Forex forecast for today EUR / USD 01.11.2016: Euro for the British trying to get back to 1.10 - 1 November 2016 - free no deposit forex bonus
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Main » 2016 » November » 1 » Forex forecast for today EUR / USD 01.11.2016: Euro for the British trying to get back to 1.10
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Forex forecast for today EUR / USD 01.11.2016: Euro for the British trying to get back to 1.10

 

Forex forecast for today EUR / USD 01.11.2016: Euro for the British trying to get back to 1.10

Results of the last trading day:

On Monday, the euro / dollar closed slightly down. When prices fall to 1.0936, it recovered to the level of 1.0982. The pair rebounded from the minimum after the British pound on news that the head of the Bank of England Governor Mark Carney will remain at his post until the end of June 2019. On Thursday, he will hold a regular meeting of the Bank of England's interest rate. It will be followed protocol and the quarterly report on inflation.

 

 

 

Expectations for today:

In Asia, the euro yield 1.0967 dollars. Since the cross EUR / GBP is in union with the euro sellers, strengthening of the euro against the US dollar will be low-key. I think that the growth of quotations will start from the level 1.0947.

 

Keep an eye on the dynamics of the cross EUR / GBP exchange rate. Day will the British PMI. If you come out weak, cross euro / pound immediately replaced by a downward movement to upward. In this case, the price is unlikely to reach the calculated minimum. If the index will strong, then stick to my script. The euro will fall to 1.0947 and then bounce up for pound.

 

News of the day (GMT + 3): The  

11:15 Switzerland - Retail sales for September

11:30 Switzerland - PMI index in the manufacturing sector in October      

12:30 UK - index of business activity in the manufacturing sector in October

15:30 Canada - Change in GDP in August     

16:30 Canada - Index of business activity in the industry from the Royal Bank of Canada in October

16:45 US - Final data on the index of business activity in industry in October

17:00 US - index of business activity in the manufacturing sector from the ISM in October, the volume of construction costs in September, the index of economic optimism of consumers from IBD / TIPP in November, the price index for manufacturers of ISM for October        

19:00 Speech by Governor of the Bank of Canada Stephen Poloz

Intraday Forecast: minimum - 1.0947, maximum - 1.0977, closing - 1.0965.

 

Fig. 1 euro / dollar exchange rate, the time period. Data source: TradingView


On Monday, the price has not reached the goal of 3 points. As expected, the pair rebounded from the line carrying lb. The trigger made the news that M.Karni remains at the head of the Bank of England until June 2019.The growth of the pair was capped at 1.0981 from the falling EUR / GBP cross.


For the euro is 1.0966 dollars. Stochastic Oscillator is below generates a signal to buy euros. In principle, the euro may rise from the current level, but it would be better from 1.0947 / 50. Since Wednesday, the US Federal Reserve will announce the interest rate decision, I do not expect output prices today outside the range 1.0936 - 1.0992.  

 

According to the materials of Alpari Author Vladislav Antonov

 

FX4NEWS

 

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