2 July, 2015
During the last 2 days, the pair GBP/USD fell by more than 150 points to the level of 1.5600. However, investors may soon get interested in the pair again and that would lead to its volatility increase.
A prerequisite to it is the richness of today’s economic calendar. PMI Construction data in the UK is due at 11:30 am (GMT +3) and if the figure matches its forecasts that would strengthen the GBP. Latest data from the US Department of Labor is due at 3:30 pm (GMT +3) and the forecasts are rather negative for the USD.
Thus, the likeliest direction of the pair is upwards.
Support and resistance
On the chart, the Bollinger bands are widening. Yesterday the pair was trading below the lower band but returned inside since and is now trading above the bottom MA. The picture can be interpreted as the formation of the upward trend before long, which is supported by the fundamental analysis.
The nearest resistance level is at 1.5690 (middle MA of Bollinger Bands).
Support level: 1.5590 (bottom MA of Bollinger Bands).
Open long positions above 1.5620 and switch trailing stop on after 1.5690. Opposite movement is unlikely today and thus is not considered.
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%|