200 EMAs maintained their bullish slope. The resistance can be found at 104.60, the support comes in at 104.00. MACD is in the positive area. MACD decreased which indicates the buyers’ positions weakening. RSI is within the neutral area. Trading recommendations If the pair remains in an upward channel the price may reverse its losses and grew to 104.60. A move below 104.00 will signal about buyers’ weakness and may give sellers a chance to move the price lower, NZD/USD General overview The dollar moved from 9-month high on Wednesday. Despite the latest decline the dollar is strong on expectations of Fed rate-hike by the end of 2016. Current situation After one week decline the pair regained its lost ground and jumped to weekly high levels. Buyers moved the price to the mark 0.7180 where the growing momentum faded. The price encountered a solid resistance in the face of the 200-EMA which rejected it downwards in the 4 hours chart. The pair was between the 200 and 100 EMAs ahead of the NY opening. The moving averages kept moving lower. The resistance is at 0.7200, the support can be found at 0.7120. MACD is in the positive area. MACD decrease which indicates the buyers’ positions weakening. RSI moved upwards. Trading recommendations Bears will retain control if the price bounces downwards from the 200-EMA. Sellers will lead the price towards 0.7120. After breaking the level the price may drop to 0.7080. XAUUSD General overview Gold prices strengthened on Wednesday amid US dollar weakening across the board. The dollar moved from the 9 week highs increasing demand for the yellow metal. Current situation After a short-lived rally gold prices stopped above 1270 dollars per ounce, hovering above the level the whole day. Buyers seem to be unable to move the price higher. The pair is turning around and is about to decline now. The price is struggling with the 100-EMA to move lower. The 100-EMA is neutral, the 200-EMA is moving lower, the 50-EMA is turning upwards in the 4 hours chart. The resistance is at 1280, the support comes in at 1270 dollars per ounce. MACD is in the positive area. MACD decrease which indicates the buyers’ positions weakening. RSI bounced from the oversold area. Trading recommendations Failure to hold above 1270 risks a decline towards 1260 dollars per ounce. Brent General overview Oil prices fell on Wednesday amid fading hopes that the OPEC members would come to an agreement with the output deal. Current situation Brent oil futures extended losses from the previous sessions on Wednesday. The price broke the level 50.50 and continued to lose its value. After breaking the level Brent futures moved lower and approached the next support area around 49.50. Oil futures approached the 200-EMA which may act as a support for them. The 200-EMA maintained its bullish direction, while the 50 and 100 EMAs are turning downwards. The resistance is at 50.50, the support comes in at 49.50 dollars per barrel. MACD is in the negative area. MACD decrease which confirms the strength of sellers. The RSI is within oversold area. Trading recommendations In the 4 hours chart, the technical picture favors a downward extension. After breaking 49.50 Brent oil futures might extend its losses towards 48.50. We do not exclude taking profit from bears after a recent decline. DAX General overview European stocks traded on a weaker note on Wednesday. Investors continued weighing up the latest corporate earnings report. Current situation The index suffered a short lived downward movement. DAX had a sharp drop below the support level of 10700. After breaking the mentioned level the prices moved lower and rapidly approached the level 10600. The price struggled with the 50-EMA to grind lower. The moving averages in the 4 hours chart maintained their bullish slope. The resistance is seen at 10700, the support is at 10600. MACD is in the positive area. The histogram decrease which indicates the buyers’ positions weakening. RSI moved downwards. Trading recommendations DAX may extend its losses towards 10600. Should this mark be reached successfully, an extension towards 10550 could be observed further. A recovery due to profit-taking towards 10700 is possible. NASDAQ General overview Wall Street opened lower on Wednesday as Apple disappointing earnings and weaker oil prices dragged the shared down. The market will be focused on Boeing and Coca-Cola Company earnings reports in the coming sessions. Current situation The sentiment remained negative in the market. The bearish momentum was strong enough to push the price lower on Wednesday. The NASDAQ index broke 4865 and headed towards 4835. The price is approaching the neutral 100-EMA which may slow down its weakening. The 100 and 200 EMAs are neutral, while the 50-EMA is heading higher. The resistance is seen at 4865, the support is at 4835. MACD is in the positive area. The histogram decrease which indicates the buyers’ positions weakening. RSI oscillator is heading north. Trading recommendations The level 4835 remains the key support area to watch for. A bearish continuation through 4835 should lead to a continued slide, with 4800 as the first probable target. On the other hand, a return above 4865 will neutralize our near term negative outlook. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 26.10.2016 Euro General overview The EUR/USD was little changed on Tuesday despite strong Business Climate and Expectations in Germany. Current situation The euro was little changed on Tuesday. The common currency remained below the level 1.0900 during the day. The price traded in a tight range between the mark 1.0865 and the level 1.0900. The pair stayed below the 50-EMA in the 1 hour chart. The 50-EMA acted as a resistance for the price, rejecting its attempts to grow. The 50, 100 and 200 EMAs kept heading lower in the mentioned time frame. The resistance comes in at 1.0900, the support lies at 1.0830. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. The RSI is within oversold area. Trading recommendations The pair may extend its recovery if it breaks the level 1.0900 upwards. In this scenario the EUR/USD may grow to 1.0950. The level 1.0830 remains the next probable bearish target. Pound General overview There were no macroeconomic releases in the UK. The BOE's Governor Carney speech was the main event on Tuesday. Current situation Sellers continued to dominate in the market on Tuesday. The GBP/USD pair remained under pressure in a narrow range, trading a few pips above 1.2100. The pair was sandwiched between 50 and 100 EMAs in the 1 hour chart. The 100-EMA provided a solid resistance and limited the pound further recovery. The 50, 100 and 200 EMAs slowed down their decline. All moving averages are pointing lower. The current resistance is seen at 1.2200, the support is at 1.2100. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI is within the neutral area. Trading recommendations We prefer to sell now. After breaking 1.2200 the price will move towards 1.2100. Yen General overview The improved investors’ appetite for riskier assets weighed on the yen, maintaining its strong ask tone. Current situation The USD/JPY pair looked very bullish yesterday. The pair remained in an ascending channel, trading close to its two-week highs. The USD/JPY extended its gains and grew from 104.11 to 104.60. The price is above the moving averages in the 4 hours chart. The moving averages maintained their bullish slope. The resistance can be found at 104.60, the support comes in at 104.00. The MACD histogram grew which indicates the buyers’ strength. RSI oscillator stayed near overbought area levels. Trading recommendations The USD/JPY pair approached the overbought area where the price turned around last time. The price will remain under buying pressure until it holds above 103.60. We expect a short-term decline back to the 104.00 - 103.70 support area. AUD/USD General overview The dollar strengthened across the board after stronger Manufacturing PMI data and the Fed officials’ remarks. The dollar is strong amid growing expectations that the Fed would hike the rates in December. Current situation The AUD spiked upwards in the Asian session on Tuesday. The price jumped from the level 0.7600 up to 0.7625. Buyers failed to break the level 0.7625, the price turned around and decreased, erasing its previous gains. The price bounced upwards from the 200-EMA in the 4 hours chart. The AUD/USD pair broke the 50 and 100 EMAs in the same chart and hovered above them during the day. The resistance is at 0.7650, the support can be found at 0.7625. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI returned to the oversold area. Trading recommendations Buyers may try to retake 0.7650. If the level holds the Aussie may return to 0.7600. If succeeded buyers will lead the price to 0.7675. XAUUSD General overview Gold futures edged higher on Tuesday, however, its gains were limited by a stronger dollar. The U.S dollar strengthened after the Fed officials’ hawkish remarks regarding a rate hike in December. Current situation The XAU/USD pair traded flat on Tuesday. The price remained between 1270 and 1260 dollars per ounce during the day. Gold prices struggled to find support around 1260. Sellers failed to break the level and the yellow metal bounced upwards and recovered to the upper boundary of the range. The pair bounced from the 50-EMA and headed towards the 100-EMA in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs slowed down their decline. The resistance is at 1270, the support comes in at 1260 dollars per ounce. The MACD histogram grew which indicates the buyers’ strength. RSI oscillator stayed in overbought area levels, favoring a new move lower. Trading recommendations After breaking through the current resistance, the XAU/USD will most likely move up to around the 1280 level. Conversely, if the resistance 1270 holds a move towards 1260 dollars per ounce could be the next step. Brent General overview Oil prices strengthened on Tuesday on expectations of a planned output cut by the OPEC. Current situation After a sharp drop on Monday oil prices recovered on Tuesday. The price grew from the level 50.50 to 51.81 overnight. Buyers failed to move the price higher, Brent returned to selling on the back of profit taking. The price bounced from the bullish 50-EMA which acted as a resistance for it. The 100 and 200 EMAs maintained their bullish slope in the 4 hours chart. The 50-EMA is neutral in the same chart. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel. MACD is in the negative area. MACD remained at the same level which confirms the strength of sellers. The RSI is within neutral area. Trading recommendations If Brent maintains its bearish momentum oil prices will drop below 51.50. A cut through here will aim at the 50.50 level. DAX General overview European stocks maintained their bullish tone. The increase in earning of Randstad and Orange supported the markets. Current situation DAX gapped higher at the open on Tuesday. Prices jumped from 10757 to 10785. The index extended its gains after the gap. The price tested the level 10800, set a new daily high at 10834 and rolled back below the level. The price hovered above the moving averages in the 4 hours chart. The moving averages (50, 100 and 200) kept heading north. The resistance is seen at 10800, the support is at 10700. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. The RSI is within overbought area. Trading recommendations The index will remain under pressure unless it breaks and holds above 10800. After breaking the level the market would look a little stronger with the level 10900 as a target area. S&P500 General overview Wall Street little changed in the NY session on Tuesday, traders awaited for corporate earnings reports, including Apple. Current situation The index extended its gains on Tuesday. The price was able to escalate to 2150 Post-European open. Buyers failed to take out the level, the price rolled, erasing its latest gains. The index broke the 100-EMA and moved upwards to the 200-EMA where the line stopped its further recovery. The 50-EMA is turning upwards, the 100 and 200 EMAs maintained their bearish slope. The resistance is seen at 2140, the support is at 2130. MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the oversold area. Trading recommendations The index may extend its losses towards 2140. A clear break below the level may send the price looking for the 2130 level test. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 24.10.2016 Euro General overview The dollar traded near fresh 7-month highs on the final trading day of this week. The EUR/USD pair edged lower as the latest M. Draghi's remarks weighed on the euro, at the same time the U.S. rate hike hopes supported the US dollar. Current situation Bears have the ball now. Sellers pushed the euro lower, the price broke the level 1.0900 and headed towards 1.0830. The pair continues developing well below the moving averages in the 4 hours chart. The moving averages (50, 100 and 200) keep heading lower. The resistance comes in at 1.0900, the support stands at 1.0830. MACD is negative. MACD decreased which confirms the strength of sellers. The RSI indicator is within negative territory, favoring a new move lower. Trading recommendations The EUR/USD pair is heading towards 1.0830. Should that level break down and the price will decline to 1.0780. We also expect a profit taking from bears after three-day sell-off. The prices may recover to 1.0950. Pound General overview The pound remained under pressure amid the return of the hard Brexit concerns. According to the U.K. Office for National Statistics Public Sector Net Borrowing grew in September. Current situation The pound remained vulnerable on Friday. Sellers continued to dominate and were able to push the price lower. The pair moved below 1.2300 and approached the level 1.2200 in the European session on Friday. The GBP/USD pair broke the level before the NY opening. The 50-EMA acts as a resistance and does not let the price to grow in the 4 hours chart. The pound bounced off the level and trended downwards from it. The 50, 100 and 200 EMAs continued moving lower. The current resistance is seen at 1.2300, the support lies at 1.2200. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI is heading south. Trading recommendations A move below the 1.2200 support would suggest a resumption of the bearish trend. The prices may move lower towards 1.2100. Yen General overview According to Haruhiko Kuroda (the BoJ Governor) the regulator may extend timing for reaching its inflation target. Current situation The USD/JPY pair turned negative after opening on Friday. After two-day recovery the price reached the level 104.00. Buyers were unable to retake the level, the price turned around and got under selling pressure. The pair traded around 103.75 Post-European open. The USD/JPY hovered over the moving averages in the 1 hours chart. The prices touched the 50-EMA which rejected them upwards. The 50-EMA provided a temporally support for the dollar. The moving averages are moderately bullish in the same chart. The resistance can be found at 104.00, the support comes in at 103.00. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI left the overbought area and headed downwards. Trading recommendations If the bearish scenario prevails the USD/JPY pair will face additional selling pressure. Sellers will lead the price towards 103.50 first. After breaking the mark the pair will move to 103.00. NZD/USD General overview The NZD/USD declined as expectations for the next U.S. rate hike kept supporting the US dollar. Current situation Kiwi was a little changed on Friday and remained prone to more weakness. Sellers kept pushing the price lower below 0.7200. The price stalled its decline around 0.7160 in the European trade. The pair broke the 200-EMA and tested the 100-EMA in the 4 hours chart. The 100-EMA provides a solid support and does not allow its further weakness. The moving averages (50, 100 and 200) are neutral in the mentioned timeframe. The resistance is at 0.7200, the support stands at 0. 7120. MACD decreased which indicates the buyers’ positions weakening. RSI is moving towards the oversold area. Trading recommendations In the event that the sellers manage to force the below 0.7160 the NZD/USD may test 0.7120. If the price bounces from the mark 0.7160 the pair may recover up to 0.7200. XAUUSD General overview Gold prices edged lower on Friday following the U.S. dollar strengthening. Meanwhile, the latest ECB’s decision supported the yellow metal. Current situation Gold prices traded mixed on Friday. The yellow metal traded lower the half of the day and higher the other half. Sellers moved the price to the level 1260 dollar per ounce which appeared a solid barrier for it. The pair bounced from the level and reversed some of its losses. The XAU/USD traded in the 1264 region ahead of the NY session. The 50-EMA stopped the further gold prices weakening in the 4 hours chart. The price bounced off the line and moved higher to the 100-EMA. The resistance is at 1270, the support comes in at 1260 dollar per ounce. MACD remained at the same level which confirms the strength of sellers. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations A bearish continuation through 1260 should lead to a continued slide, with 1255 as the first probable target. A close below this mark will allow sellers to move lower towards 1250 dollars per ounce. Brent General overview Oil prices strengthened on Friday on Russia's output freeze commitment. Although a stronger dollar limited oil prices growth. Current situation Brent prices were in sell mode during the European session on Friday. The prices started the day around 51.50 and stayed under pressure during the day. Oil prices rose at the start of the NY session and closed the week bullish. The prices bounced upwards from the bullish 100-EMA and tested the 50-EMA on its way upwards in the 4 hours chart. The 50-EMA is turning downwards, the 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI bounced off the oversold area. Trading recommendations A consolidation above the 52.00 mark may extend bullish momentum. In the scenario where the buyers keep control Brent futures may recover back to 52.50 dollars per barrel. Otherwise, a move below 51.50 will weaken buying momentum and switch the market sentiment. In this potential scenario sellers will move the price towards 50.50 dollars per barrel. DAX General overview European stocks edged higher on Friday amid a weaker euro and strong corporate earning reports. Current situation The DAX index traded bearish on Friday. The prices stayed above the level 10700 during the European trades. However, the index gets under selling pressure on any up-move from the level. DAX moved below the level ahead of the New York session and returned above the level at close of trade. The moving averages are pointing higher in the 1 hour chart. The 50-EMA crossed the 100 and 200 EMAs upwards. The resistance is seen at 10800, the support is at 10700. MACD decreased which indicates the buyers’ positions weakening. RSI remained within positive area. Trading recommendations In order to take a good position we will wait for prices to break below 10700. A solid consolidation below the level will indicate a growing strength of sellers. In this potential scenario the price will drop to 10600. S&P500 General overview Wall Street closed higher as Consumer Services, Technology and Consumer Goods sectors strengthened. Current situation S&P500 opened on a weaker note on Friday. The index continued to lose its value during the European session. Prices declined from 2135 towards 2123 during the first part of the day. S&P500 turned around at the beginning of NY session. The price returned above 2130, reversing some of its losses. The price broke the 50-EMA upwards in the 4 hours chart. The index headed towards the 100-EMA in the same time frame. All moving averages kept heading lower. The resistance is seen at 2140, the support is at 2130. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI oscillator moved upwards. Trading recommendations If S&P500 manages a break below 2130 and stays there we would likely be selling the index towards 2120. If the price stays above the level the index we will buy it towards 2140. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

Earn more with Profit Bonus FortFS announces the start of the promo-action “PROFIT BONUS” which is designed to boost your profits. Starting from 24 October until 25 November 2016 inclusively every profitable trade will be rewarded with 2% of the resulting profit. The percentage amount credited will be available for withdrawal with no restrictions. Multiply your profit with FortFS Terms and conditions of the promo-action "PROFIT BONUS" are available here

"Fort Financial Services"- fundamental and technical analysis. 21.10.2016 Euro General overview The EUR/USD remained unchanged after the ECB left its monetary stance unchanged. Current situation The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance comes in at 1.1000, the support stands at 1.0950. MACD remained at the same level which confirms the strength of sellers. The RSI oscillator is consolidating within negative area. Trading recommendations The level 1.0950 seems the next probable bearish target. After breaking the level sellers will lead the price towards 1.0900. We do not exclude a short-term correction towards the 1.1000 resistance region. Pound General overview The pound edged lower on Thursday following worse-than-expected Retail Sales release. Current situation The GBP/USD pair remained near its recent highs, consolidating its gains. The pound traded flat, staying within a tight range between 1.2300 - 1.2260.The prices moved downwards from the upper limit of the range towards its lower boundary during the day. According to the 1 hour chart the price is sandwiched between the 50 and 200 EMAS. All moving averages (50, 100 and 200) are neutral in the same chart. The current resistance is seen at 1.2300, the support lies at 1.2200. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI moved towards the oversold area. Trading recommendations The GBP/USD is having difficulties to go any higher. If the pound manages to break above the current resistance it will be able to test the level 1.2400. On the other side, a break below 1.2200 will erase its recent gains and will return sellers in the game. Yen General overview The USD/JPY edged higher on growing expectations over the Fed's monetary policy action. Current situation The USD/JPY pair remained in a wide sideways channel in the 4 hours chart. The price reached the lower limit of the range on Wednesday and bounced upwards after testing it. Bulls were able to reverse most of its latest losses on Thursday. The pair was able to escalate up to 103.75 ahead of NY opening. In the 4 hours chart the price met a strong barrier in the 103.00 region, around the 100-EMA which rejected the pair upwards. The pair returned above the 50-EMA and stayed there during the day in the mentioned chart. The resistance can be found at 104.00, the support comes in at 103.00. MACD is negative. However, MACD grew which indicates the sellers’ positions weakening. RSI bounced off the oversold area. Trading recommendations After rolling back the price may take another chance to reclaim the level 103.00. If sellers manage to break the level through the price will decline towards 102.50, around the 200-EMA. Alternatively, the USD/JPY will move above 104.00. AUD/USD General overview The Australian dollar moved lower vs. its U.S peer after mixed unemployment data release on Thursday. Current situation The price encountered significant losses on Thursday. After touching the level 0.7730 the prices turned around and sharply fell. The pair broke the 0.7690 level and tested 0.7650 on its way down. The downward impetus faded around the daily low. The AUD/USD broke the 50-EMA in the 1 hour chart. The price is approaching the 100-EMA in the same timeframe. The 50-EMA is turning down, the 100 and 200 EMAs are still heading north. The resistance is at 0. 7690, the support stands at 0. 7650. MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the overbought area and headed towards the negative levels. Trading recommendations If the price overcomes 0.7650 and moves downwards we will neutralize our medium term positive outlook. After breaking the current support level prices will trend towards 0.7625. XAUUSD General overview Gold prices remained near 2-week highs as speculations over Fed rate-hike continued. Current situation Technically, the short term picture is modestly bullish. The recovery from 1260 stalled at the 1270 level which hold onslaught of bulls. The XAU/USD pair traded in a narrow sideways range of 50 pips or less during the course of the trades. The 100-EMA limits yellow metal further strengthening in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are heading lower. The resistance is at 1270, the support comes in at 1260 dollar per ounce. MACD remained at the same level which confirms the strength of buyers. RSI is consolidating within positive territory. Trading recommendations The tone is still positive in the market. Should gold prices advance beyond the 1270 level, the rally can extend in the short term up to 1280 dollar per ounce. A move below the level will ease buyers’ positions, giving them a chance to move the price to the monthly lows. Brent General overview Oil prices moved lower on Thursday after a rally on the back of large U.S. oil inventory drawdown last week. Current situation Brent prices gave up its recent highs and sharply fell in the Asian session on Thursday. The ongoing decline could be attributed to some profit taking from bulls following a 3-day rally. Sellers pushed the price below 52.50 and met a barrier in the 52.00 region. The oil quotes continued with a decline during the North American session. The price broke the 50-EMA and headed lower towards the 100-EMA in the 4 hours chart. The 50-EMA is neutral in the same chart. The 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations Our near term outlook is bearish. To trigger additional downward momentum oil prices need to break 52.00 and move below 51.50. DAX General overview European stocks traded mixed on Thursday. Market participants waited for the ECB’s meeting results and Mario Draghi’s press-conference. Current situation The index extended its near-term upward trajectory on Thursday. DAX gapped higher at the opening and extended its gains during the Asian session yesterday. Prices touched the level 10700 and immediately rolled back, spending the day below the level. The price hovered above the moving averages on yesterday’s trades. The moving averages (50, 100 and 200) are mixed in the 4 hours chart. The 200-EMA is neutral, the 50 and 100 EMAs are pointing higher. The resistance is seen at 10700, the support is at 10600. MACD remained at the same level which confirms the strength of buyers. The RSI indicator continues consolidating within overbought levels. Trading recommendations The DAX index may attempt to reclaim the 10700 level again. If prices break the level the index will extend its gains towards 10750. NASDAQ General overview The American Stocks edged higher at opening after the third and final U.S. presidential debates. NASDAQ turned lower during the NY session ahead of U.S. fresh statistics. Current situation The price stayed opened above the level 4835, trading in a tight range of 50 pips on Thursday. Sellers seem to be guarding the mark 4845 as the price bounces from the level on every attempt to grow. NASDAQ eased and moved lower in the New York session. The index struggled with the 100-EMA to grow further in the 4 hours chart. After bouncing from the moving average, the price moved to the 200-EMA which acts as a support for the index. The moving averages are mixed in the 4 hours chart. The 100-EMA is neutral, the 50-EMA is going downwards, the 200-EMA is moderately bullish. The resistance is seen at 4865, the support is at 4835. MACD remained at the same level which confirms the strength of buyers. The RSI indicator continues consolidating within overbought levels. Trading recommendations A strong breakdown and close above 4845 could send prices higher towards 4865. A return below 4835 will increase selling momentum towards 4800. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 20.10.2016 Euro General overview The euro strengthened against the US dollar on the back of the weak data and Fed officials’ ambiguous comments regarding the rate. Current situation The bearish trend remained intact in the 4 hours chart. The EUR/USD pair was decisively trading below the 1.1000 level. The market was fairly balanced during the Asian session on Wednesday. The price stayed between the marks 1.0970 and 1.1000. The euro moved down towards 1.0950 during the European trades. The euro quotes broke the 50-EMA and tested the 100-EMA in the 1 hour chart in the Asian session. The 100-EMA rejected the price downwards. The EUR/USD was in-between the 50 and 100 EMAs during the early European hours and moved below the lines ahead of the US opening. All moving averages accelerated their decline in the mentioned timeframe. The resistance comes in at 1.1000, the support stands at 1.0950. MACD is in the negative territory. MACD decreased which confirms the strength of sellers. RSI headed towards the oversold area. Trading recommendations Negative technical studies maintained bearish pressure. A break below 1.0950 will suggest a further weakness towards 1.0900. Pound General overview The pound strengthened on Wednesday due to the positive labour market report. The unemployment level has remained unchanged despite the Brexit referendum results. Current situation The GBP/USD remained in bulls' hands on Wednesday. Bulls pushed the price towards 1.2300. The sterling was battling with the resistance 1.2300 during the day. The pound quotes broke the 50 and 100 EMAs and snapped the 200-EMA in the 1 hour chart. The 200-EMA became an initial barrier for the price which was struggling to take it out during the day. The 50-EMA crossed the 100-EMA upwards in the same chart. The moving averages (50, 100 and 200) are neutral. The current resistance is seen at 1.2300, the support lies at 1.2200. MACD entered the positive area. MACD grew which indicates the sellers’ positions weakening. RSI approached the oversold area. Trading recommendations Our short-term outlook remains bullish. A break above 1.2300 risks a growth towards the resistance at 1.2400. Yen General overview The US dollar weakened against its main peers following the recent US data. Traders were cautious ahead of U.S. Building Permits release. Current situation The 4 hours chart for the pair presents a moderate bearish potential. The price finally broke the consolidation range and made a good break below 104.00. Sellers pushed the quotes towards 103.00. The 50-EMA stopped the downward momentum in the 4 hours chart. The moving averages (50, 100 and 200) extended their growth. The resistance can be found at 104.00, the support comes in at 103.00. MACD entered the oversold area. MACD decreased which indicates the buyers’ positions weakening. RSI moved towards the overvalued levels. Trading recommendations The USD/JPY is approaching the 103.00 level. A move below the level would indicate that the immediate upward pressure eased. In this scenario, sellers will push the price further towards the 102.50 region. A bounce off the 103.00 level will return buyers in the game. USD/CAD General overview The commodity currencies like loonie strengthened following oil prices growth. Current situation The pair retained a neutral, short-term undertone. The USD/CAD extended its recovery and touched the daily high at 1.3128 before retreating downwards. The price spent the day within a tight range 1.3130 - 1.3080. The USD/CAD pair bounced downwards from the 200-EMA in the 4 hours chart. The 200-EMA is neutral, the 50-EMA is crossing the 100-EMA downwards. The resistance is at 1.3150, the support stands at 1.3050. MACD decreased which confirms the strength of sellers. RSI indicator was holding near oversold levels, favoring a new move lower. Trading recommendations The USD/CAD is approaching the support 1.3050. If the price breaks this support, the pair may fall further that should send this market looking for the 1.3000 mark. XAUUSD General overview Gold prices grew amid uncertainty over the timing of future Fed rate hikes. Current situation The gold hold the upbeat tone vs. its American peer on Wednesday. The XAU/USD finally left the range and extended its gains during the European session on Wednesday. Buyers led the price from the level 1260 towards 1270 per ounce. The bullish spike faded around the immediate resistance where prices spent the rest of the day. The pair broke the 50-EMA and approached the 100-EMA which stopped its growth in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are still moving downwards. The resistance is at 1270, the support comes in at 1260 dollar per ounce. MACD is in the positive area. MACD grew which indicates the sellers’ positions weakening. RSI is going north which confirms the current upward movement. Trading recommendations The overall outlook remains bullish, for rise towards 1270 resistance area. A successful break above the level will send prices towards the next resistance at 1280 dollar per ounce. Brent General overview A fall in U.S. crude stocks together with a planned output cut next month support oil prices. Current situation Brent futures remained rangebound between the current support and resistance. Bulls pushed the price from the lower end of the range towards its upper one. Buyers moved Brent futures towards 52.50 dollars per barrel where the buying momentum faded. Oil prices bounced off the level and spent the European session slightly below it. The price stays in the 50-EMA region which provides a solid resistance for oil futures. The 50-EMA is neutral, the 100 and 200 EMAs are pointing higher. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI is in a neutral area. Trading recommendations If the 52.50 dollars per barrel level can hold Brent futures could decline to 51.50. A clear strength above this immediate resistance will pave way towards 53.50. DAX General overview European stocks opened lower as investors digested the Chinese data and European corporate earning reports. Current situation DAX index opened bearish yesterday. The price gapped higher at the opening and filled the gap after declining back to 10600. The level 10600 appeared to be a tough nut to crack. The price rolled back in early European trades and made another attempt to break below the level lately. Sellers again failed to reclaim the 10600 level, the price bounced off the level and moved to the 10650 region. The 50 and 100 EMAs kept moving higher with the 50-EMA crossing the 200-EMA in the 4 hours chart. The 200-EMA is neutral in the mentioned timeframe. The resistance is seen at 10700, the support is at 10600. The MACD indicator continues consolidating within overbought levels. RSI indicator is near overvalued territory, favoring a new move lower. Trading recommendations The near term outlook will be bullish as long as the price holds above 10500. S&P500 General overview American stocks opened higher on Wednesday on the back of the strong quarterly earnings. Current situation The index was positive yesterday despite the negative spike in early European trades. Sellers failed to retake the level 2130, the price bounced from the support and jumped to the 2135 region. The growing momentum was stopped by the 50-EMA which rejected the price downwards. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance is seen at 2140, the support is at 2130. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI was neutral during the day. Trading recommendations The bearish tone persists. The S&P500 index may try to retake the level 2130 after a current roll back. The next level to focus on is 2120. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 19.10.2016 Euro General overview The dollar weakened against its main peers as the disappointing U.S. data keep weighing on it. Current situation The EUR/USD pair remained in a near-term descending channel on Tuesday. The price bounced off its lower limit, approaching its upper boundary during the first part of the day. The current recovery might be bears' profit taking after last week decline. The pair faced another selling pressure at the NY open. The EUR/USD gave up its recent gains and moved below 1.1000 towards 1.0950. According to the 1 hour chart the recovery action was limited by the 100-EMA near the 1.1000 region. The price bounced from the line and moved downwards. The moving averages (50, 100 and 200) keep moving lower. The resistance comes in at 1.1000, the support stands at 1.0950. MACD remained in the negative area. MACD decreased which confirm the sellers’ positions strength. The RSI oscillator moved downwards. Trading recommendations A downtrend will start as soon, as the EUR/USD pair consolidates below the level 1.1000. The level 1.0950 is the first sellers’ target. Pound General overview The pound strengthened on the back of the positive Consumer Price index in the UK. Current situation The sterling remained in a range during the Tuesday’s trades. The price moved from its lower limit at 1.2130 and was able to escalate up to 1.2288 where the upward momentum faded. An attempt to recover was limited by the 50-EMA in the 4 hours chart. All moving averages keep heading south in the mentioned timeframe. The current resistance is seen at 1.2300, the support lies at 1.2200. MACD grew which indicates the sellers’ positions weakening. The RSI oscillator moved upwards. Trading recommendations A break above the upper limit of the range will allow recovering towards 1.2400. A break below 1.2100 will suggest further weakness. Yen General overview The dollar traded lower against the other major currencies following the weak Empire State manufacturing report which diminished expectations for another rate hike by Fed in 2016. Current situation The 3-week bullish trend remains intact. The price strengthened in the Asian session on Tuesday. However, the growth was stopped by the 104.00 level, where the pair met a selling interest, pushing the price lower. The USD/JPY pair bounced off the level and headed downwards to the 103.40 region where the 50-EMA lies. The 50-EMA may provide a solid support for the quotes in the 4 hours chart. The moving averages maintained their bullish slope in the same timeframe. The resistance can be found at 104.00, the support comes in at 103.00. MACD decreased which indicates the buyers’ positions weakening. RSI is within the neutral area. Trading recommendations In the potential scenario, the next stop for the USD/JPY could well be around level at 103.40. If the pressure persists the price will extend its losses towards 103.00. NZD/USD General overview The kiwi strengthened due to the better-than-expected Consumer Price Index report and a weaker dollar. Current situation The pair had a positive day on Tuesday. The NZD/USD extended its bullish momentum, struggling with 0.7200 to move higher. The price tried to break the bearish 200-EMA which limited its growth in the 4 hours chart. The 200-EMA is neutral, the 50 and 100 EMAs are turning upwards, following the price. The resistance is at 0.7200, the support stands at 0.7120. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. The RSI is in the overbought area. Trading recommendations If bulls retain control and breaks above 0.7200 the NZD/USD pair will strengthen towards 0.7250. If the price fails to reclaim the level 0.7200, then this could lead to renewed selling momentum, possibly towards 0.7120. XAUUSD General overview Gold prices traded higher on Tuesday as the disappointing US inflation report pushed back expectations for another US rate hike. Current situation The XAU/USD remained rangebound on Tuesday. Gold prices reached the upper boundary of the range when the level 1260 dollar per ounce stopped its further recovery. The price struggled hard with the level to extend its gains, but failed. The yellow metal retreated from the daily high and continued to head lower in the North American session. The 200-EMA stopped the yellow metal strengthening in the 1 hour chart. The 200-EMA rejected the price downwards, towards the 50 and 100 EMAs. The 200-EMA is moving downwards, the 50 and 100 EMAs are neutral in the same chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. If MACD remains within the negative territory, sellers’ positions will strengthen. The RSI left the overbought area and headed south. Trading recommendations If the price makes another attempt and this time breaks above the 1260 resistance area then we could see its growth towards 1270 dollar per ounce. At the same time bearish scenario requires close below 2150 dollar per ounce. Brent General overview Oil prices remained positive on Tuesday as some analysts believe that the market is not so oversupplied as it was suggested earlier. Current situation Brent gapped higher at the open on Tuesday. Prices jumped from 51.67 to 51.70 dollars per barrel. Brent crude oil continued with its recovery later the day. The price reached the mark 52.00 which appeared to be a pivot point. The price turned around and headed lower towards 51.50. However, the downward pressure quickly faded and the price stopped a few pips above 51.50. The 50-EMA became a barrier on its way upwards in the 4 hours chart. The line rejected the price, sending it downwards. The 50-EMA is neutral, the 100 and 200 EMAs are pointing higher. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI moved upwards. Trading recommendations Bears are attempting to control the market. If they succeed the price will break 51.50. After breaking the level bears will move towards 50.50. DAX General overview European stocks sentiment improved due to oil prices growth and as investors began preparing for the ECB meeting this Thursday. Current situation The DAX index ended its 4-day decline and opened on a positive note on Tuesday. The price gapped higher at the open and extended its gains towards 10656, breaking the level 10600 on its way up. Having refreshed the weekly high the index rolled back towards 10600. The price jumped over the 50 and 200 EMAs in the 4 hours chart. The 50 and 100 EMAs maintained their bearish slope, the 200-EMA is neutral. The resistance is seen at 10700, the support is at 10600. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. The RSI is within overbought area. Trading recommendations A daily close above 10600 will indicate a continuation of the upward movement. Buyers will push the price towards 10700. A close below 10600 may trigger a downward movement towards 10500. NASDAQ General overview Wall Street opened higher fallowing the positive Consumer Price index. Investors keep weighing up corporate earnings reports. Current situation NASDAQ held a bullish tone yesterday. The index continued moving higher, breaking above the previous day’s top. The price broke the level 4835 and was able to extend its gains towards 4848 where the bullish spike faded and NASDAQ rolled back. The 100-EMA stopped the upward momentum. The price bounced off the moving average and headed downwards below the 50-EMA. The 100 and 50 EMA direction is downwards. The 200-EMA is moderately bullish. The resistance is seen at 4850, the support is at 4800. MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. The RSI oscillator moved upwards. Trading recommendations The index remained in a broad range descending channel. The price tested its upper boundary on Tuesday. A break above the line will indicate that the negative sentiment is over. In this potential scenario, buyers will lead the price to 4865. If the price fixates below the level 4835 NASDAQ may return to a decline. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 18.10.2016 Euro General overview The dollar grew against its main rivals to 7-month high on Monday. The US currency was able to extend its gains amid optimistic US data which reinforced investors’ hopes over the Fed rate hike in 2016. Current situation The euro partly recovered and was able to reverse the majority of its losses during the trades on Monday. The ongoing recovery could be attributed to some profit taking from bears following Friday's sell-off. Buyers pushed the EUR/USD to the resistance 1.1000. However, bulls failed to regain the level and the price slightly rolled back. The euro quotes tested the 50-EMA, around 1.1000 in the 1 hour chart. The 50-EMA acted as a barrier and rejected the price downwards. All moving averages (50, 100 и 200) are heading lower. The resistance comes in at 1.1000, the support stands at 1.0950. MACD remained in the negative area. The MACD histogram remained at the same level which indicates the sellers’ strength. RSI indicator is holding near oversold levels. Trading recommendations We do not exclude that after rolling back the euro will try to retake the level 1.0950 again. Conversely, after a daily closing above the level 1.1000 the EUR/USD may extend its gains towards 1.1050. Pound General overview The pound remained under pressure amid growing concerns over the hard Brexit. Current situation The neutral phase that started last week is still intact. The cable gapped downwards at the open on Monday. The price jumped downwards from 1.2182 to 1.2153. The pair extended its losses after the gap and stayed in a tight range 1.2140 - 1.2200 during the course of the day. The sterling remained under bearish 50-EMA which limits its growth in the 1 hour chart. The moving averages slowed down with their decline, going downwards in the same chart. The current resistance is seen at 1.2200, the support lies at 1.2100. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI indicator is consolidating around the oversold levels. Trading recommendations We prefer to stay neutral for now. We expect further sideways trades in the coming sessions. Yen General overview The USD/JPY pair preserved its bid tone after the positive US retail sales report which pointed that the Fed is moving closer to raise the rates before the end of the year. Current situation The dollar/yen remained in an upward channel on Monday. The price moved away from the upper limit of the cannel and is struggling with the 104.00 support to go decline further. The dollar quotes approached the bullish 50-EMA in the 1 hour chart. The 50-EMA provides a solid support for the price. All moving averages are pointing higher. The resistance can be found at 105.00, the support comes in at 104.00. MACD is in the positive area. The histogram remained at the same level which indicates the buyers’ strength. RSI is within the overbought area. Trading recommendations After breaking the 104.00 support the price will keep advancing south towards the mark 103.30. A bounce off the level will extend its gains toward the last week high at 104.61. AUD/USD General overview The Aussie softened against the dollar and lost some of its gains amid the commodity market growth. Current situation The AUD/USD pair was in buy mode on Monday. The price retreated from the lows posted on Friday. The Aussie moved upwards and was able to reverse some of its losses on Monday. The pair left the short-term downward channel and is trying to extend its buying momentum now. The price seems to be moving towards the resistance area at 0.7650. The AUD/USD pair bounced from the 50 and 100 EMAs which provided a bearish support for the quotes. The price bounced off the lines and moved away from them. The 50, 100 and 200 EMAs are neutral in the 4 hours chart. The resistance is at 0.7650, the support stands at 0.7600. MACD is in the positive area. The histogram remained at the same level which indicates the buyers’ strength. The RSI oscillator moved upwards. Trading recommendations If the positive tone persists the AUD/USD pair may extend its near-term recovery towards 0.7650. At the same time a bearish scenario requires a close below 0.7600. XAUUSD General overview Gold prices remained unmoved on Monday, trading around 4-month lows. A stronger dollar limits the further gold recovery. Current situation Gold prices traded flat on Monday. The last week trading range remained intact. The XAU/USD pair made an attempt to recover in the Asian session on Monday. However, the upward momentum stopped and the price decreased and erased its recent gains. The yellow metal spent the European session at the lower end of the trading range. Gold futures remained in-between the 50 and 100 EMAs in the 1 hour chart. The moving averages extended their bearish slope. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. The RSI remained close to the oversold levels. Trading recommendations The neutral phase will remain intact in the nearest time. The yellow metal will move between levels 1260 and 1250. We think the price will grow towards 1260 first. Brent General overview Brent futures edged lower on Monday amid a stronger dollar and rise in US drilling rig number. Current situation Brent is turning bearish in the 4 hours chart. After a short-lived recovery in the Asian session the Brent price bounced downwards from the 52.00 mark on Monday. Sellers pushed the prices lower towards the immediate support 51.50 which slowed down its decline. The 50-EMA acted as a resistance and stopped the growing momentum, rejecting the price downwards in the 4 hours chart. The 50-EMA is turning neutral, the 100 and 200 EMAs maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI oscillator moved downwards. Trading recommendations We believe the price will keep battling with the 51.50 level. If the level holds oil prices will bounce back to 52.50. In the scenario where sellers break the level the Brent quotes move lower towards 50.50. DAX General overview European stocks opened lower on Monday when Pearson (media group) and Marine Harvest (sea products producer) shares decline weighed on stocks. Current situation DAX index gapped downwards on Monday. The price jumped from the mark 10575 to 10538. The price briefly strengthened and was able to erase its losses. However, the recovery turned out to be short-lived and DAX soon turned around. Prices decreased to the 10500 level region during the European hours. The price is sandwiched between the 50-EMA on the one side and the 100 and 200 EMAs on the other. The 50-EMA acts as a resistance, the 100 and 200 EMAs provide a strong support for the index. The 50 and 100 EMAs are moving downwards, the 200 EMA is slightly bullish. The resistance is seen at 10600, the support is at 10500. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI oscillator moved downwards. Trading recommendations As the most probable scenario, we expect the 10500 level breakthrough and further moving downwards towards the mark at 10430. S&P500 General overview Wall Street opened lower as expectations over the Fed's next monetary policy action remained a key determinant for the stocks. Investors prepared for a week full with corporate earnings reports. Current situation The index started the week with a recovery. S&P500 moved higher towards 2130 and was able to erase some of its losses during the Asian and European sessions on Monday. Buyers failed to retake the level and S&P500 sharply decreased at the beginning of the New York session. Prices broke upwards the 50-EMA and shortly pierced the 100-EMA in the 1 hour chart. The index failed to hold its gains and decreased back below the moving averages in the mentioned timeframe. The moving averages (50, 100 and 200) maintained their bearish slope. The resistance is seen at 2130, the support is at 2120. MACD remained at the same level which indicates the sellers’ strength. The RSI remained within negative levels. Trading recommendations The price traded in a descending channel, staying close to its upper limit. A move above the range will weaken sellers’ positions. An uptrend will start as soon, as the S&P500 rises above the resistance level 2140. The index will extend its losses towards 2110 after breaking the support 2120. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 17.10.2016 Euro General overview The US dollar strengthened due to revived hopes of a rate hike by the Fed in 2016. Investors waited for Janet Yellen's speech expecting fresh hints on the Fed's rate hike outlook. Current situation The EUR/USD tested the level 1.1000 again. The mark 1.0984 rejected its first attempt to break the level. The price bounced off the level, however, the recovery was short-lived and stopped around 1.1050 where the euro got under selling pressure. Sellers pushed the price lower and broke the 1.1000 level in the North American session. The price bounced downwards from the 100-EMA and moved below the 50-EMA in 1 hour chart. The 50-EMA acted as a resistance for the price. All moving averages are heading lower. The resistance comes in at 1.1000, the support stands at 1.0950. MACD is in the negative area. The histogram decreased which confirms strength of sellers. RSI remained in the oversold area. Trading recommendations The overall sentiment remains negative. A break below 1.1000 would open the way to 1.0950. To trigger recovery we need a daily closing above 1.1050. Pound General overview The pound strengthened on the back of the better-than-expected Housing Price Balance in the UK. Current situation The pound failed to break the 1.2100 level, the price reversed and strengthened to 1.2300. However, the recovery was short-lived and the price eased to 1.2200 where the GBP/USD spent the whole day. According to the 1 hour chart the 100-EMA did not let the price to go higher, the moving average rejected the pound downwards. The price is around the 50-EMA which provides a solid resistance for the sterling. The 50, 100 and 200 EMAs maintained their bearish slope. The current resistance is seen at 1.2300, the support lies at 1.2200. The MACD histogram decreased which indicates the sellers’ strength. RSI indicator is holding near oversold levels. Trading recommendations The overall structure remains bearish. However, we do not exclude another leg up towards the 1.2400 resistance region. The nearest sellers' target remains the support level 1.2100. Yen General overview The dollar strengthened following the upbeat Chinese CPI report. The dollar got stronger when the last Fed’s minutes reaffirmed investors’ expectations about the Fed rate-hike. Current situation The USD/JPY preserved its positive tone on Friday. The pair was able to extend its buying momentum above 104.00. The price added about 0.64% during the trades of the day. The prices decreased by the end of the trades. The USD/JPY pair bounced from the 100-EMA upwards in the 1 hour chart. The price broke through the 50-EMA and moved away from the moving averages in the mentioned timeframe. All moving averages are pointing higher. The resistance can be found at 105.00, the support comes in at 104.00. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is within the overbought area. Trading recommendations The pair can establish a fresh 11-week high if the upward momentum persists. The price is trending towards the 105.00 resistance area. If the bearish pressure prevails the USD/JPY will return below 104.00. USD/CAD General overview The US dollar weakened against its Canadian rival. However, its losses will be limited, the US dollar is supported across the board by the market’s hopes of the Fed rate-hike this year. Current situation The USD/CAD pair opened on a weaker note on Friday. The pair erased all its recent recovery gains and moved lower during the day. The price moved below 1.3250 and approached the 1.3150 level at the beginning of the New York session. Sellers managed to break the level during the North American hours. The pair is struggling with the 200-EMA which stopped its downward movement. The 50, 100 and 200 EMAs are turning down in the 4 hours chart. The resistance is at 1.3150, the support stands at 1.3050. MACD is in the negative area. MACD decreased which indicates that sellers are getting stronger. The RSI oscillator moved downwards. Trading recommendations A close below 1.3150 will trigger losses towards 1.3120 where the 200-EMA lies. A cut through here will aim the USD/CAD at the 1.3050 level. XAUUSD General overview Gold prices weakened against the US dollar due to the strong US Retail Sales and Producer Price Index. Current situation Gold prices traded sideways during the European session amid lack of market movers on Friday. The yellow metal went back and forth in a range. A recovery towards the level 1260 switched to a decline back to 1250 dollar per ounce. The price was unable to break the 100-EMA in 1 hour chart. The line rejected the XAU/USD pair downwards. Gold futures moved below 50-EMA which provides a current resistance for the price. The 50, 100 and 200 EMAs extended their decline in the same chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. MACD decreased which confirms the sellers’ strength. RSI indicator consolidated near oversold levels. Trading recommendations A break above 1260 dollar per ounce would open the way to 1270. Alternatively, a move below the immediate support would suggest a resumption of the bearish trend towards 1240 dollar per ounce. Brent General overview Oil prices grew on Friday amid OPEC's plans to cut output. Meanwhile, some investors are skeptical that the OPEC deal will be efficient enough to stabilize prices. Current situation Oil prices extended their recovery mode on Friday. Brent continued rallying; buyers led the price from the mark 50.86 towards the resistance at 52.50 dollars per barrel where the upward momentum stalled. The price bounced from the bullish 50-EMA in the 4 hours chart. The moving averages maintained their bullish slope. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI oscillator remained neutral. Trading recommendations The bullish momentum run out of steam. The bearish views are getting more popular. The price is expected to decline towards 51.50. After breaking the level Brent quotes may decrease further towards 50.50. DAX General overview European stocks opened higher on Friday following the China’s CPI positive report. Current situation The index had a positive day on Friday. DAX continued its Thursday's recovery and extended its gains during the European hours. Buyers drove the price to 10600 where DAX seems to have found a strong resistance. After touching the level the price rolled back. The price broke the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are mixed with 50 and 200 EMAs going lower and the 100-EMA moving north. The resistance is seen at 10600, the support is at 10500. MACD grew which indicates the sellers’ positions weakening The RSI oscillator moved upwards. Trading recommendations Bullish sentiments are popular now. Once we break above the 10600 level, we think that the 10700 level will be next. NASDAQ General overview Wall Street traded higher on Friday after positive bank earning reports and on the back of the positive US statistics. Current situation The index extended its recovery on the European trade on Friday. Traders pushed the price higher and could escalate up to 4845 where the 50-EMA stopped the upward momentum. The price pierced the line and roll back below the 200-EMA ahead of the US opening. The 200-EMA is neutral, the 50-EMA is crossing the 100-EMA downwards. The resistance is seen at 4835, the support is at 4800. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI is within the neutral area. Trading recommendations NASDAQ had a negative day on Friday. If the negative tone prevails the index will test 4800 and may drop to 4770. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 14.10.2016 Euro General overview The dollar strengthened when the latest FOMC minutes reaffirmed investors’ expectations of a Fed rate-hike in the current year. Current situation The EUR/USD opened on a stronger note on Thursday. The price retreated from the current low at 1.1000 and recovered to 1.1040 in the Asian session. The U.S. currency returned control of the flows in early Europe trade. The euro gave up its recent gains and declined. The EUR/USD moved downwards and pierced the level 1.1000. The price failed to move lower, the EUR/USD bounced from the three-month low mark at 1.0990 and reversed some of its losses post-European open. The moving averages maintained their decline in the 4 hours chart. The resistance comes in at 1.1050, the support stands at 1.1000. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. The MACD shows a convergence in the 1 hour chart. RSI indicator is holding near oversold levels. Trading recommendations If the price makes another attempt and this time consolidates below the 1.1000 support area then we could see a decline towards 1.0950. The next sellers' target is the level 1.0900. The EUR/USD may extend its recovery towards 1.1100. Pound General overview The dollar strengthened after the Fed’s minutes publication. The pound kept losses due to weaker Europeans stocks and oil prices. Current situation Sellers continued to dominate. The cable remained under selling pressure on Thursday. The GBP/USD pair spent the day around the recent low – 1.2100. The price is developing below the 50, 100 and 200 EMAs which extended their decline. The current resistance is seen at 1.2200, the support lies at 1.2100. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI indicator is holding near oversold levels. Trading recommendations If the selling pressure persists the GBP/USD will remain focused on a potential test of 1.2100. Should this mark be reached successfully, a further extension towards 1.2000 could be observed further. Yen General overview The yen strengthened against the US dollar on the back of the weaker-than-expected Chinese data. Current situation The USD/JPY remained in a short-term ascending channel. The price retreated from the new weekly high and returned below 104.00. The downward pressure faded at 103.50 where the price turned around and was able to reverse some of its losses. The USD/JPY returned to 104.00 trying to regain the level. The price remained above the moving averages in the 4 hours chart. The 50, 100 and 200 maintained their bullish slope. The resistance can be found at 104.00, the support comes in at 103.00. MACD is in the positive area. The histogram decreased which indicates the buyers’ positions weakening. RSI is heading south. Trading recommendations If the resistance around 104.00 holds, then a move down to 103.00 is possible. NZD/USD General overview The kiwi remained weak due to Chinese trade data and ongoing weakness in oil prices. Current situation Sellers continued to dominate in the market. The NZD/USD pair extended its weakness on Thursday. The downward momentum faded a few pips below 0.7050. The price grew and reversed early losses. The overall picture is bearish and we believe that the current rebound does not have any legs. The moving averages extended their decline in the 4 hours chart. The resistance is at 0.7120, the support stands at 0.7050. MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. The RSI oscillator moved upwards from the oversold area. Trading recommendations The level 0.7050 seems the next probable bearish target. A break below the level will suggest further weakness towards 0.6980. XAUUSD General overview Gold prices grew on Thursday on the back of the weaker-than-expected Chinese trading data. Chinese trade balance data renewed worries of an economic slowdown in the country. Current situation The XAU/USD pair remains neutral in the short term. The price continued its rebound from the strong psychological level 1250 dollar per ounce. Gold prices erased the early losses, however, the upward impetus faded at 1260 in the lack of market mover. The moving averages maintained their bearish slope in the 4 hours chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. The RSI oscillator moved upwards. Trading recommendations The price is in a flat. A break above or below the current levels will determine further direction of the yellow metal. A daily close above 1260 will open the way towards 1270-1275. A move lower shall extend losses towards 1240. Brent General overview Brent prices decreased after the OPEC report that output levels reached eight-year high. According to AIP US crude inventories rose in the week to October 7. Current situation Brent prices extended the downside in the Asian session on Thursday. However, the 51.50 support limited its further weakness, the price bounced off the level and reverted some of its early losses at the beginning of the European session. Brent futures remained in the upward middle-term channel, close to its lower limit. Despite the three-day decrease the price is still in the green figures. The 50-EMA failed to stop the further weakness of Brent prices, the price mobbed lower. The moving averages keep heading higher with the 50 and 100 EMAs crossing the 200-EMA. The resistance is at 51.50, the support comes in at 50.50 dollars per barrel. MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI is within the neutral area. Trading recommendations Oil prices may extend the recovery towards 52.50. Conversely, a downtrend will start as soon, as Brent drops below the support level 51.50. DAX General overview European stocks opened lower on U.S. rate hike talk. Weak Chinese Trade balance report renewed concerns over the world strength of the economy. Current situation DAX gapped lower at the beginning of the day, the price dropped from 10530 to the mark 10430. The index continued to move lower during the day. DAX set a weekly low at 10348. The price broke the 50, 100 and 200 EMAs downwards and moved away from them. The moving averages present a slightly bearish slope in the 4 hours chart. The resistance is seen at 10400, the support is at 10300. MACD is in the negative area. The MACD histogram decreased which indicates the sellers’ strength. RSI is in the oversold area. Trading recommendations The market switched to bearish tone. We believe that the next level to focus on is 10300. S&P500 General overview Wall Street opened lower on Thursday. Investors digested the weak Chinese data and prepared for the US releases and Crude Oil Stocks report. Current situation S&P500 had a negative day on Thursday. The price made a good break lower. Sellers dragged the price from the level 2130 towards the mark 2110 (the daily low). The price broke the level 2120 on its way down. The downward momentum faded at 2110, the price grew back to 2120, reversing some of its losses. The 50, 100 and 200 EMAs are heading lower, around the 2150 region. The 50-EMA is crossing the 100-EMA downwards. The resistance is seen at 2120, the support is at 2107. MACD is in the negative area. The MACD histogram decreased which indicates the sellers’ strength. RSI is within the oversold area. Trading recommendations If the price closes below 2120 the index can extend its losses towards 2107. If the level 2120 holds the prices may recover back towards 2130. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 13.10.2016 Euro General overview The EUR/USD traded lower on the back of the renewed speculation that the Fed will hike the rate this year. The euro weakened despite positive ZEW Surveys. Current situation The euro remained vulnerable on Wednesday. The single European currency extended its losses below 1.1070 and approached the lowest level since July 27. The 50, 100 and 200 EMAs extended their decline, currently around the 1.1150 region. The 50 and 100 EMAs crossed the 200-EMA downwards in the 4 hours chart. The resistance comes in at 1.1070, the support stands at 1.1000. MACD remained in the negative area. The MACD histogram decreased which indicates the sellers’ strength. RSI indicator held near oversold levels. Trading recommendations The EUR/USD is oversold short term. The pair approached the critical 1.1000 figure during the European trades. If the price breaks the level 1.1000 it may extend its losses towards 1.0960. In case of recovery, we will see the EUR/USD pair growing towards the 1.1100-1.1120 region. Pound General overview The GBP/USD was able to strengthen when Theresa May’s (the UK PM) allowed the Parliament to vote on her plans to Brexit. Current situation After a short-lived recovery during the Asian session the pound returned to a sell-off being unable to reclaim 1.2300. The level 1.2300 rejected the price downwards. The GBP/USD broke 1.2200 and moved lower towards 1.2100. The 50, 100 and 200 EMAs accelerated their decline. The current resistance is seen at 1.2200, the support lies at 1.2100. The MACD histogram decreased which indicates the sellers’ strength. RSI indicator is holding near the oversold levels. Trading recommendations A bearish tone prevailed in the 4 hours chart. We will sell the GBP/USD until it stays below 1.2470. A daily close above this level will indicate that the current bearish phase is over. Yen General overview Haruhiko Kuroda confirmed on Wednesday that the regulator was ready to ease its policy if necessary. Current situation After a recovery during the Asian hours the USD/JPY stabilized around 103.50 on Wednesday. The physiological 104.00 level turned out to be a tough nut to crack. There have been two attempts to break it and both of them failed. The pair remained above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages slowed down their growth, staying around the 102.50 region. The resistance can be found at 104.00, the support comes in at 103.00. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. The RSI oscillator moved upwards. Trading recommendations Bulls still plan to retake the 104.00 level. A clear break above the level will send the USD/JPY pair towards the September high at 104.30. Alternatively, a move below 103.50 shall weaken buyers’ positions. The pair will decline towards the mark 102.80. AUD/USD General overview The commodity currencies strengthened following oil prices growth. Current situation After testing the lowest low since September 20 the pair had a sharp recovery in the Asian session on Wednesday. The Aussie was able to reverse the majority of its losses recorded on Tuesday. However, the bullish spike was short-lived, the AUD/USD pair remained under pressure. The price faced a downward pressure at the beginning of the New York session. According to the 4 hours chart the moving averages stopped the upward momentum. The moving averages narrowed maintaining their bearish slope. The 50-EMA is crossing the 100 and 200 EMAs downwards. The resistance is at 0.7600, the support stands at 0.7540. MACD is in the negative area. MACD decreased which indicates the sellers’ strength. The RSI oscillator moved downwards. Trading recommendations The bearish trend remained intact. We believe the price will return to 0.7540 first. The next level to focus on is 0.7500. XAUUSD General overview Gold prices slightly strengthened on Wednesday supported by US rate hike expectations and FOMC minutes. Current situation The 4 hours chart for the pair presents a moderate bearish potential. The pair failed to regain the resistance level 1260 and declined towards the psychological level 1250. Gold futures moved lower amid broad based dollar strength. The 50, 100 and 200 EMAs advanced south in the 4 hours chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI indicator remained near the oversold levels. Trading recommendations The level 1250 remained the initial barrier and first trigger to move lower. If the pair manages to make a breakout the next target for this pair is the support level of 1240. In the event that the buyers manage to force above 1260 the XAU/USD may grow towards 1270. Brent General overview Oil prices moved lower on Wednesday ahead of the Fed minutes and the weekly report on US crude oil stockpiles by the API. Current situation Brent futures lost ground on Wednesday. Buyers were unable to move the price higher. Oil prices got under selling pressure and the prices dropped towards 51.50 at the NY open. Brent price is struggling with the 50-EMA which blocks its further downward movement. The 50, 100 and 200 EMAs kept moving higher in the 4 hours chart. The resistance is at 52.50, the support comes in at 51.50 dollars per barrel. The MACD histogram decreased which is a sell signal. RSI is going downwards which confirms the strength of sellers. Trading recommendations The downward views are getting more popular. We expect the price to break 51.50 and to extend its losses towards 50.50. DAX General overview The sentiment on the European markets worsened on Wednesday following Ericsson shares decline. Investors were cautious ahead of the Fed minutes publications. Current situation DAX gapped higher at the beginning of the day. The price jumped from 10550 to the 10600 level where the price turned around and moved lower. DAX was struggling with the 10500 level during the NY session. The price broke the 200 EMA and touched the 50-EMA in the 4 hours chart. The 100 and 200 EMAs are moving lower. The 50-EMA direction is upwards. The resistance is seen at 10600, the support is at 10500. MACD remained in the positive area. MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards. Trading recommendations A break below 10500 will weaken buyers’ positions and will allow sellers to test 10400. If the level holds the price will recover towards 10600. NASDAQ General overview Wall Street opened lower ahead of the Fed minutes publications. Current situation The index recovered in the Asian session on Wednesday However, its recovery was limited by the 2140 resistance. Prices bounced off the level and moved lower. NASDAQ traded around 2130 before the Fed meeting. The index is below the moving averages in the 4 hours chart. The moving averages maintained their moderately bearish slope. The resistance is seen at 2140, the support is at 2130. MACD is in the negative area. The MACD histogram decreased which indicates the sellers’ strength. RSI is within the oversold area. Trading recommendations The price needs to break 2130 to move south. Should NASDAQ recover ground and advance beyond 2140 the index may extend its gains towards 2150. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 12.10.2016 Euro General overview The EUR/USD traded lower on Tuesday on the back of the strong dollar. The revived hopes for the Fed rate-hike supported the US currency. The euro ignored the positive Economic Sentiment report in Germany. Current situation The pair opened on a weaker note on Tuesday. The euro continued to lose its value. The EUR/USD pair faced a selling pressure and softened towards 1.1100. After reaching the level the price broke it and continued its decline. The moving averages are heading lower in the 4 hours chart. The 50 and 100 EMAs crossed the 200-EMA downwards. The resistance comes in at 1.1100, the support stands at 1.1070. MACD remained in the negative area. The MACD histogram decreased which indicates the sellers’ strength. RSI is going south which confirms the current downward movement. Trading recommendations The pair maintained its bearish tone. We prefer to sell towards the next support level 1.1070. We do not exclude a recovery towards 1.1130. Pound General overview The pound remained under pressure on Tuesday due to hard-Brexit concerns. Current situation The pound preserved a negative sentiment on Tuesday. The GBP/USD has declined the second day in a row. The price moved towards 1.2200 through the 1.2300 level. The sterling has lost about 0.66% during the trades. The 50, 100 and 200 EMAs extended their decline. The current resistance is seen at 1.2400, the support lies at 1.2300. MACD remained at the same level which confirms the strength of sellers. The RSI oscillator is consolidating within negative are. Trading recommendations The pair will continue a downtrend as soon as it breaks below 1.2300. The 1.2200 level seems the next probable bearish target. Yen General overview The dollar strengthened across the board due to the possibilities of an eventual Fed rate-hike in 2016. Current situation The pair remained positive on Tuesday. The prices hold onto recent gains, struggling with the 104.00 resistance level. The USD/JPY continues developing well above the 50, 100 and 200 EMAs. The moving averages direction is upwards. The resistance can be found at 104.30, the support comes in at 103.50. MACD is in the positive area. The histogram decreased which indicates the buyers’ weakening. The RSI oscillator moved downwards from the overbought area. Trading recommendations There is a potential for a roll back towards 103.00 due to the absence of strong drivers. The price will move down if the level 104.00 holds. USD/CAD General overview The USD/CAD pair opened higher on Tuesday amid oil price weakening. Current situation Market’s positive mood persisted on Tuesday. Having recovered after a sharp decrease on Monday, the USD/CAD pair extended its near-term upward trajectory. According to the 4 hours chart the dollar bounced from the 100-EMA which acted as a support for the price. The pair broke the 50-EMA on its way upwards and moved away from the moving averages in the same chart. All moving averages maintained their bullish slope. The resistance is at 1.3300, the support stands at 1.3200. MACD decreased which indicates the buyers’ positions weakening. RSI is neutral. Trading recommendations The bullish views are still popular on the market. The USD/CAD pair now seems to be heading towards its immediate resistance at 1.3300. A daily closing below the current support will give sellers a chance to move the price lower towards 1.3100. XAUUSD General overview The renewed risk aversion sentiment supported the dollar and weighed on gold prices. Current situation The bearish scenario prevailed on Tuesday. Gold prices got under selling pressure after a short-lived recovery in the Asian session. The yellow metal moved from the daily high at 1265 towards the level 1250. The moving averages kept moving lower in the 4 hours chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI indicator was holding near oversold levels. Trading recommendations The pair XAU/USD looks bearish. We expect a breakout of 1250 and a move lower towards 1240. Brent General overview Brent futures softened on Tuesday hit by OPEC deal concerns. Current situation The price gave up its recent gains and declined on Tuesday. Oil prices got under selling pressure and moved lower towards 52.50 where the downward pressure weakened. Brent remained above the moving averages in the 4 hours chart. The 50-EMA accelerated its growth, the 100 and 200 EMAs are moderately bullish. The 100-EMA crossed the 200-EMA upwards. The resistance is at 53.50, the support comes in at 52.50 dollars per barrel. MACD remained in the positive area. RSI consolidated within the overbought area. Trading recommendations A move below 52.50 will send Bren prices towards 51.50. A move higher will open the way towards 54.50. DAX DAX traded mixed on Tuesday. Investors expect new clues over the Fed rate hike and OPEC deal to cut production. Current situation DAX gapped downwards on Tuesday, but failed to move lower. The price pierced the level 10600, turned around and grew above the level. DAX extended its gains up to 10700 where the bullish spike faded and prices slightly moved back. The 200-EMA is neutral in the 4 hours chart, while the 50 and 100 EMAs are moving lower. The resistance is seen at 10600, the support is at 10500. MACD grew which indicates the buyers’ positions strengthening. The RSI traded within positive territory. Trading recommendations In the scenario where buyers keep control the price is expected to rise towards 10700. Alternatively, a break below 10600 will lead the price towards 10500. S&P500 General overview Wall Street opened lower on Tuesday as oil prices decline weighed on energy stocks. Current situation The index retreated from the recent high ahead of the US opening. S&P500 suffered a short lived downward movement towards 2150. Prices bounced from the 200-EMA in the 4 hours chart. S&P500 is between 50 and 200 EMAs now. All moving averages kept heading lower. The resistance is seen at 2165, the support is at 2150. MACD decreased which indicates the buyers’ positions weakening. RSI is within the neutral area. Trading recommendations After breaking through 2150 support, the index will most likely move down to around the 2140 mark. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman

"Fort Financial Services"- fundamental and technical analysis. 11.10.2016 Euro General overview Japanese, Canadian and USA markets were closed. The dollar strengthened after the second U.S. Presidential debates where Mrs. Clinton emerged victorious as Mr. Trump’s reputation was damaged after a leak of a video where he insulted women. Current situation The common European currency is again under pressure. The level 1.1200 stopped its recovery, the price turned around and headed towards 1.1150. The EUR/USD is still in a descending channel, moving to its lower trend line. The 50, 100 and 200 EMAs protected the level 1.1200. The price bounced from them and moved downwards in the 4 hours chart. The resistance comes in at 1.1200, the support stands at 1.1150. The MACD histogram decreased which is a sell signal. RSI headed towards the negative levels. Trading recommendations If the downward pressure persists the EUR/USD may retest the level 1.1150. A clear break below the level will open the way towards last week low mark at 1.1100. Pound General overview The British pound is under pressure the second week in a row. The positive UK data was not able to support the sterling. Current situation The pound was inactive on Monday, trading lower after turbulent Friday’s trades. The sterling was attempting to consolidate around 1.2400 during the trades on Monday. The 50, 100 and 200 EMAs slowed their downward movement in the 4 hours chart. The moving averages kept pointing lower. The current resistance is seen at 1.2500, the support lies at 1.2400. MACD shows a divergence in the 4 hours chart. MACD decreased which confirms the strength of sellers. RSI remained within negative territory. Trading recommendations The GBP/USD is oversold, trading will be according to technical factors, due to the absence of strong drivers. If the price rebounds from the current support the currency pair will grow towards 1.2600. A downward pressure will send the quotes towards the historical lows at 1.2000. Yen General overview The dollar kept strengthening across the board on expectations that the Fed will hike rate this year. Current situation The trend is clearly bullish for now. The USD/JPY pair was in buy mode on Monday. The pair has completed a downside impulse, the price bounced from the mark 102.90 and moved higher. The pair recovered all its losses during the European hours. According to the 4 hours chart, the price is in a mid-term ascending channel, moving upwards from its lower limit. The 50-EMA extended its growth, the 100 and 200 EMAs are moderately bullish in the mentioned timeframe. The resistance can be found at 103.50, the support comes in at 102.50. MACD shows a divergence in the 1 hour chart. The MACD histogram grew which indicates the buyers’ strength. RSI moved towards the overvalued territory. Trading recommendations The indicators recommend long positions, suggesting the pair is to grow further. Buyers seem to plan to re-test 103.50 and to move higher towards last week high at 104.14. NZD/USD Current situation Technically, the pair preserved its near-term downward trajectory. The NZD/USD pair gapped higher on Monday. The price was able to recover to 0.7180, where sellers turned it around. The kiwi was falling during the Asian and European sessions and reached the level 0.7120 at the beginning of the New York session. In the 4 hours chart the 50, 100 and 200 EMAs moved lower. The 50 and 100 EMAs crossed the 200-EMA downwards. The resistance is at 0.7200, the support stands at 0.7120. MACD remained at the same level which confirms the strength of sellers. RSI remained within the oversold territory. Trading recommendations A beak below 0.7120 will extend losses towards 0.7050. To strengthen the NZD/USD needs to have a daily close above 0.7250. Meanwhile, any move above the current support we consider as corrective. XAUUSD General overview Gold recovered on Monday despite Cleveland Fed President’s speech where he supported the idea of a U.S. rate hike in 2016. Current situation Gold gapped higher at the start of the new week. The price extended its recovery on Monday after a sharp decrease on Friday. The XAU/USD broke the level 1260 upwards and slowed down a few pips above it. The pair slightly eased at the NY open. The moving averages maintained their decline in the 4 hours chart. The resistance is at 1260, the support comes in at 1250 dollar per ounce. MACD grew which indicates the sellers’ positions weakening. RSI remains within oversold levels. Trading recommendations A move below 1250 will signal the return of sellers. The yellow metal may extend its losses towards 1240. Brent General overview Oil prices grew on Monday when Russia said to support the global production freeze. Current situation The bullish scenario prevailed on Monday. After a gap lower at the beginning of the Asian session Brent prices bounced off the support 51.50 dollars per barrel and trended upwards. Oil prices extended their gains during the day, the quotes broke the level 52.50 and touched 53.50. Brent hit one-year high during NY trading session. Prices continued developing well above the bullish 50, 100 and 200 EMAs. The moving averages accelerated their growth. All moving averages direction is upwards. The resistance is at 53.50, the support comes in at 52.50 dollars per barrel. MACD shows a divergence in the 4 hours chart. MACD remained in the positive area. The histogram grew which is a buy signal. RSI approached the overbought area. Trading recommendations Bulls fought back control and pushed the price higher on Monday. Their primary goal is the level 54.50 dollars per barrel. DAX Current situation DAX gapped downwards on Monday, but failed to move lower. Prices refreshed a daily low at 10430, turned around and rallied towards 10600. DAX broke the level 10500 on its way upwards. After touching the level 10600 the price slowed down and remained around the level. The moving averages retained mixed signals yesterday. The 100-EMA is steadily bearish, the 50-EMA has just turned down, the 200-EMA is neutral. The resistance is seen at 10600, the support is at 10500. MACD grew which indicates the buyers’ positions strengthening. The RSI oscillator moved upwards. Trading recommendations If the upwards pressure persists the price will break the level 10600 to extend its gains. If DAX fails to reclaim the level prices may fall below 10500. NASDAQ General overview Wall Street opened higher on Monday fallowing the results of the second presidential debate. Moreover, oil prices growth supported energy stocks and boosted investor appetite for riskier assets. Current situation After a quite mode during the Asian hours on Monday the index rallied in the European session and was able to refresh the historical high at the start of the NY session. Buyers were able to push the price higher from the level 4865 towards 4900. The 50, 100 and 200 EMAs maintained their bullish slope in the 4 hours chart. The moving averages accelerated their growth. The resistance is seen at 4900, the support is at 4865. The MACD histogram grew which indicates the buyers’ strength. RSI approached the overbought levels. Trading recommendations The overall outlook remains bullish, for a rise towards 4940 resistance area. A close below 4865 will trigger losses towards 4835. *Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman