Forex. The forecast of the euro against the dollar (EUR / USD) as of today 02/24/2016
The German economy in the 4th quarter of last year, has maintained the growth rate of the previous period, showing quarterly GDP growth at 0.3% and 2.1% year on year, in line with economists' forecasts. However, the euro has ignored the data, continuing to trade in a narrow sideways range, have achieved a minimum of 1.1003 the day before.
The subsequent publication of the German index of business sentiment and economic expectations was negative and caused a moderate depreciation of the single European currency to the price level of 1.0990. Next course in the US session the pair EUR / USD slightly corrected and completed the day trading at a price level 1.1019.
The lack of market reaction to the apparent poor performance, as well as education in the reduction of the basis of a reversal candlestick pattern "Rickshaw" (daily timeframe) prevents, in our opinion, the completion of the current decline and renewal in the near future a new phase of the upward movement of the pair.
Today, the euro-dollar exchange rate assumed at the end of decrease in pair yesterday reached lows and the growth rate of the single European currency to the following target levels: 1.1034, 1.1070, 1.11, 1.1129 and possibly to 1.1150.
If the "bears" for the euro still be able to push the pair below yesterday's low 1.0990, then the reduction may last up to the level of 1.0950, which then assume renewed rise to the above target levels.
Forex. Forecast exchange rate pound / dollar (GBP / USD) as of today 02/24/2016
The British pound began a new week is clearly not "wrong foot", losing in the first day of trading 350 points and update paired with American currency seven-year low.
On Tuesday the situation has not changed. Currency pair resumed its decline, tested previously made at least 1.4056 and then continued downward movement, the driver of which was the speech of the head of the Bank of England Governor Mark Carney. In his remarks Carney said that if necessary, additional incentives to the British economy the Bank may decide to lower the interest rate, or an increase in the volume of asset purchases.Market response to the intensified sales of the British currency. Pound on the day hit a new low at around 1.4004. Now the way "to the south" is open, the next significant support level is at 1.37 key level.
However, reducing the couple had already gone too far and is unlikely to be significantly extended in the background of the stabilization of raw material prices and energy resources, high economic growth, strong employment and positive indicators of consumer demand, including high retail sales.
In this regard, the chances of recovery are extremely oversold correction British currency after its fall to the important psychological level of 1.40 is already large enough. The course of the pound / dollar can dramatically change the orientation and to resume growth.
Pound Dollar today assume the completion of decrease in pair price zone 1.40 ÷ 1.3950. Further forward rotation and lift the British currency to target levels 1.4065, 1.41, 1.4123, and 1.4167.
Forex. The forecast for gold prices today 02/24/2016
On Monday, the price of gold dropped on the background of optimism in the financial markets, which led to a rally in stocks, oil and transfer of investments in higher-yielding equities.
On Tuesday, the mood changed. The price of gold has increased following the decline in equity markets and lower oil prices, which increased the demand for "safe" protective assets. April futures price of gold rose to $ 16.92 to the level of 1225.53 $ per troy ounce.
In the short-term volatility in the precious metals market is likely to be maintained, focusing in the price dynamics of the behavior of the stock markets.
As of this morning near term resistance for gold held by the level of $ 1226 weekly reversal ounce. The breakdown of this resistance as you move up the metal will continue to rise to the following objectives - $ 1232, $ 1238 and $ 1251 per ounce.
Immediate support for gold is at the level daily and weekly reversal - 1218 $. If it is passed, then it becomes possible to further decrease the metal to the price levels of $ 1214, $ 1206 and $ 1200 per troy ounce.
Rate of gold today expect the completion of the current expansion and renewal of reducing the value of gold to the above targeted levels of support.
Forex. Forecast Silver today 02.24.2016
Silver traded yesterday in a very narrow 15-cent range, and on the day fixed closing price at $ 15.28 per troy ounce. On the eve of the metal formed a corrective pullback after reaching the initial goal reversal graphic figure "head and shoulders" on the price level of $ 14.92 per ounce. Today, metal reduction may be resumed.
As of Wednesday morning near term resistance for silver passes on the price level of $ 15.28 per ounce.
If resumed the upward movement - and this resistance is broken, - the rise will continue to target levels of $ 15.38, $ 15.48 and $ 15.60 per ounce.
Immediate support for silver settled at $ 15.22 a reversal day per ounce. If quotes overcome it - will continue to decline in price levels of $ 15, $ 14.95, $ 14.70 and $ 14.63 per ounce.
Silver today forecast the anticipated completion of the current recovery and the resumption of reducing the value of silver to the above targeted levels of support.
Break down the previous local minimum of $ 14.92 per ounce confirm further decline in metal.
On the economic calendar, media should pay attention to the publication in the United States January data housing sales in the primary real estate market, as well as the index of business activity in the services sector and the composite index, which includes the combined figures for both sectors in February. Of great interest will also cause the British a report on retail sales by CBI in February. Australia is to publish quarterly data volume surrendered construction sites, the index of labor costs, as well as changes in the number of vacancies for skilled workers. Japan will publish the December index of leading and coincident economic indicators, as well as an indicator of confidence in small businesses. The United Kingdom introduced in January the volume of mortgage lending. Switzerland is to publish an indicator of consumer activity. in Italy, there are data of the dynamics in industrial orders and the volume of actual sales in the industrial sector. in the US, statistics will be published index of mortgage lending in February, and the data in gasoline inventories, crude oil and the distillate from the US Department of energy. Today will be the speech Fed Stanley Fischer Vice Chairman.