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Main » 2016 » November » 15 » Forex. Technical analyst, and the forecast for today 16.11.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent
Forex. Technical analyst, and the forecast for today 16.11.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent


Forex. Technical analyst, and the forecast for today 16.11.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent

 Technical outlook EUR / USD today 16/11/2016

Currency pair EUR / USD rose on Tuesday on mixed data from the EU. According to reports, the growth of the German economy slowed in the third quarter.However, it became known that the mood in the business environment has improved above the average forecast.

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The current situation in the euro 

at yesterday's auction currency pair remained in "red" zone. EUR / USD pair reached a 11-month low on Monday, before the rollback back yesterday. On Tuesday, the euro regained some of the losses incurred by the US against his opponent in early trading. Prices rebounded from oversold zone boundaries and able to rise to the level of 1.0800. The single currency tested only mentioned level and pulled back after the opening of the European session. The pair has broken through the 50-EMA on the hourly chart. All moving averages continue to decline.Resistance is at 1.0800, support - at 1.0750. 

Technical indicators remain strong oversold levels. MACD rose, indicating that sellers gain positions. RSI rebounded from oversold area. 

Forecast EUR / USD 16.11.2016

In case of breaking up the level of 1.0800, the recovery will continue trading instrument. In this case, the EUR / USD may test the level of 1.0850 and close the gap formed on Monday. Strengthening the seller to send the price down to 1.0650.



Technical outlook GBP / USD today 11/16/2016


Bidding for the pair GBP / USD took place under the influence of a weak report on consumer inflation. Support was provided data on selling prices producers that have demonstrated the strongest growth in recent years, which was triggered by the collapse of the British currency after the decision by most people in the UK to leave the EU structure. 

The current situation on the pound

on Tuesday the pound remained under pressure and continued downward movement. GBP / USD pair traded in a narrow range during the Asian session, and before the opening of the European session began to decline. The price decline has accelerated and has been able to test the level of 1.2400 in the middle of the European session.Trading instrument struck 200 EMA and the 100 EMA are tested during trading in Europe. Moving averages are neutral on the 4-hour chart. Resistance is located at 1.2500, support - at 1.2400. 

Technical indicators decreased in the positive zone. MACD has decreased, which indicates a weakening of customer positions. RSI is moving downward, confirming the strengthening of the position of sellers. 

Forecast GBP / USD on 16.11.2016

It is expected that the bears maintain control over the market in the next days. A close below 1.2400 support will enable further reduction of GBP / USD pair to 1.2300.



Technical forecast pair USD / JPY today 11/16/2016


The US currency weakened against other major currencies, however, kept in the range of a maximum of 14 years.Support for the dollar receives in connection with firming expectations regarding the tightening of monetary policy of the US Federal Reserve in December, as well as on the background of the growth of budget expenditures during the presidency of Donald Trump. 

Current situation of the Dollar Yen

Traders kept a couple of near fresh highs in early trading Tuesday. Prices are in a narrow range, limited privileges 108.00 and 108.50. Buyers have tried to raise prices higher, but met resistance sellers at each attempt to move up. Break above the buyers have been able in the US session and trading tool updated lows at 109.00. USD / JPY pair remains above the moving average on the 4-hour chart. Moving averages have maintained their bullish bias.Resistance is located at 109.00 and 108.50 support area. 

MACD has decreased, which indicates a weakening of customer positions. The RSI indicator is close to the overbought zone. 

Forecast USD / JPY on 16/11/2016

You can expect a slight technical correction. Movement below 108.00 will keep the bulls rush to continue the upward movement. A daily close below this level will reduce to 107.50. Break of this level will send the market to 107.00 and 106.50 marks.



Technical outlook gold rate today 16/11/2016


Restoration of the metal drag was limited amid speculation about a possible increase US Fed rate changes. 

The current situation in gold

Gold prices remained sideways with a tendency to growth in trading on Tuesday. During the day, the precious metal remained marked between 1230 and 1220 dollars per ounce. The couple tried to grow, but its recovery was halted mark 1230. Prices only tested that level and rebounded from it. Drage. metal spent the rest of the day in the middle of the range. Price remains below key moving averages, which are directed downwards on the hourly chart. Drag metal tried to overcome the 50-day EMA. Resistance is located at 1230 support - to 1220 dollars per ounce. 

Technical indicators kept the bearish momentum in the negative zone. MACD rose slightly, indicating a weakening of the position of sellers. The RSI continued consolidation in the oversold zone.


Gold Forecast 11/16/2016

To resume recovery pair XAU / USD need to get up and to gain a foothold above the 1230-1235 per ounce. In the long term gold may develop growth if recovered above $ 1250.



Oil Technical forecast for today 11/16/2016


Oil quotes on Tuesday showed growth, as traders expect OPEC countries the successful conclusion of an agreement to limit the production of "black gold". 

The current situation on the oil 

Yesterday, the market remained positive sentiment, short-term prices continued upward movement. Prices rebounded from oversold levels near 43.50 and headed up. Futures for Brent crude oil broke through the 44.50 level, and then continued upward movement. However, a new wave of interest in buying near the level of positive sentiment strengthened. The benchmark broke through the level and continued growth. On the hourly chart the price broke through the 50 EMA and the 100 EMA are tested, which repulsed them in the downward direction in the middle of the European session. After rollback buyers again came to the moving average and this time struck her in the upward direction. Prices retreated from the 200 EMA after the break level, which stopped their further strengthening. Moving averages continued to decline on the same chart. Resistance is located at 46.50 and support - to 45.50 dollars per barrel. 

MACD rose, indicating a weakening of the position of sellers. RSI moved up, moving away from oversold levels.


The forecast for oil prices 16/11/2016

Crude oil futures for Brent yesterday showed a positive mood. When the price is consolidating above the 45.50 resistance 46.50 will aim for further growth.




Analysis of  Fort Financial Services



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