Forex. The forecast of the euro / dollar (EUR / USD) as of today October 21
The euro \ dollar in yesterday's trading the forex market broke a three-day decline and re-tested on the rise the key resistance level of 1.14. Pending the outcome of tomorrow's ECB meeting upside driver for the euro became the head of the Bank of France comments Christian Noyer, who said that the current program of financial incentives the European economy is well balanced and effective enough
ECB data showed that banks use the funds received under the program for lending to businesses. Thus, the program works - supported lending and improved credit conditions in the region. The market interpreted these words as a signal to reduce the likelihood that on Thursday the ECB will indicate the need to further increase the volume of financial incentives. It supported the demand for the euro and helped customers in the wake of increased demand in the area to return the price of its 3-day highs at 1.1387 price level. Further, the output of strong data from the United States to increase the volume of new construction activity moderated somewhat "bulls" and led to profit on transactions for the purchase of European currency. As a result, the upward momentum was lost, the euro fell back against the dollar and reached a maximum at the end of the day gave the closing at a price level 1.1345.
The euro dollar is suppose - the completion of the current lifting and turning a pair of reduction to the targeted levels: 1.1343; 1.13; 1.1280 and 1.1260. Near this level of short-term pullback is possible pair, and then - the renewal of its downward movement.
Forex. Forecast pound / dollar (GBP / USD) as of today October 21
Sterling continues to consolidate after a sharp rise at the end of last week. Against the pound, the currency market is set quite positive, and while the price of a pair of pound dollar remains above the weekly reversal 1.5382 and the key resistance level of 1.54, there is a high probability of further upside Briton. In Asia, exchange rate sterling rose to 1.55 key level, responding to harsh comments of the Bank of England McCafferty, who said that on the background of a significant improvement in credit conditions in the country of rising interest rates on the national currency has become necessary. However, the 4th unsuccessful test the key level of 1.55 and an inability to consolidate above a pair of spoiled the mood "bulls" and led to corrective decline currency that reached the level of short-term uptrend 1.5435, which is close and finished the trading session.
Pound dollar today assume - a reversal in price growth to price levels: 1.5459; 1.5474; 1.55; 1.5540 and above towards the key resistance level of 1.56. Break of the support level down through the short-term uptrend 1.5435 may slightly change the script and call the initial depreciation of the pound / dollar to the key support level of 1.54, which then will wait for the resumption of growth in prices to the above target levels.
Forex. The forecast rate of gold and silver as of today October 21
Forex. Recommendations for gold and silver today
According to the Bank of Russia, in September, the country bought 1.1 million ounces of gold, which is the highest increase since last year. According to the estimates of the IMF, in 2005 the gold reserves of Russia grew more than three times (to 43.5 million ounces), reached a record level in 1993 and remains the sixth largest in the world. China, the world's fifth winner of the gold reserves, acquired in September, 15 tons of metal. Also built up their reserves of Kazakhstan, Ukraine and Belarus. This news, along with technical factors, was the driver of corrective upside metal from his previous fall. At yesterday's auction the price of gold has risen by $ 5.35 - to the level of $ 1175.93 an ounce. And in an instant the metal quotations showed daily high at around $ 1180.63 per ounce.
As of this morning near term resistance for gold held by the level of the previous local maximum - $ 1181 per ounce. The breakdown of this resistance during the upward movement will continue to rise for the next metal target levels - $ 1184; $ 1191 and $ 1201 per ounce. Immediate support for gold is located at the level of daily and weekly rotation - $ 1174. If it is passed it will be possible to further decrease in metal price levels - 1170 $; $ 1165 and $ 1158 per ounce.
The price of gold today expect - 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 trading also increased, demonstrating the extremely volatile sideways trend. Quotes of the metal in the course of trading tested the maximum and minimum levels of the previous day and ended the session inside the range on the price level of $ 15.90 per troy ounce.
As of this morning near term resistance for silver goes through the previous high level of $ 15.96. If resumed the upward movement, and this resistance is broken, followed by continued rise to the target level and 16.11 $ 16.68 $ per ounce. Immediate support for the silver is located at the previous local minimum - $ 15.73 per ounce. If quotes overcome it - continue to decline further, to the next level - $ 15.63; $ 15.48 and $ 15.24 per ounce.
Silver today in the forecast - continued sideways trading in the range of 15.73 $ ÷ 15.95 $ per ounce and the subsequent decline in the value of silver to the above targeted levels of support.
On the economic calendar, the environment should pay attention to the decision of the Bank of Canada's main interest rate, as well as the accompanying statement and commentary on monetary policy. The changes are not expected, the rate will be maintained at the same level - 0.5%. There will also be a press conference of the Bank of Canada. Today held another speech of the Bank of England Governor Mark Carney. Among other economic news: Australia to unveil index of leading economic indicators for August and September. Japan is to publish totals trade balance for September, including changes in exports and imports, as well as the index of business activity in all sectors of the economy. Switzerland will present the Economic Bulletin for October. UK will report on the volume of borrowed funds to finance the public sector in September. And in the US statistics will be published - the October index of mortgage lending and the data on gasoline inventories, crude oil and distillate from the US Department of Energy.
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Forex forecast for today from MaxiMarkets