Forex. The forecast of the euro / dollar (EUR / USD) as of today 10/29/2015
Yesterday's trading forex in the European session, the euro tried to buyers continue corrective gains, and against the background of a weakening dollar in anticipation of the Fed meeting, reached a new 3-day high of 1.1095.
Initially, the growth of quotations Euro \ dollar prevented the weak data from Germany, where the index of consumer confidence for the third time in a row was below the previous value and analysts' forecasts, and the import price index fell to (minus) 4%, also exceeding expectations. Although the adjustment of positions before the release of the Fed's decision has helped the pair to recover and continue to rise, recording a high of 1.1095.Subsequent events have completely changed the nature of trade and the price dynamics of the pair. In an accompanying statement to the decision of the Federal Reserve kept the possibility of raising interest rates in December, while removing the phrase about the risks for the US economy from the global slowdown in the global economy. In addition, there were marked - an improvement in economic activity, the growth of capital investment business, improvement of the residential real estate sector and the increase in household spending.All this has convinced market participants that the Federal Reserve set a very positive and in December will begin to finally raise rates. Against this background greenbacks rushed up, and quotes the euro collapsed tested collapse of the new 3-month low at around 1.0896.
The euro / dollar is suppose - the completion of decrease in pair price zone 1.0890 ÷ 1.0845. Furthermore, we expect a reversal in the upward movement of the pair to target levels: 1.0950; 1.10; 1.1035 and 1.1070.
Forex. Forecast pound / dollar (GBP / USD) as of today 10/29/2015
The negative report from Albion on GDP growth, which was released yesterday, led to continued sales of the pound, the course of which the trading in Asia reached 1.5275. A slight decline in the dollar before the Fed decision on rates, has allowed customers sterling start to adjust the previous 2-day fall. But to get to the highest level Tuesday and continue the growth of quotations is still not possible. An empty economic calendar and the results of the FOMC meeting was the driver of a new turn and a rapid fall in the zone of its pair 2-week lows. Distinctly American regulator's intention to begin in December of this year, an increase of interest rates was thrown a couple of progress in European trading high - 1.5346 to the minimum level of protection at the level of 1.5247, which is close and ended the trading session.
Pound Dollar today - the completion of decrease in pair price zone 1.5235 ÷ 1.5218. Furthermore, we expect a reversal in the upward movement of the pair to target levels: 1.5280; 1.53; 1.5320 and 1.5344.
Forex. The forecast rate of gold and silver as of today 10/29/2015
Forex recommendations on gold and silver today:
China's interest in buying gold has increased significantly in recent years. Low prices and the festival - in early October, pushed up sales activity in China. According to the Statistics Department of Hong Kong, in September, China imported 97.2 tons of gold. This is a significant amount since last November. Since the beginning of this year, China imported from Hong Kong, 582 tons of gold, which is almost 3% more than in the same period last year. According to the Research Institute of «Thomson Reuters» specializing in precious metals, in the third quarter, demand for physical gold also increased by 7% year on year, reflecting higher consumer interest in buying gold coins and bars, in addition, it was also marked by the growth of purchases and to the Central Bank.This information provoked a new demand for the metal, the rate of which has gone up sharply. Quotes metal struck the border 2-day range, and at the time of the announcement of the FOMC meeting on the rise recorded new 2-week high of $ 1182.90 per ounce. However, the Fed's positive attitude and a clear allusion to the beginning of the interest rate increase - with the next meeting in December, stopped the rising cost of gold and spread quotations of the metal down. The collapse of all daily gains were lost and the price of gold, breaking the previous local minimum, tested the level of $ 1152.14 an ounce, near which completed and trade.
As of this morning near term resistance for gold passes through the price level - $ 1158 per ounce. The breakdown of this resistance during the upward movement will continue to rise to the levels of metal a day ($ 1164) and a week ($ 1169) turns. Immediate support for gold is located at the previous local minimum - $ 1152. If it is passed it will be possible to further decrease in metal price levels - $ 1148; $ 1142 and $ 1132 per ounce.
Gold today in the forecast - the completion of reduction of the metal near the $ 1143 price level, and then - a new increase in the value of gold to the above target levels of resistance.
A very similar trend was demonstrated, and the silver market. Here, too, there was a sharp increase in the cost of metal, the rate of which on the eve of the FOMC meeting tested the new 4-month high at $ 16.35 an ounce, and then, after the publication of the accompanying statement to the decision, plummeted in the wake of a sharp strengthening of the dollar. At the end of day quotes metal touched the low of $ 15.73, and finished trading little back on the price level of $ 15.92 per troy ounce.
As of this morning near term resistance for silver is held in terms of day reversal - $ 16 per troy share. If resumed the upward movement, and this resistance is broken, followed by continued rise to the target level $ 16.06; $ 16.18 and $ 16.35 per ounce. Immediate support for the silver is located at the weekly reversal - $ 15.84 an ounce. If quotes overcome it - continue to decline further, to the next level - $ 15.73; $ 15.63 and $ 15.48 per ounce.
Silver today in the forecast - the completion of reduction of the metal in the zone of price 15.73 $ ÷ 15.63 $, and then - the resumption of growth in the value of silver to the above target levels of resistance.
The economic calendar Thursday - the focus of the market to attract the preliminary data from the United States to change the volume of GDP for the third quarter, including the GDP price index and an index of personal consumption expenditures; weekly data on the number of initial applications for unemployment benefits, as well as changes in the volume of unfinished transactions in September.
Considerable interest will be published in Germany's preliminary index of consumer prices in October and data on the labor market, including: changes in the number of unemployed and the unemployment rate (previous figure - 6.4%).
Other very important factors will be the data from the UK in terms of volume of consumer and mortgage lending, the volume of loans to individuals and the number of approved applications for a mortgage loan in September, as well as the dynamics of retail sales according to the CBI in October .
Among other economic news - Japan unveil October data on the volume of foreign investments into the economy of the country and the volume of capital invested abroad, as well as preliminary data on the volume of industrial production in September. Australia is to publish the indices of import and export prices for the third quarter. The euro zone will present an indicator of business environment, as well as the September index of consumer and economic confidence in industry and the services sector. Canada is to publish the September producer price indices and prices of raw materials.
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Forex forecast for today from MaksiMarkets