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Main » 2016 » April » 5 » Forex forecast for today 05/04/2016: The risks of negative dynamics of the euro intensified!
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Forex forecast for today 05/04/2016: The risks of negative dynamics of the euro intensified!
 
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Forex. The forecast of the euro against the dollar (EUR / USD) as of today 05/04/2016

In yesterday's trading the euro against the dollar was adjusted, as traders decided to overestimate their attitude to Friday's report on US employment.Indicators on labor and wages were really positive and confirmed the continued steady recovery of the US economy.

 

 

After some deliberation decided to market yet to respond to the positive and start buying the dollar. Against this background, quotes the European currency came down, but at the level of 1.1357 the pair decline was halted.An attempt to resume US dollar growth was clearly unsuccessful.

 


The mood of the market still prefers euros. In addition, the American statistics on Monday was not up to par.February's volume of industrial orders fell sharply, and this is the third drop in the last 4 months. Manufacturing activity in New York state also showed a significant reduction, fixing the level of the March on the brink of recession (50.4 points against 53.6 in February). As a result, demand for the dollar has come to naught, and the market again began to buy the European single currency, returning a pair of quotes to its Asian highs - 1.1409, which the pair  euro / dollar  and finished the trading session.


The forecast of the euro / dollar at today: Considering that the position of the single European currency in the course of yesterday's trading virtually unchanged (1.1388 against the previous level of 1.1392), save for Tuesday our previous forecast and anticipate the completion of the current pullback and reversal of the course of the single European currency in the correctional decline the following target levels: 1.1358,1.1327, 1.13, 1.1262, and 1.1216.

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Forex. The outlook on the pound / dollar (GBP / USD) as of today

GBP / USD, for 1 hour.

Monday confirmed the forex market tradition to correct previous price action. sterling exchange rate also pushed back from Friday's low 1.4170 and started to grow.


Despite the negative impact on the market of the forthcoming referendum on the preservation of the UK within the EU mood of the players are still on the side of  the pound .

 

Publication of business activity data in the UK construction sector remained at the same level (54.2 points) had no effect on the price of currency dynamics. Currency pair continued to rise and in the course of the trading session in London reached a maximum daily level of 1.4320. Next Course pair started moderately adjust the previous rise and at the end of trading session on the closing of the fixed price level 1.4261.

 

Pound Dollar today expect a reversal and resumption of the downward movement of the British currency to such target levels, such as: 1.4250, 1.4230, 1.42, 1.4167, and below a key support level of 1.41.

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Forex. The forecast for gold prices today 04/05/2016

GBP / USD, for 4 hours.

On the eve of gold was traded in a narrow sideways range trading and finished the day a slight decrease in the lower limit of a 6-week range on the price level of $ 1215.86 per ounce. The driver of this dynamic was the statement by the head of the Federal Reserve Bank of Boston Eric Rosengren that taking into account the stability of the US economy, the Fed may decide to increase rates sooner than expected. It is noteworthy that Rosengren (voting member of the Fed) is considered to be representative of a soft monetary policy and, in general, is not inclined to take a tough stance against the earlier rate hike. It made an impression on investors and - metal on yesterday's trading remained under pressure.


As of this morning near term resistance for gold held by the level of $ 1225 weekly reversal ounce. The breakdown of this resistance as you move up the metal will continue to rise to the following purposes: $ 1228, $ 1232 and $ 1238 per ounce.


Immediate support for gold is located at the level of daylight turn $ 1218 per ounce. If it is passed, then it becomes possible to further decrease the metal to the following price levels: $ 1215, $ 1211, $ 1207 and $ 1200 per troy ounce.


Gold forecast for today expect the initial ascent and attempt to test the metal in the sample significant resistance level, passing through the 233-day moving average of $ 1228 per ounce (hour timeframe). Further forward rotation and the resumption of reducing the value of gold to the above targeted levels of support.

Forex. Prediction silver rate today 05/04/2016

XAG / USD, for 4 hours.

In the absence of its own silver market drivers exactly duplicated the price dynamics of gold trading with a slight decrease in the narrow 20-cent range. As a result, by the end of yesterday's trading on the New York Stock Exchange «Comex» May silver lost 13 cents per ounce, recording the level of the daily closing around $ 14.90 per ounce.

 

As of this morning near term resistance for silver held by the level of weekly reversal 15.10 $ per ounce.


If resumed the upward movement - and this resistance is broken, - the rise will continue to target levels of $ 15.19, $ 15.28, $ 15.40 and up.


Immediate support for the silver is located at the level of daytime turning $ 15 per ounce. If quotes overcome it - will continue to decline in price levels of $ 14.90, $ 14.78, $ 14.63 per ounce and below.


Silver Forecast for today assume initial rise and attempt to test the metal breakdown level reversal week $ 15.10 per ounce. Further forward rotation and the resumption of reducing the value of silver to the above targeted levels of support.

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Forex. news

The economic calendar on Tuesday in the center of market attention will be the decision of the Reserve Bank of Australia on the basic interest rate and the accompanying statement to the decision. The changes are not expected, the rate will be kept unchanged at 2%.  In other highly significant figures will be published in Australia, Japan, the UK and the US in March the index of business activity in the services sector.  The same indicators and composite indices, which include the combined figures for both sectors, will be published in the Eurozone and in the leading economies in the region -. Germany, France, Italy and Spain  substantial interest will also be published in the United States of the composite ISM index for the non-productive sphere, including the index of employment in March and the level of vacancies and labor turnover in February ., as well as the bottom line of the February foreign trade balance in Canada, the UK and the US  Australia is to publish the February trade balance.  Japan will introduce changes in the wage level in February, Germany - February data volume of orders in the industry.  and the UK will publish the amount of official reserves.

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