Forex. The forecast of the euro against the dollar (EUR / USD) as of today October 22
Forex trading on Wednesday, the euro / dollar spent in a very narrow range.Volatility movement did not exceed 40 points, and the final the pair differed from the previous day only 7 points (1.1338 versus 1.1345).
In the absence of significant economic news, investors prefer to trade at current price levels, waiting for the appearance on the stage of the European Central Bank head Mario Draghi. Any surprises from the regulator do not wait, but against the background of weak economic growth in the euro area on the brink of deflation, the market expects to hear about the new additional stimulus measures that could strengthen the economy, to strengthen foreign trade activities in the region due to the increase in exports and the depreciation of the single European currency.
The euro dollar today: Considering that the position of the euro against the dollar during yesterday's trading, almost unchanged, maintain our previous forecast and we expect first short-term growth rate of the euro, further continuation of decrease in quotations of the single European currency to the following target levels: 1.1343, 1.13 and 1.1280 and 1.1260. Near this level of short-term pullback is possible pair, and then followed by the resumption of its downward movement.
Forex. Prediction of the pound against the dollar (GBP / USD) as of today October 22
England yesterday reported a very positive performance. The state budget deficit decreased from the previous 11 bln. Pounds to 9.4 billion. The need for public sector borrowing also fell to an 8-year low - from 19.1 bln. Pounds to 17.9 billion. In addition, in the first half of 2015 have risen sharply, investment flows to the country's economy . Balance of payments data today shows historical maximum inflow razmere250 billion. US dollars.
Against this background, the pair decline stopped, and quotes the British currency took place on the upswing.However, before today's meeting of the European Central Bank and the US Federal Reserve meeting on interest rates on October 27-28, the upward momentum was short-lived and did not manage to create any meaningful movement.
Risk aversion has stopped the rise at the level of 1.5476 and profit taking and closing of long positions on the pound deployed to reduce the British currency. By the end of the day the pair reached a new weekly low 1.5410, which the pair GBP / USD and ended the trading session.
Pound / dollar today expect a reversal to an increase in the sterling price levels 1.5435, 1.5474, 1.55, 1.5540 and up to the key resistance level of 1.56.
Break down the support level 1.5410 may slightly change the script and call the original pair decrease in price zone 1.54 ÷ 1.5382, from which we will then wait for the resumption rise to the above target levels.
Forex. The forecast rate of gold and silver today
On the eve of the Fed meeting, which will consider the terms to increase interest rates, gold prices continue to be under pressure. In addition, the price dynamics of the metal affects the uncertainty in the issue of the position of the ECB to increase the financial incentives of the European economy. And an additional factor strengthening "bearish" pressure on the metal, is the growth of the European equity markets and increased demand for risky assets.
Against this background, the price of gold in yesterday's trading up again decline. From the Asian maximum $ 1179.20 per ounce quotations of the metal to the end of the day tested the minimum weekly level at around $ 1163.65 - - are completed and trade.
As of this morning near term resistance for gold held by the level of daylight turn $ 1170 per ounce. The breakdown of this resistance will continue the upward rise of the metal to the next target level - $ 1173, $ 1181 i1191 $ per ounce.
Immediate support for gold is located at the level of daily and weekly reversal of $ 1162. If it is passed, then it becomes possible to further decrease in metal price levels - $ 1158, $ 1153 and $ 1148 per ounce.
Gold prices today in the forecast assumed a reversal of quotations from the current metal price levels and reducing the value of gold to the above targeted levels of support.
Silver in yesterday's auction also resumed its decline. Against the background of a strengthening US dollar metal prices have fallen significantly and the level of $ 15.94 recorded at the end of the new trading week low at around $ 15.62 per ounce.
As of this morning near term resistance for silver is held on the level of $ 15.75 a day reversal. If resumed the upward movement - and this resistance is broken, - followed by a continuation of the recovery target levels of $ 15.86, $ 15.96 and $ 16.10 per ounce.
Immediate support for the silver is located at the previous local minimum $ 15.62 per ounce. If quotes overcome it - the decline will continue to the next level - $ 15.48, $ 15.41 and $ 15.24 per ounce.
In our forecast for silver also expect renewed depreciation of silver to the above targeted levels of support.
The news block on Thursday the focus of the market would be the decision of the European Central Bank's main interest rate, the rate on the deposit, and the accompanying statement to the decision. The changes are not expected, the specification of the interest rate will be maintained at the same level - 0.05%. Today, the press conference European Central Bank President Mario Draghi.
Considerable interest of investors to attract the publication of data retail sales in September - in the UK and in August - in Canada.
As always, a significant attention of the market will cause the weekly US data on the number of initial applications and repeated applications for unemployment benefits.
Japan unveil October data volume of foreign investment in the economy and the amount of capital invested abroad.
Australia will present the index of economic confidence in the business environment in October.
The euro zone will release the October consumer confidence index.
Spain will report on unemployment for 3 th quarter.
In the US there are statistics indicators such as: August House Price Index, September sales housing on the secondary real estate market, as well as indices lagged, coincident and leading economic indicators and indexes of economic and industrial activity from the Federal Reserve of Chicago and Kansas .
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Forex forecast for today from MaxiMarkets