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Main » 2016 » October » 10 » Technical analysis and forex forecast for today 11/10/2016: Euro, dollar, pound, yen, gold, oil
Technical analysis and forex forecast for today 11/10/2016: Euro, dollar, pound, yen, gold, oil


Technical analysis and forex forecast for today 11/10/2016: Euro, dollar, pound, yen, gold, oil

 The technical outlook of the euro dollar (EURUSD) 11.10.2016

Despite the fact that US markets are not working due to the holiday, the dollar was supported after the second presidential debate in the United States, which was leading Clinton again, while Trump's reputation has suffered so much that some colleagues urge him to quit the race on president of America.



Current situation

The single European currency is under pressure again. Level 1.1200 halted its recovery, the price turned around and went to the area of 1.1150. The EUR / USD is still in the downstream channel, and moves to its lower border.50 EMA 100 EMA and the 200 EMA protection level 1.1200. Price bounced off them and went down on the 4-hour chart. Resistance is at 1.1200, support - at 1.1150. 

The MACD Histogram has declined, which is a signal to sell. RSI is sent to the negative zone.


Forecast EUR / USD

If the pressure on the pair to continue the instrument EUR / USD may hold another testing level 1.1150.Confident break-down of this level will open the way to a further reduction in the area with a Target 1.1100 .


Technical outlook CRNC Pound Dollar (GBP / USD) 11.10.2016

On Monday, the US markets are closed on the occasion of the celebration of Columbus Day. Nevertheless, the pair GBP / USD is trading under pressure, as sentiment on the pound sterling continue to decrease the second consecutive week, contributing to the renewal of new lows.


Current situation

The pound showed no activity in trading Monday, after trading with a decrease in volatility, marked on Friday.Sterling attempted to form a consolidation in the 1.2400 during trading on Monday. 50 EMA 100 EMA and the 200 EMA slowed its downward movement on the 4-hour chart. Moving averages continue to decline. Resistance is located at 1.2500, support - at 1.2400. 

The MACD shows a divergence on the 4 hour chart. Histogram has declined, indicating that sellers gain positions.RSI is still in the negative zone.


GBPUSD forecast

GBP / USD pair is oversold, trading will depend on technical factors in the background of the lack of strong drivers. If the price rebounds from the current support, the pair could rise to the level of 1.2600. Renewed downward pressure to send quotes to historic lows in the 1.2000 area.


Technical dollar exchange rate forecast for the yen (USDJPY) 11.10.2016

Dollar rises across the market, as investors hoped that the US Federal Reserve will raise rates as early as this year.

Current situation

Currently the trend shows a clear predominance of bullish sentiment. On Monday, the pair USD / JPY traded with a predominance of sentiment in the purchase. Bearish momentum faded pair, the price rebounded from the level of 102.90 and grew. Price played all their previous losses in the European session. Accordingly, the 4-hour price is in the mid-term ascending channel, moving up from its lower limit. 50-EMA continued to grow, the 100 EMA and the 200 EMA show moderately bullish bias on said time frame. Resistance is located at 103.50 and 102.50 support area. 

The MACD shows a divergence on the hourly chart. Histogram rose, indicating the strengthening of customer positions. RSI is moving to the overbought zone.


USDJPY Forecast

According to the indicators recommended the opening of long positions, expected to further growth of the pair.Buyers can retest 103.50 and mark up the price to the highs of last week in 104.14.




Technical forecast pair NZD / USD 11.10.2016

Technically, the pair retains a short-term downward trend. The pair NZD / USD has formed a price break in trading Monday. Price was able to recover to the level of 0.7180, where traders have launched it. Kiwi was down during the Asian and European session and reached 0.7120 in early US. On the 4-hour chart, the moving averages (50, 100 and 200) are driven down. EMA-50 and 100-EMA-EMA 200 crossed in the downward direction. Resistance is located at 0.7200, support - at 0.7120. 

The MACD remained at the same level, which indicates the position gain sellers. RSI remains in the oversold zone.


forecast NZDUSD

Break of 0.7120 levels down can lead to losses to the level of 0.7050. For strengthening, the pair needs to close the day above the level of 0.7250. So far, all attempts to rise above the current support are considered corrective.



Rate of gold technical outlook on 11.10.2016

On Monday, gold was restored with a minimum of 4 months on weak employment data in the US, although the market still expects the Fed rate hike before the end of the year, supported by comments Mester.


The current situation

in the beginning of the week gold has formed a gap in the upstream direction. The price recovered in trading Monday after a sharp decline on Friday. Instrument XAU / USD shot up and the level of 1260 slowed the growth of a few points above it. A couple fell to the beginning of the American session. Moving averages retained reduction of the 4-hour chart. Resistance is located at 1260, support - to $ 1,250 per ounce. 

The MACD rose, indicating a weakening of the position of sellers. RSI remains in the oversold zone.



Gold forecast

drops below the level in 1250 points to the return of vendors on the market. Precious metals may continue to lose ground to the level of 1240.



The technical outlook for Brent crude on 10.11.2016

At the beginning of the week, oil prices were fixed up again, supported by growing optimism towards Russia and the OPEC agreement to establish the limits of production of "black gold".


The current situation

on Monday bullish sentiment prevailed on the oil auction. Despite the gap in the downward direction in the early Asian session, oil prices of Brent crude rebounded from the support 51.50 and traded in an upward direction. Oil prices continued to rise during the day, quotes struck 52.50 level and tested the 53.50 mark. Brent crude oil reached an annual peak during US trading. Prices continued to rise above the 50 EMA 100 EMA and the 200 EMA, which are directed upwards. Moving averages have accelerated its growth. All the moving averages are pointing upwards. Resistance is located at 53.50 and support - to 52.50 dollars per barrel. 

The MACD shows a divergence on the 4 hour chart. MACD remained in the positive zone. Histogram had grown, indicating that buyers gain positions. RSI close to overbought.


Oil is forecast for today

Bulls regained control of the market on Monday continued to raise the price. Their first target serves mark 54.50.





Analysis of Fort Financial Services


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