Forex forecast for 12/28/2015: Pound Dollar - correction
Forex. The forecast of the euro against the dollar (EUR / USD) as of today 12/28/2015
Activity in the market yesterday after the Asian session was close to anabiosis.All the main macroeconomic drivers of the week behind us, and European players with peace of mind went to meet the main winter holiday.
Published on the eve of the last block of meaningful statistics from the USA did not disappoint. In November, orders for durable goods remained unchanged, while analysts expected them to fall by 0.7%. Personal income and spending also came in line with expectations, which gave an opportunity to strengthen the dollar against the euro.
Growth however did not last long, and already in the Asian session, the currency turned to growth. But at least, reach a weekly high failed, the momentum was quite weak and against the background of an empty economic calendar, the pair stopped near the 1.0967 price level.
Published later important labor market data in the US have been very positive and demonstrated a reduction in the number of applications for unemployment benefits up to 267 thousand. (- 5 thousand. The forecast - 270 thousand.). However, to respond to them was virtually no one - on the market for Christmas silence that will last until next week.
The euro to dollar forecast for Monday 12/28/2015 assume evrobykov attempt to test the upper bound figure, "head and shoulders" - 1.0990, hour timeframe. If the breakdown of this level will take place, then followed by continued recovery in the following price levels: 1.0984, 1.10, 1.34 and 1.1070 .
If, however, exceed the level of 1.0990 will not be possible, in which case expect to "bear" and a reversal the depreciation of the single European currency to the price levels 1.0913, 1.0898, 1.0878 and 1.0847.
Forex. Forecast pound / dollar (GBP / USD) as of today 12/28/2015
GBP / USD, for 1 hour.
At the finish the trading week before the Christmas holidays dollar suffered losses against virtually all of its competitors. Together with the British pound currency quotes struck resistance level of 1.49 strong and recorded a top elevation to the level of 1.4944.
Thus, the pair of the second day in a row actively corrects the previous decline. Given an empty economic calendar and lack of drivers for traffic growth couples of the British currency is primarily due to profit-taking and closing transactions for the purchase of the US dollar on the eve of the long holiday weekend, as well as technical factors. According to these data, the lower limit of the proximity of the 5-month correctional model (1.4820) and highly significant technical support level (1.4810) dollar halted attempts to "bull" to continue the pressure on the pair. The wave structure of the couple confirmed the likelihood of continuation of the upward corrective pullback after resumption of trading next week.
Pound Dollar forecast for 12/28/2015 Trading on the foreign exchange market on Friday will not be held, because in our forecast for Monday expect a short-term corrective pullback in the pair price zone 1.4890 ÷ 1.4863. Further forward to lift the British currency to the following target levels: 1.4890, 1.4910, 1.4948 and possibly above a key resistance level of 1.50.
During the trading session on Thursday, the US and European stock exchanges closed earlier than usual, and on Friday they will be closed in observance of the Catholic Christmas. In this regard, the amount of day trading was significantly reduced, market participants closed their positions and tried not to open new ones.
On the eve of the Catholic Christmas against the depreciation of the dollar against major world currencies the price of gold showed moderate growth. At the end of the trading session on Thursday, February gold futures on the New York Stock Exchange «Comex» rose $ 6.46 to a level of $ 1076.64 per troy ounce.
In this official demand for metals remains high. According to the IMF, in November 2015, banks in China, Russia, Kazakhstan and Turkey continued to actively buy gold. Gold reserves of these countries increased during the month by 21 tons and 21.8 tons, 2 tons. and 9 tons, respectively. In addition, in response to the weakening of the renminbi rose sharply, gold prices in Shanghai.
According to economists, after the holidays, market participants will focus on two factors that can affect the value of the precious metal in the next year: the pace of normalization of the monetary policy of the Fed and the prospects of physical demand for the metal from Asian consumers.
As of this morning near term resistance for gold passes on price level 1077 $ an ounce. The breakdown of this resistance will continue the upward rise of the metal to the following objectives - $ 1081, $ 1085 and $ 1088 per ounce.
Immediate support for gold is at the level of day turn $ 1074 per ounce. If it is passed, then it becomes possible to further decrease in metal price levels - $ 1071, $ 1068 and $ 1064 per troy ounce. Gold forecast for 12/28/2015: Considering that trading on the precious metals market on Friday are not held in our forecast Monday expect a short-term corrective pullback from current gold price levels, then the resumption of the rise and growth of the cost of the metal to target the above-mentioned resistance levels.
Forex. The forecast rate of silver at today 12/28/2015
XAG / USD, 4:00.
Silver in yesterday's trading influenced by the same factors duplicated the price dynamics of gold. The nature of trading remained rather sluggish and volatility is very moderate. At the end of the trading day on the metal rose 6 cents to $ 14.36 per ounce.
As of this morning near term resistance for silver goes through $ 14.41 price level per ounce. If resumed the upward movement - and this resistance is broken, - followed by a continuation of the recovery target levels of $ 14.50, $ 14.60, and 14.63. Immediate support for silver settled at $ 14.33 a reversal day per ounce. If quotes overcome it - will continue to decline in price levels of $ 14.27, $ 14.15 and $ 14 exactly.
Prediction silver 12/28/2015: Considering that trading on the precious metals market on Friday are not held in our forecast for silver Monday also expect corrective decline in the metal price zone 14.25 $ ÷ 14.15 $. Then we expect the resumption of growth in the value of silver to the above target levels of resistance.
The economic calendar Friday Christmas!
Australia, New Zealand, and European and American markets are closed, the statistics will not be published.Japan will present today a unit of economic news. We present the list: the November consumer price index; the unemployment rate (the previous figure - 3.1%); the proportion of the economically active population;November data volume of foreign investment in the economy and the amount of capital invested abroad;changes in the volume of orders in the construction sector; Dynamics of bookmarks of new foundations for housing construction; changes in the volume of expenditure of households, as well as the index of leading, coincident, and lagging economic indicators for October.