Forex. The forecast of the euro against the dollar (EUR / USD) as of today 10/11/2015
On the eve of trading on forex it was rather low compared with Friday. The euro attempted correction from multi-month lows. But the position of the single currency remained very shaky, and the downward trend of the euro / dollar remained.
The range of daily fluctuations accounted for 60 points, and was due to - on the one hand, profit-taking and closing of transactions on sale of foreign currency after a sharp sell-off on the eve of a pair, on the other hand - weak data on the trade balance in Germany. Import growth here has not been blocked by a corresponding increase in exports, indicating a loss of attractiveness of German products on world markets and the displacement of more cheap analogues. In addition, developments within the European region continued to put pressure on the euro. In particular, the Parliament of Catalonia approved yesterday a resolution on the separation of the province from Spain, then Spanish Prime Minister Mariano Rajoy expressed his intention to challenge the decision in the Constitutional Court. In addition, as part of yesterday's meeting of the Eurogroup finance ministers discussed the issue of the next tranche of Greece, the approval of which is currently under threat due to the implementation of the Athens insufficient number of approved reforms. Against this background, the possibility of restoring the pair were very limited and at the end of the day, "bulls" was able to promote the correction of only 13 points, to the level of 1.0751.
Today, the euro against the dollar assume - the completion of the correction of growth and renewal of the depreciation of the euro against the target levels of 1.07 and 1.0663. *** Near the latter level we expect a corrective pullback quotes euro to levels daily and weekly turn - 1.0754 and 1.0832 and possibly above a key resistance 1.09. Further, we expect the resumption of decline of the single currency to the level of 1.0663 and below.
Forex. Forecast the pound against the dollar (GBP / USD) as of today 10/11/2015
At the end of last week's drop in sterling proved still too much on the background of strong growth in the UK economy and prospects (even if deferred) to tighten monetary policy and increase interest rates on the national currency. In this regard, and in terms of profit-taking began, "bulls" managed to stop the decline of the pair, to seize the initiative and begin to actively recover losses. As a result, the pound \ dollar pulled back from Friday's 1.5026 low to the 1.5127 price level, and while maintaining the potential for further growth of the currency.
Today, the dollar exchange rate pound assume - a short-term pullback in the pair price zone 1.5095 ÷ 1.5070, and then - turn and the rise of the pound / dollar towards the key resistance level of 1.51 and 1.5190 weekly pivot levels.
Forex. The outlook on the price movement of gold today 10/11/2015
Forex. Recommendations for gold and silver today:
Gold prices yesterday corrected a previous decline in metal, although it remained in a very narrow range close to multi-year lows. Pressure on the quotes are still provided strengthening of the dollar against the backdrop of heightened expectations of a December rate hike at the Fed greenbacks. In addition, market participants worried about a decrease in demand for gold in China, which is still the largest consumer of the precious metals in the world. Physical demand from India (the second largest consumer of gold) was also quite restrained, despite the holiday season. Against this background, the metal could not break out of the range bound 1095.57 $ ÷ 1088.23 $ and closed the session with a slight growth of 3.30 $ to the level of 1092.73 $ an ounce.
As of this morning near term resistance for gold passes through the price level - $ 1098 per ounce. The breakdown of this resistance during the upward movement will continue to rise to the metal target levels - $ 1104; $ 1109 and $ 1117. Immediate support for gold settled at its previous local minimum - 1085 $. If it is passed it will be possible to further decrease in metal price levels -1080 $; $ 1077 and $ 1071 per ounce.
Today, the price of gold assume - turn and the rising cost of gold correction to the above target levels of resistance.
Forex. The forecast rate of silver at today 10/11/2015
Course silver persistently approaching the 7-year-old minimum levels, from which the metal is separated today only 57 cents per ounce reduction. At yesterday's auction, amid growing expectations of a further strengthening of the dollar and a slowdown in the world economy, the metal once again demonstrated another decline, having lowered to the level of quotes $ 14.43 per ounce. Profit before closing the day trading allowed the "bulls" significantly reduce the cost of metal to correct and complete the trade at a price level $ 14.55 per troy ounce.
As of this morning near term resistance for silver is held in terms of day reversal - $ 14.59 an ounce. If resumed the upward movement, and this resistance is broken, followed by continued rise to the target level - $ 14.70; $ 14.80; $ 15 and $ 15.20 per ounce. Immediate support for the silver is located at the level of the previous local minimum - $ 14.43 per ounce. If quotes overcome it - continue to decline further, to the following purposes: $ 14.25; $ 14 and $ 13.95 an ounce.
Silver is in the forecast for today expect - another attempt to test the previous local minimum $ 14.43 per ounce, then, expect the resumption of growth in the value of silver to the above target levels of resistance.
The economic calendar on Tuesday - the focus of the market will be the publication of China's consumer price index and producer prices for October, as well as a report on financial stability of the Reserve Bank of New Zealand.
Other very important indicators will be - the publication in Japan of September data on the total and adjusted (excluding seasonal factors) the balance of the current account; Dynamics of bank lending, as well as indicators of October of the current economic situation and economic prospects. Considerable interest will block economic data from Australia, including the September change the volume of mortgage and commercial lending; the total amount of loans and business confidence index for October.
Among other economic news - Switzerland is to publish data on labor, including changes in the number of unemployed and the unemployment rate for October (3.4%); France and Italy will present the September change of industrial production. In the euro zone will continue meeting of finance ministers - members of the eurozone. And statistics from the US are data on indices of export and import prices; Dynamics of changes in wholesale trade and the volume of stocks at the warehouses of wholesale trade.
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