16 January, 2014
Since the beginning of this year the pair EUR/USD has traded in the wide channel of 1.3700-1.3580. The pair has made several unsuccessful attempts to break down key support level of 1.3580 amid weak data in EU inflation. In addition, the rise in the USD, which followed after the release of positive labour market statistics and favourable inflation report, has given a chance to the US Fed leaders to reduce volume of asset purchase. Today, EU consumer price index and monthly economic report will be released. The US labour market data, manufacturing PMI and consumer price index will also become known.
Support and resistance
In the medium-term European currency will continue to decline against the USD. At the end of February (beginning of March) Euro is likely to fall to key support level of 1.3300 or 50% Fibonacci line.
Support levels: 1.3580, 1.3520, 1.3400 and 1.3300.
Resistance levels: 1.3650, 1.3700, 1.3800 and 1.3830.
It is recommended to place short positions with profit taking at the levels of 1.3400 and 1.3300. Pending sell orders can be placed at the level of 1.3700.
Analyst of LiteForex Group of Companies
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...
|8||Fort Financial Services||67%|