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Main » 2018 » November » 7 » Forex forecast for today 07/11/2018: The US dollar retreats, risk appetite on the rise
Forex forecast for today 07/11/2018: The US dollar retreats, risk appetite on the rise


Greenbacks is under a certain pressure pos le elections in the US Congress, where, according to some reports, the Democrats get a majority in the House of Representatives. But risk appetite somewhat older, as President Trump's position in Congress in this case will weaken. Specifications of the US dollar outlook is quite pessimistic, because recent growth has not made it through the critical resistance levels. Statistics today are many, but it is secondary, market dynamics will depend on the headlines. 



EURUSD - The euro dollar pair is above 1.1430 and above 1.1450, which makes the chances of price growth to 1.1500. trading range until you can designate as 1.1430-1.1500. The growth of EURUSD above 1.1500 will give impetus to a serious movement above, and failure below 1.1430 again will put the pair euro dollar in the consolidation.



GBPUSD - the pound dollar pair continued strong growth. Range trading GBPUSD 1.3100-1.3150, there are chances of increase in the sterling exchange rate above 1.3150 towards 1.3200. In case of failure of quotes back below 1.3100, the GBPUSD is returned to the range of 1.30-1.31. 

USDJPY - a break above 113.50 113.80 reached quickly, but quickly returned to below 113.50. Now the range is 113.00-113.50, the risk of failure below 113.00. 

EURCHF - range 1.1430-1.1480 today without any changes. 

AUDUSD - a pair surely entrenched above 0.7200, the range today - 0.7230-0.7280. 

NZDUSD - preserved range of 0.6730-0.6780. Meeting of the Reserve Bank of New Zealand interest rate tonight will determine the future dynamics of late. 

USDCAD - pair holds above 1.3100, the range of 1.3100-1.3150.

Gold - a range of 1225-1235 and until today without major changes. 

Brent crude oil - pressure is felt here. Oil is trying to break below 72, 71.50-72.50 range today. 

USDRUB - 65.80-66.20 range today must be preserved. 

BTCUSD - Bitcoin looks more confident on the last day. New demand raised cryptocurrency above 6500, currently reached the mark 6600. The approximate range for today looks like 6550-6650.


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