Fort Financial Services - Analytics

    Fort Financial Services

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    EUR/USD (a 4-hour chart)

    EUR/USD (a 4-hour chart)

    General overview

    The dollar strengthened against the euro after the US Federal Reserve meeting results publication. The jobless claims have unexpectedly grown to the seasonally adjusted 9,000 in Germany in July, it was reported a decline by 1000 in June, economists expected the unemployment decline by 5000 in July, and however, the labor market remains one of the strongest in the euro area. There was the second quarter US GDP report published. Investors focused their attention to the data that indicate the US jobless claims number.

    The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150.

    There is a weak sell signal. The price is below the Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. If the price get below the Cloud we may get a sell signal.

    The MACD indicator is in a negative territory. The MACD is declining.

    Trading recommendations

    We believe in pair’s decrease. The first target 1.0925 is reached. The next one is 1.0790.

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