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Forex forecast for today 07/10/2015: In the center of attention - the British!
Forex. The forecast of the euro / dollar (EUR / USD) as of today 07/10/2015
Yesterday's forex trading, the euro / dollar continued its strong growth, which seems quite logical in the light of the disappointing labor market data, which came out last week. Weak NFP report reduces the chance of the Fed raising interest rates this year and it would be logical to assume that the dollar significantly reduced major currencies.
But the quotations of the euro / dollar is still unable to leave a wide range of 1.1100 - 1.1400, this indicates that the strength of greenbacks is stored in the medium and long term. Just yesterday supported the European currency poor statistics in the United States showed that the US trade deficit in September was higher than expected. This is primarily associated with a significant reduction in exports, due to the continuing drop in oil prices. After the release of foreign trade data analysts from Goldman Sachs lowered the forecast for US GDP growth in the third quarter.
The euro dollar today, in the absence of important macroeconomic news from the US and the Eurozone, we assume a decrease in quotations of euro / dollar from the strong resistance level of 1.1280 to 1.1240 marks, 1.1200 and 1.1160.
Forex. Forecast pound / dollar (GBP / USD) as of today 07/10/2015
In yesterday's trading the currency market, the Briton steady growth against the US dollar. Do not backed by fundamentals, the growth was a movement from the lower to the upper border of a short-term range 1.5130 - 1.5230, demonstrating against the pound positive sentiment forex traders. A slight slowdown in price growth at the end of the trading session in the US was a good starting point for the resumption of recovery with the opening of the trading session on October 7 in the Asia-Pacific region. Break of the resistance level of 1.5230 is a clear reversal signal medium-term downward trend, which is further supported by the formation of a technical reversal patterns of trend in the four-hour and daily charts. If we consider the long-term perspective, we can clearly see the horizontal trend reversal from the bottom of which we are seeing at the moment. Thus, the increase in the exchange rate of Albion against the American supported by technical factors in the short, medium and long term.
Pound dollar today on the basis primarily of the above findings, based on technical factors. However, the trigger for the start of the growth during the trading session in Europe may be published in the 11-30 MSK UK industrial output. The goals are intended to increase resistance levels 1.5280, 1.5330 and 1.5370. The key support levels, in the unlikely but possible correction will become ex-border short-term sideways trend 1.5230 and 1.5130.
Forex. The forecast rate of gold and silver as of today 07/10/2015
In the course of trading on Tuesday, gold has continued to rise against the US dollar, which began on Friday after the publication of statistics on the US labor market. The nearest resistance level for gold has moved to the level of $ 1155 per troy ounce. In case of breakdown and this resistance, gold will continue to rise to around $ 1163, $ 1168 and $ 1185. Short-term support of the metal takes place at the level of $ 1146. If the metal is able to go through this level, it is likely to further reduce to the support $ 1141, $ 1132 and $ 1122 per troy ounce.
Silver gold in similar dynamics was also higher against the US dollar in trading on Tuesday, setting a new six-month high. Local resistance for silver is at $ 16.10. If the metal is able to overcome this level, it is likely to continue further growth to new highs of $ 16.25 and $ 16.50. Short-term support for the silver is located at $ 15.80. A further reduction will enable the metal to test the level of $ 15.60 and $ 15.35 per ounce.
China continues to celebrate the Day of the Republic. Markets are closed, the statistics will not be published.The focus of investors on that day will be the publication of the Bank of Japan decision on the basic interest rate, comment on monetary policy and data on the annual growth of the monetary base. The changes are not expected to statutory rate will be maintained at the same level - less than 0.1%. In addition, the interest of market participants to attract a press conference the head of the Bank of Japan - Haruhiko Kuroda. It should also pay attention to the publication in Britain of the dynamics of industrial production and manufacturing production, as well as data on changes in GDP for the preceding three months, including reporting. Significant interest is also cause changes in the volume of industrial production in Germany. Among other economic news of the day: Japan introduced indices lagged, coincident and leading economic indicators for August. Australia is to publish an index of activity in the building in September. Britain will publish the September retail price index.In France, come totals balance of foreign trade. Canada is to publish the number of building permits issued. And statistics from the United States will be published - the volume of consumer credit in August, the index of mortgage lending in October, as well as data on stocks of gasoline, crude oil and distillate - from the US Department of Energy.
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