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Forex forecast for today 11/17/2015: The course Euro \ dollar reversal zone. Do not rush to sell!
Forex. The forecast of the euro against the dollar (EUR / USD) as of today 11/17/2015
No weak retail sales or a new fall in prices of US producers, or even "verbal" intervention by the Fed aimed at cheapening grnbeka - nothing could move the dollar from its position and expand the euro against the dollar correction.Judging by how firmly negative currency shifts, forex players already committed to at the December rate hike and laid the projected growth of the dollar in its current market price.
But not only the strength of the dollar is behind this, but also the vulnerability of the euro currency, which receives daily from the representatives of the ECB's hints of a further increase in the volume of financial investments to help Europe's flagging economy. Moreover, the euro area GDP data, not by reaching the forecast, but still point to some recovery in the third quarter, we were completely ignored by the market for which is now the main importance is the only regional inflation.
Final inflation data in the euro area in October again showed a decrease of consumer price index to 0.1%, against 0.2% in the previous month. As a result of exchange rate euro / dollar, managed to fully recover losses after a series of attacks in Paris, turned back and resumed its rapid decline, fixed at the end of the trading day the minimum level at around 1.0674.
Today, the euro dollar forecast assume retest yesterday's low 1.0674 and in case of breakdown of a further depreciation of the single European currency in the price zone 1.0650 ÷ 1.06. Here we expect to turn and lift the pair to target levels of 1.07, 1.08 and 1.0755.
Forex. Forecast pound / dollar (GBP / USD) as of today 11/17/2015
GBP / USD, for 1 hour.
Already the 3rd day of the sterling consolidates around the key resistance level of 1.52. On the eve of forex trading currency held in a range of 45 points and closed trading at 1.5199 price level. All last week the pound \ dollar making up for lost and regained the losses still remained the strongest currency after the dollar. Today, however, the inflation report could change the situation. If consumer prices confirm their further weakening, while the chances of improving the Bank of England interest rate in the next six months dropped significantly, and the British pound will return to the key support level of 1.51. If prices show growth, in which case the rate of the pound \ dollar breaks range and rush to the upper boundary of the correction in the area of the triangle key resistance 1.53.
Today the pound against the dollar in the forecast of the anticipated completion of reduction of quotations of sterling at 1.5170 price level. Then we expect the resumption of growth of the pound against the dollar to the following target levels: 1.52, 1.5221, 1.5258, and 1.53. After reaching this level, we expect a retracement of a decline and the new British correction to the lower boundary of the triangle. In this case, the objectives will reduce the price levels 1.5170, 1.5128 and 1.51.
Forex. Today, the forecast rate of gold on 11/17/2015.
XAU / USD, 4:00.
Forex recommendations on gold and silver today.
Against the backdrop of terrorist attacks in Paris, the price of gold rose on Monday. At the end of trading on the New York Stock Exchange, "Somekh" Gold for December delivery increased in price by $ 14.46 to $ 1098.09 level per ounce, the price showed the biggest one-day rise from 28 October this year.
Buying gold, investors are trying to find some security for their investments, although the upcoming December interest rate hike on the dollar limits the growth potential of precious metals. By the way, it has been demonstrated quite clearly yesterday. Prices for a pullback from the highs again returned to the level of closing the previous Friday's $ 1083.63, which completed and trade.
As of this morning near term resistance for gold held by the level of $ 1084 weekly reversal ounce.
The breakdown of this resistance will continue the upward rise of the metal to target levels of $ 1087, $ 1090, $ 1099 and $ 1104 per ounce.
Immediate support for gold is located in the $ 1080 price level. If it is passed, then it becomes possible to further decrease in metal price levels to $ 1077, $ 1071 per ounce and lower.
The price of gold today in the forecast assumed a reversal of quotations metal and increase the value of gold to the above target levels of resistance.
Forex. The forecast rate of silver at today 11/17/2015
XAG \ USD, 4:00.
Under the influence of the same factors showed similar dynamics of silver. Has risen in price by 20 cents initially and test the maximum daily level at around $ 14.44, quotations of the metal in the course of yesterday's trading fell back to the level of Friday's close and ended the session at $ 14.24 price level per troy ounce.
As of this morning near term resistance for silver held by the level of its daily rotation $ 14.30 per ounce.
If resumed the upward movement - and this resistance is broken, - followed by a continuation of the recovery target levels of $ 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 of $ 14.20 per ounce. If quotes overcome it - will continue to decline in the following purposes - $ 14, $ 13.95 and below.
Silver prices today in the forecast assumed resumption of growth in the value of silver to the above target levels of resistance.
The economic calendar on Tuesday the market will attract the greatest attention the report of the Centre for European Economic Research ZEW institute on the sentiment index in the business environment and the current situation in Germany, as well as corresponding figures, as a whole, for the euro area in October.
No less important for investors will be, and the publication of the consumer price indices for October in the United States. A significant interest is the publication of the minutes of the last meeting of the Reserve Bank of Australia on monetary policy, published in the UK October index of consumer and retail prices, purchasing and selling prices of producers, as well as the report of the Bank of England over the past period the special committee of the British Treasury.
New Zealand is to publish data on expected inflation 4th quarter in 2 years.
Italy will present the September trade balance and the US will publish data changes in the volume of industrial production and manufacturing production, capacity utilization, and the dynamics of the average wage for a week.
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