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Main » 2016 » March » 30 » Forex forecast for today 30/03/2016: Janet Yellen hit the greenbacks!
Forex forecast for today 30/03/2016: Janet Yellen hit the greenbacks!

Forex. The forecast of the euro against the dollar (EUR / USD) as of today 30/03/2016

In yesterday's trading the currency market the euro against the dollar showed a very mixed dynamics. For trading in and the course was in a relatively narrow trading range, and neither the buyers nor the sellers euro lacked the resolve to overcome the support level of 1.1160 or 1.1220 resistance.



Speech by Fed Chairman Janet Yellen has helped the majority of market participants to determine the further perspectives of the course of the currency pair in the near future. This provoked an intense growth in the area of ​​the resistance level 1.1280, which then gave way to consolidation.


Despite the active buying euro at yesterday's auction traders to take into account the fundamental systemic risks that threaten the United Europe and, accordingly, its currency.

One of the major problems of the financial sector of the Old World is a banking crisis in Italy, where the value of distressed debt currently amounts to 20% of total loans. In addition, one can not ignore the problems of terrorism and migration, which reduces investors' optimism about the prospects for the European economy.

It is likely that the choice of direction for opening positions on today's auction, investors will need significant fundamental motive. That trigger could potentially address the publication of consumer price index data in the largest economy of the European Union.

The forecast of the euro dollar today: If in Germany the price for the previous month will grow, then it will help to overcome the rate achieved by the resistance level and continue the upward trend in the area of the maximum of the current month 1.1340.

In the opposite case scenario, which is more likely at the current complex situation of fundamental, we will see the return rate to around 1.1215, and after its breakdown, the decline in the value of the opening week of 1.1150.

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Forex. Forecast exchange rate pound / dollar (GBP / USD) as of today 30/03/2016

GBP / USD, for 1 hour.

Over the course of the current trading week the currency pair British  pound / dollar  shows a steady upward trend. Consistent overcoming resistance levels alternating with minor corrections - all this obviously leads to the key mark of 1 dollar and 45 cents per unit of the British currency.

Taking into account the dynamics of the previous periods and the local tendency to weaken the dollar, you can very likely assume that the target level is reached already at today's European trading session.

Further dynamics of the movement will determine the US market, a key event which will publish changes in the number of employees from ADP. In recent days, a number of sources sounds more opinions about what data unemployment in the US could significantly surpass the previous expectations, and therefore, it is likely a sharp reversal and subsequent dynamic depreciation.

Significant support for the upcoming release will provide most of the reluctance of investors to buy British currency at the upper limit of the horizontal mid-term trend, which we can clearly see on the daily chart, especially taking into account the risks release the United Kingdom from the European Union.

The immediate aim of the upcoming correction will be at 1.4260 support, further - at around 1.4050.

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Forex. The forecast for gold prices today 30/03/2016

XAU / USD, for 4 hours.

The price an ounce of gold showed dynamic growth during yesterday's trading session. After fixing the session high near $ 1242 resistance level course slightly adjusted, while maintaining the capacity to continue the upward trend.

One of the important factors that influenced the rise in price of an ounce, was the performance of the head of the currency of the United States regulator Janet Yellen. The key points of the presentation are the statements about low inflation, the impact of global economic prospects for the US economy, as well as the relative weakness of the labor market. The last of these points clearly indicates that today the publication of data on employment, which is scheduled for 15:15 Moscow time, will be paid close attention to the market participants.

Increase in the number of employees above the expected values ​​can trigger the correction of gold prices and a return to local minima.

Gold Forecast for today: So, for today's European trading session, we expect continued growth in metal prices with the possibility of reaching resistance level 1255 $. Then, after the opening of trading on the western Atlantic and the publication of news in the United States it is very likely the beginning of a corrective pull, obstacle which will be the levels of $ 1242 and $ 1222.

Forex. Forecast Silver Course today 30/3/2016

XAG / USD, for 4 hours.

Silver continues to be in a local horizontal trend to gradually expand the boundaries. The growth in sales against the dollar in yesterday's US trading to $ 15.30 resistance level changed correction and return to the middle of the trading range. You can with high probability to assume that today's European trading session, the price of an ounce of silver will continue to remain within the boundaries formed trend. Consequently, it provided a good opportunity to earn at the opening of long positions in the area of ​​the support level of $ 15.05 and sales of metal from the local resistance $ 15.30.

Silver Forecast for today: the triggers that can cause the output for the specified border are on the US employment data. Positive information will serve as a pretext dollar purchases and send money to the minimum value of the current month - around $ 14.60.

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