Forex. The forecast of the euro / dollar (EUR / USD) as of today October 19
On Friday, the Forex euro \ dollar traded in a narrow sideways range bound 1.1394 ÷ 1.1334. After a sharp decline on the eve of traders trying to determine the further direction of movement. However, to obtain support from economic news from the Eurozone failed.
Consumer price indices reached the level of negative expectations and fell in September to a level of (minus) 0.1%. The surplus of the foreign trade balance also fell. As a result, the couple was again under the "bearish" pressure, which could compensate for only pending the outcome of the meeting of the European Central Bank, 22 October, on Thursday. Investors know that the ECB is prone to an increase in incentives, but the findings of the recent financial statements of EU officials, lead to the assumption that the Bank is likely to prefer to wait to assess the situation on the commodity, financial and emerging markets. This was the positive, which allowed the "bulls" on the euro to complete the volatile week without any significant changes.
The euro dollar is suppose - the completion of corrective decline in the price zone couples 1.1340 ÷ 1.13.Furthermore, we expect a reversal of the course of the single European currency to rise to the target levels: 1.1385; 1.1410; 1.1437 and above.
Forex. Forecast pound / dollar (GBP / USD) as of today October 19
An empty economic calendar at auction on Friday the British pound again left without drivers for the movement.In anticipation of the weekend and amid a strengthening dollar currency quotes moderately declined, ending trading at 1.5438 price level. The positive development of the British economy still allows the "bulls" to keep the currency in the area earlier highs. Moreover, the pair formed the model currently corrective triangle warning about the likely breakout of its upper boundary and the formation of a new high in the area of significant resistance 1.5550. In the future we expect to turn the dynamics of couples and the resumption of its downward movement.
Pound Dollar today assume - short-term depreciation of sterling in the price zone 1.5382 ÷ 1.5340. If sellers can be overcome pound lower boundary of this range, the decline will continue further to price levels: 1.5321;1.53, 1.5270. *** If the samples for reducing the lower limit of the range (1.5340) does not succeed, the pairpound \ dollar will unfold on an upward movement in the direction of the previous local maximum of 1.5507 and above 1.5540 to target levels; 1.5570 and 1.56.
Forex. The forecast rate of gold and silver as of today October 19
Forex. Recommendations for gold and silver today
Gold prices were not kept at that level, and during the Friday trading resumed its decline. The growth of the metal in the previous period contributed to weak economic data from the United States, giving rise to speculation that interest rates in the country remain low still significant period of time. However, on Friday after reaching a new 4-month high of $ 1191.48 per ounce, many investors began to record profits, leading to a reversal of the price movement. As a result, at the end of the day December gold futures on the New York Stock Exchange «Comex» fell $ 5.88 - to the level of $ 1177.25 per troy ounce.
As of this morning near term resistance for gold held by the level of daylight reversal - $ 1179 per ounce. The breakdown of this resistance during the upward movement will continue to rise for the next metal target levels - $ 1191; $ 1194 and $ 1201 per ounce. Immediate support for gold is located at the weekly reversal - $ 1175.If it is passed it will be possible to further decrease in metal price levels - 1170 $; $ 1162 and $ 1157 per ounce.
The price of gold today expect - renewal to reduce the cost of the metal to the above targeted levels of support.
Silver in yesterday's trading showed a similar trend. After unsuccessfully testing highs reached on the eve of renewed decrease in quotations of the metal in the course of a volatile trading day closing price fixed at the level of $ 16 per troy ounce.
As of this morning near term resistance for silver is located at the level of the previous maximum of $ 16.15. If resumed the upward movement, and this resistance is broken, followed by continued rise to the target level of $ 16.68 per ounce. Immediate support for the silver held by the level of daylight reversal - $ 15.95 an ounce. If quotes overcome it - continue to decline further, to the next level - $ 15.86; $ 15.76 and $ 15.60 per ounce.
Course of silver today in the forecast - reducing the value of silver to the above targeted levels of support.The district-level price $ 15.80 per ounce of metal is possible corrective pullback followed by the resumption of its downward movement.
The economic calendar Monday in the focus of the market will be - data from China to change the real volume of GDP for the third quarter and year to date, as well as changes in the volume of industrial production for September and the cumulative total from the beginning of the year.
Among other indicators - United Kingdom will report on the dynamics of housing prices for October. Germany's central bank - the Bundesbank will publish a monthly report on the situation in the intervening period. The euro zone will present changes in the volume of construction in August, while the European Central Bank will announce the weekly volume of purchases of securities. New Zealand will publish the September index of business activity in the services sector. And statistics from China will be released September data on the volume of retail trade and the volume of investment in fixed assets. In addition, in Canada today, elections to the federal parliament, and in the United States and France - auctions for 3-, 6- and 12-month government debt.
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Forex forecast for today from MaxiMarkets