Forex. The forecast of the euro against the dollar (EUR / USD) as of today 10/28/2015
After an unsuccessful attempt to break the resistance of 1.1080 buyers, bear again stepped up the pressure on the position of sellers. Despite an increase in concerns about the US economy, associated with the release of weak housing data on Monday and report on changes in the total volume of new orders for durable goods showed on Tuesday the worst result since March this year, the US dollar does not hand over their positions . Comments Mario Draghi about the possible increase in the ECB's bond buyback program is additional pressure on the exchange rate of euro currency.
Today, traders and investors will wait before the meeting of the Federal Reserve. Despite the fact that the chances of raising the federal funds rate close to zero in the fall (although in mid-September, the probability of such an outcome is 35-40%), investors prefer to reduce risks.
The most likely scenario for today's trading will be the consolidation of quotations in the already established price range 1.1030 - 1.1067. An important resistance for the pair euro / dollar still is the level of 1.1080, extending along the line of the uptrend from March 13 this year. In the breakdown of the lower limit of the corridor, sellers will try to test the previous local low 1.0996.
The euro / dollar today: alleged attempt to euro / dollar break through the upper limit and the subsequent increase to target levels 1.1100, 1.1150 and further to 1.1216 level.
Forex. Forecast pound / dollar (GBP / USD) as of today 10/28/2015
On the foreign exchange market yesterday, the sterling lost positions won by the previous day. In Asia, exchange rate GBP / USD tried to resume growth, but, repulsed by the resistance 1.5360, the price of the pound went down again, once again testing the 1.5300 support. The first publication of data on UK GDP for the 3rd quarter, were weaker than market expectations, traders provoked a strong reaction and even more landslides quotes. Economic growth was 0.5%, while the market forecast was 0.6%, while that in the 2nd quarter of the UK economy grew by 0.7%. The main reasons for the weak performance of economists called the decline in construction, as well as the closure of the automobile factories and oil companies in the summer.Despite the fact that the market is still hope for a substantial revision upwards in the second and third publication, the UK economy is slowing almost continuously since Q2 2014. More recently forecast a rate increase in the second quarter of 2016 appear to be unrealistic, and the markets are waiting for changes in monetary policy by the Bank of England before the end of 2016 - beginning of 2017
Pound Dollar today, a further drop in the British pound to the levels of 1.5275, 1.5237, 1.5200. Nearest resistance sellers have settled at levels 1.5327, 1.5360 and 1.5380.
Forex. The forecast rate of gold and silver as of today 10/28/2015
Trading in gold yesterday held sideways, within the level of $ 1162 - $ 1168 per ounce. The sharp rise in open interest for the purchase of metal, the highest since February this year, has not led to the desired result for the buyers. Over the last week the price dropped to $ 13, but with the maximum of this month gold has fallen in price by more than $ 25. Despite the fact that, as expected, the Fed will not raise interest rates at today's meeting of the Committee on monetary policy, the probability of a change of course at its next meeting in December is quite high. Higher rates are potentially make gold less attractive asset, since by itself it does not generate revenue. In this regard, investors will expect FOMC statement tonight that will determine the future direction of trading.
Short-term resistance for gold is the upper limit of this corridor $ 1168, and the next target level is at $ 1173.60 and $ 1179. In the breakdown and fixing prices below the support $ 1162, the decline will continue for a minimum $ 1158.89 last week, and possibly lower the levels of $ 1153.50 and $ 1150.
The price of silver, largely repeating the dynamics of gold was fixed within the levels of $ 15.78 - $ 15.94. We expect a continuation of the existing trend in today's trading to evening FOMC statement and decision on US interest rates. Nearest resistance merchants settled at $ 16.02, $ 16.10 and $ 16.28. With a favorable scenario for the sellers and the resumption of the downward trend, we expect reduction of quotations to the level of $ 15.70, $ 15.52 and $ 15.34 per troy ounce.
The focus of investors will be the decision of the Committee on open market the US Federal Reserve and the Reserve Bank of New Zealand's key interest rates and the accompanying statement to the decision. The changes are not expected, regulations rates will remain the same: the US dollar - less than 0.25%, the New Zealand dollar -2.75%. Attract significant interest as changes in retail sales in September - in Japan, the consumer price index and core inflation index for the third quarter - in Australia and the trade balance for September - in the United States. Among other economic news - Germany will present the September import price index and leading index of consumer climate in November. Italy and France will publish indicators of economic confidence in October. And in the US statistics will be published - the October index of mortgage lending and the data on the volume of gasoline inventories, crude oil and distillate - from the US Department of Energy.
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Forex forecast for today from MaksiMarkets