MoneyOnComputer

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

19.01.2017

Euro

General overview

The dollar erased some of its losses vs. the euro ahead of J. Yellen’s speech on Wednesday. Moreover, the greenback got support from US consumer price index which coincided with investors’ expectations. The ECB will announce its interest rate decision later the day.

Current situation

The bullish market structure remained in place on Wednesday. The euro completed an upside impulse and retreated from the weekly high at 1.0716. The current rebound should be considered corrective amid profit-taking after the recent rally. The pair returned below 1.0700 in the early trades on Wednesday and stayed around the level during the European trades. The price continued developing well above the moving averages in the 4 hours chart. The 50 and the 100-EMAs maintained their bullish slope while the 200-EMA remained neutral in the same chart. The resistance is at 1.0700, the support comes in at 1.0650.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator remained within overvalued readings.

Trading recommendations

The EUR/USD pair now seems to be heading towards its immediate support near 1.0650. When we break the level the support 1.0600 comes back into play. However, we believe the euro is to remain supported in the short-term as long as 1.0500 is intact.



Pound

General overview

Concerns regarding hard Brexit keep weighing on the cable. Despite the positive labor market data (Unemployment Rate remained unchanged, Claimant Count Change on the contrary increased) the pound weakened on Wednesday.

Current situation

The pound opened red against the dollar on Wednesday. The cable bounced off the border of the overbought zone and headed lower in the Asian session. Sellers broke the 1.2400 level in the early trades and tested 1.2300 in the European session. However, the 1.2300 handle stopped sellers' advance. After touching the level the price rolled back and hovered above the level ahead of the NY opening. The spot bounced off the 200-EMA in the 4 hours chart. All moving averages kept heading lower in the mentioned timeframe. The resistance lies at 1.2400, the support comes in at 1.2300.

MACD decreased which confirms the strength of sellers. RSI remained within the overbought area.

Trading recommendations

A bearish tone prevailed in the 4 hours chart. We recommend going short with the first target – 1.2200. After consolidation below the first target the GBP/USD may advance to the 1.2100 level.



Yen

General overview

The US dollar took a breath reaching the 7-week lows while investors focused on J.Yellen’s speech.

Current situation

The USD/JPY remained within a downtrend channel on Wednesday. The USD/JPY pair found a solid support at 112.50. The mark rejected the spot upwards giving the US dollar a chance to reverse a minor portion of its losses. After breaking 113.00 in the Asian session the recovery stalled above the level during the European hours. The 4 hours chart showed that the price continued developing well below the moving averages. The 100 EMA crossed the 200-EMA downwards. The 50 and the 100-EMAs kept heading lower while the 200-EMA remained flat. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD traded to the downside. The RSI left the oversold readings and moved higher.

Trading recommendations

We expect the USD/JPY pair to extend its bullishness in the short-term. Should the US dollar advance beyond the 114.00 level, the spot may extend its rally up to 114.50.



AUD/USD

General overview

The AUD maintained its upbeat tone vs. the US dollar getting support from oil prices dynamics. The upcoming labor market data may support the Australian dollar as well.

Current situation

The tone is still positive in the market. The AUD/USD pair stayed around 2-week highs flirting with the 0.7550 level. The price was confined within a tight trading range around the level tending to move lower. The spot hovered above its moving averages in the 4 hours chart. The 50 and 100-EMAs maintained their bullish slope while the 200-EMA was flat in the mentioned timeframe. The resistance is highlighted at 0.7550, the support comes in at 0.7500.

MACD remained at the same level which confirms the strength of buyers. The RSI consolidated within overvalued territory.

Trading recommendations

We expect a downward correction in the short-term. If we see a close below 0.7550 we will sell the spot. The potential bearish target is the 0.7500 handle.



XAU/USD

General overview

Gold slowed down its rally after reaching 8-week highs amid the US dollar recovery and risk-on sentiment. All eyes were on inflation data and Yellen's speech on Wednesday.

Current situation

Gold prices remained in an ascending channel on Wednesday. After reaching the 4-weeks peaks on Tuesday the metal slightly retreated and approached the lower limit of its upward structure on Wednesday. The XAU/USD pair slightly declined in the Asian session and found some support at 1210 dollars per ounce. Sellers struggled hard to break below the level during the European hours. According to the 1 hour chart the price tested the bullish 50-EMA. The price stayed above its moving averages which maintained their bullish slope in the same chart. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI consolidated within overvalued readings.

Trading recommendations

A clear break below 1210 would indicate that the bearish phase has been resumed. The 1200 handle seems to be the next probable bearish target. Anyway the gold spot is still strong enough to move higher. A break above 1220 risks the 1230 hurdle.



Brent

General overview

Brent declined despite the increased forecast from OPEC for demand for oil in 2017. Oil prices edged lower after OPEC raised its U.S. output forecast for 2017.

Current situation

Sellers took control of the flows on Wednesday. The last upward impetus stalled just above 56.50 dollars per barrel. The benchmark faced a downward rejection and dropped to 55.50 in the NY session on Tuesday. Sellers continued moving the price lower on Wednesday. Bears broke 55.50 dollars per barrel at the European session opening and headed south afterwards. The benchmark tested 54.50 in the mid-European session. The price broke all moving averages downwards in the 4 hours chart. The 100-EMA remained neutral while the 50-EMA pointed lower. The 200-EMA kept heading higher in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations

As we see the market switched its tone to bearish. If the pressure persists sellers will remain in the driver’s seat. After a close below 54.50 we could see the benchmark extending its decline to 53.50 dollars per barrel.



DAX

General overview

European stocks traded mixed on Wednesday as traders are looking for the ECB meeting results on Thursday.

Current situation

The index gapped higher at the daily open and reached 11600 after the jump. The benchmark failed to extend its gains and retreated immediately after the level test. Sellers kept moving DAX downwards during the European hours. The 4 hours chart showed that the price tested the 50-EMA. The benchmark remained between the 50 and the 100-EMAs during the European session. The moving averages kept heading higher in the mentioned timeframe. The resistance exists at 11600, the support stands at 11500.

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

Trading recommendations

A move below 11500 would indicate that immediate upward pressure eased. If the DAX index fixates below the current support it may reach the 11400 area in the short term.



S&P500

General overview

Wall Street opened in green as investors digested bank earnings reports awaiting for Janet Yellen's speech later the day.

Current situation

The index opened the day in green. The benchmark was able to grow and posted a daily high at 2268. S&P500 gave up its recent gains afterwards and eased towards 2260 in the European session. The price bounced off the 100-EMA and tested the-50 EMA in the 4 hours chat. The benchmark was between the 50 and the 100-EMAs during the European trades. The 50 and 100 EMAs were flat while the 200-EMAs kept heading higher in the same chart. The resistance is at 2280, the support comes in at 2260.

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

Trading recommendations

If sellers keep control a close below 2260 might force the price to resume its downward trajectory towards the 2240 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.

20.01.2017

Euro

General overview

The ECB left its rates unchanged: the deposit rate remained at -0.4% and the interest one at 0.0%. Moreover, the US dollar strengthened amid upbeat data. The Initial Jobless Claims came in green. Housing Starts showed strong figures as well. Investors’ attention now turns to Trump's inauguration which will take place on Friday.

Current situation

The downward trajectory lost its legs just below 1.0650 when sellers met a solid barrier which rejected the pair upwards. The euro reversed majority of its losses on Thursday. The spot broke 1.0650 ahead of the European session opening and headed towards 1.0700. However, the upward impetus soon faded, the recovery stalled above 1.0650. A fresh selling interest dragged the pair downwards. The spot broke 1.0650 and tested 1.0600 at the US session opening. The EUR/USD pair presented a neutral-to-bullish stance during the European hours. The 4 hours chart showed that the price stayed above the moving averages. The 100-EMA crossed the 200-EMA upwards. The 50 and the 100-EMAs pointed higher while the 200-EMA remained flat in the same chart. The resistance is at 1.0700, the support comes in at 1.0650.

MACD decreased which indicates the buyers’ positions weakening. RSI was within neutral territory.

Trading recommendations

We became bearish regarding the pair now. A break below 1.0650 would increase a negative signal and risk further easing of the EURUSD pair towards 1.0600, en route to 1.0550.



Pound

General overview

Housing Price Balance foe December came in worse than expecting slowing down the pound recovery on Thursday. The pound weakened further vs. the US dollar after the upbeat US data. We expect a number of UK's Retail Sales releases today which are expected with positive figures.

Current situation

The pound strengthened further on Thursday, sending the GBP/USD to its recent highs at 1.2400. The cable was able to reverse some of its losses amid broad dollar's weakness. Having found a local bottom at 1.2250 the spot reversed its direction and rallied upwards breaking 1.2300 in the European session. After passing the level the pair continued moving north targeting at 1.2400. Buying interest faded in the North American session. The price faced the downward rejection and turned lower. The price continued developing well between the 200 and the 100-EMAs in the 4 hours chart. The 50 and the 100-EMAs were neutral while the 200-EMA kept heading lower in the same chart. The resistance lies at 1.2400, the support comes in at 1.2300.

MACD grew which is a buy signal. RSI left the neutral area and entered overvalued territory.

Trading recommendations

The pound remained under the risk of falling deeper down. The 1.2400 hurdle coupled with the 200-EMA limited the pound further advance. A downtrend will start as soon, as the spot drops below the support level 1.2300. Further easing to 1.2200 is not ruled out. A break above 1.2400 will advance the spot to 1.2450.



Yen

General overview

J. Yellen’s remarks coupled with strong data boosted the US dollar demand. The strong labor market data and Housing Starts release supported the greenback on Friday. All eyes are on Trump's inauguration.

Current situation

The pair remained in a short-term downward channel staying around its upper limit on Thursday. Buyers lost their momentum after touching 115.00. The US dollar was in a consolidation phase during the Asian and European sessions. Traders struggled with the hurdle to resume their advance. The level, however, turned out to be a solid obstacle to break. The US dollar got under selling pressure on any up-move towards the level. A fresh bout of buying interest supported the U.S. dollar. The major attacked the 115.00 hurdle with fresh vigour during the NY hours. The price tested the 50-EMA in the 4 hours chart. The 100-EMA crossed the 200-EMA downwards. The 50 and the 100-EMAs maintained their bearish slope while the 200-EMA remained neutral in the mentioned timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD grew which indicates the sellers’ positions weakening. The RSI was within overvalued readings close to the neutral territory.

Trading recommendations

We believe that a break through 115.00 will put on hold bears’ plans. The potential buyers’ target is 116.00.



NZD/USD

General overview

New Zealand Business PMI posted positive figures while Building Permits came in red. Moreover, the kiwi as a commodity currency was supported by oil prices positive dynamics. The recent US data weighed on the NZD as well.

Current situation

The Asian recovery lost its steam after testing the level 0.7200. The hurdle appeared to be a tough nut to crack. After touching the level the NZD rolled back in the Asian session and remained below the resistance during the European hours. According to the 4 hours chart the spot hovered above its moving averages on Thursday. The 50 and 100-EMAs kept pointing higher while the 200-EMA was neutral in the mentioned chart. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD decreased which indicates the buyers’ positions weakening. The RSI left the neutral area and headed north.

Trading recommendations

Inability to retake 0.7200 may reverse the market. A sharp breakout below 0.7150 could spark a further easing towards 0.7100 in the coming days.



XAU/USD

General overview

The broad US dollar strengthening weighed on the precious metal. Besides a strong dollar gold prices softened amid the upbeat US data and the ECB decision to keep its rates unchanged.

Current situation

Gold prices remained under pressure on Thursday amid a strong dollar. The pair bounced off the 1200 psychological mark and remained around the handle during the day. The metal continued developing well above its moving averages in the 4 hours chart. The 50 and the 100-EMAs kept heading higher while the 200-EMA was flat in the same chart. The resistance exists at 1210, the support stands at 1200 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI stayed within the neutral territory.

Trading recommendations

We prefer to stay bearish for now. We would be selling gold only if the price drops below 1200. A firm break below 1200 handle could trigger fresh weakness for attack at 1190 dollars per ounce.



Brent

General overview

The US oil inventory draw gave a temporally support for oil prices. The market will be focused on Oil Rig Count in the coming sessions.

Current situation

Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session. Oil price stayed below the moving averages in the 4 hours chart. The 50-EMA crossed the 200-EMA downwards. The 100-EMA was flat while the 50-EMA headed lower, the 200-EMA maintained its bullish slope in the same chart. The resistance lies at 54.50, the support comes in at 53.50 dollars per barrel.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator was within the oversold readings.

Trading recommendations

Near-term technical studies are in full bearish setup. A daily close below 53.50 dollars per barrel will pave way for further near-term downslide towards the very important 50.00 psychological mark.



DAX

General overview

European bourses edged higher on Thursday after the ECB's decision to leave the rates unchanged. Meanwhile, mining stocks traded mixed while the financial sector shares moved broadly higher. Investors kept digesting Janet Yellen's comments. According to Yellen the Fed may raise the rates quickly this year.

Current situation

The index gapped higher at the daily open. However, the upmove lacked momentum immediately after the jump. The price softened filling the gap in the European session. Sellers broke 11600 and tried to push the price lower during the day. According to the 4 hours chart the index broke the 50-EMA upwards. The benchmark continued developing well above the moving averages afterwards. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 11600, the support stands at 11500.

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

Trading recommendations

In order to recover some strength, DAX30 needs to rise above 11600. However, as the most probable scenario, we consider further moving downwards towards the level at 11500.



NASDAQ

General overview

The US stocks opened higher amid the U.S strong data. Investors focused on key companies (IBM and American Express) earnings reports which will report after the bell. However, traders preferred wait and see mode ahead of Donald Trump's inauguration on Friday.

Current situation

The index traded in a tight range on Thursday. The price was sandwiched between 5060 and 5040 during the day. The benchmark started the day at the open limit of the band and moved down to its lower limit during the course of the European trades. The price stayed above the moving averages in the 1 hour chat. The 50-EMA crossed the 100-EMA downwards. The 50-EMA was flat while the 100 and the 200-EMAs kept heading higher in the same chart. The resistance is at 2280, the support comes in at 2260.

Trading recommendations

The market seems fairly balanced. The index feels comfortably in the current range. A clear break of either side is needed to signal fresh direction. Meanwhile we prefer to stay out of trades until we get a clear picture.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

23.01.2017

Euro

General overview

The dollar reversed some of its losses after hawkish J.Yellen's remarks. The euro ignored Germany PPI which came in a line with expectations. Markets focused on Trump's inauguration on Friday expecting to hear fresh guidelines from a new President. Traders wait for Draghi's speech and Germany Manufacturing PMI on Monday.

Current situation

Despite technical readings the pair held to its recent bullish tone on Friday. The EUR/USD pair remained in a near-term ascending channel. The price reached its upper boundary overnight and bounced off it at the beginning of the European trades. The spot pushed away from 1.0700 and reached 1.0650 in the mid-European session. The price broke the 50 and the 100-EMAs downwards and tested the 200-EMA in the 1 hour chart during the European hours. The 100 and the 200-EMAs kept heading higher while the 50-EMA headed downwards in the same chart. The resistance is at 1.0700, the support comes in at 1.0650.

MACD decreased which indicates the buyers’ positions weakening. RSI was within neutral territory favoring a new move lower.

Trading recommendations

A break below 1.0650 may trigger another leg lower. A daily close below 1.0600 handle would open 1.0550. However, a lower limit of an upward channel is a solid obstacle which may reject the pair once again. If the level holds the EUR/USD pair will refresh to the current highs at 1.0720.



Pound

General overview

The pound lost its impetus amid worse than expected Retail Sales. Despite the negative data the sterling maintained its upbeat tone on Friday`.

Current situation

The Asian recovery stalled a few pips below 1.2400. After posting a daily high at 1.2374 the spot turned around and headed towards 1.2300. Sellers broke the level in the mid-European session and led the pair towards 1.2250. However, a revived buying interest stopped sellers' advance and returned the cable to 1.2300 ahead of the NY opening. The spot failed to retake the 200-EMA in the Asian session and bounced off the moving afterwards. GBP/USD pair headed towards neutral 100-EMA in the European session. The moving averages were mixed: the 100-EMA was neutral, the 200-EMA kept heading lower while the 50-EMA pointed higher in the 4 hours chart. The resistance lies at 1.2400, the support comes in at 1.2300.

The MACD histogram decreased which indicates the sellers’ growing strength. RSI left the overvalued readings and headed south.

Trading recommendations

A break below 1.2300 may suggests further weakness of the GBPUSD pair. The price might extend the downtrend towards the 1.2200.



Yen

General overview

The dollar weakened after J.Yellen's hawkish speech. However, the greenback reverted some losses on Friday on expectations of D.Trump's speech after his inauguration.

Current situation

The USD/JPY pair extended its recovery on Friday. The US dollar was struggling with the 115.00 hurdle during the Asian session. Bulls broke the level ahead of the European session opening. However, the spot lost its upward impetus soon and returned to 115.00. According to the 4 hours chart the price bounced off the 50-EMA in the Asian session. The spot was between the 100 and the 50 EMAs during the European hours. The 50 and the 100-EMAs pointed lower while the 200-EMA remained flat in the mentioned timeframe. The resistance is highlighted at 116.00, the support comes in at 115.00.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. The RSI stayed within overvalued readings.

Trading recommendations

The overall outlook remained bullish, for a rise towards 116.00 resistance area. After the hurdle break a further extension towards 117.00 could be observed further. If the level 115.00 fails to support bulls the USD/JPY pair may lost its ground again returning to a downside.



USD/CAD

General overview

The Canadian regulator disappointed investors with Retail Sales and Consumer Price index reports. Both indices came in worse than expected. However this data had little effect on the CAD which was under pressure amid broad base the US dollar strength.

Current situation

The pair held a bullish tone on Friday. Strong bullish sentiment was driving the pair towards 1.3330 in the first part of the day. Buyers managed to break the level in the mid-European session and continued moving upwards afterwards. The pair almost reached 1.3400 when the US dollar lost its impetus and retreated to 1.3330 in the NY session. The price broke all moving averages upwards and stayed above them during the day. The 50-EMA pointed higher, the 100-EMA headed lower while the 200-EMA remained neutral in the 4 hours chart. The resistance is highlighted at 1.3400, the support comes in at 1.3330.

The MACD histogram grew which indicates buyers’ strength. The RSI stayed within the overvalued readings favoring a new move higher.

Trading recommendations

The bullish trend remained intact. A close above 1.3330 may trigger gains towards 1.3400. USD/CAD may extend its rally after a solid close above 1.3400. Inability to break above 1.3400 may bring some negative sentiment to markets. If sellers seize control they will push the price to 1.3190.



XAU/USD

General overview

Risk aversion in the first part of the week helped the metal to strengthen. However, the risk-on mood returned on Friday and the US dollar managed to reverse a minor part of its losses.

Current situation

The Asian recovery lost its momentum at 1210 dollars per ounce. The level rejected the XAU/USD pair sending it towards 1200 during the European early hours. The precious metal declined and tested the 1200 handle in the mid-European session. Sellers failed to reclaim the level and retreated. The precious metal remained around the level till the end of the trades. The 1 hour chart showed that the price broke the 50 and the 100-EMAs downwards during the Asian trades and tested the 200-EMA ahead of the NY session opening. The 50-EMA crossed the 100-EMA downwards in the same chart. The 100 and the 200-EMAs maintained their bullish slope while the 50-EMA pointed lower. The resistance exists at 1210, the support stands at 1200 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI left the neutral territory and headed downwards.

Trading recommendations

A clear break below the 1200 support will indicate that the upward movement had completed. The following downward movement could bring price back to 1190 area, en route to 1180 dollars per ounce.



Brent

General overview

The upbeat Q4 GDP in China supported the demand for oil on Friday. Moreover, Brent grew amid renewed hopes of tighter oil market in 2017. However, oil growth may be limited amid concerns regarding EIA crude inventory report. An inventory increase may weigh on the price and cut its recent gains.

Current situation

Brent extended its consolidative pattern in the Asian session on Friday. A fresh buying interest emerged ahead of the European session opening. The benchmark edged higher and tested the level 54.50 dollars per barrel during European morning trade. Oil prices extended their gains afterwards and broke the mentioned level in the mid-European session. Buyers did not stop and pushed the price higher testing 55.50 in the NY session. The price tested the 50-EMA in the 4 hours chart in the European session. The price continued developing well below the moving averages. The 50 and the 200-EMAs were flat while the 100-EMA headed lower in the mentioned timeframe chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD traded to the upside. The RSI left the oversold readings and headed north.

Trading recommendations

The bullish scenario prevailed on Friday. We will place buy orders if the benchmark does a breakout at the resistance level of 55.50. The next potential buyers’ target is 56.50 dollars per barrel.



DAX

General overview

European stocks edged higher on Friday awaiting for D.Trump’s inauguration. Financial stocks moved higher while mining ones added to losses on Friday.

Current situation

The index gapped higher at the daily open on Friday. Traders broke 11600 right after the gap and pushed the benchmark higher afterwards. The benchmark stayed above the moving averages which kept heading higher in the 4 hours timeframe. The resistance exists at 11700, the support stands at 11600.

MACD indicator was at the centerline. If the histogram returns the positive territory, that will indicate buyers’ growing strength. If MACD enters into the negative area the sellers will take control over the market. RSI remained within the neutral area favoring a new move higher.

Trading recommendations

A bullish tone prevailed on Friday. After close above the 11600 level the 11700 hurdle could become an attractive price for investors.



S&P500

General overview

The US stocks traded higher at the US session opening awaiting for Donald Trump's message in his inaugural speech.

Current situation

The index opened green on Friday. Traders pushed the benchmark higher heading towards the mark 2270. According to the 4 hours chart the price broke the 100-EMA upwards and tested the 50-EMA. The benchmark stayed above the 200 and the 100-EMAs during day. The 50 and the 100-EMAs were flat while the 200-EMA kept heading higher in the same chart. The resistance is at 2280, the support comes in at 2260.

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

Trading recommendations

We prefer to stay bullish for now. The short term outlook will be bullish as long as the price holds above 2260 level.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

24.01.2017

Euro

General overview

The calendar remained thin and uneventful on Monday. The pair was influenced by broad base dollar retracement. Donald Trump's inaugural speech disappointed investors with absence of clear comments regarding taxes or investment measures. The market will be focused on PMI Composite and Manufacturing PMI from Markit in Germany on Tuesday.

Current situation

The common European currency maintained its bid tone for the 3rd consecutive session on Monday. The euro reached the level 1.0750 in the early trades which stopped its further advance. After touching the level the pair rolled back maintaining its bullish stance during the European hours. The spot extended its losses ahead of NY session opening. The 1 hour chart showed that the price continued developing well above its moving averages. The 50-EMA crossed the 100-EMA upwards. The moving averages pointed higher in the same chart. The resistance is at 1.0750, the support comes in at 1.0700.

The MACD histogram grew which indicates buyers’ strength. RSI stayed within the overvalued readings favoring a new move higher.

Trading recommendations

A bullish tone prevails in the 4 hours chart. A break above 1.0750 may suggest further growth of the EURUSD pair towards 1.0800. In case of a bounce from 1.0750, the currency pair would fall as low as 1.0650.



Pound

General overview

The pound strengthened amid the US dollar weakness. The dollar softened after D.Trump’s inauguration speech which lacked any hints of his future program.

Current situation

The pound traded in the green zone on Monday extending its Friday's gains. The cable left the seven-week descending channel on Friday. The spot broke the level 1.2400 in the early Asian trades and advanced north during the European trades on Monday. The upward trajectory stopped a few pips below 1.2500 where a fresh bout of selling interest weighed on the spot. The price broke the 50, 100 and 200 EMAs upwards and stayed above them in the 4 hours chart. The 50 and 100-EMAs kept heading higher while the 200-EMA pointed lower. The resistance lies at 1.2500, the support comes in at 1.2400.

The MACD histogram grew which indicates buyers’ strength. RSI remained in the overvalued readings and headed higher.

Trading recommendations

We expect GBPUSD pair to trade bullish for now. Once the GBP/USD pair breaks above 1.2500, we think that the 1.2550 level will be next.



Yen

General overview

The US dollar edged lower vs. the yen on Monday amid growing concerns that Trump’s first steps as the US President may bring instability in the Asian region causing «economical wars» with leading Asian economics.

Current situation

The USD/JPY pair stayed in the red zone on Monday. The spot found a solid support around 113.00 in the Asian session and recovered some ground during the European hours. After testing the 113.00 handle the price reversed its direction and grew up to 114.00 where it slowed down its recovery. A fresh selling interest emerged ahead of the NA session opening sending the pair to 113.00. The price broke the 50-EMA downwards in the Asian session in the 4 hours chart. The spot stayed below its moving averages on Monday. The 50 and the 100-EMAs kept heading lower while the 200-EMA was neutral in the mentioned timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI consolidated within oversold readings close to the neutral area.

Trading recommendations

Technical studies are in favour of the negative outcome. The USD/JPY pair risks falling back to 113.00 which is expected to limit its losses.



AUD/USD

General overview

Lack of clarity over Donald Trump's plans for economic stimulus weakened the US dollar. Moreover, the upbeat sentiment around commodities, especially Copper, boosted demand for AUD on Monday.

Current situation

The AUD/USD pair stayed in the near-term upward channel trading around its recent highs on Monday. The spot extended its buying momentum in the early trades. The Aussie broke the level 0.7550 in the Asian session and posted the daily high at 0.7575. The spot rolled back afterwards and returned to 0.7500 region. The price broke the 50-EMA downwards and tested the 100-EMA in the 1 hour chart. The moving averages were all pointing higher in the same chart. The resistance is highlighted at 0.7600, the support comes in at 0.7550.

MACD decreased which indicates the buyers’ positions weakening. The RSI stayed within the overvalued readings close to the neutral area.

Trading recommendations

In the 4 hours chart, the technical picture favors an upward extension. The 0.7600 hurdle seems the first probable bullish target. Should this mark be reached successfully, a further extension towards 0.7650 could be observed further.



XAU/USD

General overview

Traders have not changed their opinion preserving upbeat tone on Monday. The demand for the metal grew amid uncertainty around Trump's proposed fiscal policy measures. A weak sentiment surrounding equity markets lent some support to the precious metal as well.

Current situation

Gold turned bearish on Monday. The metal eased off from its daily high as traders decided to book some profits after the recent rally. The XAU/USD pair pushed away from 1220 dollars per ounce in the Asian session and reached 1210 in the mid-European one. The 50, 100 and 200 EMAs kept heading higher in the 4 hours chart. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator moved downwards.

Trading recommendations

The precious metal is likely to extend its bearishness. The price eyes strong support at 1200 loss of which would trigger further weakness towards 1190 dollars per ounce. To revive its buying momentum the metal needs to retake 1220.



Brent

General overview

Oil prices moved lower on Monday amid a strong recovery in U.S. oil drilling activity. The prospects of rising U.S. production overwhelmed the news that OPEC members began lowering their oil output.

Current situation

The bearish scenario prevailed on Monday. After an Asian flat the price moved lower during the European yearly hours. The benchmark pushed away from 55.50 and headed towards 54.50 dollars per barrel. Brent tested 50 and 200 EMAs downwards in the 4 hours chart during the European hours. The 50, 100 and 200 EMAs stayed neutral during the day. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI indicator left the overvalued readings and headed south.

Trading recommendations

If a downward pressure persists there is a chance of breaking 54.50 dollars per barrel. A cut here will open the road towards 53.50.



DAX

General overview

European stocks traded lower on Monday after Trump’s inaugural speech. The financial sector was down together with energy stocks. Shares of Essentra lost 5% which contributed to the stocks decline as well.

Current situation

Bears seized the ball on Monday. The index gapped downwards at the daily open and extended its weakness afterwards. Sellers pushed the price downwards and tested the level 11500 post-European session open. The price bounced off the level after touching it and erased some of its recent losses. The DAX index broke the 50-EMA and tested the 100 EMA in the 4 hours chart during the European trades. The 50 and 100 EMAs turned neutral while the 200-EMA maintained its bullishness. The resistance exists at 11600, the support stands at 11500.

The MACD histogram decreased which indicates the sellers’ growing strength. RSI moved to the downside.

Trading recommendations

If the price overcomes 11500 we could see DAX extending its declines down to 11400. A further extension to 11300 is not ruled out.



NASDAQ

General overview

Wall Street traded lower in the premarket after Donald Trump’s inaugural speech. The disappointment from the US President Donald Trump's speech was behind the market's decline. Investors turned to earnings which are scheduled for this week.

Current situation

The index turned lower on Friday and continued losing its value on Monday. Sellers returned the price below 5060 and pushed the benchmark lower. The downward momentum lost its legs when the price reached 5040. The index broke the 50-EMA downwards in the 4 hours chart. All moving averages keep heading higher. The resistance is at 5060, the support comes in at 5020.

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 headed downwards confirming sellers’ strength.

Trading recommendations

In order to recover some strength, NASDAQ needs to rise back and hold above 5040. In this scenario the benchmark has a chance of maintaining its bid tone. Conversely, a break below 5020 will put on hold bulls’ plans. A firm break below the handle could trigger fresh weakness for attack at 5000.



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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

25.01.2017

Euro

General overview

Manufacturing PMI in Germany posted better-than-expected results. Services PMI showed on the contrary negative figures. The market will be focused on Business Climate in Germany on Wednesday.

Current situation

Sentiment remained bullish towards the euro on Tuesday. The EUR/USD traded in an ascending channel close to its upper limit. Euro bulls met a barrier at 1.0750 and failed to advance further. After posting a daily high at 1.0770 in the Asian session bulls stepped back and returned the pair to the 1.0750 region. The spot remained above the moving averages in the 4 hours chart. The 50 and 100 EMAs kept heading higher while the 200 EMA stayed neutral. The resistance is at 1.0750, the support comes in at 1.0700.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator is near overvalued territory, favoring a move lower.

Trading recommendations

A close above 1.0750 will generate fresh bullish signal for further advance towards 1.0800. Inability to move beyond the level may cause a pull back. The EUR/USD pair may correct lower to 1.0670 and 1.0650.



Pound

General overview

Traders booked some profits ahead of the UK Supreme Court's decision on Brexit. The Supreme Court had to decide whether Parliament approval is required to launch Article 50.

Current situation

The bullish market structure remained in place on Tuesday. Buyers failed to retake 1.2500 and had to retreat giving the floor to sellers. A fresh buying interest around the US currency helped the US dollar to recover from the recent lows. Sellers pushed the price lower in the Asian session but failed to advance below the mark 1.2460 before the European session. The pair continued its slide towards 1.2450 ahead of the NY session opening. The moving averages were mixed in the 4 hours chart. The 200-EMA remained bearish while the 50 and 100 EMAs were turning upwards. Moreover, the 50-EMA crossed the 100-EMA upwards. The resistance lies at 1.2500, the support comes in at 1.2400.

The MACD histogram decreased which indicates the sellers’ growing strength. The RSI indicator remained within overbought readings.

Trading recommendations

Sustained break above the 1.2500 region is seen as minimum requirement needed to confirm bullish resumption. In this scenario, buyers may lead prices towards 1.2540, en rout to 1.2600. To ease the current upward pressure the spot needs to close below 1.2400. We will buy before this level reaching.



Yen

General overview

The yen received a light support from the upbeat Manufacturing PMI. Moreover, the uncertainty around Trump’s economic agenda kept on weighing on the US dollar.

Current situation

Sellers continued to dominate on Tuesday. However, bears seem to have taken a breath after meeting the solid support around multi-week lows at 112.50. The price bounced from the 112.50 support zone in the Asian session and developed a goodish recovery building on to its momentum back above 113.00 handle afterwards. After breaking the level the USD/JPY pair extended its growth in the European session. The US dollar had reversed half of Monday's sharp drop by the NY session opening. According the 4 hours chart the pair remained below its moving averages. The 50 and 100 EMAs advanced south while the 200-EMA remained neutral. The resistance is highlighted at 114.00, the support comes in at 113.00.

The technical indicators bounced from oversold levels staying within negative readings. The MACD histogram grew which indicates buyers’ growing strength. RSI bounced off the oversold area and headed north.

Trading recommendations

If bears retain control the spot will return below 113.00. This scenario risks the advance towards 112.00. To put on hold bears’ plans buyers need a clear break above 114.00.



NZD/USD

Current situation

The bullish momentum faded in the Asian session on Tuesday. The price gave up it recent gains and rolled back below 0.7250 in the late Asian session. Sellers extended their gains pushing the spot towards 0.7200 during the European hours. The selling interest lost its legs after touching the handle which rejected the price upwards. The pair remained above the 50, 100 and 200 EMAs in the 4 hours chart. The 50 and 100 EMAs maintained their bullish slope while the 200-EMA remained flat. The resistance is highlighted at 0.7250, the support comes in at 0.7200.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator was holding near oversold levels, favoring a move lower.

Trading recommendations

The 0.7250 hurdle seems the next probable bullish target. After breaking this level 0.7300 will come back to the radar. A return below 0.7150 risks a decline back towards the support at 0.7100.



XAU/USD

General overview

Uncertainties around Trump's Presidency continued weighing on gold prices limiting a downslide on Tuesday.

Current situation

Despite the ongoing easing the precious metal remained in green on Tuesday. The resistance 1220 dollars per ounce appeared to be a tough nut to crack. After testing the level the metal bounced back in the Asian session and returned to 1210 in the European one. Sellers lost their steam around the handle waiting for new market movers. The 50 and 100 EMAs kept their advance north while the 200-EMA just turned upwards. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI moved to a downside.

Trading recommendations

If the XAU/USD pair stays above 1210 dollars per ounce the gold spot may escalate up to 1220 first, en route to 1230.



Brent

General overview

Oil prices edged higher on Tuesday following output cuts announced by the OPEC on Monday. All eyes are on API inventory report.

Current situation

Oil prices rebounded in the Asian session on Tuesday. The buying sentiment was boosted by a weaker US dollar. However, the Asian recovery stalled above 55.50 dollars per barrel when the benchmark found fresh offers. Brent sharply dropped and broke the level 55.50 erasing all its recent gains. The benchmark bounced off the 50-EMA and tested the 100 and 200 EMAs in the 4 hours chart in the mid-European session. All moving averages were neutral. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations

Brent seems to be unable to climb over 55.50. Sellers returned the price to the level on any up-move higher. A close below the hurdle will trigger losses towards 54.50 dollars per barrel. To revive bullishness oil prices need to retake the 55.50.



DAX

General overview

European stocks moved lower on Tuesday on UK Supreme Court decision regarding Brexit. The Prime Minister will require parliamentary approval to launch Brexit now. Energy stocks traded higher, financial stocks registered gains as well.

Current situation

The index remained under pressure on Tuesday. DAX stayed below 11600 getting under selling pressure on any up-move towards the hurdle. The benchmark failed to retake the 50-EMA in the 4 hours chart. The DAX index stayed between the 50 and 100 EMAs during the European hours. The 50, 100 and 200 EMAs maintained their bullish slope. The resistance exists at 11600, the support stands at 11500.

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

Trading recommendations

We await a break below 11500 to trigger a new leg lower.



S&P500

Current situation

The index traded in the negative area on Tuesday. The benchmark stayed around the level 2260 trying to break it lower. S&P500 was struggling with the 100-EMA in the 4 hours chart during the day. The 50-EMA acted as a resistance for the index. The 50 and 100 EMAs were neutral while the 200-EMA moved upwards. The resistance is at 2280, the support comes in at 2260.

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

Trading recommendations

If a selling interest persists a move below 2260 would revive bearishness towards 2240.





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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

26.01.2017

Euro

General overview

The European common currency got under selling pressure in the morning trades on Wednesday amid negative Business Climate release in Germany. A demand for the euro emerged in the European session helping the major to reverse its losses climbing to fresh highs.

Current situation

Bears tried to take control over the market on Wednesday. After a night consolidation sellers made an attempt to move the price lower at the beginning of the European session. The price headed towards 1.0700 first, however, the selling interest faded soon. The pair found fresh bids above 1.0700 and extended its corrective rally on risk-on trades. The common currency rallied and reversed all Tuesday’s losses by the noon. The spot hovered above its moving averages in the 4 hours chart. The 50 and the 100-EMAs maintained their bullish slope while the 200-EMA remained neutral in the same chart. The resistance is at 1.0750, the support comes in at 1.0700.

MACD grew which indicates the buyers’ positions strengthening. RSI stayed within overvalued readings.

Trading recommendations

A bullish tone prevailed in the 4 hours chart. We will place buy orders if the EURAUD does a breakout at the resistance level of 1.0750. The pair might extend its gains towards 1.0800 afterwards. Meanwhile, inability to climb above 1.07500 risks a decline back to 1.0700.



Pound

General overview

The UK Industrial Trends Survey - Orders grew for January providing support for the cable. Investors kept weighing up M.Carney's remarks. The immediate focus now remains on the UK GDP for 4Q. Traders expect a light decline in the GDP.

Current situation

The GBP/USD pair kept its rangebound stance unchanged the first part of Wednesday. The spot traded in a tight range flirting with 1.2500 during the day. A fresh buying impetus boosted the GBP/USD pair to 1.2600 after London's opening. The spot continued developing well above its moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 50 and the 100-EMAs kept heading higher while the 200-EMA pointed lower in the mentioned timeframe. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD remained at the same level which confirms the strength of buyers. RSI indicator consolidated within overvalued readings favoring a new move higher.

Trading recommendations

Strategically, we preserve bearish outlook and see risks of a move down towards 1.2400 over the coming weeks. Meanwhile, the price maintained its bullish tone in the 4 hours chart. The GBP/USD pair now seems to be heading towards its immediate resistance near 1.2700. However, the spot needs to break the 1.2600 level first to maintain its bullishness.



Yen

General overview

Protectionist rhetoric from the White House kept weighing on the dollar. Exports and Merchandise Trade Balance in Japan showed upbeat data supporting the national currency.

Current situation

USD/JPY remained in bearish trend. Tuesday’s recovery stalled when the price met a barrier at 114.00. Buyers failed to retake the level which rejected the USD/JPY pair downwards. The spot rolled back and stopped a few pips below the hurdle. The pair was confined to a well limited range below 114.00 during the European hours and continued its slide ahead of the NY session opening. The 4 hours chart showed that the price tested the 50-EMA in the early trades. The US dollar failed to reclaim the 50-EMA and bounced off it. The benchmark remained below its moving averages. The 50 and the 100-EMAs kept heading lower while the 200-EMA stayed flat in the mentioned timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD grew which indicates the sellers’ positions weakening. The RSI remained within the neutral area.

Trading recommendations

We expect to see renewed bearish pressure in the coming sessions. Sellers may drive the pair to 113.00 first, en route to 112.50.



USD/CAD

General overview

Trump’s plans to revive Keystone XL and Dakota Access oil pipelines weighed on the Canadian dollar. However, the Loonie recovered some ground later the day in the light of weaker oil prices.

Current situation

The US dollar remained rather unchanged against its Canadian peer. After a sharp sell-off sellers took a breath consolidating their gains. The price hovered above 1.3120 in the morning after being rejected in the early Asian trades. A fresh buying interest emerged in the mid-European session pushing the US dollar upwards. An attempt to raise rates failed and a downward pressure returned the spot to 1.3120 in the mid-European session. The CAD broke 100 and 50-EMAs downwards in the 4 hours chart. The USD/CAD pair stayed below the moving averages afterwards. The 100-EMAs kept heading lower while the 50 and the 200-EMAs were neutral in the same chart. The resistance is highlighted at 1.3190, the support comes in at 1.3120.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI consolidated within the oversold readings.

Trading recommendations

The overall outlook remains bearish, for a fall towards 1.3050 support area. However, the USD/CAD is oversold and we do not rule out a minor correction towards 1.32.



XAU/USD

General overview

Uncertainty around Trump’s economic agenda and lack of US data softened the US dollar. Gold took an advantage of weaker dollar and strengthened. Markets now eagerly await the US Housing Price Index report.

Current situation

Gold prices turned negative after the opening. The XAU/USD pair came under some profit-taking pressure on Wednesday. Bears seized control and pushed the price downwards. The metal pushed away from the 1210 dollars per ounce in the Asian session and headed downwards. European traders continued dragging gold futures downwards and reached 1200 in the mid-European session. However, the level limited sellers’ advance rejecting the gold spot. According to the 4 hours chart the price broke the 50-EMA downwards and stayed between the 50 and the 100-EMAs afterwards. The 50 and the 100-EMA pointed higher, while the 200-EMA remained flat. The resistance exists at 1210, the support stands at 1200 dollars per ounce.

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

Trading recommendations

The uptrend is not over yet. The buying interest remains while 1195 pivot holds. We expect gold prices to resume their growth. A break above 1210 will suggest its further strengthening towards 1220 dollars per ounce.



Brent

General overview

Oil prices edged lower ahead of the EIA crude stockpiles report.

Current situation

Traders remained equally divided between bulls and bears on Wednesday. Brent failed to sustain a minor-recovery above 55.50 hurdle and extended losses below the last. The price remained in a tight range during the Asian session. Traders made an attempt to lower the price in the early European session but succeeded in the second one. The price broke its moving averages downwards in the 4 hours chart. The moving averages remained flat in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations

We suppose the benchmark will go to 54.50 first. Having overcome the first target the price might advance towards 53.50 dollars per barrel.



DAX

General overview

European stocks traded in green on Wednesday. The latest earnings reports supported stocks. The growth was boosted by Logitech and Banco Santander upbeat figures.

Current situation

The index gapped higher at the daily open. The benchmark maintained its bid tone afterwards. Buyers pushed the price through 11700 in the early European trades. DAX extended its rally in the late European hours approaching to 11800. The 4 hours chart showed that the price broke the 100 and 50 EMAs upwards. The benchmark moved away from the moving averages which kept heading higher in the mentioned timeframe. The resistance exists at 11800, the support stands at 11700.

The MACD histogram grew which indicates buyers’ strength. RSI stayed within overvalued readings favoring a new move higher.

Trading recommendations

We prefer to stay bullish for now. If the benchmark stays above 11700 DAX will aim at 11800.



NASDAQ

General overview

Wall Street futures hit record highs on Wednesday. The post-election rally seems to have returned boosted by President Trump's push for pro-growth policies.

Current situation

The index had a positive day on Wednesday. A brief consolidation phase was over by the European trades opening. European traders pushed the price higher which rallied towards 5120. The upward impetus faded about the mark ahead of the NY session opening. NASDAQ continued developing well above its moving averages in the 4 hours chart. The 50, 100 and 200-EMAs accelerated their advance north in the same chart. The resistance is at 5140, the support comes in at 5100.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed near overbought levels, favoring a new move higher.

Trading recommendations

The technical picture presents a bullish tone. A break above 5100 opened the way to the 5140 hurdle.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

27.01.2017

Euro

General overview

Investors ignored positive Eurozone data: Consumer Confidence Survey in Germany showed better than expected results, Unemployment Survey in Spain declined more than expected. The immediate focus now remains on US GDP which is set for Friday.

Current situation

The EUR/USD remained in bulls' hands on Thursday. The market seemed fairly balanced amid lack of market mover. The euro remained in a tight range between 1.0720-1.0750 during the Asia session. European traders pushed the price lower. The common European currency dropped and touched 1.0700 in the mid-European session. The spot broke the 50-EMA and tested the 100-EMA in the 1 hour chart. The 100 and the 200-EMAs pointed higher while the 50-EMA remained neutral in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

MACD decreased which indicates the buyers’ positions weakening. RSI left overvalued readings and moved south.

Trading recommendations

We prefer to stay bearish for now. A move below 1.7000 will signal the presence of sellers. The pair EURUSD may go downwards towards 1.0650 after the level break. If the price closes above 1.0750, the market may continue moving upwards.



Pound

General overview

The UK's Q4 GDP came in better-than-expected supporting the national currency. Moreover, the pound received extra support after Supreme Court decision which ruled that Article 50 requires parliamentary approval to be launched. We expect US Gross Domestic Product Price and Durable Goods Orders releases on Friday. We will also be keeping a close eye on Trump and May's meeting. Theresa May will become the first foreign leader to meet the new President.

Current situation

The pound surprised markets on Wednesday, having successfully climbed over the 1.26 hurdle. After reaching multi-month highs the GBP/USD pair slowed down. Buyers seem to have completed an upside impulse for now. Having run out of steam bulls stopped at 1.2650 in the mid-European session and gave way to sellers. Bears pushed the price lower and tested 1.2600 ahead of the NY session opening. The spot extended its losses in the early US trades. The 4 hours chart showed that the price hovered above its moving averages. The 50-EMA crossed the 200-EMA upwards. The 50 and the 100-EMAs maintained their bullish slope while the 200-EMA was neutral in the mentioned timeframe. The resistance lies at 1.2600, the support comes in at 1.2500.

The MACD histogram grew which indicates buyers’ strength. RSI indicator consolidated within overvalued readings.

Trading recommendations

Technically the GBP/USD pair is heavily overbought. We expect a correction move below 1.2600. If the spot fixates below the handle we could see GBPUSD extending its declines down to 1.2500.



Yen

General overview

The yen weakened despite existing risks towards world trade which keep supporting the safe-heaven yen. Japan will release CPI figures in the night.

Current situation

Bears lost the ball on Thursday. The pair stayed range-bound-to higher in the Asian session. An upward impetus emerged ahead of the European session opening. The US dollar bounced off 113.00 and moved towards 114.00 during the morning hours. The U.S dollar accelerated its recovery post-European open and jumped to fresh session peak above 114.00 level. The price broke the 50-EMA upwards in the 4 hours chart. The spot continued developing well below the 100 and the 200-EMAs afterwards. The 50 and the 100-EMAs pointed lower while the 200-EMA remained neutral in the same chart. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD grew which indicates the sellers’ positions weakening. The RSI left the neutral area and moved north.

Trading recommendations

Bulls keep focus at 114.50. If they start to challenge this area it is likely to break and the price may move towards the 115.00 hurdle.



AUD/USD

General overview

The Australian market was closed amid Australia Day. The Aussie softened on the back of the U.S. dollar recovery. Moreover, falling Chinese industrial profits weighed on the Australian dollar.

Current situation

The AUD/USD remained in an ascending channel. However, buyers have no strength to go higher any more. The Asian recovery stalled at 0.7583. The AUD dropped at the beginning of the European session and broke the 0.7550 handle. Sellers continued leading the price lower in the NY session. According to the 4 hours chart the pair tested the 50-EMA. The spot stayed above the moving averages during the day. The 50 and the 100-EMAs kept heading higher while the 200-EMA remained neutral in the same chart. The resistance is highlighted at 0.7550, the support comes in at 0.7500.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI left the overvalued readings and entered the neutral area.

Trading recommendations

We prefer to put on hold bulls’ plans for now. A break below 0.7550 might force the AUD/USD pair to resume its downward trajectory towards 0.7500.



XAU/USD

General overview

Gold prices edged lower following European and EU stocks rally. However, concerns over Trump’s protectionism kept limiting the US dollar recovery especially after Donald Trump signed a set of immigration laws on Wednesday.

Current situation

Gold prices remained under heavy selling pressure on Thursday. Sellers failed to move the price below 1193 in the night. The XAU/USD pair bounced off the mark and reversed some losses. The upward impetus, however, lost its legs at 1202 dollars per ounce in the late Asian session. The price turned around and returned below the handle in the European hours. The yellow metal continued trading in negative ground during the day and broke 1190 ahead of the NY session opening. The price broke the 50 and the 100-EMAs downwards in the 4 hours chart. The 50 and the 100-EMA remained bullish, while the 200-EMA was flat. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI consolidated within oversold readings.

Trading recommendations

To maintain control sellers need to retake 1190 dollars per ounce. In light of this scenario sellers will drive gold spot to 1180. To revive bullishness the precious metal needs to return above 1205-1210 dollars per ounce.



Brent

General overview

Weaker dollar supported demand for oil. However, Brent growth was limited amid a large number of supplies and bulging inventories despite OPEC’s attempts to cut output.

Current situation

Brent extended its consolidation on Thursday. The price traded comfortably around 55.50 during the day. As we see the level is defended by sellers as any buyers' attempt to move the benchmark higher failed. The 50, 100 and 200-EMA were neutral in the 4 hours chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations

The technical picture presented a bullish tone. Our next short-term target for the oil price is 56.50, after which we see Brent extending its rise over coming days towards the 57.50 dollars per barrel.



DAX

General overview

European stocks traded higher following the news that Johnson & Johnson is to buy Actelion for $30 billion. Meanwhile, mining stocks traded mixed while financial stocks were on upside.

Current situation

The tone was positive in the market on Thursday. The index gapped higher at the daily open. DAX continued moving higher after the gap and reached 11900 in the early European trades. Buyers failed to retake the level and stayed a few pips below the hurdle during the day. The benchmark hovered above its moving averages in the 4 hours chart. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 11900, the support stands at 11800.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator remained within overvalued readings favoring a new move higher.

Trading recommendations

The price maintained its bullish tone in the 4 hours chart. A close above 11800 will trigger gains towards 11900.



S&P500

General overview

U.S. stock posted fresh record highs amid upbeat corporate earnings reports.

Current situation

The bullish market structure remained in place on Thursday. S&P500 extended its vertical rise and tested the level 2300 in the early Asian trades. The hurdle limited the further bulls' advance and rejected the price downwards. The spot continued developing well above its moving averages in the 1 hour chart. The 50 and the 100-EMAs crossed the 200-EMA upwards. The moving averages maintained their bullish slope in the same chart. The resistance is at 2300, the support comes in at 2280.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator consolidated within overbought levels.

Trading recommendations

If the bullish tone persists we expect a breakout of the level 2300. The next level to focus on is 2320.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

30.01.2017

Euro

General overview

The euro weakened amid the US dollar growing strength. The lack of market moving news in the calendar left the common currency flat-out.

Current situation

The euro continued its slide overnight and left the short-term upward channel. The common European currency traded mixed in the Asian session staying in a tight range 1.0650-1.0690. The pair maintained its neutral stance during the early European hours. The euro found fresh bids around 1.0700 and rallied through the level heading towards 1.0750 ahead of the NY opening. The price broke the 50-EMA downwards in the 4 hours chart. The spot stayed above the 100 and the 200-EMAs afterwards. The 50 and the 100-EMAs headed north while the 200-EMA remained flat in the mentioned timeframe. The resistance is at 1.0750, the .support comes in at 1.0700.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was within oversold readings close to the neutral area.

Trading recommendations

A close above 1.0700 will generate fresh bullish signal for further advance, which could extend to 1.0750 level.



Pound

General overview

The pound weakened amid a growing demand for the US dollar. The cable has a chance to return some ground after Trump and May’s meeting. The downbeat US data may also kick the cable higher.

Current situation

The pound continued losing its value vs. the dollar in the Thursday’s night. The spot pushed away from 1.2600 and moved towards 1.2500 during the Asian hours. The pound continued losing its value in the European session approaching 1.2500. The level, however, stopped sellers’ advance and rejected the spot upwards. The price continued developing well above its moving averages in the 4 hours chart. The 50 and the 100-EMAs kept pointing higher while the 200-EMA was neutral in the mentioned timeframe. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator left the overvalued readings and entered the neutral area.

Trading recommendations

The bullish trend remained intact and the cable has a chance to return some ground if it gets above 1.2600. A breakout of 1.2600 level would aim for 1.2700. On the other hand existing selling pressure may lead the spot below 1.2500 aiming the pair to 1.2400.



Yen

General overview

The yen softened amid broad US dollar recovery. The growing US yields weighed on the Japanese currency as well.

Current situation

The USD/JPY pair maintained its bid tone on Friday. The pair traded with slight gains in the Asian session. Buyers broke the level 115.00 in the night and continued moving higher afterwards. The pair extended its bounce in the European session when the price broke 115.00 and advanced further. The 4 hours chart showed that the price broke the 50 and the 100-EMAs upwards. The 100-EMA pointed lower while the 50 and the 200-EMAs remained flat in the same chart. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. The RSI was within the overvalued readings favoring a new move higher.

Trading recommendations

If the level 115.00 holds we recommend going short with the first target – 114.00. The US dollar needs to fixate above 115.00 before a price can rally towards 116.00.



NZD/USD

General overview

The US dollar maintained its bid tone on Friday. Markets waited for Trump’s new steps and the US GDP for Q4.

Current situation

The pair remained in an ascending channel on Friday. The downward impetus pushed the price to its lower limit on Thursday. An overnight recovery failed to show meaningful results. Only European traders managed to push the spot higher. The NZD/USD extended its recovery in the North American session. The price hovered above its moving averages in the 4 hours chart. The 50 and the 100-EMAs headed upwards while the 200-EMA was neutral in the same chart. The resistance is highlighted at 0.7300, the support comes in at 0.7250.

MACD decreased which indicates the buyers’ positions weakening. The RSI was within the overvalued readings close to the neutral area.

Trading recommendations

We prefer to stay bullish for now. Our short-term objective for the NZD/USD is 0.7311.



XAU/USD

General overview

Gold remained under pressure on Friday. The metal reached the lowest level since Jan. 11 and stopped. The US treasury bond yields growth boosted the US Dollar's recovery weighing on the dollar-denominated commodities - like gold.

Current situation

The U.S. currency maintained control of the flows. The bearish momentum was strong enough to push the price lower in the night session. The precious metal started its slide at 1188 dollars per ounce at the Asian open and reached 1180 in the early European trades. Gold remained well offered, however, sellers failed to push the price below the handle. The precious metal bounced from the level and remained in its region afterwards. According to the 4 hours chart the price continued developing well below the 50 and the 100-EMAs. The 100-EMA remained bullish, while the 50 and 200-EMAs were flat in the mentioned timeframe. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

The MACD histogram decreased which indicates the sellers’ strength. RSI consolidated within oversold readings.

Trading recommendations

Technically the yellow metal is heavily oversold. We do not rule out a correction on profit taking. We hold the view that gold prices will struggle to climb north to the 1190-1195 region. The next probable bullish target is 1200 dollars per ounce.



Brent

General overview

Oil prices touched 2 week peaks, however, failed to retake the level. The further Brent advance was capped by the growing concerns over rising US production.

Current situation

After a jump on Thursday Brent oil prices were on neutral-to-bearish stance in the night. Traders found a solid resistance at 56.50 dollars per barrel and spent the Asian session just below the level. A fresh selling interest emerged in the late European trades. Sellers drove the price to 55.50 ahead of the NY session opening. The price tested its moving averages in the 4 hours chart. The spot remained above the 50, 100 and 200-EMAs during the day. The moving averages remained mixed and flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI left the overvalued readings and headed south.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the levels at 55.50 and 54.50 dollars per barrel.



DAX

General overview

European stocks edged lower amid weak corporate earnings.

Current situation

After posting fresh weekly peaks at 11900 the index rolled back and returned to 11800. We guess DAX fell on profit taking on Thursday as the overall picture remained bullish. After touching the level the price remained around it the second part of the day. The benchmark continued developing well above its moving averages in the 4 hours chart. The moving averages kept heading higher in the mentioned timeframe. The resistance exists at 11900, the support stands at 11800.

MACD remained at the same level which confirms the strength of buyers. The RSI indicator consolidated within overvalued readings.

Trading recommendations

We believe that a downmove will start as soon, as the index drops below the support level 11800. DAX may extend its decline to the 11700 region.



NASDAQ

General overview

Wall Street traded flat ahead of U.S GDP data. Moreover, investors took a pause after Dow's recent rally.

Current situation

NASDAQ gave up its fresh all times highs and rolled back in the Asian session on Friday. The benchmark reached 5140 where the price found fresh bids and rose to 5155. However, a buying impetus lost its legs soon, the benchmark turned around and attacked 5140. The price hovered above its moving averages in the 4 hours chart. The 50, 100 and 200-EMAs kept heading higher in the same chart.
The resistance is at 5180, the support comes in at 5140.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator remained within overbought levels.

Trading recommendations

We favor a short-term bearish bias based on profit-taking. A break below 5140 will suggest further weakness towards 5100.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

31.01.2017

Euro

General overview

The euro ignored positive GDP in Spain and softened on Monday. Markets eye the upcoming ECB meeting and Consumer Price Index which is expected in green.

Current situation

The EUR/USD gapped higher at the daily open on Monday. The price jumped from 1.0700 to 1.0740 in the early Asian trades. The dollar's negative tone however, reversed mid Asian session. Bulls failed to extend their gains and stepped back giving the way to sellers. Bears seized control and pushed the spot back to 1.0700 where the spot traded almost unchanged in the mid-European session. A fresh selling interest emerged before NY opening. The EUR/USD pair made a good break lower and reached 1.0650. The price broke the 50-EMA downwards and tested the 100-EMA in the 4 hours chart in the mid-European trades. The 50 and the 100-EMAs kept heading higher while the 200-EMA remained flat in the mentioned timeframe. The resistance is at 1.0700, the .support comes in at 1.0650.

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

Trading recommendations

The 1.0750 resistance needs to be retested before the EUR/USD pair might rally towards 1.8000. However, the spot has all chances to turn bearish now. Should the price fixate below 1.0650 the way towards 1.0550 will be opened.



Pound

General overview

There was not much to watch on the UK calendar on Monday. All eyes are on the Bank of England on Wednesday.

Current situation

The GBP/USD gapped higher at the start of the new week. The spot jumped up to 1.2600 where the price met a strong barrier. The major bounced off the hurdle, dropped back towards the opening price сlosing the bullish opening gap. The spot pressured the 1.2500 level in the European session, but failed to retake the handle. The pound hovered above its moving averages in the 4 hours chart. The 100-EMA crossed the 200-EMA upwards. The 50 and the 100-EMAs headed north while the 200-EMA was neutral-bearish in the mentioned timeframe. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator left the overvalued readings and headed south.

Trading recommendations

The technical picture favors the downside. Should the 1.2500 level break down it will determine further direction of the GBPUSD pair towards 1.2400.



Yen

General overview

The US treasury bonds growth helped the US dollar to reverse some losses. Besides, weak Retail Trades in Japan weakened the national currency.

Current situation

A strong two day rally was capped above 115.00. The US dollar gapped lower vs. its Japanese peer at open on Monday. The greenback jumped from 115.00 to 114.85 and extended its losses afterwards. After finding fresh bids around 114.23 the price turned around and rallied back to the opening price. The spot approached 115.00 in the early European trades but retreated immediately after the level test. The USD/JPY pair stayed a few pips below the level ahead of the NY opening. The price tested the 100-EMA in the 4 hours chart. The spot remained around the 100-EMA after testing the moving. The 100 and the 200-EMAs were flat while the 50 pointed higher in the same chart. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD traded to the upside. The RSI was within the overvalued readings close to the neutral territory.

Trading recommendations

Bullish near-term studies support further upside sentiment. A firm break above 115.00 handle would open 116.00.



USD/CAD

General overview

Investors’ attention now turns to GDP which will be published on Wednesday. Meanwhile oil prices decline weighed on the commodity-linked currency – Lonnie. Moreover, Quebec mosque terrorist attack on Sunday weighed a bit on the Canadian Dollar.

Current situation

The greenback extended its near-term bullish momentum on Monday. After a brief consolidation during the Asian hours the US dollar moved upwards. The pair accelerated its growth in early Europe trades heading towards 1.3190. However, the upside momentum was halted at 1.3158 where the major remained ahead of NA opening. According to the 4 hours chart the spot stayed below its moving averages. The 50-EMA crossed the 100-EMA upwards. The 50 and the 200-EMAs were neutral while the 100-EMA headed downwards in the same chart. The resistance is highlighted at 1.3190, the support comes in at 1.3120.

MACD grew which indicates the sellers’ positions weakening. The RSI was within the neutral area.

Trading recommendations

All eyes are right now at the support level 1.3120. A cut through here will turn attention to the 1.3090 mark. En route to 1.3050.



XAU/USD

General overview

Precious metal is in demand in the light of Trump’s moves. The US President banned travelers from seven Muslim countries from entering the USA.

Current situation

Friday’s recovery stalled at 1195 dollars per ounce. After reaching the mark the precious metal reversed its direction and moved lower. Gold prices touched the level 1190 at the start of European trades and stayed around the level ahead of the North American session open. The price bounced off the 100-EMA and stayed below the 50 and the 100-EMAs in the 4 hours chart. The 100-EMA and the 200-EMA were neutral while the 50-EMA pointed lower in the mentioned timeframe. The resistance exists at 1190, the support stands at 1180 dollars per ounce.

MACD grew which indicates the sellers’ positions weakening. RSI left the neutral territory and moved south.

Trading recommendations

A move below 1190 would indicate that immediate upward pressure eased. The next level to focus on is 1180 dollars per ounce.



Brent

General overview

Rising US production continued weighing on oil prices. Besides, a growing number of the US rigs added some downbeat tone in the commodity.

Current situation

Oil prices remained in its familiar range on Monday. The price stayed range bound to higher between 55.50 and 55.15 during the day. The 4 hours chart showed that the price broke its moving averages upwards. The 50 and the 100-EMAs crossed the 200-EMA downwards. The 50 and the 100-EMAs were bearish while the 200-EMA remained neutral in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI stayed within the oversold readings close to the neutral territory.

Trading recommendations

Short term bias indicates selling interest. We expect a firm break below 55.50 handle which could trigger fresh weakness for attack at 54.50 dollars per barrel.



DAX

General overview

World stocks decline dragged European stocks lower. Market participants are concerned about D.Trump's moves as the US President.

Current situation

The index gapped lower at the weekly open. The price gapped through 11800 and maintained its bearish tone afterwards. The bears tightened grip and sent the rate back towards 11700 handle in the early European trades. The spot hovered above its moving averages in the 4 hours chart. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 11800, the support stands at 11700.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator left the overvalued readings favoring a new move lower.

Trading recommendations

The immediate risk is still clearly on the downside but we prefer to wait for a daily closing below 11700 before turning bearish. Our first profit target will be 11600.



S&P500

General overview

US stocks traded lower on Monday following the uncertainty after the recent Trump’s moves over the external policy. Traders are concerned that the future Trump’s policy may impact both the US and the World economies.

Current situation

S&P500 gapped lower at the open. The price jumped to 2280 which appeared to be a solid barrier. After touching the level the benchmark had to retreat and rolled back to 2285 almost filling the night gap. According to the 4 hours chart the benchmark continued developing well above its moving averages. The moving averages maintained their bullish slope in the same chart. The resistance is at 2300, the support comes in at 2280.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator was within the neutral area.

Trading recommendations

The price eyes strong support at 2280 handle loss of which would trigger further weakness towards 2270 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.

01.02.2017

Euro

General overview

The euro received support from Unemployment Change in Germany. The Unemployment Rate in the Euroland showed upbeat results as well. The euro extended its gains following the positive Q4 GDP. Moreover, the US dollar weakened after Trump’s top trade adviser accused Germany of currency exploitation.

Current situation

The Asian recovery halted at 1.0720. The euro returned to 1.0700 afterwards where the spot stayed during the European hours. The overall sentiment was neutral amid lack of any market movers in the European session. A fresh buying interest emerged ahead of the NY opening. The price jumped to 1.0750 and immediately broke the hurdle. The price bounced off the 50-EMA in the 4 hours chart. The 50 and the 100-EMAs headed higher while the 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0800, the support comes in at 1.0750.

MACD indicator remained 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 upwards.

Trading recommendations

We expect to see renewed bearish pressure if the pair failed to retake 1.0750. A breakout below 1.0700 might force the EURUSD pair to resume its downward trajectory towards 1.0650.



Pound

General overview

The UK data calendar was light on Tuesday. All eyes are on the Bank of England and its upcoming meeting. The BoE is to publish Manufacturing PMI while the Fed will announce its interest rate decision on Wednesday. The Bank is likely to keep the rate unchanged.

Current situation

The pound came under further selling pressure in the early trades on Tuesday. The pair failed to sustain the Asian recovery and sharply fell during the morning hours. The sterling broke 1.2500 and tested fresh lows around 1.2400 in the mid-European session. The l.2400 level rejected the price after London's opening. The price moved upwards and reversed all its daily losses. The spot broke the 50-EMA upwards in the 4 hours chart. The 100-EMA crossed the 200-EMA upwards. The 50 and the 100-EMAs kept heading higher while the 200-EMA pointed lower in the mentioned timeframe. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI indicator left the neutral area and moved downwards.

Trading recommendations

Last price action put on hold bears’ plans. Buyers have a chance to neutralize the downward pressure if they fixate above 1.2500.



Yen

General overview

The BoJ decision to leave the rate unchanged supported the yen on Tuesday. Moreover, a risk-off sentiment made the yen more attractive. Besides, the US dollar was under pressure after Trump’s decision to restrict immigration from 7 countries and his top adviser accusations towards Germany.

Current situation

The USD/JPY pair reversed early losses on Tuesday. The spot caught fresh bids around 113.50 amid some fresh US dollar buying interest during European morning trades. Traders pushed the US dollar higher reclaiming the 114.00 hurdle ahead of the NY opening. The spot found fresh offers around 114.00. The pair turned negative and eased towards the daily low at 113.00. The price bounced off the 50-EMA in the 4 hours chart. The 50 and the 100-EMAs pointed lower while the 200-EMA was bearish-neutral. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

If bulls retain control over the market, we cannot rule out the chance that the USD/JPY pair would try to get to the level 115.00 after breaking 114.00. A break below 113.00 will show room for further downside towards 112.50.



AUD/USD

General overview

Private Sector Credit improved in Australia supporting the national currency. Meanwhile, investors are in wait-and-see mode ahead of Fed's meeting.

Current situation

The AUD/USD pair remained directionless staying around 0.7550 during the morning trades on Tuesday. A fresh bout of buying interest pushed the price higher ahead of the NY opening. The 50 and the 100-EMAs kept pointing higher while the 200-EMA was flat in the 4 hours chart. The resistance is highlighted at 0.7600, the support comes in at 0.7550.

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

Trading recommendations

No clear direction could be expected while the price holds within the current range 0.7540 - 0.7570. However, we expect a positive bias in the coming session. We recommend placing buy orders only if the spot fixates above 0.7570. The next bullish target is 0.7600.



XAU/USD

General overview

Gold prices turned bullish on Tuesday when risk-off sentiment returned. The uncertainty around the new US administration kept weighing on the US dollar. There has not been a single day without a surprise Trump's announcement that affected the financial world since Trump took over the office.

Current situation

The risky mode faded away from the market as the positive statement strengthened. Fresh bids around 1200 dollars per ounce pushed the price away from the handle. Gold spot accelerated its growth rallying towards 1210 ahead of the NY opening. Gold prices maintained its recovery rally in the early US session. The resistance exists at 1210, the support stands at 1200 dollars per ounce.

The 4 hours chart showed that the price broke the 50 and 100 EMAs upwards. The 50-EMA acts as a support right now. The 100-EMA pointed higher while the 50 and the 200-EMAs were neutral in the mentioned timeframe.

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

Trading recommendations

The price maintained its bullish tone in the 4 hours chart. If the pair fixates above 1205, the precious metal may continue its upmove in the short term. The potential buyers’ targets are 1210 and 1215 dollars per ounce.



Brent

General overview

Oil prices edged lower in the early trades on Tuesday amid the US drilling activity growth. However, Brent turned positive and erased overnight losses when focus shifted to U.S. stockpile data.

Current situation

Oil futures extended their neutral mode in the early trades on Tuesday. The benchmark traded range-bound-to lower during the European hours. An upward impetus pushed the price upwards ahead of the NY opening. The price tried to reclaim 55.50 in the early NY trades. Brent continued developing below its moving averages in the 4 hours chart. The 50 and the 200-EMAs were neutral while the 100-EMA headed south in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

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

Trading recommendations

The bullish scenario prevailed on Tuesday. To trigger additional upward momentum towards 56.50 the price needs to break the level 55.50 dollars per barrel.



DAX

General overview

European stocks edged lower on Tuesday. Investors kept digesting key data for the Euroland and earnings reports. Energy and financial stocks were higher yesterday.

Current situation

DAX index remained under pressure on Tuesday. The benchmark was struggling with 11700 during the day. According to the 1 hour chart the benchmark broke the 50-EMA downwards and tested the 100-EMA. The price continued developing well above the 100 and the 200-EMAs.The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 11700, the support stands at 11600.

MACD decreased which indicates the buyers’ positions weakening. The RSI stayed within the neutral territory.

Trading recommendations

We prefer to stay bearish for now. The benchmark might extend its losses if it fixates below 11700. DAX is likely to test 11600 in this case.



NASDAQ

General overview

Wall Street futures opened in red on Tuesday. Dow sectors declined disappointing investors. Moreover, the fresh Trump's administration moves weighed on the stocks.

Current situation

The technical picture presented a slightly bearish tone. The price found support at 5100 and stayed around the level during the day. The resistance is at 5140, the support comes in at 5100.

The 4 hours chart showed that the benchmark tested the 50-EMA and stayed around it afterwards. The moving averages kept pointing higher in the same chart.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator left the neutral area and entered the oversold readings.

Trading recommendations

The overall outlook remains bearish, for decline towards 5060 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.

02.02.2017

Euro

General overview

The US dollar is under pressure after Trump’s trade advisor remarks where he accused Germany, China and Japan in taking advantages from devaluated currencies. In addition, the euro received some support from upbeat inflation figures in the euro land. Investors’ attention now turns to the Fed meeting.

Current situation

The EUR/USD upward structure remained intact on Wednesday. The euro remained rather unchanged against the dollar after Tuesday's rally in the early trades. Buyers consolidated their gains holding the spot flat below 1.0800. A fresh selling interest emerged ahead of the NY opening. The pair pushed away from 1.0800 and dropped lower heading towards 1.0750. The price broke the 50-EMA upwards in the 4 hours chart. The spot hovered above its moving averages during the day. The 50 and the 100-EMAs remained bullish while the 200-EMA was flat in the mentioned timeframe. The resistance is at 1.0800, the support comes in at 1.0750.

The MACD histogram grew which indicates buyers’ strength. RSI left the neutral territory and stayed within the overvalued readings.

Trading recommendations

Bulls maintained control over the market. We will buy if the EUR/USD does a breakout at the resistance level of 1.8000. A close above the hurdle will trigger gains towards 1.0850. Yellen’s hawkish comments may return sellers to the market. In this scenario we expect a drop below 1.0750. En route to 1.0700.



Pound

General overview

UK’s Manufacturing PMI matched expectations supporting the national currency.

Current situation

The pound erased all its Monday’s losses on Wednesday. The trend is clearly bullish now. Buyers met a barrier at 1.2600 and had to retreat in the Asian session. The cable kept struggling for direction near 1.2600 before London's opening. Buyers managed to break the hurdle in the mid-European session and extended their bullishness afterwards. The GBPUSD pair continued developing well above the moving averages in the 4 hours chart. The 100-EMA crossed the 200-EMA upwards. The 50 and the 100-EMAs maintained their bullish slope while the 200-EMA remained bearish-neutral in the mentioned timeframe. The resistance lies at 1.2700, the support comes in at 1.2600.

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

Trading recommendations

Risks for a deeper correction lower in the US currency keep growing. The GBPUSD pair now seems to be heading towards its immediate resistance near 1.2700. A break above the level risks a growth towards the mark at 1.2770.



Yen

Current situation

The USD/JPY pair remained under pressure on Wednesday. The US dollar again lost ground versus the yen on Tuesday. The overnight recovery stalled at 113.60 where the price stayed before European session opening. A fresh selling pressure weighed on the spot pushing it towards 113.00 in the mid-European session. However, bulls are not ready to give up their positions above the 113.00 handle. According to the 4 hours chart the price stayed below the 50, 100 and 200-EMAs. The moving averages headed south in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was within the oversold territory favoring a new move higher.

Trading recommendations

The daily technical studies remained in strong bearish setup maintaining risks for fresh attempts lower. We would be selling the USD/JPY pair only if the spot drops below 113.00. The 112.00 handle seems the next probable sellers’ target.



NZD/USD

General overview

BNZ published mixed data on Wednesday. Unemployment Rate showed downbeat results. Employment Change came in line with expectations while Participation Rate grew.

Current situation

The market remained in bulls' hands on Wednesday. The kiwi extended its reversal from Tuesday's low at 0.7250 and had reversed a minor part of its gains by the mid-European session. The spot almost reached 0.7300 when the buying pressure eased. A fresh bout of selling interest emerged in the early NY trades. Sellers seized control pushing the spot to 0.7250. The price bounced off the 100-EMA in the 1 hour chart. The spot stayed between the 100 and the 50-EMAs afterwards. The moving averages remained bullish in the same chart. The resistance is highlighted at 0.7300, the support comes in at 0.7250.

MACD traded to the upside. The RSI was within the neutral area.

Trading recommendations

A bullish tone prevails in the 4 hours chart. A break above 0.7300 suggests further growth towards 0.7350. Sellers need to break below 0.7250 to ease the current upward pressure.



XAU/USD

Current situation

Gold moved lower on Wednesday retreating from its recent highs. The price touched the support 1210 in the late Asian trades and stayed around the level afterwards. A downward impetus emerged ahead of the NY opening. Gold spot sharply dropped heading towards 1200. The 4 hours chart showed that the price broke the 100 and the 50-EMAs upwards. The pair continued developing well above its moving averages. The moving averages kept pointing higher in the mentioned timeframe. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI consolidated within the overvalued readings.

Trading recommendations

The bullish scenario prevailed on Wednesday. Once we break above 1210, we think that the 1220 level will be next. Inability to revive buying momentum may turn the market to the downside. The precious metal may fall to 1200 to gather some steam for more upside action.



Brent

General overview

Oil prices moved upwards within its familiar range as investors awaited U.S. supply data.

Current situation

Brent remained in a phase of bearish consolidation on Wednesday. The price was trading around 55.50 in the early trades and regained the level later in the day. The benchmark pushed away from the handle and headed upwards ahead of the NY opening. The black gold moved away from its moving averages in the 4 hours chart. The 50, 100 and 200 EMAs were mixed. The 50-EMA crossed the 100-EMA upwards. The 100 and the 200-EMAs were flat while the 50-EMA pointed higher in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

We believe that a break below 55.50 level would generate negative signal and risk further easing towards the 54.50 mark. Conversely, a climb above 56.50 is needed to indicate that Brent has completed another correction.



DAX

General overview

European stocks were positive on Wednesday following financial and industrial sectors gains and healthy corporate earnings reports.

Current situation

The index gapped higher at the open and extended its gains afterwards. The benchmark was neutral in the European hours. A fresh buying pressure emerged ahead of the NY opening pushing DAX to 11700. The benchmark bounced from the 100-EMA upwards and broke the 50-EMA in the 4 hours chart. The moving averages kept pointing higher in the mentioned timeframe. The resistance exists at 11700, the support stands at 11600.

MACD turned bullish and left negative territory. The RSI bounced from the oversold territory and headed upwards.

Trading recommendations

DAX is still bullish despite its recent sell-off. A move above 11700 will return bullishness to the market. A clear break above the hurdle risks further growth towards 11800. A failure here will reinforce selling pressure sending the market below the 11500 handle.



S&P500

General overview

U.S. stocks had an upbeat start on Wednesday amid strong earnings reports. The leader of growth was Apple with his shares up to 3.01% in premarket. Earnings of S&P 500 companies added fresh gains as well. Investors focused on Federal Reserve's decision on interest rates.

Current situation

S&P500 was in buy mode on Wednesday. Traders pushed the index higher in the early trades. Bulls met a barrier at 2280 which halted their buying attempts. A fresh buying interest emerged ahead of the NY opening. The benchmark made a good break above 2280 and maintained its buying bias afterwards. The 4 hours chart showed that the index bounced off the 200-EMA and broke the 100 and the 50-EMAs upwards. The price stayed above its moving averages which were bullish-neutral in the mentioned timeframe. The resistance is at 2280, the support comes in at 2260.

MACD traded to the upside. RSI oscillator left the oversold territory and entered the neutral area.

Trading recommendations

The bullish momentum is likely to be regained. We await a break above 2280 level to trigger another leg higher towards the 2290 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.

03.02.2017

Euro

General overview

Decline of Unemployment Change in Spain provided a light support for the euro. The euro also took advantage of the US dollar retracement. Investors kept a close eye on Draghi's speech on Thursday.

Current situation

The single European currency opened green against the dollar and extended its bullishness afterwards. Traders pushed the price towards 1.0800 in the Asian session and broke the level post-European open. The price bounced off the 50-EMA in the 4 hours chart. The pair continued developing well above its moving averages afterwards. The 50, 100 and 200-EMAs pointed higher in the mentioned timeframe. The resistance is at 1.0850, the support comes in at 1.0800.

The MACD indicator is bullish and is still in positive territory. RSI consolidated within the overvalued readings and moved higher.

Trading recommendations

In a wider perspective the euro could gain bullish momentum if its stays above the resistance at 1.0800. In this scenario the pair EURUSD may extend its growth to 1.8050. Sellers need to break below 1.0700 to ease the upward pressure and the level 1.0600 to seize control.



Pound

General overview

The BoE kept its rate unchanged at 0.25% on Thursday. The regulators' decision softened the pound. Besides, PMI Construction downbeat data provided additional pressure.

Current situation

The US dollar broad's weakness helped the cable reach fresh multi-month highs on Wednesday. The GBP/USD pair kept growing overnight and met a barrier at 1.2700. The pound kept flirting with the hurdle the first part of the day. However, investors did not find any reason to lift the cable higher. The major sharply dropped towards 1.2600 ahead of the NY opening. The 4 hours chart showed that the GBPUSD pair stayed above its moving averages. The 50 and the 100-EMAs headed north while the 200-EMA was flat in the mentioned timeframe. The resistance lies at 1.2600, the support comes in at 1.2500.

The MACD histogram grew which indicates buyers’ strength. RSI remained within the overvalued readings.

Trading recommendations

Technical readings in the 4 hours chart favor an upward extension. We expect the GBPUSD pair to retain bullishness for further gain to 1.2800 after breaking the 1.2700 level. Inability to post fresh gains may cause the sterling to undergo a small bearish correction towards 1.2600 and 1.2500.



Yen

Current situation

The USD/JPY remained under pressure due to the ask sentiment around the dollar. Sellers pushed the spot lower in the Asian session and broke the level 113.00. The pair extended its losses afterwards and reached 112.00 post-European open. The price bounced off the 50-EMA in the 4 hours chart. The spot stayed below its moving averages afterwards. The moving averages maintained their bearish slope in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD decreased which confirms the strength of sellers. RSI was within the oversold territory favoring a new move lower.

Trading recommendations

The outlook will be bearish as long as the price holds below the level 113.00. If the spot fixates below 112.50 a further weakness towards the 112.00 handle is not ruled out. The level 115.00 needs to be regained in order to alleviate downside pressure.



USD/CAD

Current situation

The pair remained in red figures on Thursday. The sellers managed to lead the spot lower in the night. The USD/CAD pair pushed away from 1.3050 and headed towards the immediate handle at 1.2980 where the US dollar found a solid support. After touching the level the pair bounced off and slightly grew. According to the 4 hours chart the price stayed below the moving averages. The 50-EMA crossed the 100-EMA downwards. The moving averages remained bearish in the same chart. The resistance is highlighted at 1.3050, the support comes in at 1.2980.

The MACD histogram decreased which indicates the sellers’ strength. The RSI left the neutral area and stayed within the oversold readings.

Trading recommendations

The bearish trend remained intact. If the 1.2980 support breaks, the price may fall further that should send this market looking for the 1.2910 level.



XAU/USD

General overview

Dovish Fed's remarks coupled with ongoing worries over Trump's policies kept on weighing on the US dollar. BoE's rate decision triggered some volatility in markets maintaining risk-off sentiment among traders. Focus now shifts towards the US Non-Farms payrolls.

Current situation

Gold was stronger on Thursday, trading near local highs against the dollar. Gold spot extended its bullishness in the early trades and reached the mark 1215 dollars per ounce where buying momentum faded for a while. The precious metal extended its gains and broke the 1220 resistance in the late European trades. The metal remained above its moving averages in the 4 hours chart. The 100 and the 200-EMAs headed upwards while the 50-EMA was flat. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI stayed within the overvalued readings.

Trading recommendations

We believe bulls will remain in driver’s seat. A daily close above 1220 will risk the gold price to extend the recovery pace towards 1230 dollars per ounce.



Brent

General overview

News that OPEC and non-OPEC members stick to output cut deal supported oil outweighing a sharp rise in U.S. crude stockpiles.

Current situation

Market turned positive on Thursday. Brent left its sideways channel and moved towards 57.00 in the European morning trades. The benchmark continued its growth during the European hours and tested the level later the day. The price was developing well above its moving averages in the 4 hours chart. The 50-EMA crossed the 200-EMA upwards. The 100 and the 200-EMAs were flat while the 50-EMA pointed higher in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

The histogram grew which is a buy signal. The RSI stayed within the overvalued area favoring a new move higher.

Trading recommendations

The bullish scenario prevailed on Thursday. Bulls need to retake 57.50 to retain bullishness for further gains towards 58.50 dollars per barrel.



DAX

General overview

European shares traded mixed following the Fed's decision to hold its rate unchanged. Mining and energy stocks added gains while financial stocks were mostly lower.

Current situation

Sellers continued to dominate and DAX continued to lose its value. The index gapped lower at the open and tested 11600. Sellers failed to reclaim the handle and had to retreat. Buyers had reversed all their morning losses by the NY opening. The 4 hours chart showed that the index broke 50-EMA downwards and tested the 100-EMA. The moving averages remained bullish in the mentioned timeframe. The resistance exists at 11700, the support stands at 11600.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI left the neutral area and headed south.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. A down move will start as soon, as the index drops below the support level 11600. DAX might extend its downwards trajectory to 11500 level. A move above 11700 would indicate that our bearish expectations are wrong.



NASDAQ

Current situation

The upward structure remained in place on Thursday. The price moved towards the lower limit of the upward channel in the early trades. However, the upward trend line halted its further decline. The benchmark posted a daily low at 5120 and bounced off it. The benchmark bounced off the 50-EMA in the 4 hours chart. The index stayed above its moving averages which were all pointed higher. The resistance is at 5140, the support comes in at 5100.

MACD indicator was 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 oscillator was within the neutral area.

Trading recommendations

We prefer to stay bullish for now. A clear break above 5140 resistance will indicate buyers’ strength. The following upward movement could bring price to 5160 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.

06.02.2017

Euro

General overview

The US dollar remained better bid on Friday and overwhelmed the Eurozone mixed data. Composite PMI and Composite PMI from Markit came out better-than-expected while Retail Sales report came in red.

Current situation

The overall bullish picture remained intact on Friday. The euro was in green, but kept losing ground in the early trades. Traders pushed the spot to the lower limit of the upward channel at 1.0750. Sellers were struggling hard to break the upward trend line in the European session and managed to partly break it ahead of the NY opening. The price tested the 50-EMA in the 4 hours chart during the European hours. All the moving averages kept pointing higher in the mentioned timeframe. The resistance is at 1.0750, the support comes in at 1.0700.

MACD decreased which indicates the buyers’ positions weakening. RSI left the overvalued readings and moved south.

Trading recommendations

We favor a short-term bearish bias. Below 1.0750, EURUSD will likely target 1.0700 support.



Pound

General overview

The pound remained under pressure amid a weak Services PMI and a stronger US dollar.

Current situation

The pound sharply dropped on Thursday. After reaching a strong support at 1.2500 traders took a pause awaiting for fresh drivers in the Asian session. A bout of fresh selling interest pushed the spot lower post London’s open. The pound broke the 1.2500 level and advanced towards 1.2450 in the American session. The GBPUSD pair broke the 50-EMA downwards in the 4 hours chart. The spot stayed above the 100 and the 200-EMAs in the European session. The 100-EMA headed higher while the 50 and the 200-EMAs were flat. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI stayed within the oversold readings close to the neutral territory.

Trading recommendations

We expect a clear break below 1.2500 which would indicate that the bearish phase has resumed. As the most probable scenario, we consider further moving downwards towards the level at 1.2400.



Yen

General overview

The US dollar maintained its upbeat tone vs. the yen on expectations of a strong U.S. payrolls report following strong ADP employment data and a solid Initial Jobless Claims report.

Current situation

Technically, the bearish trend remained intact, although the USD/JPY pair continued its recovery on Friday. The price remained in a downward channel trading around its upper limit at 113.00. Traders tested the level 113.00 in the early trades and continued flirting with the hurdle during the European hours. The 4 hours chart showed that the price continued developing well below its moving averages. The 50, 100 and the 200-EMAs kept heading lower in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD grew which indicates the sellers’ positions weakening. RSI left the oversold territory and headed upwards.

Trading recommendations

Our next short-term objective for the USD/JPY is 113.50, after which we see the pair extending its rise towards the 114.00 level.



AUD/USD

General overview

Poor Chinese PMI weighed on commodities decreasing demand for commodity-linked currencies, like the Australian Dollar. Moreover, the recovery in the US treasury bond yields supported the US dollar on Friday.

Current situation

The AUD/USD pair traded with mid bearish bias on Friday. Technically, the AUD/USD pair approached multi-month highs. Buyers met a barrier at 0.7700 and failed to retake it. As a result bulls gave up their gains and retreated to 0.7650. The handle halted sellers’ advance holding the price in its region during the European hours. The price spiked in the NY session erasing its daily losses. The AUDUSD pair hovered above its moving averages which were all bullish in the 4 hours timeframe. The resistance is highlighted at 0.7700, the support comes in at 0.7650.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator consolidated within the overvalued readings.

Trading recommendations

AUD/USD needs to regain at least the 0.7700 zone to ease the immediate bearish pressure. Conversely, a downtrend will start as soon, as the pair drops below the support level 0.7650. After a close below the handle we could see the pair extending its declines down to 0.7550.



XAU/USD

General overview

Gold prices retreated further on Friday amid modest US dollar recovery. The US dollar strengthened ahead of official jobs report weighing on dollar-denominated commodities - like gold.

Current situation

The upmove lacked momentum after posting a weekly high at 1220 dollars per ounce. The price retreated below the level where fresh offers pushed the rate lower. The precious metal eased more overnight and had approached 1210 by the European session opening. Sellers met a barrier here and took a breath gathering steam for a fresh leg lower. According to the 4 hours chart the gold metal price stayed above its moving averages. The 50-EMA crossed the 100-EMA downwards. The 100 and the 200-EMAs headed north while the 50-EMA was bearish-neutral. The resistance exists at 1220, the support stands at 1210 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI stayed within the overvalued readings close to the neutral area.

Trading recommendations

A move below 1210 will signal the presence of sellers. A move lower might suggest further weakness of the gold metal price towards the 1200 level.



Brent

General overview

Talks of US sanctions on Iran limited oil prices recovery on Friday.

Current situation

Brent oil prices turned lower on Friday. Buyers failed to break through 57.50 and dropped to the 56.50 dollars per barrel handle which halted its further advance. Bearish views seem to be getting more popular. Sellers kept trying to push the price lower in the NY session. The oil price remained above its moving averages in the 4 hours chart. The 50-EMA crossed the 200-EMA upwards. The 50, 100 and the 200-EMAs were bullish-neutral in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

The MACD indicator is bullish and is still in positive territory. The RSI consolidated within the overvalued area.

Trading recommendations

Brent price is having difficulties to go any higher. We recommend going short with the first target – 56.50. When the price consolidates below the first target it may go to the level 55.50 dollars per barrel.



DAX

General overview

European stocks opened higher expecting strong releases from Eurozone. However, the published mixed data limited stocks growth. In general, financial stocks were mixed while mining stocks were sharply lower on Friday.

Current situation

The index remained under pressure on Friday. DAX traded in a fresh sideways channel between 11700 and 11600 during the day. Any buyers’ attempts to reverse losses failed and the price always returned to a downside. According to the 4 hours chart the benchmark stayed between the 50 and the 100-EMAs. The moving averages kept pointing higher in the mentioned timeframe. The resistance exists at 11700, the support stands at 11600.

MACD traded to the downside. The RSI left the oversold readings and entered the neutral area.

Trading recommendations

In the 4 hours chart, the technical picture favors a downward extension. We suppose the index will go to 11600 first. Having overcome the first target the price might advance towards 11550.



S&P500

General overview

US futures edged higher in American session ahead of official job data, hoping to get fresh timing Fed's rate hike.
Current situation

S&P500 was in buy mode on Friday. A fresh buying interest emerged in the night and pushed the benchmark to 2280. The level slowed down bulls' advance holding the price in its region during the European session. S&P500 reclaimed the level in the NA session. The index bounced off the 200-EMA and broke the 50 and 100 EMAs upwards in the 4 hours chart. The 100 and the 200-EMAs were neutral while the 50-EMA moved higher. The resistance is at 2300, the support comes in at 2280.

MACD grew which indicates the sellers’ positions weakening. RSI oscillator was within the neutral area.

Trading recommendations

We believe that the uptrend will start as soon, as the index rises above the resistance level 2280. The next portable bullish target is 2300.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

07.02.2017

Euro

General overview

The dollar kept weighing on the euro on Monday. The pair weakened amid the US dollar recovery after the recent sell-off. Moreover, the single European currency ignored positive Factory Orders in Germany.

Current situation

The euro turned negative after the opening on Monday. A failure to break above 1.0800 caused some profit-taking making the spot move lower. The price bounced off the 1.0800 hurdle and dropped to 1.0750 in the mid-European session. Sellers extended their gains in the NA session. The EURUSD pair tested the 50-EMA in the 4 hours chart. The 50, 100 and the 200-EMAs were bullish in the mentioned timeframe. The resistance is at 1.0750, the support comes in at 1.0700.

MACD decreased which indicates the buyers’ positions weakening. RSI left the overvalued readings and headed south.

Trading recommendations

The technical picture presents a short-term bearish tone. Bears keep focus at 1.0700. After breaking the level the support 1.0650 might comes into play. A break below 1.0650 may change a market sentiment turning it negative. Nevertheless, we will maintain our positive outlook until we see a break below the mentioned handle.



Pound

General overview

The British pound kept losing ground on Monday after the BoE showed no rush to hike rates and Inflation Report last week.

Current situation

The pound traded mixed on Monday. The cable lost some ground in the early trades and moved lower. A fresh buying interest emerged in early Europe trades and supported the spot. The pair stabilized in the late European hours and remained a few pips below 1.2500 ahead of the North American session. The 4 hours chart showed that the price broke the 50-EMA downwards and stayed above the 100 and the 200-EMAs in the first part of the day. The 100-EMA headed north while the 50 and the 200-EMAs were neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI stayed within the oversold readings close to the neutral territory.

Trading recommendations

The bullish trend remained intact despite the recent decline. A close below 1.2500 will generate fresh bearish signal for a further advance, which could extend to 1.2400 barrier. Conversely, a close above 1.2500 will return bullishness to the pair. The spot may recover to 1.2600 in the short-term.



Yen

General overview

The US dollar extended its losses on Monday after unimpressive US jobs report on Friday.

Current situation

The USD/JPY remained in a near-term downward channel on Monday. The spot slightly recovered in the early Asian trades and reversed a minor part of its losses. However, the recovery stalled at 112.78 where the price slowed down and rolled back. A fresh selling pressure in the late European session pushed the spot lower. The price bounced off the 50-EMA in the 1 hour chart. The US dollar continued developing well below its moving averages during the day trades. The 50 and the 100-EMAs pointed lower while the 200-EMA was bearish-neutral in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD declined which indicates the sellers’ positions strengthening. RSI was within the oversold territory close to the neutral area.

Trading recommendations

The USD/JPY pair remains bearish for now. The 112.20 mark will need to be retested before a price can drop towards 112.00.



NZD/USD

Current situation

The pair remained in an upward channel on Monday. The New Zealand dollar traded around its recent highs hovering above 0.7300 during the day. According to the 4 hours chart the NZDUSD pair bounced off the 50-EMA and stayed above the moving averages. The 50, 100 and the 200-EMAs kept pointing higher in the mentioned timeframe. The resistance is highlighted at 0.7350, the support comes in at 0.7300.

The MACD indicator was bullish and remained in positive territory. The RSI indicator stayed within the overvalued readings.

Trading recommendations

The bullish scenario prevailed on Monday. The first bullish target is 0.7350. After breaking the 0.7350 level a further extension to 0.7400 is not ruled out.



XAU/USD

General overview

The yellow metal edged higher following a weaker-than-expected US wage growth numbers which diminished expectations for near-term Fed rate-hike action.

Current situation

Gold gained additional traction on Monday. Gold spot grew in the Asian session and reached the highest level since November later the day. The price continued developing well above its moving averages in the 4 hours chart. The 50 and the 100-EMAs were flat while the 200-EMA pointed higher in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI consolidated within the overvalued area.

Trading recommendations

Sustained break above 1230 region is seen as minimum requirement needed to confirm bullish resumption. In this scenario, buyers may lead prices towards 1235 in the upcoming sessions.



Brent

General overview

Oil priced edged higher. However, its growth was capped by rising US drilling activity and expectations of US imposing new sanctions on Iran.

Current situation

Brent remained in a familiar consolidation range 56.70 - 57.00 dollars per barrel on Monday. The price was fluctuating between gains and losses during the European session. Sellers took control in the NY session and dragged the price lower. The oil price broke the 50-EMA in the 1 hour chart. The benchmark stayed above its moving averages. 50, 100 and the 200-EMAs kept heading higher in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

MACD decreased which indicates the buyers’ positions weakening. The RSI consolidated within the overvalued area.

Trading recommendations

The oil price eyes strong support at 56.50 dollars per barrel. Its break will determine further bearish direction of the benchmark towards the 55.50 level.



DAX

Current situation

The technical picture presented a slightly bearish tone on Monday. Bears seized control and pushed the price lower. The benchmark pushed away from 11700 and broke 11600 ahead of the NY opening. Sellers touched 11500 in the American session. The benchmark remained between the 50 and the 100-EMAs in the 4 hours chart. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 11600, the support stands at 11500.

MACD traded to the downside. The RSI was within the neutral area.

Trading recommendations

Should the benchmark loss more ground and advance below the 11500 level, the decline can extend down to 11400.



NASDAQ

Current situation

The bullish structure remained unchanged. The price remained around its recent highs on Monday. The index stayed above 5140 showing little activity during the day. A bout of fresh selling pressure emerged ahead of the American open and moved NASDAQ lower. The index tested 5140 in the NY session. The index bounced off the 50-EMA in the 4 hours chart. The price stayed above its moving averages which kept pointing higher in the same chart. The resistance is at 5180, the support comes in at 5140.

The MACD indicator was bullish and stayed in a positive territory. RSI oscillator stayed within the overvalued readings and headed north.

Trading recommendations

The overall outlook remains bullish. We believe that the firm break above 5180 handle would open 5220 area. We will buy until we see a daily close below 5100.



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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

09.02.2017

Euro

General overview

The euro maintained its weakness after M. Draghi emphasized the regulator's readiness to increase the current asset purchase program in size or duration. The light calendar and USD dynamics will remain the main drivers in the markets in the near term.

Current situation

The selling pressure around the European currency remained unchanged on Wednesday. The Asian recovery stalled after touching 1.0700. The price found fresh offers around the hurdle and softened a bit in the late Asian session. The single European currency accelerated its decline in the European morning and tested 1.0650. The level limited sellers’ advance for a while. The price bounced off the 100-EMA downwards in the 4 hours chart. The 100 and the 200-EMAs were bullish, while the 50-EMA was neutral in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

The MACD histogram decreased which indicates the sellers’ strength. RSI was within the oversold readings and moved south.

Trading recommendations

The bearish trend remained intact. We would be selling the pair if the price fixates below 1.0650 level. The EURUSD pair may extend its bearish trajectory towards the 1.0600 handle.



Pound

General overview

The pound jumped to fresh weekly highs following K.Forbes' hawkish (BoE’s External MPC Member) comments who hinted that the regulator may raise rates in response to the weaker pound.

Current situation

The pound bullish spike faded and the price dropped back to 1.2500 in the night. Traders remained equally divided between bulls and bears during the morning hours. The Cable stayed in a tight range around the mentioned handle awaiting for fresh impetus to break higher from the ongoing bullish consolidative phase. The price bounced off the 200-EMA and broke the 100-EMA and tested the 50-EMA in the 4 hours chart. The spot failed to retake the 50-EMA and rolled back towards the 100-EMA. The 100-EMA pointed higher, the 50-EMA maintained its bearish slope while the 200-EMA remained neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD grew which indicates the sellers’ positions weakening. RSI left the oversold readings and entered the neutral area.

Trading recommendations

The GBP/USD pair was unable to climb over 1.2500. A move below the level would suggest a resumption of a downward trajectory towards the 1.2400 support.



Yen

General overview

A risk-on sentiment and a fresh demand for the US Treasury bond yields supported the US dollar afloat above recent lows. Besides, traders preferred to stay neutral ahead of this week's meeting between Japanese PM Shinzo Abe and Donald Trump.

Current situation

The downward structure remained intact on Wednesday. After the recent drop the US dollar managed to recover some ground but failed to advance far away from the 112.00 support region. Fresh bids emerged in an Asian session, prompting a minor-recovery towards 112.50 area. After reaching the 112.50 mark the recovery stalled, the spot remained above the level awaiting for fresh drivers. According to the 1 hour chart the price bounced off the 100-EMA and broke the 50-EMA downwards. All the moving averages kept pointing lower in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD grew which indicates the sellers’ positions weakening. RSI was within the oversold territory close to the neutral area.

Trading recommendations

The USDJPY pair is under bullish pressure. Any move above 112.50 would increase chances of testing the 113.00 mark.



AUD/USD

General overview

Buying interest around copper supported the Aussie and collaborated to the pair's recovery on Wednesday. In absence of strong drivers, AUD/USD remained at the mercy of broader market risk sentiment. The US Treasury bond yields demand underpinned the spot as well.

Current situation

The pair maintained its bullish tone on Wednesday. Having found support around 0.7600 the price partly reversed its early losses. The AUD remained in a tight range staying flat below 0.7650 amid consolidative price action during the European hours. The AUD tested the 50-EMA in the 4 hours chart. The pair stayed above its moving averages during the day. The 50, 100 and the 200-EMAs kept pointing higher in the mentioned timeframe. The resistance is highlighted at 0.7650, the support comes in at 0.7600.

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

Trading recommendations

The technical picture presents a bullish tone. All eyes are right now at the resistance level 0.7650
A cut through here will turn attention to the 0.7700 level.



XAU/USD

General overview

Political instability in the EU ahead of the French elections, and uncertainty over the US President political actions boosted the demand for the yellow metal. Moreover, fading expectations of Fed rate-hike action in the near-term weighed on US Treasury bond yields supporting the precious metal.

Current situation

Bulls maintained control over the market on Wednesday. Gold spot found fresh bids around 1230 and managed to erased all Tuesday's losses in the European session. The precious metal grew and refreshed three month highs at 1240 dollars per ounce. The gold price bounced from the 50-EMA in the 1 hour chart. The spot continued developing well above its moving averages during the day. All moving averages were bullish in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI consolidated within the overvalued area.

Trading recommendations

The bullish scenario prevailed on Wednesday. A break above 1240 hurdle risks a growth towards the resistance at 1250 dollars per ounce.



Brent

General overview

Brent oil prices remained under pressure following the bearish API crude inventory report.

Current situation

Brent futures stalled their Asian recovery mode and consolidated in a narrow range above 54.50 handle on Wednesday. The 4 hours chart showed that the oil price remained below its moving averages. The 200 and the 100-EMAs were flat while the 50-EMA pointed lower in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

The MACD histogram decreased which is a sell signal. The RSI was within the oversold area.

Trading recommendations

The market will probably maintain its recovery pace in the short-term. Once we break above 55.00, we think that the 55.50 mark will be next.



DAX

Current situation

Despite the positive opening the index remained under selling pressure on Wednesday. DAX partly recovered its losses overnight and reached the hurdle at 11600. A fresh selling interest emerged in the late European session pushing the benchmark lower. DAX index stayed between the 100 and the 200-EMAs in the 4 hours chart. The 50 and the 100-EMAs were flat while the 200-EMA kept pointing higher. The resistance exists at 11600, the support stands at 11500.

MACD remained at the same level which confirms the strength of sellers. The RSI was within the oversold area favoring a new move higher.

Trading recommendations

We prefer to stay bearish for now. A firm break below 11500 handle could trigger fresh weakness of the index for attack at 11450.



NASDAQ

General overview

Wall Street maintained its upbeat tone amid quarterly earnings.

Current situation

The bullish market structure remained in place on Wednesday. After posting fresh all-times high the index retreated a bit. Sellers pushed the benchmark below 5180. The current rebound should be considered corrective amid some profit taking price action. According to the 4 hours chart the price hovered above its moving averages. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance is at 5180, the support comes in at 5140.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed within the overvalued readings.

Trading recommendations

The overall outlook remained bullish. In the scenario where the buyers keep control the index will advance to 5220 and 5260 en route.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

10.02.2017

Euro

General overview

The US dollar trades against the euro in a narrow range as the political and economic future of the United States became more uncertain. Inventors prefer risk-off sentiment. The market ignored the weak export and trade balance data in Germany. Moreover, Evans and Bullard’s reports (the FOMC representatives) will be under the spotlight later the day.

Current situation

The price was positive during the night trades. Having found fresh bids around 1.0670 the spot turned bullish and rallied to 1.0700. However, a bid tone sharply weakened in the European session. The spot failed to retake 1.0700 and retreated. The 4 hours chart showed that the price continued staying between the 100 and the 200-EMAs during the day. The 50 and the 100-EMAs were neutral while the 200-EMA pointed higher in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

MACD grew which indicates the sellers’ positions weakening. RSI left the oversold readings and headed north.

Trading recommendations

The overall outlook remained bearish. Sellers need to regain 1.0650 to extend gains. A break below the handle will open the way to 1.0600. A move towards 1.0750 and break above the hurdle will neutralize the current downward scenario.



Pound

General overview

British Parliament approved bill without changes to start Brexit (494 votes to 122). The British PM will soon start parting with the European Union. The decision boosted the sterling's growth. Meanwhile, political uncertainty in Europe also contributed the cable growth. Investors’ attention now turns to the Mark Carney’ speech in the evening.

Current situation

The pound maintained its bullish bias in the early trades on Thursday. A fresh buying pressure around 1.2500 pushed the spot upwards. The Cable rallied and reached 1.2600 post London's open. However, the rally seems to have run out of steam ahead of the NY opening. The major slowed down and slightly moved back. The price bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. The majors stayed above their moving averages afterwards. The 100-EMA was bullish, the 50 and the 200-EMAs remained neutral in the same chart. The resistance lies at 1.2600, the support comes in at 1.2500.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI left the neutral area and moved north.

Trading recommendations

In a wider perspective the GBPUSD pair could gain bullish momentum, if it recovers above the 1.2600 area, the spot will probably maintain bulls in the driver's seat towards the 1.2700 level.



Yen

General overview

The yen trades vs. the US dollar in a narrow range due to the meeting between Donald Trump and Japanese Prime Minister Shinzo Abe. The Japanese yen seem to benefit from the growing political uncertainty in Europe.

Current situation

The USD/JPY pair remained under pressure on Thursday. The price was flat out hovering above 112.00 during the morning hours. The rise in the dollar demand pushed the majors upwards post-European open. The price continued developing well below its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs kept pointing lower in the same chart. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD decreased which indicates the buyers’ positions weakening. RSI left the oversold territory and entered the neutral area.

Trading recommendations

We expect an upward correction which will start as soon as the pair rises above 112.50. The price may extend its rise towards the 113.00 area.



NZD/USD

General overview

The New Zealand dollar significantly fell following the Reserve Bank of New Zealand decision to leave the rate unchanged at 1.75 percent.

Current situation

The NZD/USD pair maintained its offered tone on Thursday. The kiwi found a solid support at 0.7200 in the night. The price faced upward rejection after touching the level and slightly rolled back staying close to three-week lows. A bout of NZD weakness pressured the spot ahead of the NY opening. The NZD/USD struggled to break below 0.7200 in the second part of the day. According to the 4 hours chart the price broke the 50 and the 100-EMAs downwards. The 50 and the100-EMAs were neutral while the 200-EMA kept pointing higher in the mentioned timeframe. The resistance is highlighted at 0.7250, the support comes in at 0.7200.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator left the neutral territory and headed south.

Trading recommendations

The NZDUSD pair eyes strong support at 0.7200 level now. However, the major may change its trajectory to bullish. The potential buyers’ targets are 0.7250 and 0.7300.



XAU/USD

General overview

Gold prices moderately strengthened, staying near the 3-month high due to the growing concerns around the political situation in Europe and the US economic uncertainty.

Current situation

The trend is clearly bullish for now. The price negated night losses and refreshed its highs in the European session. The XAU/USD bounced from 1240 and jumped to 1243 in the early European trades. After touching the mark a buying pressure ran out of steam and the spot sharply dropped below 1240 dollars per ounce. The XAU/USD pair remained in an upward channel. Meanwhile, the yellow metal tested its lower boundary ahead of the Wall Street opening. The gold price hovered above its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator left the overvalued area.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After a close above 1240 the gold price may extend its bullishness to 1250. However, overbought daily studies point to a correction in the short term. In this potential scenario sellers may drive the precious metal to 1230 dollars per ounce.



Brent

General overview

Unexpected drop in US inventories supported oil prices, but the remaining supply glut limited its further growth.

Current situation

Brent kept the upbeat tone unchanged on Thursday. Fresh bids around 55.50 fueled the upward bias pushing the benchmark higher. Traders broke 55.50 post-European open. The advance lost upward momentum around 56.00. After posting a daily high black gold rolled back. The benchmark failed to retake the 50-EMA and bounced off it downwards in the 4 hours chart. The moving averages were flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD grew which indicates the sellers’ positions weakening. The RSI left the oversold area and moved upwards.

Trading recommendations

Bulls continue to control the market. We recommend placing buy orders if the benchmark stays above 55.50 dollars per barrel. The potential buyers’ target is 56.50. A failure here will indicate that our bullish expectation is wrong.



DAX

General overview

European stocks opened green on Thursday. The market has been growing the third session in a row. Societe Generale and the Total shares were getting stronger following their quarterly earnings.

Current situation

The index gapped higher at the open on Thursday. The bears appeared to have loosened grip allowing the benchmark to reverse its previous losses. DAX grew and tested 11600 in the American session. The 1 hour chart showed that the benchmark broke the 100-EMA and tested the 200-EMA. The 50 and the 100-EMAs were bearish while the 200-EMA was flat in the same chart. The resistance exists at 11600, the support stands at 11500.

MACD grew which indicates the sellers’ positions weakening. The RSI left the oversold area and entered the neutral territory.

Trading recommendations

We believe that the index might extend its recovery towards 11600 and 11700 levels.



S&P500

General overview

Wall Street edged higher amid oil prices rally. All eyes are on earnings reports.

Current situation

The index opened green on Thursday. S&P500 slightly grew in the Asian session. The benchmark maintained its bid tone during the European hours trending towards 2300. The price bounced off the 50-EMA upwards in the 4 hours chart. The index stayed above its moving averages during the day. The 50-EMA was flat while the 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance is at 2300, the support comes in at 2280.

The MACD histogram grew which indicates buyers’ strength. RSI moved upwards.

Trading recommendations

The bullish trend remained intact. A break above 2300 may suggest a further growth towards 2320 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.

13.02.2017

Euro

General overview

French Non-Farm Payrolls showed strong data, however, the euro ignored these figures. The common European currency is under pressure amid growing political risks related to the Presidential elections in France. The upcoming elections in Germany. Netherlands and Italy give additional pressure on the euro. Moreover, the US Dollar price-dynamics is underpinned by Trump upcoming tax reform plan.

Current situation

The US dollar kept getting stronger on Friday. After a night light recovery the euro kept losing its value in the European session. Traders broke the level 1.0650 and continued pushing the price lower in the NY session. The EURUSD pair broke the 200-EMA in the 4 hours chart. The 50 and the 100-EMAs remained bearish-neutral while the 200-EMA was bullish in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

The MACD histogram decreased which is a sell signal. RSI left the neutral territory and stayed within the oversold readings favoring a new move lower.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 1.0600. A close below the mentioned support could additional weakness towards 1.0550.



Pound

General overview

The UK Industrial Production came in above expectation and provided a temporal support to the pound. However, a large US dollar recovery across the board made the Cable retreat.

Current situation

The pound remained neutral during the Asian hours on Friday. The spot stayed around 1.2500 flirting with the handle to go lower. Traders managed to break the level in the late European session and drove the spot towards 1.2450. According to the 4 hours chart the price broke the 50 and 100 EMAs downwards. The 50 and the 200-EMAs were neutral, while the 100-EMA kept pointing higher in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator was 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 entered the neutral territory and stayed there.

Trading recommendations

Any move below 1.2500 would increase chances of testing the 1.2400 handle.



Yen

General overview

The US dollar strengthened after Trump agreed to support “One China” policy. Investors ignored upbeat Japanese Domestic Corporate Goods Price index.

Current situation

The US dollar recovery stalled around 114.00. Buyers did not find any reason to lift the price higher. The pair turned around in the European session and slightly rolled back. The USDJPY pair broke the 50 and the 100-EMAs upwards in the 4 hours chart. The 50 and the 100-EMAs were neutral and the 200-EMA maintained its bearish slope in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. RSI was within the overvalued readings.

Trading recommendations

We expect to see renewed bullish pressure in the short-term. The next level to focus on is 113.00.



USD/CAD

Current situation

The pair was neutral during the night hours on Friday. The Asian recovery stalled above 1.3120. The US dollar tried to extend its gains, however, its attempts were weak. A fresh selling pressure weighed on the spot and returned the price below 1.3120 in the second part of the day. The US dollar lost ground and almost reached 1.3050 ahead of the NY opening. The 4 hours chart showed that the price bounced off the 50-EMA downwards and tested the 100-EMA. The USDCAD pair stayed below the 100 and the 200-EMAs during the day. The 50 and the 100-EMAs were neutral while the 200-EMA kept pointing lower in the mentioned timeframe. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

MACD decreased which indicates the buyers’ positions weakening. The RSI stayed within the overvalued readings close to the neutral territory.

Trading recommendations

We prefer to stay bearish for now. We will place sell orders if the USDCAD pair stays below the 1.3120 level. The next sellers’ target is 1.3050.



XAU/USD

General overview

Gold remained under pressure after Trump’s tax announcement. Moreover, the upbeat Chinese Trade Balance added extra pressure.

Current situation

Sellers met a barrier in the 1220 region. Bears were unable to drive the Forex pair lower and retreated giving the way to buyers. The price bounced off 1220 dollars per ounce and reversed some of its recent losses. The gold price bounced from the 50-EMA in the 4 hours chart. The spot continued developing well above its moving averages during the day. The 50 and 200-EMAs were bullish while the 100-EMA remained neutral in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

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

Trading recommendations

The bullish scenario prevailed on Friday. A close above 1230 will trigger fresh gains towards 1240 dollars per ounce.



Brent

General overview

The upbeat Chinese oil imports data supported oil prices. OPEC and non-OPEC members production decline added additional impetus to black gold.

Current situation

Brent maintained its bullish sentiment on Friday. The price bounced off 55.50 dollars per barrel at the daily open and climbed above 56.50 in the NY session. However, Brent lost some vigour above 56.50 and fell on profit-taking action. The 4 hours chart showed that the benchmark broke its moving averages upwards. The moving averages remained mixed in the same chart. The resistance lies at 57.50, the support comes in at 56.50 dollars per barrel.

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

Trading recommendations

The technical picture presents a slightly bullish tone. Brent oil prices now seem to be heading towards its immediate support near 55.50. To return control buyers need to retake 56.50 dollars per barrel.



DAX

Current situation

Despite the positive sentiment at the open the index turned bearish during the late European hours. DAX gapped upwards at the daily open and briefly continued its upward trajectory. The price tested 11700 and moved back immediately after the level test. Sellers seized control and pushed the benchmark downwards later the day. The index broke the 100 and the 50-EMAs in the 4 hours chart. The benchmark stayed above its moving averages during the day. The 50 and the 100-EMAs were flat while the 200-EMA was bullish in the same chart. The resistance exists at 11700, the support stands at 11600.

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

Trading recommendations

We prefer the scenario where the buyers keep control over the index. We expect further upwards moving towards the 11800 level.



NASDAQ

General overview

Wall Street opened in green on Friday after D. Trump said that he will start a tax reform plan in the coming weeks.

Current situation

Bulls gave up their recent gains and slightly retreated on Friday. The price rolled back below its immediate support - 5220 and stayed there flat the whole day. The benchmark hovered above its moving averages in the 4 hours chart. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance is at 5220, the support comes in at 5180.

The histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

We await a break above 5220 level to trigger another leg higher towards the 5260 hurdle. The next potential buyers’ target is 5300.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

14.02.2017


Euro

General overview

The euro reversed a minor part of its losses following the results of Abe-Trump meeting. Meanwhile, dispute about helping Greece weighing on the euro. All eyes are on Germany GDP now where analysts predict the growth in the 4-th quarter.

Current situation

The EUR/USD pair preserved its undertone on Monday. The price remained in a descending channel. The euro found a solid support at 1.0600 and bounced off the level at the daily open. The spot approached the upper limit of a downward channel post-European open. The euro found fresh offers ahead of the NY opening and extended its losses afterwards. The major failed to retake the 200-EMA and pushed away from it in the 4 hours chart. The spot stayed below its moving averages during the day. The 50-EMA crossed the 100-EMA downwards. The 100 and the 200-EMAs pointed higher while the 50-EMA pointed lower in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

MACD remained at the same level which confirms the strength of sellers. RSI indicator consolidated within oversold readings.

Trading recommendations

From a wider perspective, the euro is expected to remain exposed to further downside risks. The technical picture presents a mild bearish tone. A failure to hold above 1.0650 level risks a slide to 1.0600 mark and 1.0550 mark en route.



Pound

General overview

The USD and UK's economic calendars were empty. The trading was influenced by the dollar fluctuations and a risk-on tendency. The market will be focused on UK inflation report. Traders expect to see a growth in January comparing to the previous year.

Current situation

The price turned bullish in the early trades on Monday. The pair met extra buying pressure at the weekly opening. Buyers pushed the price upwards and broke 1.2500 in the Asian trades. The bears slightly loosened their grip in the early European trades. However, a fresh selling interest returned the cable below 1.2500 in the American session. The price bounced off the 100 and the 50-EMAs in the 4 hours chart. The major stayed around the 50 and the 100-EMAs during the day. The 50-EMA headed lower while the 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator was 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 indicator remained within the neutral territory.

Trading recommendations

The GBPUSD pair seems unable to climb above 1.2500. A downtrend will start as soon, as the pair drops below the support level 1.2400. Should that level break down the next bearish target is 1.2300.



Yen

General overview

The dollar rose against the yen following a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe. The Japanese GDP came in slightly below expectations adding some extra pressure to the yen.

Current situation

The Japanese currency maintained control of the flows. Despite the positive opening the bid tone did not last long. Buyers tested the level 114.00 in the Asian session but failed to reclaim it. Sellers fought back control and pushed the spot to the opening prices in the early European session. According to the 4 hours chart the USDJPY continued developing well above the 50 and the 100-EMAs. The 50 and the 100-EMAs remained neutral while the 200-EMA kept pointing lower in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

The MACD indicator is bullish and is still in positive territory. RSI was within the overvalued readings.

Trading recommendations

A close above 114.00 level may generate fresh bullish signal for further advance, which could extend to 115.00 hurdle.



AUD/USD

Current situation

The AUD failed to continue its upward trajectory when it met a solid barrier at 0.7700. The buying momentum eased and the spot retreated to 0.7650 on Monday. The AUDUSD pair tested the 50-EMA in the 4 hours chart. The spot remained above its moving averages. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance is highlighted at 0.7700, the support comes in at 0.7650.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI left the neutral area and stayed within the overvalued readings.

Trading recommendations

Inability to break above 0.7700 might force the AUD/USD pair to resume its downward trajectory towards 0.7600 and 0.7550 levels.



XAU/USD

General overview

Gold prices weakened on Monday following Trump's last actions which reduced investors’ fears regarding his controversial policies. All eyes are on Janet Yellen's speech on Tuesday.

Current situation

The bullish spike lost its legs a few pips below 1240 dollars per ounce. Buyers failed to extend its recovery and moved back. The precious metal returned to 1230 and stayed within its region ahead of the US session opening. A fresh selling interest emerged in the American session and drove the metal towards 1220. The 4 hours chart showed that the gold price bounced off the 50-EMA upwards. All moving averages maintained their bullish slope in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. RSI consolidated within the neutral area.

Trading recommendations

We prefer to stay bearish for now. The 1220 level seems to be the next probable bearish target. The price may extend its decline towards the 1210 area in the coming sessions.



Brent

General overview

Oil prices edged lower on Monday on supply concerns. The price weakened despite the recent output falls. We believe Brent lost ground amid increased drilling activity in the U.S.

Current situation

A consolidation phase did not last too long. After staying a while above 56.50 dollars per barrel the price dropped back below the level during the European morning trades. Sellers managed to push the benchmark to 56.00 first. The ask sentiment remained intact in the second part of the day. Brent kept losing its ground in the North American session. Brent oil price broke the 50-EMA and tested the 100 and 200 EMAs in the NY session. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI left the overvalued readings heading south.

Trading recommendations

The benchmark needs to consolidate below the 56.00 zone to ease the recnet bullish pressure. As the most probable scenario we expect further easing of the oil price towards the 55.50 mark.



DAX

General overview

European stocks edged higher on Monday amid higher copper prices. Energy stocks and financial stocks traded mixed on Monday.

Current situation

The market looks very bullish now. Buyers managed to break the 11700 level and pushed the price higher in the late European session. DAX extended its bullishness during the day and reached 11800 at the NY opening. The index remained above its moving averages in the 4 hours chart. The 50 and the 100-EMAs were flat while the 200-EMA maintained its bullish slope in the same chart. The resistance exists at 11800, the support stands at 11700.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI consolidated within the overvalued territory.

Trading recommendations

We expect to see renewed bullish pressure. If the bullish tone persists we expect a breakout of the level 11800.



S&P500

General overview

Risk-on mode coupled with last D.Trump's actions supported Wall Street sending the stocks to fresh all-time highs.

Current situation

S&P500 held a bullish tone on Monday. The price retreated from its recent highs but remained in its upward channel in the Asian session. The lower limit of the channel stopped sellers and rejected the price during the European trades. The benchmark had reversed a large part of its losses by the NY opening. The price hovered above its moving averages in the 4 hours chart. All the moving averages remained bullish in the same chart. The resistance is at 2320, the support comes in at 2300.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

The overall outlook remains bullish, for rise towards 2340 resistance 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.

15.02.2017

Euro

General overview

The euro could not continue its rally and went down after the downbeat Germany and Eurozone data. The preliminary Eurozone GDP for the 4th quarter came in below expectations. The Eurozone Economic Sentiment for February declined as well.

Current situation

The euro closed on a weak note on Monday. Sellers met a barrier at 1.0600 and failed to retake it. After a brief consolidation phase fresh bids around 1.0600 helped buyers to raise the spot and to reverse a minor part of its losses in the Asian session on Tuesday. However, the upward momentum ran out of steam soon and the EUR/USD softened erasing all its daily gains. The single European currency returned to 1.0600 in the mid-European session. The price tested the 200-EMA but failed to reclaim the moving. The spot bounced off the 200-EMA and headed downwards. The 100 and the 200-EMAs remained bullish while the 50-EMA headed south in the mentioned timeframe. Moreover, the 50-EMA crossed the 100-EMA downwards which is another sell signal. The resistance is at 1.0650, the support comes in at 1.0600.

MACD declined which indicates the sellers’ positions strengthening. RSI indicator stayed within oversold readings.

Trading recommendations

We believe that a bearish trend will remain intact in the near term. A clear break below 1.0600 would indicate that the bearish phase has resumed. The majors may extend their decline towards the 1.0550 handle.



Pound

General overview

The pound fell on the back of disappointing inflation data. The UK’s inflation accelerated to its highest level in more than two years in January. Annual increase in January surpassed its previous figures but remained below the forecast.

Current situation

The cable extended its recovery in the Asian session and reached 3-day highs around 1.2550 where the spot ran through fresh offers. The pound returned under selling pressure in the early European trades. Sellers moved the GBP/USD pair lower and broke 1.2500 with London opening. The spot extended its losses afterwards and posted a daily low at 1.2450. After touching the mark the downward momentum lost its legs allowing buyers to recover a bit. According to the 4 hours chart the price broke the 50 and the 100-EMAs downwards. The 50-EMA crossed the 100-EMA downwards. The 50-EMA pointed lower while the 100 and the 200-EMAs headed north in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator remained 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 indicator left the neutral territory and moved south.

Trading recommendations

The technical picture presents a bearish tone. If the GBPUSD pair fixates below the 1.2500 level the pound may extend its weakness. The potential sellers’ targets are 1.2400 and 1.2350.



Yen

General overview

The U.S. dollar fell vs. the Japanese currency. Japanese Industrial production exceeded investors’ expectations providing a moderate support for the major.

Current situation

The USD/JPY pair maintained its ask tone on Tuesday. Inability to break above 114.00 returned sellers to markets pushing the spot to fresh lows. The pair extended its bearishness in the Asian session and dropped to 113.20 where sellers took a pause post-European opening. The USDJPY pair found a solid support at the 100-EMA in the 4 hours chart. The spot stayed between the 200 and the 100-EMAs during the day trades. The 50 and the 100-EMAs were flat and the 200-EMA headed south in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD decreased which indicates the buyers’ positions weakening. RSI left the overvalued readings and entered the neutral territory.

Trading recommendations

The bullish momentum is likely to be regained. A daily close above 114.00 would risk further advance up to the 114.50 region.



NZD/USD

Current situation

The NZD/USD pair maintained its gloomy trend on Tuesday. The price is in a short-term downward channel. The major bounced off the lower limit of the channel on Monday and reached its upper one in the Asian session on Tuesday. The NZD failed to break the upper band and rolled back staying within its region. The 4 hours chart showed that the price found a decent support at the 200-EMA. The moving averages rejected the pair upwards. The 50-EMA crossed the 100-EMA downwards. The 100 and the 200-EMAs headed north while the 50-EMA pointed lower. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD grew which indicates the sellers’ positions weakening. The RSI stayed within the oversold readings.

Trading recommendations

All eyes are right now at the support level 0.7150. A cut through here will turn attention to the 0.7100 level.



XAU/USD

General overview

Gold prices moderately rebounded on Tuesday as investors focused on Janet Yellen’s remarks to get some clues on the timing of the next rate hike.

Current situation

Gold prices stalled its recovery mode and traded sideways near 1230 region in the Asian session. The precious metal traded modestly flat during the European hours. Gold bulls seemed to have taken a breath from Monday’s sharp decline and consolidated their gains. The precious metal tested the 50-EMA upwards in the 4 hours chart. The XAU/USD pair was above its moving averages during the day. All the moving averages kept pointing higher in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

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

Trading recommendations

A move below 1220 level would indicate that immediate upward pressure eased. The next portable bearish target is 1210 dollars per ounce.



Brent

Current situation

Brent oil prices gapped higher at the daily open. Sellers closed the gap in the night and returned the price to 55.50 where a fresh buying interested pushed the benchmark upwards. The price spiked and reached 56.20 in the early European trades. Buyers failed to advance further and retreated a bit afterwards. The 4 hours chart showed that the oil price broke its moving averages upwards and stayed above them. The 50, 100 and the 200-EMAs were neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

We prefer to stay bearish for now. If the 55.50 support breaks, the price may fall further that should send this market looking for the 55.00 level.



DAX

Current situation

DAX gapped higher at the daily open. The price made a good jump from 11725 to 11779. Buyers tested the level 11800 but failed to break the handle. The index faced a downward pressure and returned below the level. The benchmark traded sideways before the American session opening. The index hovered above its moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 11800, the support stands at 11700.

MACD entered the positive area. If MACD remains within the positive territory, buyers’ positions will strengthen. The RSI consolidated within the overvalued territory.

Trading recommendations

The overall outlook remains bullish, for a rise towards 11900 resistance area. We will place the buy orders only if the index breaks 11800 level. Meanwhile, DAX index has a potential to fill the gap. The price may fall to 11700 in this scenario.



NASDAQ

Current situation

After reaching 5260 the price stopped gaining steam for a fresh leg higher. The index ignores all overbought readings and maintaining its bid tone. NASDAQ stayed in a narrow consolidation range during the Tuesday's trades staying around 5260. According to the 4 hours chart the benchmark hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5260, the support comes in at 5220.

The MACD histogram grew which indicates buyers’ strength. RSI oscillator consolidated within the overvalued readings.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After breaking the 5260 hurdle further extension to 5300 is not ruled out.



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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

16.02.2017

Euro

General overview

The U.S. dollar remained near its fresh highs against other majors. Janet Yellen’s "hawkish" comments supported the US dollar reviving hopes for the rates hike in March. The information from Spain added additional pressure on the euro as consumer price index in January fell despite the forecasts.

Current situation

After touching the level 1.0550 the euro bounced off and was able to reverse a minor part of its losses. The overnight’s recovery attempt stalled just under 1.0600 barrier. The pair came under renewed selling pressure and slipped into negative territory in the late Asian session. Sellers continued pushing the price lower and tested 1.0550 in the late European session. The major continued developing well below its moving averages in the 4 hours chart. The 50 and 100-EMAs maintained their bearish slope while the 200-EMA kept pointing higher in the mentioned timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

The MACD indicator is bearish and is still in negative territory. RSI indicator stayed within oversold readings favoring a new move lower.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. A decisive break below 1.0550 level is likely to accelerate the slide towards 1.0500.



Pound

General overview

The pound updated its lows on the back of mixed employment statistics. The UK's unemployment rate remained unchanged in December while Claimant Count Change dropped stronger than expected. Moreover, the major got under selling pressure after Janet Yellen's statements on Tuesday.

Current situation

A brief phase of night consolidation ended during European morning trade. The pound faced further downside pressure and accelerated its decline. The price touched the level 1.2400 after London's opening. The GBPUSD pair stayed below the 50 and the 100-EMAs in the 4 hours chart. The 50-EMA headed south while the 100 and the 200-EMAs pointed higher in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

The MACD histogram decreased which is a sell signal. RSI indicator left the neutral territory and stayed in the oversold area.

Trading recommendations

The bearish scenario prevailed on Wednesday. After a close below the support at 1.2400 we could see GBP/USD extending its decline down to 1.2300.



Yen

General overview

The pair updated fresh highs in the light of a stronger dollar after Yellen's hawkish remarks. Her speech revived market expectations for the rate hike in March.

Current situation

We maintain a near-term positive bias for the USD/JPY pair. After Tuesday's rally the pair went back and forth in a 30-pips narrow range in the night session. The major remained range-bound to higher in the European one. A fresh buying interest emerged in the late European session giving the spot an upward impetus. The 4 hours chart showed that the USDJPY pair broke all the moving averages upwards. The 50-EMA pointed higher, the 100-EMA was flat and 200-EMA moved lower in the same chart. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD remained at the same level which confirms the strength of buyers. RSI consolidated within the overvalued readings.

Trading recommendations

The overall outlook remained bullish for a rise towards 115.00 resistance area. A break above the level risks a growth towards the 116.00 hurdle.



USD/CAD

General overview

The pair traded in red despite fresh buying interest around the US dollar after the supportive Yellen's statements. Speculation around a soon rate hike improved market sentiment. According to Yellen it wouldn't have any sense to wait a lot to tighten further the monetary policy. Moreover, J.Lacker suggested that the regulator could hike the rate more than 3 times in 2017.

Current situation

The price maintained its bearish tone on Wednesday. The US dollar bullish spike faded and the major softened erasing its previous gains. The USD/CAD pair traded in a tight range in the European session staying range-bound to higher. The price tested the 50 and the 100 EMAs in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 100 and the 200-EMAs headed south while the 50-EMA pointed higher. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

The MACD indicator was bearish and remained in negative territory. The RSI left the oversold readings and stayed within the neutral area.

Trading recommendations

We expect to see renewed bullish pressure. An uptrend will start as soon, as the USD/CAD pair rises above the resistance level 1.3120. The next level to focus on is 1.3190.



XAU/USD

General overview

Gold prices slightly changed on Wednesday. The yellow metal weakened after U.S. Federal Reserve Chair Janet Yellen left open the possibility of rate hike in March. In addition, the positive comments over the US labor market strength and strong inflation forecast fueled the US dollar growth.

Current situation

Gold traded with bearish bias on Wednesday. After a volatile Tuesday the precious metal stabilized amid broad based US dollar consolidation. The price slightly weakened in the Asian session and traded around 1225 during the European one. According to the 4 hours chart the spot broke the 50-EMA downwards. The gold metal was between the 50 and the 100-EMAs during the day. All the moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

MACD indicator was 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 consolidated within the neutral area.

Trading recommendations

In order to recover some strength, the gold metal needs to rise back and hold above 1240. As the most probable scenario, we consider further moving downwards towards the level at 1220, and 1210 en route.



Brent

General overview

Brent traded in red amid investors' doubts about OPEC and non-OPEC members low compliance. The market focused on Crude Oil Stocks change.

Current situation

The black gold also returned to the red zone on Wednesday. The price failed to survive at local highs at 56.50 and sharply dropped to its nearest support - 55.50 dollars per barrel. The benchmark remained above the level flirting with the last to move lower. The benchmark broke its moving averages downwards and stayed below them in the 4 hours chart. The 50, 100 and the 200-EMAs remained neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI stayed within the neutral area close to the oversold level.

Trading recommendations

We await a break below 55.50 handle to trigger another leg lower. A further decline would generate negative signal and risk further easing of the Brent oil price towards the 54.50 level.



DAX

General overview

European stocks grew as the banking sector moved higher. Besides, strong earning reports provided an additional boost to the shares.

Current situation

DAX gapped higher at the open. The price jumped through 11800 and slightly grew afterwards. Buyers failed to maintain its upward trajectory and stepped away. The benchmark edged lower and broke 11800 in the late European session. The index price continued developing well above its moving averages in the 4 hours chart. The 50 and the 100-EMAs were neutral while the 200-EMA headed north in the same chart. The resistance exists at 11800, the support stands at 11700.

The MACD histogram grew which indicates buyers’ strength. The RSI consolidated within the overvalued territory favoring a new move higher.

Trading recommendations

The index price seems to be unable to climb over 11850 mark. Firm break below 11800 handle would open 11700. The current decline we consider corrective.



S&P500

Current situation

S&P500 was unable to climb higher and retreated from its recent all-times highs. After touching 2340 the price rolled back and stopped at 2334 ahead of the NY opening. According to the 1 hour chart the index price bounced off the 50-EMA and remained above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 2340, the support comes in at 2320.

The MACD histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings favoring a new move higher.

Trading recommendations

The index is in corrective phase now. If the price fixates below 2330 the benchmark may extend its weakness in the short term. The potential sellers’ target is 2320.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

17.02.2017

Euro

General overview

The employment in Germany rose at the slowest pace for three years in the 4th quarter 2016. The unemployment level in France dropped more than expected. Nevertheless, the euro rose on Thursday amid the US dollar broad based retracement on profit taking action.

Current situation

The pair seems to have run through fresh bids around 1.0500 on Wednesday. The spot received the upward impetus and jumped upside. The common European currency extended its recovery on Thursday. Buyers broke the 1.0600 hurdle in the Asian trades and pushed the spot higher. The EUR/USD pair was growing the whole morning and approached 1.0650 post-European open. The level stopped buyers’ further advance. The 4 hours chart showed that the price tested the 200-EMA in the late European session. The 50-EMA crossed the 100-EMA downwards. The 50 and the 100-EMAs headed south while the 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

MACD grew which indicates the sellers’ positions weakening. RSI indicator stayed within neutral area and headed north.
Trading recommendations

We believe that a close above 1.0650 will generate fresh bullish signal for further advance, which could extend to the 1.0700 barrier. If buyers fail to retake 1.0650 the euro may return below 1.0600.



Pound

General overview

The pound returned some of its early losses and came back to the session highs despite the disappointing inflation and labor market reports. Today all British investors are focused on retail sales release.

Current situation

Sellers stopped when they met a barrier at 1.2400 on Wednesday. The level rejected the price which spiked upwards immediately after the level test. The pound was slowly growing during the Asian hours and accelerated its upward trajectory in the European session. The GBP/USD pair tested the level 1.2500 at the London open but failed to advance beyond it. The pair bounced off the 200-EMA, broke the 100-EMA upwards and tested the 50-EMA in the 4 hours chart. The moving averages remained bullish-neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator was 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 indicator left the oversold area moving upwards.

Trading recommendations

A sustained break above the 1.2500 region is seen as minimum requirement needed to confirm bullish resumption. In this scenario, buyers may lead prices towards the 1.2600 mark. A failure here will return the price to a downside movement.



Yen

General overview

According to the Japanese PM Taro Aso, the current yen rate is not low at all. Meanwhile, investors preferred to take profit amid the dollar retracement.

Current situation

The USD/JPY pair turned bearish on Wednesday. The price got under intense selling pressure and sharply dropped. Traders broke the level 114.00 at the daily open and drove the price lower in the night session. European traders continued pushing the price lower and reached the 113.50 mark in the mid-European session. The pair broke the 200-EMA downwards in the 4 hours chart. The spot stayed between the 50 and the 100-EMAs during the day. The 50-EMA was bullish while the 100 and the 200-EMAs headed south in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD decreased which indicates the buyers’ positions weakening. RSI left the oversold readings and entered the neutral territory.

Trading recommendations

All eyes are now at the 113.50 mark. If the price fixates below the handle, the USD/JPY major may fall further sending this market looking for the 113.00 level. Inability to move the price lower shall return buyers in a driver’s seat.



AUD/USD

General overview

The Australian dollar ignored the Australian labour market report despite its upbeat figures. The January employment report was quite neutral, the unemployment rate declined as the number of part time workers increased, while the number of full time workers dropped.

Current situation

The AUD/USD pair maintained its near-term upward trajectory on Thursday. The Aussie rallied on Wednesday and refreshed its multi-month highs at 0.7732. Investors did not find any reason to lift the Australian dollar higher and stepped back in the Asian session on Thursday. The pair declined amid profit-taking and tested the level 0.7700 in the European morning. The spot stayed around the level during the day. According to the 4 hours chart the price bounced off the 50-EMA upwards and stayed above its moving averages during the day. The 50, 100 and the 200-EMAs maintained their bullish slope in the mentioned chart. The resistance is highlighted at 0.7750, the support comes in at 0.7700.

The MACD traded to the upside. The RSI was within the overvalued readings.

Trading recommendations

The technical picture presents a bullish tone. We think that the AUDUSD pair might extend its gains towards 0.7750, and 0.7800 en route.



XAU/USD

General overview

Gold rose amid the US dollar broad based weakness. However, gold advance was limited in the light of optimistic views over Trump's tax reform plans. Yellen's hawkish comments also limited its growth.

Current situation

Buyers fought back control over the market. The price reversed its direction when sellers failed to reclaim 1220 dollars per ounce. The level rejected gold prices upwards which rallied through 1230 on Wednesday and slowed down in the Asian session. A new day refreshed buyers’ strength pushing the spot higher. The XAU/USD pair reached 1240 dollars per ounce in the mid-European session. The level stopped bulls’ advance. The gold price bounced off the 100-EMA and broke the 50-EMA upwards in the 4 hours chart. The precious metal continued developing well above its moving averages during the day. All the moving averages headed higher in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD indicator was 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 consolidated within the overvalued readings close to the neutral area.

Trading recommendations

A bullish tone prevails in the 4 hours chart. Any move above the immediate resistance 1240 dollars per ounce would increase chances of testing the 1250 mark.



Brent

Current situation

There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened. Sellers reversed black gold and pushed the benchmark downward sending the market to the opening prices. The 4 hours chart showed that the benchmark broke its moving averages. The 50, 100 and the 200-EMAs were flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI consolidated within the neutral area and moved north.

Trading recommendations

We prefer to stay bearish for now. A move below 55.50 would indicate that immediate upward pressure eased. The next mark to focus on is 50.00 dollars per barrel.



DAX

General overview

European stocks fell following uncertain corporate report after the longest 19 months rally.

Current situation

Bulls lost the initiative and gave the way to sellers who became stronger yesterday. The price bounced off 11800 in the morning trades and edged lower. Sellers pushed the price to 11750 in the mid-European session and kept the price within its region. The index remained above its moving averages in the 4 hours chart. The 50-EMA crossed the 100-EMA downwards. All the moving averages were pointed in the mentioned chart. The resistance exists at 11800, the support stands at 11700.

The MACD indicator was bullish and still in positive territory. The RSI headed south but remained within the overvalued readings.

Trading recommendations

We favor a short-term bearish bias now. If a bearish tone persists we expect a breakout of the level 11700. To retain its bullishness DAX needs to regain 11800.



NASDAQ

Current situation

Bulls reinforced their positions when they broke above 5300. Traders took a pause after the recent rally gaining steam for fresh actions on Thursday. The index stayed in a tight range above 5300 during the day. According to the 4 hours chart NASDAQ hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5340, the support comes in at 5300.
The MACD histogram grew which is a buy signal. RSI oscillator stayed within the overvalued readings.

Trading recommendations

We expect a downward correction which will start as soon as the benchmark drops below the support level 5300. The next sellers’ target is 5260. Should the index recover ground and advance above the 5300 hurdle, the rally can extend in the short term up to 5340.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

20.02.2017

Euro

General overview

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece.

Current situation

The upside momentum seemed to have run out of steam on Friday. The euro was not able to surpass the mark 1.0680 and pulled back. The market was quite during the Asia session and became more agile in the European morning. European traders brought some dollar’s demand pushing the spot lower. The euro sharply dropped and tested 1.0650 post-European open. The level stopped sellers’ advance rejecting the pair upwards. The EURUSD pair bounced off the 100-EMA, broke the 200-EMA downwards and tested the 50-EMA. The 50 and the 100-EMAs pointed lower while the 200-EMA was bullish-neutral in the mentioned timeframe. The resistance is at 1.0700, the support comes in at 1.0650.

MACD entered the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI indicator stayed within the overvalued readings and moved downwards.

Trading recommendations

EURUSD is having difficulties to go any higher. A break below 1.0600 suggests further weakness of the major towards the 1.0550 level. If the level stands it is a good time to buy on a dip.



Pound

Current situation

From a technical point of view the cable remained within last week's trading range. The GBP/USD pair met a wave of selling pressure when the spot failed to reclaim the 1.2500 psychological mark. The pound sharply fell from 1.2500 in the Asian session and reached 1.2400 overnight. The handle stopped its further losses rejecting the price upwards. The GBPUSD major bounced off the 100-EMA, broke the 50-EMA downwards and tested the 200-EMA in the 4 hours chart. The100 and the 50-EMAs were flat while the 200-EMA was bullish-neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator was 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 indicator left the neutral territory and moved south.

Trading recommendations

The technical picture presents a light bearish tone. We suppose the major will go to 1.2400 first. Having overcome the first target the price might advance its decline towards the 1.2340 level.



Yen

Current situation

Despite of Thursday's sharp sell-off buyers managed to defend 113.00 handle. The price stopped at the level and even staged a tepid recovery on Friday. According to the 4 hours chart the price broke the 100 and the 50-EMAs downwards. The USDJPY pair stayed below its moving averages afterwards. The 200 and the 100-EMAs pointed lower and the 50-EMA headed higher in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD entered the negative area. If MACD remains within the negative territory, sellers’ positions will strengthen. RSI remained within the oversold readings favoring a new move lower.

Trading recommendations

The bearish trend remained intact. A firm break below 113.00 handle could trigger fresh weakness for attack at 112.00.



NZD/USD

Current situation

The NZD/USD pair came under some renewed selling pressure and extended its slide below 0.7200 handle on Friday. After breaking the level sellers ran out of steam and took a break gathering strength for a fresh move lower. The major bounced off the 50-EMA downwards in the 4 hours chart. The spot continued developing well between the 50 and the 200-EMAs during the day. The 100-EMA was neutral, the 50-EMA pointed lower while the 200-EMA headed higher in the same chart. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD indicator was at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. The RSI left the overvalued readings and was within the neutral area.

Trading recommendations

If the spot overcomes 0.7200 upwards we will neutralize our medium term negative outlook. Bulls may push the NZDUSD pair towards the 0.7250 level. Otherwise, a drop below 0.7150 will reinforce sellers’ positions opening doors for a continued weakness towards 0.7100.



XAU/USD

Current situation

Gold remained around its recent peaks on Friday. The price failed to advance beyond 1240 facing sellers’ resistance on any up-move in the early trades. The metal made another attempt to grow in the late European session. The price pushed away from 1240 and reached 1245 in the NY session opening. The 4 hours chart showed that the gold price hovered above its moving averages. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI consolidated within the overvalued readings.

Trading recommendations

Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels.



Brent

Current situation

Brent presented a modest bearish tone on Friday. The benchmark opened red and moved lower in the Asian session. Sellers reached 55.50 in the early European trades and broke the handle later the day. After breaking the level Brent oil prices extended their losses and tested the mark 55.00 ahead of the NY opening. The benchmark broke its moving averages downwards. The 50, 100 and the 200-EMAs were flat in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI stayed within the neutral area and moved downwards.

Trading recommendations

We recommend to sell if the benchmark consolidates below the level of 55.50. The potential sellers’ target is 54.50 dollars per barrel.



DAX

Current situation

DAX gapped lower at the open on Friday. The index maintained its ask tone after the jump and moved lower. Sellers touched the level 11700 ahead of the NA opening. The index tested the 50 and the 100-EMAs 4 hours chart. DAX stayed above its moving averages. All the moving averages headed north in the same chart. The resistance exists at 11800, the support stands at 11700.

MACD decreased which indicates the buyers’ positions weakening. The RSI left the overvalued readings and headed south.

Trading recommendations

The price maintained its bearish tone in the 4 hours chart. A daily close below 11700 would risk 11600.



S&PЗ500

Current situation

The index extended its bearish slide on Friday. The price retreated from 2347 in the Asian session and reached 2340 post-European open. The level halted sellers’ advance rejecting the price upwards. The index continued developing well above its moving averages in the 4 hours chart. All the moving averages maintained their bullish slope in the same chart. The resistance is at 2360, the support comes in at 2340.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed within the overvalued readings favoring a new move lower.

Trading recommendations

We prefer to stay bullish for now. If bulls retain control we cannot rule out the chance that S&P500 would reach the level at 2360.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

21.02.2017

Euro

General overview

The euro needs fresh drives to reverse significant losses which it suffered on Friday. Meanwhile, the common European currency might weaken further in the light of upcoming presidential elections in France. All eyes are on German Manufacturing PMI which is expected below forecasts.

Current situation

The EUR/USD pair remained in sellers' hands on Monday. Despite the overall negative picture the EUR/USD pair was trading in the green zone in the morning. Euro buyers were rescued by the 1.0600 handle which rejected the spot upwards. The euro reached 1.0630 where the recovery lost its legs. The price tested the 50-EMA in the 4 hours chart. The 50-EMA crossed the 200-EMA downwards. The 50 and the 100-EMAs headed south while the 200-EMA kept pointed higher in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

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

Trading recommendations

A close above 1.0650 will generate fresh bullish signal for further advance, which could extend to the 1.0700 level. A failure here will open doors for fresh sellers’ attack at 1.0600.



Pound

General overview

The GBP/USD spiked and recovered almost all its Friday’s losses on Monday. The pound was able to strengthen amid a weaker dollar and a light market due to the public holiday in the USA. Moreover, Industrial Trends Survey came out better supporting the British currency. Today traders are waiting for the Mark Carney’s speech.

Current situation

In general, the market was in sellers' hands and the major remained in a consolidative structure between 1.2400 - 1.2600 during Monday’s trades. A fresh buying interest around 1.2400 helped bulls to revert last Friday sell-off. The price spiked to 1.2476 where the upward impetus lost its strength. According to 4 hours chart the price was between 200-EMA and 50-EMAs during the day. The 50 and the 100-EMAs kept pointing lower while the 200-EMA was bullish in the mentioned timeframe. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD grew which indicates the sellers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

If a bullish momentum remains intact the cable will have a chance to reclaim 1.2500. After a breakout of the 1.2500 level the spot may test 1.2544. On the other hand existing selling pressure may lead the major below 1.2400 towards 1.2340.



Yen

General overview

The dollar rose against the yen on Monday. Donald Trump’s financial stimulus hasn’t come true yet. The current uncertainty over Trump’s plans weighs on the US dollar. Meanwhile, the yen weakened following the downbeat Foreign trade and Export reports.

Current situation

The dollar strengthened vs. the yen, pushing the USD/JPY pair back above 113.00 handle on Monday. The pair caught fresh bids and reversed majority of Friday's losses in the Asian session. Traders were able to push the price above 113.00 where their advance slowed down. The price was stopped by the 100-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA upwards. The 100 and the 200-EMAs pointed lower while the 50-EMA maintained its bullish slope. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

If bulls control the market, the USD/JPY pair may try to reach 114.00 after breaking 113.40. Conversely, a break below 113.00 will open room for further downside towards 112.55.



USD/CAD

General overview

Oil price dynamics coupled with difference between Fed and the Bank of Canada policies kept on weighing on the CAD.

Current situation

The USD/CAD consolidated in a tight range below the 1.3120 hurdle after a failure to regain the mentioned level. The price edged lower within the range in the Asian session and was able to reverse all its losses during the European hours. The 4 hours chart showed that the price found a decent support at the 100-EMA. The 50 and the 200-EMAs headed south while the 100-EMA was in a flat. The resistance is highlighted at 1.3120, the support comes in at 1.3050.

MACD indicator was 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 remained within neutral territory.

Trading recommendations

All eyes are right now at the support level 1.3050. A move above the level will turn attention to the 1.3000 handle.



XAU/USD

General overview

Gold weakened on Monday amid a light market as American stocks were closed due to the President's day celebration. Market players wait for further hints regarding Fed’s rate hike timing.

Current situation

The XAU/USD pair maintained a bullish tone on Monday. Gold consolidated above 1230 dollars per ounce after the Friday's sell-off. Sellers failed to retake the level which rescued buyers from further losses. The price pulled back in the Asian session and reached the 1235 mark in the morning. The spot hovered above the level before NY opening. The price bounced off the 50-EMA upwards in the 4 hours chart. The XAU/USD pair was above its moving averages during the day. The 200 and 100 EMAs maintained their bullish slope while 50-EMA was in flat in the mentioned chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD remained at the same level which confirms the strength of buyers. RSI was neutral.

Trading recommendations

A move below 1230 level would indicate that immediate upward pressure eased. The next portable bearish target is 1220 dollars per ounce.



Brent

General Overview

Oil prices grew due to OPEC’s output cut agreement ignoring the increased US drilling activity and record high inventories.

Current situation

Brent opened green on Monday. The price pushed away from 55.50 during the early hours on Monday. The benchmark was rallying the whole night and in the European morning. Oil futures reached 56.50 post-European open but failed to advance beyond. The hurdle rejected the price which eased erasing some daily gains. The 4 hours chart showed that the 50-EMA crossed the 200-EMA upwards. The benchmark continued developing well above its moving averages during the course of the day. The 50-EMA kept pointed higher, 100-EMA and the 200-EMA were flat in the same timeframe. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

We remain bearish. If the 55.50 support breaks, oil prices may fall further sending this market towards the 55.00 handle.



DAX

General overview

European stocks slightly rose on Monday following telecommunication sector strengthening. However, Unilever's shares decline led the stocks lower.

Current situation

DAX gapped higher at the daily open. The price jumped through 11800 and slightly grew afterwards. The index reached the mark 11864 and suddenly changed its direction when a fresh selling pressure returned the benchmark to 11800 post European open. The index hovered above its moving averages in the 4 hours chart. The 50-EMA touched the 100-EMA. The moving averages maintained their bullish slope in the mentioned chart. The resistance exists at 11900, the support stands at 11800.

The histogram grew which is a positive signal. The RSI indicator was near overvalued territory.

Trading recommendations

The overall outlook remains bullish, for a rise towards 11900 resistance area. However, we will place buy orders only if the index breaks the 11800 level. Meanwhile, DAX index has a potential to fill its morning gap. The benchmark may fall to 11700 in this scenario.



NASDAQ

Current situation

The trend is clearly bullish for now. Bulls kept pushing the price upwards during the Asian session on Monday. They touched the 5340 hurdle in the European morning trades and bounced off the level immediately afterwards. According to the 4 hours chart the benchmark hovered above its moving averages. All the moving averages maintained their bullish slope in the same chart. The resistance is at 5340, the support comes in at 5300.

MACD remained at the same level which confirms the strength of buyers. RSI oscillator consolidated within the overvalued readings.

Trading recommendations

A bullish tone prevails in the 4 hours chart. After breaking the 5340 hurdle we expect further extension to 5380.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

23.02.2017

Euro

General overview

The euro is under pressure amid growing concerns over the presidential elections in France and growing expectations over the possible Fed rate hike in March. Germany Business Climate came in above expectations despite the negative forecast. However, the market ignored the release.

Current situation

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows. The price bounced off 1.0550 and dropped to 1.0500 in the European morning. The 100-EMA tested the 200-EMA in the 4 hours chart .The 50 and 100 EMAs maintained their bearish slope while 200-EMA was neutral. The price continued developing well below the moving averages. The resistance is at 1.0550, the support comes in at 1.0500.

The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator consolidated within negative area.

Trading recommendations

A break below 1.0500 will trigger another leg lower. A move below 1.0500 would revive bearishness towards 1.0450.



Pound

General overview

The UK's GDP showed upbeat result, however, the pound ignored the release.

Current situation

The pound maintained its neutral tone trading in a familiar range on Wednesday. The cable failed to sustain the Tuesday's recovery, the pair sharply dropped after touching 1.2500. The price reached 1.2450 within a few hours and stayed around the session low until the NY opening. The major bounced off the 100-EMA downwards and broke the 50-EMA. The 50 and 100 EMAs maintained their bearishness while the 200-EMA stayed neutral/positive. The resistance lies at 1.2500, the support comes in at 1.2400.

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

Trading recommendations

We preserve our bearish outlook. A break below 1.2400 shall open the way for further losses towards 1.2350 and 1.2300.



Yen

Current situation

The US dollar maintained its bearish tone on Wednesday. The Tuesday's recovery stalled a few pips below 114.00. Bears tightened their grip and sent the rate towards 113.00 in the Asian session. European sellers continued pushing the major lower and reached the targeted level in the mid-European session. According to 4 hours chart the spot rebounded from 50-EMA and broke the 100-EMA downwards. The moving averages pointed lower in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

We expect to see renewed bearish pressure. As the most probable scenario, we consider further moving downwards towards the mark at 112.60, en route to 112.00.



NZD/USD

Current situation

The trend is objectively bearish. The NZD extended its Tuesday's recovery reversing more-than half of its previous losses. The price stalled above 0.7150 trading in a tight range on Wednesday. The spot was almost unchanged flirting with the fresh highs the whole day. The 50-EMA crossed the 200-EMA downwards in the 4 hours chart. The 50 and 100 EMAs pointed lower while the 200-EMA maintained its bullish slope. The price continued developing below the moving averages in the mentioned timeframe. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD decreased which confirms the strength of sellers. RSI remained within neutral territory.

Trading recommendations

The price eyes a support at 0.7150 loss of which would trigger further weakness towards 0.7100.



XAU/USD

General overview

Gold prices remained under pressure ahead of Fed minutes awaiting for fresh guidelines regarding the next rate hike timing.

Current situation

The precious metal traded mostly sideways on Wednesday. Tuesday’s recovery helped gold to reverse all its early losses. Buyers returned the spot to the 1240 hurdle where the pair XAU/USD stood still the first part of the day. According to 4 hours chart the price rebounded from 100-EMA and crossed 50-EMA upwards. The metal was above the moving averages which were all pointing higher in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

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

Trading recommendations

Gold remained well offered. A firm break below 1230 handle would open 1220 dollars per ounce.



Brent

General Overview

Despite the recent drop oil prices remained around 7-week high on hopes that OPEC will achieve full compliance to the production cut agreement. Yesterday the price weakened ahead of the US crude stockpiles report. Traders were afraid that the report would show another build in the inventories. Besides, a fresh demand around the US dollar kept on weighing on the benchmark.

Current situation

Brent turned negative on Tuesday and extended its weakness on Wednesday. The Asian recovery lost its legs around 57.00 where the benchmark found fresh offers. The price sharply dropped and broke the 56.50 handle in the late Asian trades. Sellers drove the price to 56.10 afterwards where black gold found a decent support. 50-EMA crossed the 100-EMA upwards in the 4 hours chart. The 50 and 100 EMAs kept heading higher while 200-EMA turned lower. The price continued developing above the moving averages. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD decreased which indicates the buyers’ positions weakening. RSI was neutral.

Trading recommendations

After a daily close below 56.50 dollars per barrel we could see the pair extending down to the 55.50 region.



DAX

General overview

European stocks traded mixed on Wednesday on the back of earnings and recent economic releases. DAX posted upbeat results when touched all-time high at 12000. Financial stocks were mixed while mining ones moved lower.

Current situation

DAX posted fresh all-times highs on Tuesday and consolidated its gains on Wednesday. The price pierced 12000 but failed to retake the level. The benchmark remained around the hurdle flirting with fresh highs in the European session. According to 4 hours chart the benchmark was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.

The histogram grew which is a buy signal. The RSI indicator remained within overbought readings.

Trading recommendations

A pullback is expected in the short term. Below 12000, the index is likely to target at the 11900 support.



NASDAQ

General overview

US stocks moved lower at per-market ahead of the Fed’s minutes publication.

Current situation

The index gave up its fresh highs and pulled back on profit-taking. NASDAQ returned to 5340 in the early trades on Wednesday and stayed around the level until the American stocks open. According to 4 hours chart the 50, 100 and 200 EMAs maintained their bullishness. The price continued developing well above the moving averages in the same chart. The resistance is at 5380, the support comes in at 5340.

MACD traded to the downside. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

A sharp breakout below 5340 could spark a further decline towards 5320.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

24.02.2017

Euro

General overview

Germany GDP came out as expected without changes in the 4th quarter. The GDP rose at good pace last year despite Brexit. All eyes are on the presidential election in France.

Current situation

The EUR/USD pair traded with mild bearish bias on Thursday. The euro reached 1.0500 but lost strength after touching the level and turned to the upside. Buyers reversed all its recent losses and returned the spot to 1.0550 where the major stayed in a directionless trading during the European hours. The spot broke the 50-EMA and stayed within its region in the 1 hour chart. All the moving averages continued moving downwards. The resistance is at 1.0550, the support comes in at 1.0500.

MACD grew which indicates the sellers’ positions weakening. RSI was neutral.

Trading recommendations

The EUR/USD pair remained in a descending channel. We do not see a potential to post more gains. The bearish momentum is likely to be regained as soon as the single European currency gets below 1.0550. Buyers need to retake 1.0600 to ease the downward pressure.



Pound

General overview

The pair traded in the narrow range due to the empty British calendar. Meanwhile, the US Fed meeting minutes did not inspire investors to buy the dollar.

Current situation

The pound remained rangebound on Thursday. Sellers found a solid barrier at 1.2400 and had to retreat. The price bounced off the handle but failed to build a strong up-move and stalled below the 1.2500 psychological level. The cable touched the 50-EMA in the 4 hours chart. The moving appeared to be a strong obstacle to break at once. The pair stayed in-between the 50 and 200 EMAs during the day trying to move higher. The 50 and 100 EMAs pointed lower while the 200-EMA extended its bullishness. The resistance lies at 1.2500, the support comes in at 1.2400.

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 stayed within neutral territory.

Trading recommendations

A sharp breakout below 1.2400 could spark a further decline towards 1.2370 in the coming sessions. Alternatively, a break and consolidation above 1.2500 will increase buyers’ chances to reach 1.2550.



Yen

General overview

The dollar weakened a bit despite the FOMC meeting minutes which mentioned the probable Fed monetary policy tightening. The Japanese calendar remains thin and uneventful the pair will mostly depend on the US data

Current situation

The USD/JPY pair stayed rangebound on Thursday being limited in a tight range between 113.00 and 113.50. The price stayed flat out during the Asian and European hours and became more agile ahead of the NY opening. Sellers led the price lower and broke 113.00. The major stayed around the 100-EMA which acted as a support for the US dollar. The 4 hours chart showed that the pair was sandwiched between the 100 and 50 EMAs during the day. The 50, 100 and 200 EMAs maintained their mild bearish slope in the same chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

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

Trading recommendations

It is hard to predict the pair's further move. A clear break below 113.00 would indicate that the bearish phase has resumed. Conversely, to recover some strength the major needs to rise back and hold above 114.00.



USD/CAD

General overview

The US dollar weakened against the Canadian dollar. All eyes are on Canadian Consumer Price Index which is expected above expectations.

Current situation

The US dollar failed to sustain its recovery on Wednesday. The upward move lacked momentum around 1.3190 where the spot found fresh offers. The pair continued being offered on Thursday. Sellers pushed the price from the 1.3190 hurdle to 1.3120 and reached the last post-European open. The USD/CAD pair touched the 200-EMA which acted as a support for the major in the 4 hours chart. The US dollar struggled hard to retake the moving in the European session. The 200-EMA moved lower while the 50 and 100 EMAs were neutral in the mentioned timeframe. The resistance is highlighted at 1.3190, the support comes in at 1.3120.

MACD decreased which confirmed the growing strength of sellers. RSI moved to downside.

Trading recommendations

The technical picture favors a downward extension unless the level 1.3120 holds. A move below the handle will open the door for a 1.3090 region retest. A failure to break the mark may send the pair to 1.3190.



XAU/USD

Current situation

Gold extended its sideways consolidation on Thursday. The recent upmove lost its upward momentum around 1240 where the precious metal traded the first part of the day. The precious metal turned bullish in the North American session. Buyers broke above 1240 and led the XAU/USD pair to 1245. According to 4 hours chart the spot continued to stay above its moving averages which extended their bullish slope. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

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

Trading recommendations

We expect gold futures to trade sideways tending to grow in the coming sessions.



Brent

General Overview

Oil prices slightly grew as investors became more optimistic after the OPEC's production cuts according to the meeting in Doka. The prices grew despite the U.S. Crude Oil Inventories withdrawal.

Current situation

Brent oil prices extended their recovery in the Asian session on Thursday. Buyers led the price higher and broke 56.50 dollars per barrel in the early European morning. European buyers failed to maintain an upward momentum and stepped back. The price returned to 56.50 and stayed there until the NY open. After breaking the 50 and 100 EMAs the price remained above the moving averages in the 4 hours chart. All the moving averages were flat. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD slightly grew while RSI moved within neutral readings.

Trading recommendations

Brent needs to fixate above 56.50 dollars per barrel to extend its bullishness. The 57.50 hurdle is the next buyers' target. A failure to hold above 56.50 risks a slide to the 56.00 - 55.50 region.



DAX

General overview

European stocks traded mixed on Thursday as investors focused on earnings reports. Besides, traders kept weighing up the latest Fed's minutes. Financial stocks faced some buying pressure while mining stocks were mixed.

Current situation

DAX traded in a tight range on Thursday. After reaching 12000 the upward momentum lost its strength. Traders seem to be consolidating their gains now. According to 4 hours chart the price was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator was near overvalued territory, favoring a move lower.

Trading recommendations

The index may develop a minor technical correction if it fails to retake 12000. The benchmark may ease to 11900 on profit-taking.



S&P500

General overview

The US investors prefer to stay out of market awaiting for further details on Trump's fiscal policies.

Current situation

S&P500 traded around its recent highs on Thursday. The price stayed in a tight range of 50 pips or less struggling with 2360. The benchmark was above its moving averages which were all pointing higher in the 4 hours chart. The resistance is at 2360, the support comes in at 2340.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator stayed near overbought levels.

Trading recommendations

The index will remain in a directionless mode until S&P500 finds fresh drivers. Meanwhile, we expect a recovery to 2350.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

27.02.2017

Euro

General overview

The currency pair EUR/USD grew taking advantage of the weak US dollar. The dollar was under pressure since the middle of the trading week amid the FOMC minutes and the new Finance Minister Steven Mnuchin's statements on tax reform.

Current situation

Despite the recent growth the EUR/USD pair remained in a downward channel. Buyers just managed to lead the price to its upper limit. The overnight’s recovery attempt stalled just under 1.0600 barrier in the early European hours. The pair’s upside lost some vigour finding fresh offers around the level. Buyers tried to break above 1.0600 ahead of the NY opening. The price broke the 50-EMA in the 4 hours chart and stayed above the moving average. 100-EMA crossed 200-EMA downwards. The 50 and 100 EMAs pointed lower while 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

MACD grew which indicates the sellers’ positions weakening. RSI was neutral.

Trading recommendations

A move above 1.0600 will support buyers sending the market to 1.0630 – 1.0650. A return to 1.0550 may open the way for a move to 1.0500.



Pound

General overview

The British pound maintained its bid tone flirting with its recent highs. The British pound was able to strengthen amid positive BBA Mortgage Approvals and the US dollar retracement.

Current situation

GBP/USD did not have enough momentum to reach the 1.2600 resistance. Bulls stopped at the mark 1.2565 being unable to push the spot higher. The pair stayed in a tight range of 50 pips during the European session. A bout of fresh selling interest emerged in the European morning. The Cable declined against the dollar heading towards 1.2500. The pair rebounded from 200-EMA and broke 50 and 100-EMA upwards in the 4 hours chart. The British pound continued developing well above the moving averages. The 50 and 200 EMAs pointed higher while the 100-EMA maintained its bearish slope in the same chart. The resistance lies at 1.2600, the support comes in at 1.2500.

The MACD histogram grew which indicates buyers’ strength. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

The bullish tone is likely to remain intact. A move above 1.2550 would revive bullishness towards 1.2600 – 1.2650.



Yen

General overview

USD/JPY continued its smooth slide on Friday. The current situation on the currency market is not good for the US dollar, as the Fed recent minutes indicated small chances of rate hike in March.

Current situation

The USD/JPY pair maintained its offered tone on Friday. Buyers reversed a minor portion of their losses in the night. Traders pushed the price to 113.00 but failed to break above the hurdle. Sellers returned control in the late Asian session, pushed the US dollar lower and erased all buyers' gains in the early European session. The 4 hours chart showed that the price broke the 100-EMA downwards and moved lower. The 100 and 200 EMAs maintained their bearish slope while 100-EMA turned neutral. The price continued developing well below the moving averages in the mentioned timeframe. The resistance is highlighted at 113.00, the support comes in at 112.00.

The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 112.00.



AUD/USD

General overview

The Australian dollar fell after the Governor of the RBA Phillip Lowe made it clear that the Central Bank did not intend to raise interest rates in the nearest time.

Current situation

Despite the overall positive trend bulls seem have no desire to move higher. After posting recent highs at 0.7739 the price softened and returned to 0.7700 where remained in a consolidation stance during the night session. The rise in the dollar demand made the AUD break below 0.7700 pushing the Australian currency towards 0.7650. According to 4 hours chart the price tested the 50-EMA. All the moving averages pointed higher. The resistance is highlighted at 0.7700, the support comes in at 0.7650.

The histogram declined which is a sell signal. RSI was neutral.

Trading recommendations

In order to recover some strength, AUD/USD needs to rise back and hold above 0.7700. The current decline we consider corrective. It is a good opportunity to buy on dips. Only a break below 0.7650 will ease the upward pressure. A move below 0.7550 will be able to neutralize the buying pressure and open the way to further weakness.



XAU/USD

General overview

Gold reached three-month highs on Friday amid the dollar in the light of the latest FOMC minutes analysis. The world political instability increased the demand for risk-free assets as well.

Current situation

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning. Strong bullish interest helped the price to break 1250 and drove the price towards 1260 afterwards. The 4 hours chart showed that the price continues developing well above the moving averages. The moving averages maintained their bullish slope in the same timeframe. The resistance exists at 1260, the support stands at 1250 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI went upwards which confirms the strength of buyers.

Trading recommendations

If the bullish tone persists we expect a breakout of the level 1260 dollars per ounce.



Brent

General Overview

Black gold slightly declined amid the crude inventories report. According to the Kuwait business paper research, OPEC and non-OPEC countries kept their promise to reduce oil production only by 86% instead of promised 94%.

Current situation

The tone was negative in the oil market on Friday. The price reversed some losses in the night. Buyers returned the benchmark to 56.66 dollars per barrel where Brent caught fresh offers and moved lower. Sellers returned the price to 56.50 on European open and continued driving black gold lower during the day. Oil prices reached 56.00 ahead of the NY opening. According to 4 hours chart the price tested the 50 and 100 EMAs. The 50-EMA bounced off the 100-EMA upwards. The 50 and 100 EMAs pointed higher while 100-EMA turned neutral. The price was above the moving averages in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

A downtrend will start as soon, as the price drops below the support level 55.50 dollars per barrel.



DAX

General overview

European stocks dropped on Friday. Investors stayed focused on the earnings reports and political instability in Europe and the United States.

Current situation

The index gapped lower at the open on Friday. Sellers maintained control after the gap and pushed DAX lower. The index broke 11900 and 11800 in the mid-European session. The benchmark continued its slide afterwards and reached 11735 ahead of the NY opening. The price broke the 50-EMA and tested the 100-EMA in the 4 hours chart. The 50, 100 and 200 EMAs pointed higher in the same timeframe. The resistance exists at 11900, the support stands at 11800.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

After a daily close below the support at 11800 we could see the index extending its declines down to 11700.



NASDAQ

Current situation

NASDAQ turned bearish on Friday. The index was slowly declining in the night and accelerated its slide with European markets opening. Sellers drove the index to 5300 in the mid-European session. The benchmark tested the 50-EMA. The moving averages pointed higher in the in the 4 hours chart. The resistance is at 5340, the support comes in at 5300.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator lost upward strength and moved downwards.

Trading recommendations

The price eyes support at 5300 loss of which would trigger further weakness towards 5260.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

28.02.2017

Euro

General overview

According to the European commission research held on Monday, investors became more confident about the Eurozone, as it was expected in February. Industry confidence grew, while manufacturing expectations posted losses.

Current situation

After a sharp sell-off on Friday the euro seems to have found a strong support in the 1.0550 region. The level rejected the spot which managed to reverse a half of Friday's losses. European buyers continued pushing the price higher approaching the 1.0600 level in the first part of the day. The pair tested the 50-EMA in the 4 hours chart and stayed below the moving average. The 50-EMA turned upwards, 100-EMA kept heading lower, while 200-EMA was neutral in the same timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

MACD indicator was 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 remained within neutral territory.

Trading recommendations

EUR/USD awaits for the US data for fresh impetus. Meanwhile, any recovery is likely to be considered a good selling opportunity. A move below 1.0550 would revive bearishness towards 1.0500.



Pound

General overview

The pound dropped versus the majors following the news that the UK Government plans to hold a potential Scotland independence referendum. None of the officials commented on it, but even the rumor made the cable to drop down.

Current situation

Sellers lost strength on Friday after testing the 1.2400 level which rescued buyers once again. After touching the handle the price remained within its region in the night. European traders started to push the price higher in the early trades but did not advance much and returned to the support in the mid European session The price broke all the moving averages downwards and continued trading below them in the 4 hours chart. The 100 and the 50 EMAs were neutral while the 200-EMA maintained its bullish slope in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

After a daily close below 1.2400, GBP/USD will likely target the 1.2370 mark.



Yen

General overview

The dollar slightly recovered from two-week lows in Asian session on Monday. However, the US dollar lacked an upward impulse awaiting for Donald Trump's speech regarding his tax reform.

Current situation

After meeting a barrier at 112.00 the price bounced off the level. Buyers failed to advance far from the handle and stayed around it the fist part of the day. According to 4 hours chart the price continued developing well below the moving averages. The 50 and 200 EMAs maintained their bearish slope, while 100-EMA was neutral in the mentioned timeframe. The resistance is highlighted at 113.00, the support comes in at 112.00.

MACD remained at the same level which confirms the strength of sellers. RSI indicator was near undervalued territory, favoring a move higher.

Trading recommendations

The USD/JPY pair needs to regain at least the 113.00 zone to ease the immediate bearish pressure. Meanwhile we will sell until the spot is below the mentioned level.



NZD/USD

Current situation

After a sell-off on Friday the kiwi remained neutral on Monday morning. Sellers met a barrier at 0.7200 and were struggling hard to break it during the European hours. The price was sandwiched between 200-EMA and 50-EMA in the 4 hours chart. The 100-EMA kept heading lower and touched the 200-EMA which kept pointed higher while 50-EMA turned neutral in the same timeframe. The resistance is highlighted at 0.7200, the support comes in at 0.7150.

MACD decreased which indicates the buyers’ positions weakening. RSI was neutral.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 0.7150.



XAU/USD

Current situation

Gold opened the week inside of a consolidation zone after Friday’s rally. The upward impetus lost strength around 1260 dollars per ounce. Buyers gave up their recent gains and had to retreat on the back of profit-taking. Sellers drove the price lower and reached 1255 in the mid European session. According to 4 hours chart the price was above the moving averages which were all pointing higher. The resistance exists at 1260, the support stands at 1250 dollars per ounce.

MACD decreased which indicates the buyers’ positions weakening. The RSI indicator was near overvalued territory, favoring a move lower.

Trading recommendations

A close below the support at 1250 could see XAU/USD extend its declines down to 1240. Nevertheless, the upward structure remained in place. The lower limit of the upward channel lies around 1240. Buyers may find fresh bids around the level.
The 1260 is a big psychological level which means that we are bound to see some thick action around it.



Brent

General Overview

Oil prices recovered back to the eight week highs on Monday as investors are still confident that OPEC's output cuts would outweigh an increase in the United States crude inventories. Moreover, OPEC's efforts to hold the oil prices from falling were supported by the reports from China.

Current situation

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon. Traders pushed the price higher and pierced 56.50 in the mid-European session. After touching the level the upward trajectory lost its strength, the price bounced from the level and edged lower. The price tested the 200-EMA, rebounded upwards in the 4 hours chart. Brent broke 100-EMA and 50-EMA upwards afterwards. The 50-EMA and 200-EMA turned upwards, while 100-EMA was neutral in the same timeframe. The resistance lies at 56.50, the support comes in at 55.50 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 remained within neutral territory.

Trading recommendations

When we break the level 56.50 the support 55.50 comes back into play.



DAX

General overview

European stocks opened mixed on Monday following the inspiring reports of some companies and Intesa Sanpaolo rally. However, a sharp fall of London and Deutsche Stock Exchange limited stocks advance.

Current situation

DAX gapped higher at the open on Monday. Buyers failed to advance beyond the level and after posting the daily high at 11867 the price reversed its direction. Sellers retuned the price to 11800 filling the gap in the mid European session. The index rebounded from 100-EMA upward and tested 50-EMA in the 4 hours chart. The moving averages turned neutral in the mentioned timeframe. The resistance exists at 11900, the support stands at 11800.
s
The MACD histogram decreased which is a sell signal. RSI remained within neutral territory.

Trading recommendations

A sharp breakout above 11800 could spark a further incline towards 11700 in the coming sessions.



S&P500

General overview

Wall Street opened lower on Monday as investors waited for President Donald Trump’s speech to Congress. The president had to reveal his plans regarding taxes, trade and public investment.

Current situation

S&P500 posted fresh all-times high in the Asian session on Monday. Buyers managed to lead the price to 2370 where the upward momentum lost its legs. Bulls gave up their gains and stepped away. Sellers led the benchmark lower and erased all buyers’ gains. The 4 hours chart showed that the benchmark bounced off the 50-EMA upwards. The price remained above the moving averages which were all pointing higher in the same timeframe. The resistance is at 2380, the support comes in at 2360.

MACD decreased which indicates the buyers’ positions weakening. RSI oscillator stayed near overbought levels.

Trading recommendations

We maintain our positive outlook for the index. The ongoing decline is just a correction. The index may weaken to 2350 where the lower limit of the upward channel lies. A break lower will ease the upward pressure towards 2340. A failure here will return rally towards 2370, en route 2380.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

06.03.2017

Euro

General overview

Retail sales in the Eurozone fell for the third month in a row as inflation rate slowed down both consumer demand and economic growth. The Eurozone non-manufacturing PMI dropped, although no one expected any changes.

Current situation

The pair remained in a downward channel on Friday. After finding barrier at 1.0500 the spot pulled back. Buyers reversed some losses overnight and pushed the euro to the upper limit of the downward channel. The major was unmoved in the morning. A fresh buying impetus emerged in the late European session when the price rallied to 1.0550. The moving averages pointed lower in the 4 hours chart. The price continued developing well below the moving averages in the mentioned timeframe. The resistance is at 1.0550, the support comes in at 1.0500.

MACD grew which indicates the sellers’ positions weakening. RSI indicator was near undervalued territory, favoring a move higher.

Trading recommendations

After a close below the support at 1.0500 we could see EUR/USD extending its declines down to 1.0450. Meanwhile we expect some recovery based on profit-taking. The price may reach he upper limit of the downward channel in the coming sessions.



Pound

General overview

The pound refreshed its six-week lows against the dollar amid negative UK non-manufacturing PMI and increasing expectations of March interest rate hike in the USA.

Current situation

The pound extended its consolidation phase in the Asia session on Friday. The price traded range-bound-to lower in a narrow range of 50 pips. Sellers became more active in the European morning and moved the pound to 1.2200. According to the 4 hours timeframe the price continued developing well below the moving averages. 50 and 100-EMAs crossed the 200-EMA downwards. The moving averages pointed lower in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD decreased which confirms the strength of sellers. The RSI indicator held within oversold readings, and headed now south.

Trading recommendations

In the 4 hours chart, the technical picture favors a downward extension towards the level of 1.2200. The break of the last will open doors for more weakness towards 1.2150. Meanwhile we do not rule out a minor correction as the spot is heavily oversold. Buyers may lead the price to 1.2300 to ease some downward pressure.



Yen

General overview

Japanese inflation rate and labor market supported the yen. The dollar declined on Friday amid profit taking after the recent rally.

Current situation

The pair remained in an uptrend on Friday. The US dollar traded around its recent highs. Buyers obviously took a pause allowing sellers to reverse some losses. The major slightly eased during the night trades. Sellers returned the currency pair to 114.00 where the major opened the European session. A fresh buying interest lifted the price to 114.50 in the noon. The 4 hours chart showed that the price continued developing well above the moving averages. The 50 and 100 EMAs maintained their bullish slope while the 200-EMA was neutral in the mentioned timeframe. The resistance is highlighted at 115.00, the support comes in at 114.00.

MACD decreased which indicates the buyers’ positions weakening. RSI indicator was near overvalued territory.

Trading recommendations

The nearest target remains the resistance level of 115.00. Inability to post fresh highs may cause some profit taking towards 114.00.



USD/CAD

General overview

The dollar slightly changed on Friday staying near seven-week highs against other majors. The increasing probability of the U.S. rate hike this month supported the dollar. The Janet Yellen’s testimony came into focus.

Current situation

The US dollar extended its winning steak on Friday. The major opened green and was able to post fresh highs at the European opening. After an Asian flat buyers became more active in the morning. They pushed the price higher and broke 1.3400. The USD/CAD pair maintained its bid tone afterwards conquering fresh highs. The price continued developing well above the moving averages in the 4 hours chart. The 50 and 100-EMAs crossed the 200-EMA upwards. The moving averages maintained their bullish slope in the same timeframe. The resistance is highlighted 1.3470, the support comes in at 1.3400.

The MACD histogram grew which is a buy signal. RSI consolidated within positive territory.

Trading recommendations

If buyers remain in the driver’s seat the next level to focus on is 1.3470. Conversely, the US dollar may retreat to the 1.3330 region.



XAU/USD

General overview

Gold prices continued falling amid the growing expectation of the US rate hike and the dollar's growth.

Current situation

The technical picture presented a slightly bearish ton on Friday. Gold opened in red and continued losing ground afterwards. Sellers tested 1230 in the late Asian session. The handle shortly slowed down sellers. However, the spot accelerated its losses during European morning trade. Sellers broke the level and reached 1225 dollars per ounce afterwards. According to 4 hours chart the price crossed the 50 and 100-EMAs downwards and touched the 200-EMA. The 50 and 100-EMA s turned lower while the 200-EMA was neutral in the same chart. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

The MACD histogram decreased which indicates the sellers’ strength. The RSI indicator was holding near oversold levels, favoring a new move lower.

Trading recommendations

Should the gold recover ground and advance beyond the 1230 level, the rally can extend in the short term up to 1240 dollars per ounce.



Brent

General Overview

Oil prices slightly rose on Friday morning due to the dollar's retreatment. However, Brent further growth was limited on the news that Russian oil production for February did change comparing to January.

Current situation

Brent found a solid support after two day decline. The mark 55.00 stopped sellers rejecting prices upwards in the night session. The ongoing recovery could be attributed to some profit taking from bears following recent sell-off. The price was slowly recovering in the night and accelerated its growth in the morning. According to 4 hours chart the price continued developing well below the moving averages. The 50-EMA maintained its bearish slope while the 100 and 200 EMAs turned neutral in the same chart. The resistance lies at 55.50, the support comes in at 54.50 dollars per barrel.

MACD entered the negative area. If MACD remains in the negative territory, sellers’ positions will strengthen. The RSI indicator was near undervalued territory.

Trading recommendations

A recovery above the level of 55.50 will favor an advance up to the 56.50 region.



DAX

General overview

European stocks opened in red amid the weak earnings reports including the one of the world's largest advertising holding WPP and a protective clothing manufacturer Berendsen.

Current situation

DAX gapped lower at the open. The price jumped to 12000 where it stayed in the morning. An upward impetus sent the price upward filling the gap in the late European session. According to 4 hours chart the price continued developing well above the moving averages. The moving averages pointed higher in the mentioned timeframe. The resistance exists at 12100, the support stands at 12000.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

A sharp breakout below 12000 could spark a further decline towards 11950.



S&P500

General overview

Wall Street was down at the open on Friday ahead of Fed Chair Janet Yellen's speech.

Current situation

S&P500 had a negative start to the day. The price opened around 2380 and headed lower. Sellers were driving the price lower the night and finally stopped at 2375 where the index stayed the first part of the day. The 4 hours chart showed that the index was above the moving averages which were all pointing higher. The resistance is at 2380, the support comes in at 2360.

The MACD histogram decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

A move below 2380 would revive bearishness towards 2360. However, we do not believe much in this scenario. The upward channel structure is still intact. The price was close to its lower boundary. That’s why we expect a rebound here and a return to 2400.




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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

07.03.2017

Euro

General overview

The euro rose amid the US dollar retracement as investors were taking profit after last week rally. The US dollar strengthened amid the expectations of the rate hike on the Fed meeting on the 14-15 March. The presidential elections in France are still in focus.

Current situation

The pair remained in a descending channel on Monday. Inability to break below 1.0500 returned some buying interest pushing the spot higher. Moreover, a soft tone around the US dollar opened the doors for the current euro recovery. The single European currency rallied through several levels until it reached the upper limit of the range around 1.0650. The hurdle stopped bulls for now who seem to have started a consolidation phase. A wave of fresh selling pressure emerged in the late European session driving the major below 1.0600 to 1.0580. According to 4 hours chart the euro tested the 100-EMA in the first part of the day. The 50-EMA kept heading higher, the 100-EMA turned downwards while the 200-EMA remained mild bearish in the same timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

The histogram declined which is a sell signal. RSI oscillator stayed near overbought levels, favoring a move lower.

Trading recommendations

When we stay below the level 1.0600 the support 1.0550 will come back into play.



Pound

General overview

The market was low volatile on Monday amid an empty macroeconomic calendar. However, the pound remained weak against the dollar following the investors' optimism of the rate hike at the March meeting.

Current situation

The pair presented a modest bearish tone on Monday. The pound was able to recover up to 1.2300 last week which appeared to be a tough nut to break. The level stopped bulls and after a night flat the cable came under renewed selling pressure during the European morning trade. Bears tightened their grip and pushed the price lower away from the 1.2300 resistance. The spot had reached 1.2250 by the NY opening. The 4 hours chart showed that the price continued developing well below its moving averages. The 50 and 100 EMAs maintained their bearish slope while the 200-EMA was neutral in the same chart. The resistance lies at 1.2300, the support comes in at 1.2200.

MACD grew which indicates the sellers’ positions weakening. RSI indicator was near undervalued territory, favoring a new move lower.

Trading recommendations

We believe the pair will remain in red figures. All eyes are right now at the support level 1.2200.



Yen

General overview

North Korea had set up rockets to the Japan’s Exclusive Economic Zone. This action hiked anxiety level in geopolitical environment making investors buy yen to escape the risk.

Current situation

The USD/JPY opened bearish on Monday. The pair headed lower in the Asian session and continued losing ground in the European morning. Sellers reached 113.80 first and after a brief pause continued moving the major lower and reached 113.60 in the late European session. The price remained above the moving averages in the 4 hours chart. The 100-EMA touched the 200-EMA and turned neutral. The 200-EMA also was neutral while the 50-EMA turned upwards in the mentioned timeframe. The resistance is highlighted at 114.00, the support comes in at 113.00.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards.

Trading recommendations

The USD/JPY pair is likely to maintain its sell tone in the short term. The 113.50 area stopped sellers to move lower for now. A cut through the mark will turn attention to the 113.00 level.



AUD/USD

General overview

According to the Australian Bureau of statistics, retail sales for January slightly grew. However, household spending growth increased concerns of the RBA. The Reserve Bank of Australia meeting minutes will be released on Tuesday. Analysts are expecting the regulator to leave the interest rate unchanged at 1.5%.

Current situation

After a sharp sell-off on Friday buyers found fresh strength to recover some gains on Monday. The 0.7550 handle stopped sellers' advance rejecting the spot afterwards. The AUD was recovering the whole night and extended its recovery in the European session. Buyers accelerated their advance in the morning and tested 0.7600 in the late European session. The pair lacked upward momentum in the noon
and had to pause choosing the right direction. According to 4 hours chart the major stayed below the moving averages. The 50-EMA kept pointed lower, the 100-EMA and 200-EMAs turned neutral in the same timeframe. The resistance is highlighted 0.7600, the support comes in at 0.7550.

MACD grew which indicates the sellers’ positions weakening. RSI moved north which confirms the current upward momentum.

Trading recommendations

The AUD is likely to extend its weakness in the short-term. If the spot stays below 0.7600 the AUD/USD pair may extend its bearishness to 0.7550. Alternatively, the 0.7600 resistance will need to be retested for support before a price can rally towards 0.7650.



XAU/USD

General overview

Gold prices traded in green on Monday amid the increased demand for risky assets following the news about the launch of four North Korean ballistic missiles.

Current situation

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining the night and the morning and reached 1230 in the noon. The 4 hours chart showed that the price bounced off the 200-EMA upwards and then was sandwiched between this moving average and the 100-EMA. The moving averages were neutral in the same timeframe. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

MACD grew which indicates the sellers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

A break below 1230 would open the way to 1220 dollars per ounce.



Brent

General Overview

Investors' concerns about the economic growth in China weighed on crude oil futures on Monday. Traders are waiting for the Fed's rate hike next week, which pressuring oil futures amid the dollar growth. Traders are also awaiting weekly reports on US crude inventories on Tuesday and Wednesday.

Current situation

Brent opened red on Monday. Sellers were leading the benchmark downwards and managed to pierce 55.50 in the late Asian session. However, bears failed to reclaim the level and the price returned above the tested handle. The pressure remained intact afterwards holding the spot around the support level. The price tested the 200-EMA and bounced off downwards in the 4 hours timeframe. The 50-EMA touched the 100-EMA. The 50-EMA kept pointed lower while the 100-EMA and the 200-EMA were neutral in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD formed signal to rise. The RSI oscillator consolidated within neutral area.

Trading recommendations

We expect to see renewed bullish pressure in the upcoming sessions. The main buyers’ goal is the level at 56.50 dollars per barrel.



DAX

General overview

European stocks fell on Monday following mining shares decline amid concerns on the China's economic growth weakening and the possible Fed rate hike.

Current situation

DAX gapped lower at the weekly open. The index jumped over 12000 and reached 11922 in the late European trades. The benchmark found fresh bids around the level lately the day and bounced off it. DAX returned to the opening prices afterwards and remained there the first part of the day. The 4 hours chart showed that the index tested the 50-EMA. The price was above the moving averages which were all pointing higher. The resistance exists at 12000, the support stands at 11900.

MACD decreased which indicates the buyers’ positions weakening. The RSI oscillator moved downwards.

Trading recommendations

A move below 11900 will confirm the presence of sellers. DAX may ease further and reach 11850 afterwards.



NASDAQ

Current situation

The overall picture remained unchanged on Monday. The benchmark stayed in a sideways channel trading in a tight range the first part of the day. The index gapped downwards and reached the lower limit of the range at the daily open. Sellers failed to extend their gains after the gap being only able to reach the mark 5347. The mark rejected NASDAQ upwards which returned to the opening prices in the European morning. According to 4 hours chart the benchmark tested the 50-EMA downwards and remained above the moving averages. The 50-EMA was neutral while the 100 and 200 EMAs maintained their bullish slope in the same timeframe. The resistance is at 5380, the support comes in at 5340.

The MACD histogram decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

A break below the level of 5340 might force the index to resume its downward trajectory towards 5300.



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

[ValdisTF]

"Fort Financial Services"- fundamental and technical analysis.

08.03.2017

Euro

General overview

The euro did not react to weak Factory Orders in Germany. Meanwhile, the single European currency remained under pressure amid uncertainty around the Presidential elections in France. The possible Fed rate hike weighed on the euro as well.

Current situation

The undertone for Euro was clearly negative on Tuesday. The price was slowly growing in the night session and accelerated its recovery in the morning. Buyers tested 1.0600 in the European morning and were struggling with the level afterwards. However, the upward impetus lost its strength in the late European session. The price pushed away from the level 1.0600 and headed lower erasing buyers’ night gains. The pair broke the 100-EMA downwards and tested the 50-EMA afterwards in the 4 hours chart. The 50 and 100 EMAs were neutral while the 200-EMA kept heading lower in the same timeframe. The resistance is at 1.0600, the support comes in at 1.0550.

The MACD histogram declined which indicates buyers’ strength weakening. RSI moved south which confirms the current downward momentum.

Trading recommendations

We believe the EUR/USD pair will continue moving lower. A daily close below 1.0550 would risk 1.0500.



Pound

General overview

The pound remained under pressure as the market was rather concerned about the USA plans to react to North Korean latest actions. Besides, traders waited for House of Lords final decision on Article 50.

Current situation

The pound remained under pressure due to the bid sentiment around the dollar. The overnight’s recovery attempt stalled around the 1.2250 mark. Bears regained control in the late Asian session and drove the major lower. European sellers continued to grind the spot towards 1.2200 and touched the level post London open. According to 4 hours chart the major was below the moving averages which were all pointing lower. The resistance lies at 1.2300, the support comes in at 1.2200.

The MACD histogram decreased which is a sell signal. RSI indicator was near undervalued territory, favoring a new move lower.

Trading recommendations

The short term picture favors the downside. A close below 1.2200 will trigger losses towards 1.2100.



Yen

General overview

The US dollar grew on strong hopes that the Fed will hike its rate this month. All eyes are on BoJ's GDP report which is expected with upbeat figures.

Current situation

The USD/JPY maintained its consolidation phase in the early trades on Tuesday. The major preserved its neutral-to-bearish stance and traded in a tight range fluctuating between 114.00 and 113.80. About of fresh buying interest emerged in the late European session. Buyers moved the price upwards and struggled with 114.00 level. The 4 hours chart showed that the spot remained above the moving averages. The 100-EMA crossed the 200-EMA upwards. The 50-EMA maintained its bullish slope while the 100 and 200 EMAs were neutral in the mentioned chart. The resistance is highlighted at 114.00, the support comes in at 113.00.

The MACD histogram grew which is a buy signal. RSI was neutral to bullish.

Trading recommendations

Once we break above the 114.00 level, we think that the 115.00 level will be next.



NZD/USD

General overview

Investors’ attention now turns to Global Dairy Trade (GDT) in London. Milk price is likely might decrease by 7%-9% which might affect the NZD as the national currency highly depend on the milk production.

Current situation

The market sentiment remained negative on Tuesday. The NZD opened on a stronger note around 0.6980. Buyers managed to lift the major to 0.7015 where the upward trajectory stalled. Sellers seized control and returned the Kiwi to the opening prices erasing all its early trades. The pair maintained its gloomy trend afterwards heading towards 0.6950. According to 4 hours chart the currency pair continued developing well below the moving averages which were all pointing lower. The resistance is highlighted 0.7000, the support comes in at 0.6950.

MACD decreased which confirms the strength of sellers. RSI indicator was near undervalued territory, favoring a new move lower.

Trading recommendations

The NZD is likely to remain well offered in the short-term. A further extension to 0.6950 is not ruled out.



XAU/USD

General overview

Growing confidence around Fed rate hike action kept weighing on the yellow metal holding the spot around three week lows.

Current situation

Gold maintained the ask tone on Tuesday. After a sharp sell-off on Monday sellers stepped away giving the way to buyers in the night session. However, the last did not hurry to take control preferring to wait for fresh market movers. Thus, the price was trading in a directionless mode around 1225 the first part of the day. Sellers returned in the noon and drove the precious metal towards 1220 dollars per ounce. The price broke the 200-EMA in the 4 hours chart. The 100 and 200 EMAs were neutral while the 50-EMA turned lower in the mentioned timeframe. The resistance exists at 1230, the support stands at 1220 dollars per ounce.

MACD traded to the downside. The RSI indicator was holding near oversold levels.

Trading recommendations

After a daily close below 1220 dollars per ounce we could see the XAU/USD pair extending down to the 1210 region during the next sessions.



Brent

General Overview

Brent traded flat on Tuesday as investors were assessing prospect of production cuts against the US drilling activity growth.

Current situation

Brent traded mixed the first part of the day. The bearish momentum persisted in the night. The price slightly eased during the Asian session. Bulls regained control in the morning and pushed the price higher. After posting a daily low at 55.74 the benchmark erased all its losses in the morning and reached 56.20 in the noon. The 4 hours chart showed that the black gold bounced off the 200-EMA upwards and tested the 50 and 100 EMAs. The 50-EMA crossed the 100-EMA downwards. The 50 and 100 EMAs were neutral while the 200-EMA turned upwards in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

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

Trading recommendations

A close above 56.50 will generate fresh bullish signal for further advance, which could extend to the level of 57.00 dollars per barrel.



DAX

General overview

European stocks were mostly unchanged on Tuesday. The main point of focus this week is the ECB meeting on Thursday.

Current situation

DAX remained in an upward channel on Tuesday. Sellers led the price to its lower limit but failed to continue its advance afterwards. The price bounced off 11900 and reversed almost all early losses. The benchmark tried to extend the recovery in the morning on Tuesday but did not succeed staying around the opening prices the first part of the day. According to 4 hours chart the price tested the 50-EMA and hovered above it afterwards. The price continued developing well above the moving averages. The moving averages maintained their bullish slope in the mentioned timeframe. The resistance exists at 12000, the support stands at 11900.

MACD decreased which indicates the buyers’ positions weakening. RSI remained within neutral territory.

Trading recommendations

After breaking 11950 the level of 11900 will come back to the radar.



S&P500

Current situation

After a night sharp drop the index traded sideways during the European hours. The price was going up and down in a tight range fluctuating between 2370 and 2375. The price tested the 50-EMA but could not move lower in the 4 hours chart. S&P500 was above the moving averages which were all pointing higher in the same chart. The resistance is at 2380, the support comes in at 2360.

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

Trading recommendations

A cut below the 2380 mark will aim sellers at the 2360 level.



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