"fort Financial Services"- Fundamental And Technical Analysis

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07-14-2017, 03:59 AM,
"Fort Financial Services"- fundamental and technical analysis.


14.07.2017

Euro

The upward channel remained intact on Thursday. The price just moved from its upper boundary to its lower one. The level 1.1400 rejected the pair upwards and the euro returned to 1.1450 afterwards. A fresh downward impetus emerged in the mid-European session. EUR/USD decline to 1.1400, trying to break below the handle. The resistance resides at 1.1450, the support comes in at 1.1400.

We are still bullish and prefer to wait when the current correction is over. Buyers are likely to attack 1.1500 in the short-term.

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Pound

The pound found fresh bids at 1.2800. New buy orders helped the major to recover recent losses. The spot bounced from 1.2800 and returned to 1.2900. The major spent the Asian session around the level and continued its growth in the morning. GBP/USD reclaimed 1.2900 and headed towards 1.2950. The resistance lies at 1.3000, the support comes in at 1.2900. 

The pair stays in a near-term downward channel. The GBP/USD pair needs to consolidate above 1.2950 to leave the channel. If sellers regain control the major may retest the 1.2800 handle.

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USD/JPY

The US dollar remains under heavy selling pressure. Bears broke the lower limit of the upward channel (113.40) the other day. Sellers had a temporary stop at 113.00 and are trying to break lower on Thursday. The resistance lies at 114.00, the support comes in at 113.00.

A break below 113.00 will neutralize the upward pressure further. In this scenario sellers will lead the major to 112.50. Should the level 113.00 hold USD/JPY will recover back to 114.00.

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GBP/JPY

GBP/JPY is neutral on Thursday. The 145.00 level appeared to be a strong obstacle to retake. The price bounced from the level and returned to 146.00. After reaching the level the upward momentum lost steam. The pound spent the Asian and the European sessions around the level. The resistance lies at 147.00, the support is at 146.00. 

If sellers retake 145.00 the spot may face a further downside pressure. After reclaiming 145.00 sellers will aim at 144.00. Alternatively, the pair may return to the upward channel. Buyers need to reclaim 147.00 to regain control.

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EUR/JPY

The euro remained under pressure due to the bid sentiment around the yen. After a continuous decline the pair finally stopped at 129.00. The pair bounced from the level in the Asian session and recovered to 129.50. The resistance lies at 129.50, the support lies in at 129.00.

A break below 129.00 will signal about a fresh decline to 128.00.

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USD/CAD

USD/CAD traded mixed on Wednesday. The spot was neutral the first part of the day. The pair stayed in a narrow channel around 1.2900. A New York session brought fresh bearishness to the market. The US dollar sharply dropped and broke 1.2800. Sellers continued to grind lower afterwards and stopped at 1.2700. After posting fresh lows at 1.2700 the US dollar grew to 1.2750. The resistance exists at 1.2800, the support stands at 1.2700.

A broad based US Dollar weakness helped CAD to regain some traction. We believe sellers will remain in the driver's seat. After a short pull back the major will decline to 1.2700.

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XAU/USD

Gold prices continued their recovery and reached 1225. After reaching the mark gold prices faced some selling pressure. As a result, the spot had to retreat to 1220. Bulls, however, returned in the morning on Thursday. Gold prices grew and approached 1225 by noon. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

A move below 1220 would revive bearishness towards 1210 dollars per ounce.

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Brent

The buying interest faded after touching 48.50 dollars per barrel. Brent just pierced the level and turned around. The benchmark erased the half of buyers' fresh gains by the end of Wednesday. Brent spent the first part of Thursday at 47.50. The decline was continued in the late European session. The resistance lies at 47.50, the support lies in at 46.50 dollars per barrel.

If the bearish tone persists we expect a breakout of the level 47.50 and advance to 46.50 dollars per barrel.

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DAX

DAX was neutral on Thursday after Wednesday’s rally. Buyers retook 12600 and stayed above the level afterwards. The resistance lies at 12700, the support lies in at 12600. 

If DAX stayed above 12600 the upward momentum will send the market to 12650.

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S&P500


S&P500 had a positive day on Wednesday. The index pulled away from 2420 and rallied to 2440. The index momentum began to fade when S&P500 touched the level. The index spent the night and day sessions at 2440. The resistance lies at 2440, the support lies in at 2420.

The 2440 hurdle is a strong level. The index is likely to rebound from the level. The price may return to 2420 in this case.

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

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08-07-2017, 02:35 AM,
"Fort Financial Services"- fundamental and technical analysis.


07.08.2017

Euro

The single currency kept the upbeat tone unchanged vs. its US peer on Friday. The major stuck in an upward channel hanging between 1.1900 and 1.1850. The resistance resides at 1.1900, the support comes in at 1.1850.
If the euro maintains its bullish bias the pair may retake 1.1900. A break above the hurdle will show room for further upside towards 1.2000.

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Pound


Fresh selling pressure around the British pound sent GBP/USD to fresh lows. The Cable sharply dropped to 1.3100 and stayed around the level afterwards. Despite the unexpected weakness the major is still in an upward channel and is trying to build on a correction. The resistance lies at 1.3200, the support comes in at 1.3100. 
A pullback or consolidation is expected in the market in the near term.

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XAU/USD

Buyers stopped bears’ attack at 1260 dollars per ounce. Fresh bids around the handle helped gold prices to reverse some previous losses and returned the spot to 1270. The resistance exists at 1270, the support stands at 1260 dollars per ounce.
It is hard to predict the further direction which gold prices may choose. The tendency is still positive, however, bulls are too exhausted to advance further. If sellers get the ball XAU/USD may correct to 1250 dollars per ounce. If 1270 falls that will indicate that the bulls phase has resumed. 

resim

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

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08-07-2017, 08:36 PM,
"Fort Financial Services"- fundamental and technical analysis.


08.08.2017

Euro

The euro sharply dropped on Friday. The major broke 1.1850, 1.1800 and tested 1.1750. Despite the decline the spot remained in an upward channel. The euro tried to build a recovery on Monday. The single currency strengthened to 1.1800. The resistance resides at 1.1800, the support comes in at 1.1750.
The single currency is likely to continue its negative slide. Sellers may lead the price to 1.1650.

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Pound

The pound continued its negative trajectory last week. Sellers broke 1.3100 and almost reached 1.3000. The pound found a strong resistance at 1.3030 and spent Monday around the mark. The resistance lies at 1.3100, the support comes in at 1.3000. 
The pound is about to leave the upward channel. A move below 1.3000 will extend sellers’ gains down to 1.2900.

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XAU/USD

Bulls gave up control on Friday giving the way to sellers. The market moved down, broke 1260 and stopped at 1255. After testing 1255 the yellow metal pulled back and returned to 1260 where the spot spent the whole Monday. The resistance exists at 1260, the support stands at 1250 dollars per ounce.
To maintain control sellers need to fixate below 1250. A daily close below the handle may open the way for further decline to 1245 dollars per ounce.

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Brent

Brent continued its trades between 52.50 and 51.50 on Monday. The benchmark started the day around the upper boundary of the range and reached 51.50 by noon. The resistance lies at 52.50, the support lies in at 51.50 dollars per barrel.
We prefer to stay neutral for now. We expect further sideways trades in the coming days.

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DAX

DAX opened in the green on Monday. Buyers made an attempt to retake 12300 and even pierced the level. However, bulls failed to fixate above the handle. The fresh selling interest returned the index below 12300. Sellers pushed the price to 12250 by noon. The resistance lies at 12300, the support lies in at 12200. 
If the pressure persists the price will touch 12200 in the coming sessions. 

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S&P500

S&P500 is still neutral staying in a tight range 2470-2475. The resistance lies at 2480, the support exists in at 2460.
We prefer to stay neutral for now. We expect further sideways trades in the coming days.

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

resim
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08-15-2017, 10:41 PM,
"Fort Financial Services"- fundamental and technical analysis.


16.08.2017

Euro

Sellers managed to reclaim 1.1800 and moved the price towards 1.1750. The level did not stop sellers who reached 1.1700 afterwards. However, fresh bids around the level rejected the spot upwards. The pair returned to 1.1750 and spent there the first part of the day. The euro continued its slide targeting at 1.1700 in the late European session. The resistance resides at 1.1750, the support comes in at 1.1700.
A move below 1.1750 will confirm sellers' strength. Below 1.1750 EUR/USD will likely target at 1.1700 and 1.1650.

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Pound

The pound remained under pressure due to the bid sentiment around the dollar. Sellers pushed the price to the lower limit of the current range during the Asian trades. The pound left the range in the morning. Sellers were able to regain 1.2900 in the mid-European session. The major advanced to 1.2850 in the NY session. The resistance lies at 1.2900, the support comes in at 1.2800. 
The pound is likely to reach 1.2850 soon and will advance to 1.2800 after that.

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USD/JPY

The US dollar stalled its recovery on Tuesday. After breaking 110.00 the spot advanced up to 110.50 where the major lost momentum. The resistance lies at 111.00, the support comes in at 110.00.
The USD/JPY pair is approaching the upper boundary of the downward structure. A move beyond the downward channel will neutralize the downward pressure. The next target for this pair is 111.00.

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XAU/USD

The bid tone around the US dollar pushed gold to the 1270 handle. The metal failed to retake the level and pulled back. The resistance exists at 1280, the support stands at 1270 dollars per ounce.
If a downward pressure persists the pair may reclaim 1270 dollars per ounce.

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Brent

The short term picture favors the downside. Brent stopped losing ground when the benchmark touched 50.50. After touching the level oil prices started a consolidation phase which lasted the night and the morning. A bout of fresh selling pressure emerged in the late European session. Brent oil prices attacked 50.50 again and reclaimed the handle this time. The resistance lies at 50.50, the support lies in at 49.50 dollars per barrel.
Technical readings favor another leg lower. We believe Brent may reach 49.50 in the short-term.

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DAX

Bulls tried to extend their gains on Tuesday. They attacked 12200 and even advanced to 12240. However, the index lost momentum after that. The price moved back and returned below 12200. The resistance lies at 12200, the support exists at 12100. 
If buyers fail to retake 12200 the index may turn around and soften to 12000.

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S&P500

S&P500 continued its rally and was able to retake 2460. The index was growing upwards after that and posted fresh highs at 2466. Buyers did not find any reason to move the price higher and retreated. The resistance lies at 2480, the support exists in at 2460.
We expect a pull back or consolidation now. The benchmark may ease to the 2460 region.

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

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08-16-2017, 11:24 PM,
"Fort Financial Services"- fundamental and technical analysis.


17.08.2017


Euro

The euro continues to trade in negative ground. Sellers managed to lead the price to 1.1700 where they lost momentum for a while. After touching the level the single currency turned to the upside and recovered to 1.1750. As of writing, sellers are trying to return control now. They returned the spot to 1.1700 and are struggling with the level. The resistance resides at 1.1750, the support comes in at 1.1700.
Sellers broke the ascendant trend line. They need to consolidate below it now. If the spot stays below 1.1750 the price will continue its downward momentum towards 1.1650.

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Pound

The pound finally set its course after a week of directionless trades. The major left the range and headed south. Sellers reclaimed 1.2900 and posted a fresh low at 1.2844. The pound is likely to continue its slide today. The resistance lies at 1.2900, the support comes in at 1.2800. 
The GBP/USD pair now seems to be heading towards its immediate support near 1.2800.

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USD/JPY

The upward trajectory lost steam around 111.00. Sellers seem to be guarding the level not allowing buyers to approach. The price stopped a few pips below the hurdle. The resistance lies at 111.00, the support comes in at 110.00.
The technical picture presents a bullish tone. Once we break above 111.00, we think that the 112.00 level will be next.

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XAU/USD

Gold continues to suffer the persistent weakness. The 1270 handle stopped sellers who are trying hard to reclaim the level now. The resistance exists at 1280, the support stands at 1270 dollars per ounce.
If the 1270 level stands the price will recover to 1280-1285. If it falls the pair will extend its losses to 1260 dollars per ounce.
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Brent

The downward momentum lost legs around 52.00 dollars per barrel. Fresh bids around the mark helped Brent to build on a correction. The price reclaimed 50.50 first and advanced to 51.22 after that. The resistance lies at 51.50, the support lies in at 50.50 dollars per barrel.
Sellers broke the ascendant trend line and are trying to take some profit now. We do not believe in the current growth. It is most likely corrective. The benchmark is likely to return to 50.50 soon.

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DAX

DAX had a positive morning on Wednesday. The index gapped upwards at the open and continued its rally afterwards. The benchmark broke 12200 and extended its gains up to 12300 during the first part of the day. The resistance lies at 12300, the support exists at 12200. 
The 12300 hurdle is the last sellers’ defense line. If it falls buyers may regain control and push DAX to 12450-12500.

resim

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

resim
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10-21-2017, 01:55 AM,
"Fort Financial Services"- fundamental and technical analysis.


20.10.2017

Euro

The euro extended its winning streak and grew to 1.1850 on Thursday. The major, however, failed to reclaim the level and bounced off fresh highs right after testing the hurdle. If buyers do not break above 1.1850 the spot may soften to 1.1800-1.1780. 

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Pound

The pound is heavily offered and continues its negative slide. Sellers pushed the spot from 1.3150 to 1.3100 during the night trades and tried to retake the level in the morning. A break below the handle shall open the way towards 1.3050.

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Yen

USD/JPY managed to retake 113.00 and advanced beyond it. The pair posted a fresh high at 113.25 in the Asian session and remained above the handle afterwards. We expect to see a renewed buying pressure and move towards 113.50.

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Gold

Buyers managed to neutralize selling pressure and pushed the spot to 1290. However, they did not regain the level and stepped away. Sellers used this chance and regained control. They pushed the price to 1280 and took a pause to gather more steam for the next leg lower. A move below 1280 will generate more negative signals and risks further weakening to 1270. 

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Brent

Brent oil prices left the short-term upward channel and edged lower. Sellers broke below 57.50 and pushed the benchmark to the 57-th figure. A firm break below the 57.00 handle could trigger fresh weakness for attack at 56.50.

resim

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

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10-23-2017, 07:00 PM,
"Fort Financial Services"- fundamental and technical analysis.


23.10.2017

Euro

Buyers lost control over the market after touching 1.1850. The pair turned around after that and declined to 1.1750. A decisive break below 1.1750 could open the door towards 1.1700.

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Pound

The overall picture remained negative. However, buyers could win some time when pushed the pound to the upper limit of the downward channel and broke the line. We do not believe in buyers’ strength and consider this growth corrective. The buying momentum will lose steam soon and sellers will regain control. Their primary target will be the 1.3100 level.

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Yen

Buyers extended the upward trajectory and pushed the pair to 113.50 on Friday and continued their advance on Monday. The US dollar gapped upwards through the level and headed towards 114.00. To resume the uptrend, the spot has to break the resistance level at 114.00.
 
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Gold

Gold recovery stalled at 1290 where the pair faced some selling rejection. The yellow metal eased after that and declined to 1280 dollars per barrel. A bout of fresh selling interest emerged at the open. Gold gapped downwards and made a leg lower to 1275. If the selling pressure remains intact the XAU/USD pair may continue its slide to 1270.

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Brent

Fresh bids around 56.50 helped Brent to get some traction. The benchmark bounced from the handle and rallied towards 57.50 which broke right after testing it. Buyers continued their advance after that and reached 57.90 where they spent the night and the morning on Monday. Brent could reverse more losses if it moves above 58.00 dollars per barrel.

resim

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

resim
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10-24-2017, 06:17 PM,
"Fort Financial Services"- fundamental and technical analysis.


24.10.2017

Euro

Sellers’ attempt to regain 1.1750 failed on Monday. The euro just tested the level and stayed around it afterwards. If sellers fail to retake the level today the pair may roll back to 1.1770 – 1.1800.

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Pound

The pound remained inactive staying in a tight range between 1.3200-1.3150. We believe traders will keep the price in a directionless mode today.

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Yen

Buyers spent the whole Monday trying to get through 114.00. When they exhausted they gave up fresh highs and retreated. Sellers filled the gap and led the spot below 113.50.  A firm break below 113.50 handle could trigger fresh weakness for attack at 113.00.

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Gold

The bullish spike faded when gold broke the level 1280. The spot posted a high at 1283 and retreated to the nearest handle after that. If gold prices fail to leave 1280 upwards sellers may drove the pair towards 1275.

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Brent

Buyers lost control when they tried to leave the 58-th figure. Brent turned bearish after this unsuccessful attempt and dropped to 57.50. A daily close below 57.50 will trigger losses towards 56.50.

resim

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

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10-27-2017, 06:14 PM,
"Fort Financial Services"- fundamental and technical analysis.


27.10.2017

Euro

Renewed selling interest did not leave a chance to buyer to keep their gains. The euro pushed away from 1.1830 and sharply dropped to 1.1635. We expect a further decline and a move below 1.1600.

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Pound


The pro-dollar sentiment prevails in the market. The pound lost a lot on Thursday. The major fell from 1.3250 to the 1.3100 handle where the spot spent the night. The pound may extend its losses to 1.3050 today.

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Yen

Buyers returned on Thursday and pushed the pair to 114.00. They finally regained the level and posted a fresh high at 114.27. The US dollar remained above the 114.00 handle during the night and morning. We do not rule out a pull back to 114.00-113.70, but consider this decline as a good chance to buy the US dollar. Otherwise, the pair will keep its upbeat tone unchanged and may test 114.50.

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Gold

Gold holds firmly in red, sellers always stopped any buyers' attempts to build on a correction. Sellers tightened their grip on Thursday and sent the spot downwards. Gold prices fell to 1270, broke the level and stopped at 1266 where the pair spent the night and the morning. We expect a move towards 1260 today.

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Brent
 
Brent remains on strong bullish footing, thus the benchmark caught a fresh bid-wave on Thursday and rallied to 59.50 where buyers lost momentum. If the price succeeds and fixes above 59.50, the market may continue its growth towards the 60-th figure.

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

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