"Fort Financial Services"-fundamental and technical analysis

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

17.08.2016

 

EURUSD

 

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

 

 

USD / JPY:

 

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

 

 

XAUUSD:

 

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

 

 

BRENT

 

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

 

 

S@P 500

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

18.08.2016

 

EUR / USD

 

General overview

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

JPY / USD

 

General overview

 

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

 

Trading recommendations

 

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

 

 

XAU / USD

 

General overview

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

BRENT OIL

 

General overview

 

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

 

Trading recommendations

 

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

 

 

SP 500

 

General overview

 

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

 

Current situation

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

19.08.2016

 

EUR / USD

 

General overview

 

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

 

Current situation

 

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

Trading recommendations

 

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

 

 

JPY / USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

XAU / USD

 

General review

 

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

 

Trading recommendations

 

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

 

 

AUD / USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

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

 

 

NZD / USD

 

General review

 

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

 

Trading recommendations

 

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

 

 

BRENT

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

22.08.2016

 

EUR/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

JPY/USD

 

General review

 

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

 

Trading recommendations

 

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

 

 

XAU/USD:

 

General review

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General review

 

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

23.08.2016

 

EUR / USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

USD / JPY:

 

General review

 

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

 

Current situation

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

 

Trading recommendations

 

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

 

 

AUD / USD

 

General review

 

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

 

Current situation

 

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

 

 

XAU/USD:

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General review

 

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

Current situation

 

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

 

Trading recommendations

 

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

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

24.08.2016

 

EUR/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

JPY/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

XAU/USD:

 

General review

 

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

 

Current situation

 

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

Trading recommendations

 

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

 

 

AUD / USD:

 

General review

 

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

 

Trading recommendations

 

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

 

 

BRENT:

 

General review

 

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

25.08.2016

 

EUR/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendation

 

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

 

 

JPY/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendation

 

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

 

XAU/USD:

General review

 

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

 

Current situation

 

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

Trading recommendations

 

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

 

 

AUD / USD:

 

General review

 

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

 

Trading recommendations

 

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

 

 

BRENT:

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

26.08.2016

 

EUR/USD

 

General review

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

JPY/USD

 

General review

 

The market situation in USD/JPY currency pair has not changed.

The pair continues to consolidate within the channel 99.90-100.79. Yesterday the pair USD / JPY,  has once again pushed off the bottom border.

 

Trading recommendations

 

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

 

 

AUD / USD

 

General review

 

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

 

Trading recommendations

 

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

 

 

XAU/USD

 

General review

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General review

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

 

Current situation

 

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

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

29.08.2016

EUR / USD

 

General overview

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

USD / JPY:

 

General overview

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

AUD / USD:

 

General overview

 

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

Trading recommendations

 

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

 

NZD / USD:

 

General overview

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

XAUUSD:

 

General overview

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Trading recommendations

 

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

 

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

30.08.2016

 

Euro

 

General overview

 

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

Current situation

 

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

 

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

 

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

Trading recommendations

 

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

 

 

Pound

General overview

 

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

 

Current situation

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

 

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

 

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

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

 

Trading recommendations

 

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

 

 

AUD/USD

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

Current situation

 

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

 

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

 

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

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

 

Trading recommendations

 

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

 

 

S&P 500

 

General overview

 

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

Current situation

 

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

 

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

 

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

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

31.08.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

 

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

Trading recommendations

 

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

 

 

NZD/USD

 

General overview

 

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

 

Current situation

 

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

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

The tone is still negative in the market, the pair closed bearish yesterday. Sellers met a solid support at the 1316 mark which were not able to break at once. The price rolled back to 1325.40 where the XAU/USD turned around and returned back to the support level. The resistance is at 1330, the support comes in at 1316.

 

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

 

The 50, 100 and 200 EMAs present a strong bearish slope. The moving averages are trending downwards which is a sell signal.

 

Trading recommendations

 

The XAU/USD is now under the risk of falling under the level of 1316. A break below this mark risks a decline back towards the support at 1310.

 

Brent

 

General overview

 

Traders focused on the weekly report on U.S stockpiles of crude and refined products. Better-than-expected U.S. Consumer Confidence index supported the dollar and weighed on Brent futures.

 

Current situation

 

Brent showed low volatile trades during Asian and European sessions on Thursday. The instrument became active in the American session where the price had a sharp drop from the resistance 49.50 to the support at 48.50. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.

 

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

 

Brent futures bounced from the 50-EMA and approached the 100-EMA in the 4 hours chart. The 50-EMA is neutral, the 100 and 200 EMAs are pointing upwards. The moving averages do not give a clear signal.

 

Trading recommendations

 

We are bearish on the Brent. All eyes are right now at the support level 48.50. If Brent break the level, the price may fall to the 47.50 level.

 

 

Nasdaq

 

General overview

 

Wall Street traded lower on Thursday as traders waited for new clues for the possible rate hike from the Fed.

 

Current situation

 

The technical picture presents a bearish tone. Bears are gradually gaining more overall control. Traders led the price from the level 4800 to the support at 4770. The instrument bounced from the 100-EMA in the 4 hours chart. The 50-EMA is crossing the 100-EMA downwards. The 100 and 200-EMAs are trending upwards, the 50-EMA is pointing downwards. The resistance is seen at 4800, the support lies at 4770.

 

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

 

Trading recommendations

 

If Nasdaq makes a breakout of 4770 that may trigger an additional downward momentum towards 4740.

 

 

S&P 500

 

Current situation

 

The index had a negative day on Thursdays. The price moved away from the resistance 2180 towards the support at 2165. The instrument bounced downwards from the 50 and 100 Day EMAs which are parallel to each other. The S&P500 is in-between the 200-EMA and the 100-EMA in the 4 hours chart. The resistance is seen at 2180, the support is at 2165.

 

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

 

Trading recommendations

 

The index now seems to be heading towards its immediate support near 2165. Break below 2165 would open the way to 2150

 

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

01.09.2016

 

Euro

 

General overview

 

A better-than-expected US ADP survey increased the prospect of the Fed interest rate hike.

 

Current situation

 

The dollar preserved a bullish tone across the board. The pair tested fresh 3-week lows on the back of a better-than-expected ADP private employment survey. In general, the EUR/USD stays in a downward channel, advancing south. The price moved away from the 50, 100 and 200 Day EMAs in the 4 hours chart. The 50 and 100 EMAs are moving downwards, the 200-EMA is just turning down. The MACD and RSI indicators maintain bearish slopes within negative territory. The resistance is seen at 1.1200, the support stands at 1.1130.

 

Trading recommendations

 

The price stays at the support 1.1130. If the EUR/USD pair breaks below this level, then this could lead to renewed selling momentum, possibly towards 1.1070.

 

 

Pound

 

General overview

 

Positive Consumer Confidence in the UK slightly supported the pound. The index came in at -7 vs. expectations of -8. However, a strong US ADP report weighed on the sterling and the pair resumed its decrease.

 

Current situation

 

The GBP/USD pair showed a mixed dynamics on Wednesday. At first the price grew in the Asian session, then, the instrument turned around and resumed its decrease in the European and North American ones. The current resistance is seen at 1.3100, the support exists at 1.3000.

 

The indicators (MACD and RSI) generate a sell signal. The price is returning below the 50 and 100 EMAs in the 4 hours chart. The moving averages direction is downwards which is a sell signal. 

 

Trading recommendations

 

We are looking for the 1.3100 level break and then continuation of a fall with a further target at 1.3000.

 

 

Yen

 

General overview

 

The dollar grew vs. the yen due to the latest Fed officials’ comments and the release of encouraging US employment data.

 

Current situation

 

The pair had a positive day on Wednesday. The price kept advancing towards the 103.50 resistance. MACD is heading north within positive territory, RSI is in the overbought territory. The 50, 100 and 200 EMAs accelerated their advance north which is a buy signal. The resistance is at 103.50, the support comes in at 102.50.

 

Trading recommendations

 

According to the indicators the price is overbought. There is a risk towards the upside. After the break above 103.50, we may see the price extending up to the 104.50 level. In case of the upside the USD/JPY shall return below the 102.00 region.

 

 

USD/CAD

 

General overview

 

A better-than-expected US ADP Employment survey and disappointing Canadian GDP for Q2 weighed on the Canadian dollar.

 

Current situation

 

The pair resumed its bullish momentum and set a fresh 3-week high which is the highest level since August 10th. The USD/CAD could escalate up to 1.3133. MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is in the overbought territory. In the 4 hours chart the price is advancing from the moving averages which are turning upwards to follow the price. The resistance is at 1.3200, the support comes in at 1.3100.

 

Trading recommendations

 

We expect markets to stay fairly positive. In this potential scenario, the next stop for the USD/CAD could well be around 1.3150. Conversely, the instrument can turn around. In this scenario, sellers will push the price to the 1.3050 region.

 

 

XAUUSD

 

General overview

 

The XAU/USD traded close to the 2-month low level as investors awaited for the U.S. statistics to evaluate if its economy was ready for a rate hike. 

 

Current situation

 

The pair remained in a downward channel, close to its lower boundary. The instrument stayed below the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs accelerated their declines in the mentioned timeframe. All moving averages kept heading lower. The resistance is at 1316, the support comes in at 1300.

 

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

 

Trading recommendations

 

The pair presents a bearish tone, all indicators recommend short positions. If the gold futures preserve downward momentum its next stop could well be at the 1300 region.

 

 

Brent

 

General overview

 

The crude oil fell to the 3-week low when oil supplies in the U.S. rose for the second week in a row.

 

Current situation

 

The crude oil is under intense selling pressure. The sellers managed to lead the price from the resistance 48.50 to the level 47.50. The price did not remain at 47.50 and continued advancing south. MACD and RSI slightly changed from yesterday. The indicators generate a sell signal. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

 

The price broke the 100-EMA on its way down in the 4 hours chart. The instrument is approaching the 200-EMA now. The 50-EMA is moving down, the 100 and 200 EMAs are still heading north.

Trading recommendations

 

If the price keeps going down it will reach the level 46.50 soon.

 

 

DAX

 

General overview

 

European stocks moderately decreased, finishing the second month in a row with a growth.

 

Current situation

 

The index finished the day negatively despite the positive trend. The price stepped away from the weekly high at 10700. DAX is approaching the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are moving upwards. The resistance is seen at 10700, the support lies at 10520.

 

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

 

Trading recommendations

 

DAX may decrease to the support 10520 where the 50 and 100 EMAs lie.

 

 

S&P 500

 

General overview

 

American stocks opened lower on Wednesday as a strong dollar pressured on oil futures and materials companies. 

 

Current situation

 

The index was lower on Wednesday. The S&P500 retreated from the monthly high. Sellers pushed the price from 2180 towards the mark 2165. The price broke the 200-EMA. The 50, 100 and 200 EMAs are moving upwards. The resistance is seen at 2180, the support is at 2165.

 

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

 

Trading recommendations

 

In the medium term, the outlook is bearish. If the price keeps falling it will break the level 2165. The second sellers’ target is 2150.

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

02.09.2016

 

Euro

 

General overview

 

A weaker-than-expected U.S. Manufacturing PMI weighed on the dollar and supported the euro.

 

Current situation

 

In the short term our outlook is bullish. The dollar was in a flat ahead of the U.S statistics. The pair traded in a range between the support 1.1130 and the level 1.1160. After a weak Manufacturing PMI the price rallied and approached the mark 1.1200. The resistance is seen at 1.1200, the support stands at 1.1130. 

 

The EUR/USD pair is under 50, 100 and 200 EMAs which are moving downwards in the 4 hours chart. The 50-EMA is crossing the 100-EMA in the mentioned timeframe. The moving averages generate a sell signal. 

 

MACD shows a bullish divergence in the 1 hour timeframe. The RSI indicator headed towards the overbought area.

 

Trading recommendations

 

Technically the EUR/USD may reverse and grow towards 1.1200 and 1.1270. Otherwise, the instrument will continue falling with a target at 1.1070.

 

 

Pound

 

General overview

 

The pound rallied on the back of strong Manufacturing PMI in the UK.

 

Current situation

 

A better-than-expected Manufacturing PMI supported the GBP/USD pair. The price grew from the session lows at 1.3130 to the daily highs at 1.3270. The pair was also supported by a weak U.S. Manufacturing PMI later the day. The price finished the day in the 1.3220 region. The instrument approached 1.3360 at the start of the North American session. 

 

The price broke the 200-EMA and headed from it in the 4 hours chart. The moving averages direction is still downwards. The lines generate a sell signal. The current resistance is seen at 1.3360, the support exists at 1.3200.

 

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

 

Trading recommendations

 

As long as market holding above 1.3200 the uptrend pressure will continue towards 1.3360. Conversely, the price will return below 1.3200 and further below 1.3100.

 

 

Yen

 

General overview

 

The dollar remained closed to the 3-week highs ahead of the upcoming Non Farm Payrolls report. 

 

Current situation

 

In general, the pair had a positive day on Tuesday. The bullish views are still popular. The USD/JPY continued to advance north and set a new daily high at 103.80. The price slightly decreased at the start of the American Session after a weak statistics. The 50-EMA is crossing upwards the 100-EMA in the 4 hours chart. All moving averages are turning upwards in the mentioned timeframe. The resistance is at 103.50, the support comes in at 102.50.

 

MACD shows a bearish divergence in the 1 hour chart. RSI left the oversold area. 

 

Trading recommendations

 

The pair now seems to be heading towards the 104.00 level. Should the price fixate over that level and the upward trajectory will be continued to 104.50. However, the USD/JPY pair is overbought and may pull back a little. In this scenario, sellers will drag the price down below 103.50.

 

 

AUD/USD

 

General overview

 

A positive Chinese Manufacturing PMI supported the AUD/USD pair in the Asian session on Tuesday.  

 

Current situation

 

The AUD/USD was able to erase some of its losses in the Asian session on Tuesday. However, when sellers returned in the European session they dragged the price down. The AUD was able to recover in the American session on the back of the weaker-than-expected U.S statistics. The resistance is at 0.7540, the support comes in at 0.7470.

 

The 50-EMA crossed the 100 and 200 EMAs in the 4 hours chart. All moving averages are moving downwards. MACD decreased which confirms the strength of sellers. RSI is trending towards the overbought area.

 

Trading recommendations

 

If the AUD/USD remains below 0.7540 the price may test 0.7470. Controversially, the instrument will grow to the 0.7570 region.

 

 

XAUUSD

 

General overview

 

Gold futures traded close to the 2-month lows as traders took wait and see position before the NFP report. 

 

Current situation

 

The US currency took control of the flows. The gold remained under pressure on Tuesday’s trades. Sellers were able to push the price lower on Tuesday. The new session lows are marked in the 1300 region. The 50-EMA crossed the 100 and 200-EMAs in the 4 hours chart. The moving averages kept trending lower which is a sell signal. The resistance is at 1316, the support comes in at 1300 per ounce.

 

MACD grew which indicates the sellers’ positions weakening. RSI is heading towards the overbought territory. 

 

Trading recommendations

 

Technically, a bearish tone persists in the 4 hours chart. The XAU/USD remains focused on a potential test of 1300. In case of a correction, buyers may push the price to 1316 per ounce.

 

 

Brent

 

General overview

 

Brent kept falling after a rise in U.S. crude inventories. Moreover, traders focused their attention on a world supply glut which keeps weighing on the oil prices.

 

Current situation

 

The crude oil futures are under pressure. Sellers pushed the price from the session high at 47.23 below the support at 46.50. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

 

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

 

MACD and RSI are negative which is a sell signal.  

 

Trading recommendations

 

We believe that Brent can advance further below 46.50. However, the instrument is oversold and it may pull back a little. The price will continue a downtrend if it consolidates below 46.50. Alternatively, buyers can push the price towards the 47.00 region.

 

 

Nasdaq

 

Current situation

 

The index pulled back a little from the weekly highs. The price moved away from the 4800 level and approached the mark 4740. The instrument pulled back from the 50-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA. The 50 and 100 EMAs are neutral, the 200-EMA is pointing upwards. The resistance is seen at 4770, the support lies at 4740.

 

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

 

Trading recommendations

 

If the downward pressure persists Nasdaq will decrease to the 4750 region where it can pull back to 4800.

 

 

S&P 500

 

General overview

 

Wall Street opened lower on Tuesday due to negative Manufacturing PMI and negative crude oil dynamics.

Current situation

 

The technical picture presents a bearish tone. The price decreased from the weekly highs at 2180. S&P500 broke downwards the 200-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA in the mentioned timeframe. The moving averages are neutral. The resistance is seen at 2165, the support is at 2150.

 

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

 

Trading recommendations

 

Sellers can take control over the market if the price consolidates below 2165. Otherwise, buyers will return the instrument upwards. 

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

05.09.2016

 

Euro

 

General overview

 

The dollar weakened after U.S payrolls report. Non Farm Payrolls slowed down in August and the Fed may postpone the rate hike due to the weak labour market report.

 

Current situation

 

The pair showed volatile trades on Friday. The euro suffered an increased buying pressure right after the Non-farm Payrolls release. Buyers pushed the price from the mark 1.1190 towards the resistance 1.1270 where the euro bullish spike faded and the pair dropped back to the opening price level. The pair closed bearish on Friday. The resistance is seen at 1.1200, the support stands at 1.1130.

 

The EUR/USD pair is below 50, 100 and 200 EMAs which are moving downwards in the 4 hours chart. The moving averages generate a sell signal.

 

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

 

Trading recommendations

 

The pair looks increasingly bearish now. A move below 1.1130 will strengthen sellers’ positions. If the EUR/USD consolidates over 1.1270 the upward movement may continue towards 1.1350.

 

 

Pound

 

General overview

Construction PMI in the UK supported the pound which stayed close to the monthly highs.

 

Current situation

 

The price rallied due to the weak unemployment data in the USA. The sterling accelerated its advance and approached the level 1.3360 on Friday. The pair set a new monthly high at 1.3350 on Friday. The current resistance is seen at 1.3360, the support exists at 1.3200. The GBP/USD pair headed away from the moving averages in the 4 hours chart. The moving averages are turning upwards after the price.

 

The indicators are within positive territory and support an upward extension. The MACD histogram grew which indicates the buyers’ strength. RSI is in the overbought area now.

Trading recommendations

 

The bullish views are getting more popular now. The pound will continue its growth if it breaks the current resistance 1.3360. Alternatively, the price will decrease to 1.3200.

 

 

Yen

General overview

 

The yen softened on the back of US monthly jobs report.

 

Current situation

 

USD/JPY briefly dropped below the 103.50 level and hit fresh 2-day lows right after US NFP report. The price hit 2-day low and attracted buying interest, as a result the price came back to the opening price level and then returned to a growth. The resistance is at 104.50, the support comes in at 103.50.

 

The price remained above the moving averages in the 4 hours chart which present a strong bullish slope. The moving averages accelerated their growth on Friday.

 

MACD is in the positive area. RSI approached the overbought territory. The indicators generate a buy signal.

 

Trading recommendations

 

The resistance 104.50 is the main buyers’ target right now. Sellers may regain some control if they manage to push the price below 103.50.

 

 

NZD/USD

 

General overview

A weaker-than-expected Non-Farm payrolls report lowered the possibility of a Fed rate hike in September.

 

Current situation

 

The NZD/USD returned to a decrease on Friday. The price spiked immediately after the U.S labor market report to a fresh weekly high. The bullish spike quickly faded and the NZD headed towards the support 0.7250. The resistance is at 0.7320, the support comes in at 0.7250.

 

The 50, 100 and 200 EMAs are moving upwards. The price is approaching the 50-EMA which acts as a support now. MACD decreased which indicates the buyers’ positions weakening.  RSI bounced from the overbought area.

 

Trading recommendations

 

If the NZD/USD remains above 0.7250 the price may test 0.7320 again. Controversially, the instrument will drop below 0.7250.

 

XAUUSD

 

General overview

 

XAU/USD grew due to risk aversion on the back of a weak US labour market report.

 

Current situation

 

Gold rallied on Friday. The yellow metal gained about 0.85% by the end of the trades. The price broke the 50-EMA and tested the 100 and 200 EMAs in the 4 hours chart. The moving averages direction is downwards. The resistance is at 1330, the support comes in at 1316 per ounce.

 

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

 

Trading recommendations

 

A break above the 1330 resistance would switch the market tone to bullish. Should the XAU/USD break the resistance level and the price will grow to 1340. Controversially, gold futures will fall below 1316.

 

 

Brent

 

General overview

 

Crude oil Brent got under pressure when skepticism of crude oil output freeze by the OPEC members grew in the market.

Current situation

 

The price bounced off the support 45.30 on Friday. Buyers were able to push the price above the resistance 46.50. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

 

The price broke the 200-EMA upwards in the 4 hours chart. The 50-EMA is turning around, 100-EMA is moving upwards, the 200-EMA is neutral.

 

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

 

Trading recommendations

 

If the price returns below 46.50 (the 200-EMA) the instrument will continue its downward trajectory. Alternatively, Brent shall grow towards 47.50.

 

 

Dax

 

General overview

 

European stocks grew when U.S. jobs growth appeared to be weaker than expected in August. 

 

Current situation

 

Dax jumped to a fresh weekly high of 10731 after the Non Farm payroll report. The price broke upwards the 50 and 100 EMAs. The moving averages are moving upwards which is a buy signal. The resistance is seen at 10700, the support lies at 10520.

 

MACD is in the positive area. RSI approached the overbought area. The indicators generate a buy signal.

 

Trading recommendations

 

If the price breaks the resistance 10700 the index can grow to the August high at 10802. Otherwise, DAX will fall to the support 10520.

 

 

S&P 500

 

General overview

 

Wall Street closed higher last week. We believe traders will digest the weaker-than-expected payrolls report today.

 

Current situation

 

S&P500 strengthened and closed Friday bullish. The index advanced north and set a new weekly high at 2183. The instrument broke the 50 and 200 EMAs and tested the 100-EMA in the 4 hours chart. The moving averages are neutral. The resistance is seen at 2180, the support is at 2165.

 

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

 

Trading recommendations

 

Should the price break the resistance 2180 and buyers will lead the price to the level 2190.

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

06.09.2016

 

Euro

 

General overview

The EUR/USD strengthened on the back of the weak dollar after disappointing Non Farm Payroll report. The USA market was closed due to Labour Day.

 

Current situation

 

The pair was low volatile on Monday. The euro moved upwards in the Asian session. Then sellers were able to push the price lower in the European and North American sessions. The price remained below the 50, 100 and 200 EMAs in the 4 hours chart. All moving averages kept heading lower. The resistance is seen at 1.1200, the support stands at 1.1130.

 

MACD shows divergence in the 1 hour chart. RSI is heading towards the oversold area.

 

Trading recommendations

 

If the downward pressure persists the pair will get below 1.1130. In this scenario, sellers’ next target will be the mark 1.1070.

 

 

Pound

 

General overview

 

The pound grew due to better-than-expected Service PMI and due to the weakness of the dollar.

 

Current situation

 

The pound rallied and tested the level 1.3360 on Monday. The sterling was able to set a daily high at 1.3372. After reaching the level 1.3360 the pair slightly rolled back and erased some of its gains. The GBP/USD hovered above the moving averages in the 4 hours chart. The moving averages are turning upwards. The current resistance is seen at 1.3360, the support exists at 1.3200. 

 

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

 

Trading recommendations

We will place buy orders if the GBP/USD does a breakout at the resistance level of 1.3360. If the pair gets below 1.3270 the price may reach 1.3200.

 

 

Yen

 

General overview

 

The USD/JPY softened on Monday’s trades. The dollar is still under pressure after weaker-than-expected Non Farm Payrolls report. Moreover, the US market was close due to Labor Day celebration.

 

Current situation

 

The pair erased some of its previous gains on Monday. The price decreased from last week highs at 104.30 to the 103.50 region. The instrument remained above the moving averages in the 4 hours chart. The 50-EMA broke the 100-EMA and approached the 200-EMA in the mentioned timeframe. The resistance is at 103.50, the support comes in at 102.50.

 

MACD formed a divergence in the 1 hour chart. RSI left the overbought area, but remained within positive territory.

Trading recommendations

 

A break below 102.50 risks a decline back towards the support 101.40. If the USD/JPY returns above 103.50 the instrument may grow to 104.50.

 

 

AUD/USD

 

General overview

 

The AUD grew on the back of strong Company Gross Operating Profits report.

 

Current situation

 

The AUD/USD grew at the open on Monday. Buyers led the price to the level 0.7600 where the pair turned around and slightly decreased. The instrument tested the 100-EMA and remained above the line. The moving averages are neutral in the 4 hours chart. The resistance is at 0.7600, the support comes in at 0.7540.

 

MACD indicator is close to the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD remains in the positive area buyers will keep control over the market. RSI bounced from the overbought area.

 

Trading recommendations

 

If the AUD/USD remains below 0.7600 the price may fall to 0.7540. Controversially, the instrument will grow to 0.7600.

 

 

XAUUSD

 

General overview

 

The Gold remained close to the weekly high as disappointing US labor report diminished expectations for another rate hike in 2016.

Current situation

 

XAU/USD traded close to the weekly high on Monday. The price was at the 200-EMA in the 4 hours chart. The moving averages are turning upwards. The resistance is at 1330, the support comes in at 1316 per ounce.

 

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

Trading recommendations

 

The pair will presume its upward trend if it breaks the resistance 1330. If the instrument gets below 1316 sellers will lead the price to 1300.

 

 

Brent

 

General overview

 

Oil prices grew after reports that Saudi Arabia and Russia will cooperate to support the market.  

 

Current situation

 

Brent showed volatile trades on Monday. First, it jumped to the monthly peaks and set a new high at 49.50. Then, the price turned around and sharply fell below 47.50. The price returned some of its losses and slightly grew during North American hours. The resistance is at 47.50, the support comes in at 46.50 dollars per barrel.

 

The price is between the 50 and 200 EMAs in the 4 hours chart. The 50-EMA is crossing the 100-EMA in the same timeframe. 

 

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

 

Trading recommendations

 

If the price returns above 48.50 the Brent futures will continue its uptrend. Alternatively, Brent will decrease below 46.50.

 

 

Dax

 

General overview

 

European stocks traded higher on Monday as markets digested Friday's disappointing U.S employment report.

 

Current situation

 

DAX traded close to the recent highs and spent the day in the 10700 region. The price slightly grew above previous week’s top in the European session and decreased in the American one. The resistance is seen at 10700, the support lies at 10520.

 

MACD is in the positive area. RSI is close to the overbought area.  

 

Trading recommendations

 

The index may decrease to 10520 soon. If the price breaks the level the downward movement may continue to 10350. Controversially, the instrument will grow above 10700.

 

 

S&P 500

 

General overview

Wall Street was closed on Monday due to Labor Day celebration.

 

Current situation

 

S&P500 slightly changed on Monday. The price stayed at previous week’s high and slightly decreased by the end of the trades. The instrument broke the 100-EMA and touched the 50-EMA in the 4 hours chart. The 50-EMA is breaking the 100-EMA downwards. All moving averages are moving downwards. The resistance is seen at 2180, the support is at 2165.

 

MACD is in the positive area. RSI bounced from the overbought area.

 

Trading recommendations

 

An uptrend will start as soon, as the index rises above the resistance level 2180. S&P500 may drift below 2165 to test 2150 support area.

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

07.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

NZD/USD

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

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

 

 

Nasdaq

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

S&P 500

 

General overview

 

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

 

Current situation

 

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

 

The MACD and RSI indicators remain within positive territory.

 

Trading recommendations

 

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

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

08.09.2016

 

Euro

 

General overview

 

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

 

Current situation

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

USD/CAD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

S&P 500

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

09.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

AUD/USD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

DAX

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

Nasdaq

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

12.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Yen

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

NZD/USD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

S&P500

General overview

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

13.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

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

 

 

Pound

 

General overview

 

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

Current situation

 

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

 

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

RSI is approaching oversold territory.

 

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

USD/CAD

 

General Overview

 

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

Current situation

 

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

 

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

RSI is in the overbought area.

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

Nasdaq

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

14.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

MACD is negative. MACD decreased which confirms the strength of sellers.

RSI rebounded from the oversold area

Trading recommendations

 

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

 

 

AUD/USD

 

General Overview

 

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

 

Current situation

 

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

 

MACD remained at the same level which confirms the strength of sellers.

RSI is consolidating within the oversold area.

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

European stocks are neutral after a 3-day decrease. 

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

 

S&P500

 

General overview

 

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

 

Current situation 

 

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

 

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

 

Trading recommendations

 

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

 

 

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

 

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

15.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

NZD/USD

 

General Overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

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

 

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

 

Trading recommendations

 

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

 

 

DAX

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

 

S&P500

 

General overview

 

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

 

Current situation

 

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

 

The indicators stalled within the negative territory.  

 

Trading recommendations

 

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

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

16.09.2016

 

Euro

 

General overview

 

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

 

Current situation

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

Current situation

 

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

 

MACD is negative. MACD decreased which indicates the sellers’ positions strengthening.

RSI is approaching the oversold territory

 

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

USD/CAD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

The indicators slightly changed from Wednesday. 

 

Trading recommendations

 

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

 

 

NASDAQ

 

General overview

 

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

 

Current situation

 

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

Trading recommendations

 

We believe that this is essentially a “buy only” market at the moment. The NASDAQ index now seems to be heading towards its immediate resistance at 4800.

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

19.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Yen

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

AUD/USD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

S&P500

 

General overview

 

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

Current situation

 

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

 

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

Trading recommendations

 

A downtrend will start as soon, as the S&P500 drops below the support level 2140. A break above 2150 would open the way to 2160.

 

 

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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

 

20.09.2016

 

Euro

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Pound

 

General overview

 

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

 

Current situation

 

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

 

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

RSI remains oversold.

Trading recommendations

 

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

 

 

Yen

 

General overview

 

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

 

Current situation

 

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

 

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

Trading recommendations

 

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

 

 

NZD/USD

 

General Overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

XAUUSD

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

Brent

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

DAX

 

General overview

 

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

 

Current situation

 

The overall picture remains bearish. The price remained in the short-term downward channel.

DAX gapped higher on Monday. The price was confined to the tight range between 10330 and 10370. The 50-EMA crossed the 100-EMA downwards. The 200-EMA headed north, the 50 and 100 EMAs are turning downwards. The resistance is seen at 10350, the support lies at 10175.

 

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

 

Trading recommendations

 

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

 

 

Nasdaq

 

General overview

 

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

 

Current situation

 

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

 

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

 

Trading recommendations

 

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

 

 

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