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Main » 2016 » November » 4 » Technical analysis and forex forecast for today 04.11.2016: Euro, dollar, pound, yen, gold, oil
Technical analysis and forex forecast for today 04.11.2016: Euro, dollar, pound, yen, gold, oil


Technical analysis and forex forecast for today 04.11.2016: Euro, dollar, pound, yen, gold, oil

 Technical analysis and forecast of the dollar euro 11/04/2016

On Thursday, the European currency retreated to the US dollar, which resulted in the opening of quotations to the level of the previous session. Change the upward trend on the opposite explained by profit-taking by investors, the fall in prices of cross-pair euro / pound, as well as the strengthening of the dollar due to the recession worries regarding the results of the presidential elections in America.



The current situation in the euro

trend bullish for the pair, and the bulls continue to confidently lead the market. The EUR / USD remains in ascending channel at auction on Thursday, trading in the 1.1100 area during the European session. Even after the opening of trading in Europe, the pair changed to bearish sentiment, and the price has moved away from recent highs. Sellers lowered the euro below $ 1.1100, trying to take control of the market into their own hands.The pair declined and approached the level of 1.1050 to the beginning of the American session. The moving averages have turned up on the 4-hour chart. Resistance is at 1.1100, support - at 1.1050. 

The MACD is in the positive zone. Histogram has declined, indicating a weakening of the position of the buyer. RSI is in the overbought zone.


Forecast EUR / USD today 11/04/2016

confidently struck down the lower boundary of the rising channel in the area of 1.1050 will indicate completion of the upward momentum, and then the downward movement will continue in the area of 1.1000. Further strengthening of the dollar will be possible, if the price will overcome the level of 1.1125.



Technical analysis and forecast for the pound dollar on 11/04/2016


The British currency strengthened against the publication of optimistic report on business activity in the services sector. Additional support for the pound was after the Supreme Court announced its decision on the need for parliamentary approval to initiate the output state of the European Union. The current situation on the poundfor the pair trades GBP / USD opened on a positive note, and during the day the advantage was on the side of the bulls. Pound was in the middle of a new bullish wave during the European session. Traders have strengthened the pound, and the couple went to the 1.2500 resistance. After the breakdown of the 100 EMA price continue to move in a northerly direction to the 200 EMA and reached this moving average to the opening of US trading.Resistance is located at 1.2500, support - at 1.2400. The MACD is in the positive zone. Histogram rose, indicating the strengthening of customer positions. RSI is in the overbought zone.


Forecast GBP / USD today 11/04/2016

If the bullish sentiment for the pair GBP / USD will remain, a trading tool can continue to restore the level of 1.2500.



Technical analysis and forecast of the dollar, the yen on 11/04/2016


During the prevailing uncertainty, investors sought refuge in such currencies as the yen. As a result of the election race in the United States the US dollar loses its position, stepping in front of the Japanese currency. The current situation on the USD / JPY USD / JPY pair remains near the critical oversold line at auction Thursday. A pair of currencies is still in short-term descending channel. The price recovered somewhat during the Asian session and continued to strengthen during the European session on Thursday. Recovery tool was held against the backdrop of fixing sellers profits after the recent sharp decline. Buyers raised the price to 103.50 resistance, returning a small part of their losses. The pair USD / JPY approached the 200-EMA before the opening of the US session. EMA-200 slowly rotates downwards, while EMA 50 and EMA 100 has moved in a downward direction.Resistance is located at the level of 103.50, support - at 103.00. The MACD is in the negative zone. Histogram has declined, indicating that sellers gain positions. RSI is in the oversold zone.


Forecast USD / JPY today 04.11.2016

One can expect that the dollar will continue to recover and test the level of 103.50. On the other hand, a return below 103.00 opens the way to a reduction in the area of 102.50.



Technical analysis and forecast of USD / CAD on 04/11/2016


The Canadian dollar remained neutral in relation to the US currency, which has not received the support of the US employment report. In addition, lower oil prices have a downward pressure on the product range CAD. The current situation is neutral phase, which began last week, is still ongoing. Pair USD / CAD remains near weekly lows at 1.3360 area. Price moved in different directions between the marks 1.3400 1.3350.Skolzyaschie averages are neutral on the hourly chart. The pair moved down until I met an obstacle near the 200 EMA. Moving average price repulsed, who returned to the area of the 50 EMA and the 100 EMA. Resistance is located at the level of 1.3400, and support - at the level of 1.3330. The MACD indicator is located on the ground level. If the histogram will remain in positive territory, it will point to the strengthening of the positions of buyers. If the MACD will go into negative territory, control of the market will go to the sellers. RSI is in the neutral zone.


Forecast USD / CAD today

for the pair sentiment will remain bullish as long as price is trading above $ 1.3330.



Technical analysis and forecast gold course on 04.11.2016


Gold futures turned in a downward direction on Thursday as anxiety about the US election weakened somewhat, although still restrict the rising dollar. It notes that the US Federal Reserve on Wednesday said the potential for monetary tightening, supporting the national currency. The current situation in gold prices rose on Thursday morning and were able to break the resistance of $ 1,300 per ounce, and then suddenly turned around and the price fell sharply. Precious metals went to around 1290 and broke this level in the middle of the European session.After the breakdown of the marks price continued to fall, and tested the level of 1285. The pair XAU / USD approached the 200 EMA, moving neutral on 4-hour chart. 50 EMA crosses the 100 EMA in the upward direction, both lines are moving in a northerly direction. Resistance is located at 1300 support -. At 1290 dollars per ounceMACD is in the positive zone. Histogram has declined, indicating a weakening of the position of the buyer. RSI came out of the overbought zone and headed down.


Gold forecast for today 11/04/2016

If bearish sentiment will prevail in trading of gold, a pair XAU / USD is heading to a mark of 1280 dollars per ounce.



Technical analysis and forecast of oil prices 04/11/2016


Oil quotes again turned up after declining to a minimum of 5 weeks. The growth of prices for "black gold" have contributed to concerns about the failure of supply from Nigeria after combat attacks on the pipeline. The current situation on the oil auction on Thursday were mixed. Brent crude oil prices the gap formed in the upstream direction at the opening of tenders and quotations continued to rise in the second half of the day.Futures on crude oil could reach the level of 47.50, which stopped their further recovery in European trading.Price somewhat rolled back down and spent the rest of the day below the level of 47.50. EMA-200 is still moving upward, while EMA 50 and EMA 100 downwards. 50-EMA-EMA 200 intersects the downstream direction.Resistance is located at 47.50 and support - to 46.50 dollars per barrel. The MACD is in the negative zone.Histogram remains the same, which indicates the position gain sellers. RSI is in the oversold zone.


Oil is forecast for today 11/04/2016

Now all attention is focused on the resistance of 47.50 dollars per barrel. Break of this level will ease downward pressure up, opening the way to 48.50. If the level of stand, oil prices continue to decline to 46.50 and 45.50 marks.




  Fort Financial Services


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