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Message: [QUOTE="Fort Financial Services, post: 87984, member: 31380"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [color=#0000cc][b]13.08.2015[/b][/color] [i][color=#ff6600][b]Fundamental analysis[/b][/color][/i] [i]The China Central Bank's decision was the main event that devalued the yuan. The US currency strengthened against all the major opponents in the light of this, still it was not able to keep the leading position. The message that Greeks have reached an agreement with creditors and will receive assistance in the framework of the regular lending program caused European majors quite full-scale purchases which led to the US dollar decline against the euro to the end of the session and in the dispute with the pound. The China’s decision to devalue the yuan has put pressure on the pound as it was considered it would be able to strengthen the disinflation pressure in the UK and to extend the low inflation period in the United Kingdom which leads to the raising rates transfer at a later date. The measures taken by China have put pressure on the Japanese currency as well. Another reason to sell the yen was the Japan Prime Minister advisors E. Honda’s statements who said that if the expected GDP data pointed to the sharp decline in the second quarter there would be a need to deploy a new fiscal stimulus.[/i] [img]http://savepic.net/7131045.jpg[/img] [color=#ff6600][i][b]Technical analysis[/b][/i][/color] [color=#00cc00][u][b]Euro (EUR)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] According to the Bank of France, the France payments balance current account surplus has grown for June due to the foreign trade deficit reduction. The payments balance current account surplus amounted to 1 billion euro against 200 million euro in May. The trade deficit fell to 1 billion euro from 1.7 billion euro in June. The euro managed to break through above the key resistance level of 1.1050. Due to this resistance breakthrough, buyers got the way to the strong resistance level of 1.1150 that was also broken. The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450. There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud. The MACD indicator is in a positive territory. The price is growing. [color=#0000cc][b]Trading recommendations[/b][/color] The potential growth targets are the resistance levels: 1.1260, 1.1450. [img]http://savepic.net/7115685.jpg[/img] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0000cc][b]General overview[/b][/color] Taking into account bonuses, the UK average wage fell to 2.4% in June against the earlier 3.2%, but it was expected a decline to 2.8%. The number of jobless claims further declined than expected: -4.9K vs. 1.5K. The debate figure was revised downwards from 7.0K to 0.2K. The unemployment rate has not changed and confirmed the forecasts - 5.6%. Buyers corrected the price to the level of 1.5610 on the low volumes. It was expected the given level testing but bulls did not test it. The price is finding the first support at 1.5550, the next one is 1.5460. The price is finding the first resistance at 1.5670, the next one is 1.5775. There is a confirmed and a strong buy signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud. The MACD histogram is in a positive territory. The price is growing. [color=#0000cc][b]Trading recommendations[/b][/color] If the price fixates above the resistance 1.5670, it may continue the upward trend in the short term. The potential targets are 1.5775 and 1.5950. [img]http://savepic.net/7088037.jpg[/img] [color=#00cc00][u][b]Yen (JPY)[/b][/u][/color] [color=#0000cc][b]General overview[/b][/color] The Japan monetary policy meeting minutes were published in the Asian session on Tuesday. We received the industrial production positive results, the industrial production volume increased to 1.1% m/m which is higher than the growth expectations up to 0.8%. The service sector business activity index came out better than expected: 0.3% m/m against the growth expectations up to 0.1% m/m while the index was -0.7% m/m last month. The price consolidated above the support level of 124.30. However the pair fell below this level amid the weakened dollar. Now the mark of 124.30 is playing the role of a strong resistance. The price is finding the first support at 123.50, the next one is at 122.40. The price is finding the first resistance at 124.30, the next one is at 125.50. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The MACD indicator is in a neutral territory. The price is decreasing. [color=#0000cc][b]Trading recommendations[/b][/color] We believe the decrease will be continued now. The first target is the level 123.50. the next target is the level of 122.40. [img]http://savepic.net/7092133.jpg[/img] [i][b]*Analytical review is presented by the leading analyst of the broker Fort Financial Services, [color=#0099cc]Alexander Kofman.[/color][/b][/i] [/QUOTE]

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