› Market review, September 25 - 29, 2017

Market review, September 25 - 29, 2017

Apple

Previous week was unfavorable for Apple stocks.
All week through technological giant showed negative results.
Iphone 8 sales start did not save situation, and some analysts believe that the demand for the novelty will be not that high as for previous 2 models.
This point of view is confirmed by fairly small lines in Apple stores.
Perhaps the buyers are already fed up with this product, especially since nothing revolutionary has been provided by the company, so buyers want to wait a month till Iphone X is launched.
Anyway, we believe that in the long term we expect growth of Apple company stocks.
In the short term sale positions for this asset look more attractive.


Market review, September 25 - 29, 2017


GBP

Friday, September 22nd brought a lot of important events and, one of them is the speech of the British Prime Minister.
From Theresa May speech, we expected concrete plans and decisions regarding the future of Great Britain and further steps aimed at "divorce" with the European Union - Brexit.
But, in her speech, the leader of the British government used already familiar rhetoric, which did not give anything specific.
And after the wave of volatility, the British currency resumed unhurried growth and until the end of the day was trading in a rather narrow corridor.
In our forecast for the week, we anticipate the end of the pound's upward movement, and the corrective move to lower levels of support.


Market review, September 25 - 29, 2017


Gold

Kim Jong-un, probably, is the most eccentric and well-known dictator in the world, and his indecisiveness and desire to demonstrate the "power" of his state affects the economy of the whole world.
We have repeatedly written about the impact of tension between North Korea and other countries on the growth of the price of “safe haven” assets - and this time will not be an exception.
Gold began the week with a decline and on Thursday September 21 reached the lowest price for 4 weeks.
But a new wave of threats from North Korea increased demand for precious metal and on Friday it showed steady growth.
In addition, the aforementioned monthly minimum at $ 1.1290 is a strong support line, which will be difficult to overcome.
Therefore, the most likely scenario is the upward movement in the price of yellow metal to levels of $ 1.1306, $ 1.1320 and $ 1.1330.


Market review, September 25 - 29, 2017


EUR / USD

Last week was full with a fundamental factor.
The FOMC meeting supported the US dollar.
After a positive assessment of the development of the US economy, and further positive views on economy tightening via interest rates hike.
This led market in an instant change of mood and short positions to support dollar were opened.
But after the rapid strengthening of the dollar, the price broke through the key level 1.1900 and stumbled upon a strong 1.1850 level from which there was a rapid rollback almost to the beginning of its movement.
From the point of view of technical analysis, the price stays in the corridor, and one should pay attention to the fundamental factors that the market has recently was oversaturated with.


Market review, September 25 - 29, 2017



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