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Fort Financial Services - a licensed international Forex broker. 500+ tradable contracts with direct access to world exchanges; diverse trading platforms; copytrading services; investment and partnership programs.

Mini summary of the day 03.06.211. Pound opposes the onslaught of the dollar2. Corrective decline in oil pricesThe US do...
03/06/2021

Mini summary of the day 03.06.21

1. Pound opposes the onslaught of the dollar
2. Corrective decline in oil prices

The US dollar dominated the foreign exchange market in the morning. Statements by Philadelphia FRB chief Patrick Harker that Federal Reserve should begin discussions on curtailing the asset buyback program supported the dollar. But many investors remain cautious ahead of the release of important labor market data on Friday. This report could change investors' expectations of further Fed plans.

💷 Among currencies G7 only the pound is now trading in the Green Zone against the dollar. Support for the Briton was provided by unexpectedly strong data on the PMI of the service sector. In May, the index was 62.9 points against the forecast of 61.8. Data indicate an increase in activity in the UK's key sector of the economy amid easing quarantine restrictions.
On the chart, the currency pair continues to trade in a wide horizontal channel 1.4110-1.4235. As part of the sideways, today we can expect the development of a moderate downward movement from level 1.4190 to mark 1.4110.

🛢 The divergent movement today is demonstrated by oil prices. Brent and WTI ended trading in Asia in the Green Zone. Investors responded to data from API on the reduction of inventory for the week by more than 5 million barrels.

At the European session, bulls lost all advantage amid a significant decrease in risk appetite. The main stock indices went into the red trading zone. Oil is also among the risk assets, so many investors preferred to fix long positions at new multi-month highs.

Later in the United States, fresh EIA data on oil and petroleum products reserves will be published. On the chart, the price fell to 69.00. From the current levels, we can expect the development of a rollback movement in the direction of level 67.70. In the medium term, the bullish trend remains relevant, so rolling back movements should be considered as a good opportunity to enter the market at a good price. Entry points should be searched in the area of the indicated support levels.

💹 Daily News - Stocks under moderate pressure 1️⃣ There are growing concerns about inflation in the market2️⃣ Australia'...
03/06/2021

💹 Daily News - Stocks under moderate pressure

1️⃣ There are growing concerns about inflation in the market
2️⃣ Australia's economy is recovering to pre-crisis levels
3️⃣ The dollar is trading stable

News to watch out for today:
15:00 GMT. Great Britain: speech by the Governor of the Bank of England Andrew Bailey
17:10 GMT. EU: speech by the head of the ECB Christine Lagarde

👉 Read more
https://www.fortfs.com/analytics/fundamental

🗒 Mini-summary for the day 02.06.211. Euro reduction2. Rising oil pricesThe foreign exchange market on Wednesday demonst...
02/06/2021

🗒 Mini-summary for the day 02.06.21

1. Euro reduction
2. Rising oil prices

The foreign exchange market on Wednesday demonstrates good dynamics of movement. In the morning, the trend towards strengthening the dollar against its main competitors prevailed. Apparently, investors continue to win back macroeconomic statistics from the United States published on Tuesday.

Bank of America analysts released interesting observations that the US dollar in the first week of June, as a rule, is growing against most other major currencies, and in the last week of the month it is declining.

💶 EUR/USD today updated the current trading week minimum. The European currency was pressured by weak retail sales data from Germany. In April, sales decreased by 5.5% compared to March. Experts predicted a decrease in the indicator by 2.0%. At the end of the European session, the EUR/USD currency pair began to recover losses, as the dollar also remains vulnerable to the publication of US labor market data. Some experts believe that the labor market report, which will be released on Friday, is unlikely to support the US currency.

On the chart, the currency pair tested support at 1.2175. This is a fairly strong level, so from current positions you can expect the development of a moderate upward movement with the nearest goal at 1.2210.

📈 The positive dynamics of the movement today are demonstrated by oil prices. Investors welcomed OPEC+'s cautious approach to increasing oil production and reports of a slow pace of negotiations on the Iranian nuclear program.

The OPEC+ meeting lasted only 20 minutes, which was the shortest meeting in the history of the group, which indicates the unity of its members and their confidence in restoring the market.

On the chart, buyers were able to keep the Brent price above support by 70.50. In the medium term, we are waiting for the continuation of the upward movement with targets in the area of level 72.00.

🗒 Mini-summary for the day 01.06.211. New GBP/USD 3-year high2. Rising oil prices3. Silver trades at current year's high...
01/06/2021

🗒 Mini-summary for the day 01.06.21

1. New GBP/USD 3-year high
2. Rising oil prices
3. Silver trades at current year's highs

The main currency pairs on Tuesday show multi-directional trading. Investors cannot decide on the priority direction of movement before the publication of important statistics in the United States.

🔥 The most interesting trades today are held on GBP/USD. In Asia, the currency pair has set a new maximum trading since April 2018! The driver for the growth of quotes was statements by the Bank of England that a further increase in house prices could increase inflationary pressure. To curb inflation, the regulator can raise the interest rate.

The pound could not hold on to long-term highs. Amid the strengthening of the dollar during the European trading session, GBP/USD fell to Monday lows.
On the chart, the correction wave approaches the first serious level of support - 1.4155. From this mark you can expect to resume upward movement and retest resistance by 1.4235.

Very interesting trading today takes place on the commodity market. Before the OPEC + meeting, oil prices show good growth dynamics. The price of WTI increased by more than 3%. The cost of Brent rose by more than 2.3%. Investors are responding to news from the United States, where there is a sharp increase in fuel demand with the beginning of the summer season. According to GasBuddy, last Sunday, gasoline demand grew by 9.6% compared to the average for the previous four Sundays.

📈 The chart continues to develop a strong bullish trend. In the medium term, we can expect an increase in WTI quotes by 69.00. The problem is that buying a tool at current prices is very risky. The price can roll back very much after the OPEC + meeting. Therefore, entry points to long positions are worth looking for on a price rollback by 66.90 and 65.50.

✅ In the precious metals market, silver demonstrates the best volatility today. The price updated the 5-day maximum of trading and today shows an increase of more than 1.4%. Investors are responding to the release of strong manufacturing sector PMI data from China, anticipating a recovery in physical demand for silver and other commodity assets.

On the chart, the price broke resistance at 28.25. In the medium term, quotations can be expected to rise further towards level 28.65. Long positions can be considered at rollback around levels 27.90 and 27.40.

💳 10-50% Deposit BonusDo you want to trade in large volumes, but do not have your own funds?Not a problem - use our depo...
01/06/2021

💳 10-50% Deposit Bonus

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Not a problem - use our deposit bonus and increase your account balance by up to +50%!

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- From +10% to +50% of bonus funds to the deposit
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- Available on cent accounts

Getting the bonus is very easy:
1) Follow the link below
2) Choose a convenient payment system
3) Click on Deposit bonus (10% -50%) and select the desired amount

💥 Hurry up and get the bonus while it's still available:
https://bit.ly/34ExBHn

🌐 Fundamental analyticsGBP/USDThe main scenario is a decline from current levels to 1.4195.EUR/USDThe main scenario is a...
01/06/2021

🌐 Fundamental analytics

GBP/USD
The main scenario is a decline from current levels to 1.4195.

EUR/USD
The main scenario is an increase to 1.2250 and a downward reversal.

👉 Read more
https://www.fortfs.com/analytics/fundamental

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