VarengoldbankFX Daily FX Report_20160513.pdf

8/17/2019 VarengoldbankFX Daily FX Report_20160513.pdf

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www.varengoldbankfx.com – Promotional Document

Friday, May 13, 2016

Good morning from Hamburg and welcome to our last Daily FX Report in this week. The UnitedStates switched on an $800 million missile shield in Romania on Thursday that it sees as vital to

defend itself and Europe from so-called rogue states but the Kremlin says is aimed at blunting its

own nuclear arsenal. Russia is incensed at such of show of force by its Cold War rival in formerly

communist-ruled eastern Europe. Moscow says the U.S.-led alliance is trying to encircle it close

to the strategically important Black Sea, home to a Russian naval fleet and where NATO is also

considering increasing patrols. Russian President Vladimir Putin's office said Moscow also

doubted NATO's stated aim of protecting the alliance against Iranian rockets following the

historic nuclear deal with Tehran and world powers last year that Russia helped to negotiate.

Anyway, we wish you a successful trading day!

Market Review – Fundamental Perspective

Apple Inc, a mainstay in many portfolios, was the heaviest drag on the three major indexes,

slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about slowing

demand for iPhones. The S&P 500 and Dow Jones swerved between gains and losses before

ending virtually flat. Up 0.90 percent, Microsoft was the largest upward force in the S&P 500. A

rally in the S&P 500 from its February lows petered out in the last two weeks amid

underwhelming corporate reports and economic data that clouded the path of interest rate

increases this year. The index is now up about 1 percent in 2016. On Thursday, two U.S. Federal

Reserve officials said the central bank should raise rates if data points to an improving economy.

Concerns about the global economy persist and investors are responding to diverging policies

between the Federal Reserve and other major central banks. bThe yen fell 0.6 percent against

the dollar, pressured by speculation the Bank of Japan could expand its monetary stimulus as

soon as next month. Oil prices gained in a volatile session as investors weighed a forecast for

tighter global supplies against signs of another storage build at the hub for U.S. crude futures.

U.S. crude's WTI settled up 1 percent at $46.70. It hit a six-month high of $47.02 earlier. Oil

prices have recovered some ground after touching 12-year lows earlier in 2016. The number of

Americans filing for unemployment benefits rose last week to a more than one-year high, but

economists blamed striking telecommunications workers for the surge and said the data did not

signal a deterioration in the overall labor market.

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Daily Technical Analysis

EUR/GBP (Daily)

Since November 2015 this currency pair is experiencing a strong control of the bulls as it is

rising along an upward Fibonacci fan. Recently it could break the first support line (38.2). The

resistance line around 0.7899 was broken as well as the level of 0.804. There doesn’t seem to

be a reliable resistance for the moment. Nevertheless looking at the Stochastic one can see that

it moves above the Center line, signaling that some losses might be possible.

Support & Resistance (Daily)

Support Levels around Resistance Levels around

0.7831 N/A

0.7706 N/A

0.6982 N/A



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CBOT.YM (Daily)

Looking long term the main American index Dow Jones it is recovering since October 2013. It

was moving inside an upward trend channel, although there were some short term break-outs.

There was a sharp fall till the support at 15785. Since then the bulls dominate. The RSI is

signaling the index is moving slightly down currently, as well as the Momentum.

Support & Resistance (Daily)


16314.79 18273.99

15785.68 N/A

N/A N/A



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AUD/NZD (Weekly)

The Australian dollar is depreciating versus its geographical neighbor under the lowest falling

Fibbonachi level (38.2). The pair has lost almost 3000 points since summer 2011. The bulls are

now in control here as the price could recently break through the second Fibonacci line. The

MACD is signaling a trend with possible wins.

Support & Resistance (Weekly)


1.0543 1.1277

N/A 1.1589

N/A N/A



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Daily Calendar & Key Events

Date Time (GMT) Economic Indicator Last Survey

13/05/2016 12:30 US Advance Retail Sales -0.4% 0.8%

If you have any questions, please contact us for further assistance. 24 hours a day:

German: +49 40 66 86 49 – 96

English: +49 40 66 86 49 – 96

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DISCLAIMERIMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THISPROMOTIONAL DOCUMENT

This document “Daily FX Report” is a promotional document and is created and published by VarengoldBank AG. This Promotional document serves exclusively for information purposes. It is exclusively aimedat German business partners and customers who make their own investment decisions at their own risknotwithstanding the contents of this promotional document. Investment decisions should be made on thebasis of a preceding consultation with an independent financial advisor and prospectus, but not on thebasis of this promotional document.Depending on the individual investor's investment goals, investment horizon or financial situation, thecontents of the present promotional document may not be suitable at all or only in part. This promotional

document is not aimed at persons with residence and / or place of business and / or branches abroad,particularly in the United States of America, Canada, Japan or Great Britain. This promotional document isfor information only and especially does not constitute a public offer, an advice, recommendation or aninvitation to submit an offer for purchase or selling of or subscription to securities or other financialinstruments. This Promotional document does not constitute investment advice or investmentrecommendation.This promotional document does not constitute a financial analysis. Therefore it does not fulfil the legalrequirements ensuring the impartiality of financial analyses. This promotional document is not subject tothe prohibition of trades before the publication of financial analyses. With this promotional document noindividual investment advisory and / or information relationship with Varengold Bank AG is established. All declarations, statements or assessments included in this promotional document are those of thisdocument's author; they do not imperatively correspond to third party statements. Varengold Bank AG hastaken the entire information on which the promotional document is based from sources considered serious

and reliable, but without verifying the entire information. This is why Varengold Bank AG does not givepromises or guarantees regarding precision, completeness or accuracy of the information or opinionsincluded. Varengold Bank AG does not assume any liability for losses and direct or consequential damagecaused by the use and / or distribution of this promotional document and / or associated with the use and/or distribution of this promotional document. The contents of the promotional document correspond to thestate of information as of the date of its preparation. It may be outdated on account of future developmentswithout this promotional document having been modified. Any complete or partial reproduction or anyother usage and /or distribution of this promotional document and / or its content is forbidden and subjectto publisher's prior written consent.

Warning notice:Trading the foreign exchange market carry a high level of risk and may result in substantial loss in part orall of an investment and is therefore not suitable for every investor. Any past performance is not an

indication or guarantee of future performance.

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VarengoldbankFX Daily FX Report_20160513.pdf