Fort Financial Services
Broker Representative
"Fort Financial Services"- fundamental and technical analysis
19.03.2015
Fundamental analysis
The main market attention was directed to the Fed meeting release and to the Ms. Yellen speech. Yellen did not say anything concrete about the rates. Yellen’s speech did not support the dollar and it fell temporally. During the day the pair EUR/USD was in demand amid the Germany business climate moderately positive release from the ZEW institute. The indicator has been showing growth for 5 consecutive months and went out to the highest level since February 2014. The release points out to the investors’ positive expectations about the Eurozone locomotive prospects. At the end of the day the pair euro/dollar increased.
Yesterday the pair GBP/USD was under pressure as well. The EUR/GBP short positions closing has increased after the ZEW institute publication which caused the pound decrease. But then bears took profit that caused the technical rebound in the market. At the end of the day the pair GBP/USD grew.
The pair USD/JPY has been in a narrow flat for three trading days. At the end of the day the US weak macroeconomic statistics supported bears.
Technical analysis
Euro (EUR)
General overview
The key week day has come for the entire Forex market. Late at night the Fed announced its two-day meeting monetary policy results. The inflation, retail sales and industrial production macroeconomic releases clearly point out to the lack of appropriate monetary tightening.
The level of 1.0550 breakthrough was followed by the price increase to the resistance level of 1.0670. The level testing has led to the consolidation formation. Then the break upwards though this level happened.
The price is finding the first support at 1.0670, the next one is at 1.0550. The price is finding the first resistance at 1.0790 the next one is at 1.0925.
The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”.
The MACD indicator is in a neutral territory. The price is growing.
Trading recommendations
The pair can grow to the resistance level of 1.0790. After breaking 1.0790 the buyers may go to 1.0925.
Pound (GBP)
General overview
The Bank of England monetary policy last meeting minutes did not support the British pound. In early March the unemployment reduction with the average earnings growth have intensified the UK inflation expectations. From the American monetary regulator, on the contrary, we expected "pigeon" rhetoric in relation to the monetary policy tightening.
The support level of 1.4650 has twice stopped the sellers. The first level testing was followed by a slight correction upwards; the second one has led to the short-term consolidation and a sharp increase.
The price is finding the first support at 1.4650, the next one is 1.4500. The price is finding the first resistance at 1.4800, the next one is at 1.4880.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward moveent and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD histogram is in a negative territory. The price is correcting.
Trading recommendations
The buyers need to break above 1.4920 for a steady growth. The way to the marks 1.5015, 1.5100 will be opened after this breakthrough.
Yen (JPY)
General overview
The trading has been held for seven days amid the weak volatile consolidation in anticipation of the strong news – the Fed economic forecasts, the Federal Open Market Committee FOMC statement, the Fed Chairman Yellen speech which came out yesterday. Yellen did not say anything concrete about the rates changes. Yellen’s vague statements did not support the dollar at all.
The price is finding the first support at 120.40, the next one is at 119.20. The price is finding the first resistance at 121.60, the next one is at 122.40.
The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement and form a “Dead Cross”.
The MACD indicator is in a neutral territory. The price is falling.
Trading recommendations
The potential decrease targets are the support levels: 120.40, 119.20.
*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman.
19.03.2015
Fundamental analysis
The main market attention was directed to the Fed meeting release and to the Ms. Yellen speech. Yellen did not say anything concrete about the rates. Yellen’s speech did not support the dollar and it fell temporally. During the day the pair EUR/USD was in demand amid the Germany business climate moderately positive release from the ZEW institute. The indicator has been showing growth for 5 consecutive months and went out to the highest level since February 2014. The release points out to the investors’ positive expectations about the Eurozone locomotive prospects. At the end of the day the pair euro/dollar increased.
Yesterday the pair GBP/USD was under pressure as well. The EUR/GBP short positions closing has increased after the ZEW institute publication which caused the pound decrease. But then bears took profit that caused the technical rebound in the market. At the end of the day the pair GBP/USD grew.
The pair USD/JPY has been in a narrow flat for three trading days. At the end of the day the US weak macroeconomic statistics supported bears.
Technical analysis
Euro (EUR)
General overview
The key week day has come for the entire Forex market. Late at night the Fed announced its two-day meeting monetary policy results. The inflation, retail sales and industrial production macroeconomic releases clearly point out to the lack of appropriate monetary tightening.
The level of 1.0550 breakthrough was followed by the price increase to the resistance level of 1.0670. The level testing has led to the consolidation formation. Then the break upwards though this level happened.
The price is finding the first support at 1.0670, the next one is at 1.0550. The price is finding the first resistance at 1.0790 the next one is at 1.0925.
The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”.
The MACD indicator is in a neutral territory. The price is growing.
Trading recommendations
The pair can grow to the resistance level of 1.0790. After breaking 1.0790 the buyers may go to 1.0925.
Pound (GBP)
General overview
The Bank of England monetary policy last meeting minutes did not support the British pound. In early March the unemployment reduction with the average earnings growth have intensified the UK inflation expectations. From the American monetary regulator, on the contrary, we expected "pigeon" rhetoric in relation to the monetary policy tightening.
The support level of 1.4650 has twice stopped the sellers. The first level testing was followed by a slight correction upwards; the second one has led to the short-term consolidation and a sharp increase.
The price is finding the first support at 1.4650, the next one is 1.4500. The price is finding the first resistance at 1.4800, the next one is at 1.4880.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward moveent and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD histogram is in a negative territory. The price is correcting.
Trading recommendations
The buyers need to break above 1.4920 for a steady growth. The way to the marks 1.5015, 1.5100 will be opened after this breakthrough.
Yen (JPY)
General overview
The trading has been held for seven days amid the weak volatile consolidation in anticipation of the strong news – the Fed economic forecasts, the Federal Open Market Committee FOMC statement, the Fed Chairman Yellen speech which came out yesterday. Yellen did not say anything concrete about the rates changes. Yellen’s vague statements did not support the dollar at all.
The price is finding the first support at 120.40, the next one is at 119.20. The price is finding the first resistance at 121.60, the next one is at 122.40.
The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement and form a “Dead Cross”.
The MACD indicator is in a neutral territory. The price is falling.
Trading recommendations
The potential decrease targets are the support levels: 120.40, 119.20.
*Analytical review is presented by the leading analyst of the broker Fort Financial Services, Alexander Kofman.