Forex. The forecast of the euro against the dollar (EUR / USD) as of today November 16
In the currency market ssamogo Friday morning, the euro resumed its decline, which was the driver of the deterioration of European exports in the major developing countries. Slowed growth in Germany, Italy, Greece, Finland, and Portugal has recorded stagnation. Thus, the recovery of the euro area continues to remain weak, the economy of the region is still below the peak of the 1st quarter of the crisis of 2008, while the economies of the US and the UK, even exceeded pre-crisis levels.
Players forex Against this background, get rid of the euro currency, the rate is under selling pressure tested at least at a price level 1.0714. The mood of the market in anticipation of a December Fed rate hike is completely on the side of the US currency, which allowed the dollar to continue to grow, despite the negative data on retail sales and a new reduction in the production of inflation in the United States.
The euro exchange rate against the dollar today in the forecast assumed - the continued growth of the euro to the target levels: 1.08; 1.0816 and 1.0831. If the "bulls" on the euro will be able to overcome this level, price growth will continue further to the following objectives - 1.0845 and 1.0890. If the breakdown of 1.0831 level will not take place, the pair EUR \ USD unfold to reduce to a line of short-term downtrend 1.0720, which, then, will resume the upward movement of the pair to the above target levels.
Forex. Forecast pound / dollar (GBP / USD) as of today November 16
The growth of the British stopped in trading forex on Friday as players reacted negatively to comments inflationary prospects expressed by chief economist of the Bank of England's Andy Haldane. In his speech, he said that has not yet developed all the factors in favor of raising interest rates, thus lowering the confidence of the players that the Bank of England will follow the Fed to tighten its monetary policy. "Fly in the ointment" in a positive economic picture of the UK has meant that the British pound was in the course of trading without the support and all-day trading in a narrow sideways range, completing trades practically at the level of previous day's close - 1.5231.
The pound against the dollar today assume - renewal lift the pair to target levels: 1.5262; 1.53 and 1.5320. If we can push this last level and to gain a foothold above it, followed by continued lifting. In this case, the following objectives of the price movement will be the levels: 1.5344; 1.5386 and 1.54. *** However, more real, after reaching the upper limit of the correction of the triangle (1.5320), it seems - rolls back from her and the depreciation of the British pound in the direction of the lower boundary of the triangle correction. *** In this case, the objectives will reduce price levels: 1.5180; 1.5128 and 1.51.
Forex. Gold rate forecast for today, November 16
Forex traders recommendations for gold and silver today:
At the auction on Friday, gold prices showed mixed trends. The fluctuation reached $ 9, and at the time of publication of weak data on GDP growth in the Eurozone quotes metal tested the previous day at around $ 1088.61 per troy ounce. However, the hold could not be reached. The negative data on retail sales in the United States that could support the growth of the precious metals, the market simply ignored, and in anticipation of the weekend "bulls" began to record profits and close the deal to buy the metal. As a result, the price of December gold futures prices back to the opening day and finished the trading session at $ 1083.63 price level, having fallen in price to $ 1.34 per ounce.
As of this morning near term resistance for gold is held in terms of daily and weekly rotation - $ 1084 per ounce (hour timeframe). The breakdown of this resistance during the upward movement will continue to rise to the metal target levels - $ 1088; 1095 $ 1099 $ and 1104 $ per ounce. Immediate support for gold settled at a price level - $ 1080. If it is passed it will be possible to further decrease in metal price levels - $ 1077; $ 1071 per ounce and lower.
Gold prices in the forecast we assume - a reversal of quotations metal and increase the value of gold to the above target levels of resistance.
Forex. The price of silver forecast for today, November 16
Under the influence of an early tightening of monetary policy of the US silver also remains under pressure. At the auction on Friday, dubbed the metal price movements of gold and in the volatile border trade tested the lateral range on price levels of $ 14.38 and $ 14.17 per ounce.
Here, near the lower boundary, December futures on silver finished the day trading.
As of this morning near term resistance for silver held by the level of its daily rotation - $ 14.26 an ounce. If resumed the upward movement, and this resistance is broken, followed by continued rise to the target level - $ 14.40; $ 14.48; $ 14.70 and $ 15 per ounce. Immediate support for the silver is located at the level of the previous local minimum - $ 14.17 per ounce. If quotes overcome it - continue to decline further, to the following objectives - $ 14; $ 13.95 or less.
Course of silver today in the forecast assumed - the resumption of growth in the value of silver to the above target levels of resistance.
The economic calendar Monday, the focus of investors in Japan will involve the publication of data on the volume of nominal GDP for the third quarter, and GDP growth for the third quarter and year to date. In addition, to be published quarterly GDP deflator, as well as volumes of consumer and business spending.
Significant interest is also evidence of Canada's October dynamics of volume of home sales in the secondary market; the volume of transactions with foreign securities and changes in the volume of manufacturing shipments in September. New Zealand is also to publish a rather important indicators of business activity in the services sector and the dynamics of the volume of retail trade in the 3rd quarter.
In other news - the German Central Bank (Bundesbank) will publish a monthly report on the situation in the intervening period. UK will report on November the dynamics of housing prices. The euro zone will present the October consumer price indices, and the European Central Bank will announce the weekly volume of purchases of securities. Today will be the speech of President of the Bank, Mario Draghi. And in the US manufacturing index will be released «Empire Manufacturing» November. In addition, the United States and France will be held auctions for 3-, 6- and 12-month government debt.
Presented forex forecast is the result of an analytical assessment of the situation on the currency market.Charts and comments to the forecasts, in any case, are not recommendations to customers to open transactions and are presented only as an analytical and comparative material traders in developing their own forecasts. The company assumes no liability in any form, for any losses or other damages customers, direct or indirect, that may arise in the case of forecasts, presented on our website. Traders shall bear full responsibility for the results of their work.
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