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Main » 2017 » January » 4 » Technical analyst and forex forecast for today 05.01.2017: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent
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Technical analyst and forex forecast for today 05.01.2017: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent

 

Technical analyst and forex forecast for today 05.01.2017: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent

Technical analysis and forex forecast of the euro dollar (EUR / USD) as of today 05/01/2017


After the release of positive releases from the Euro zone increased demand for the euro. According to Eurostat reports, inflation in the EU rose at the fastest pace for a period of more than 3 years, ex. Important market participants focused on the publication of minutes of meetings of the ECB on monetary policy.

 

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Euro Dollar current situation


From a technical point of view the pair remains in an intermediate term descending channel, having settled at its lower edge. However, on the 4-hour chart, the weak upward potential was observed in early trading. The euro took a weaker dollar and some regained his position on the recent losses. Buyers raised the price to the level of 1.0450, where upward momentum faded in the middle of the European trading session. After testing level, the euro slightly rolled back, remaining in his district. On the 4-hour chart, the price tested the 50-EMA. 100-EMA-EMA 200 and directed downward, while the 50-EMA remained neutral. The EUR / USD was under the moving averages on the same timeframe. Resistance is located at 1.0450, and 1.0400 support.

MACD rose, reflecting the weakening of the position of sellers. RSI came out of the oversold zone and entered the neutral zone.


EUR / USD forecast for 05/01/2017


The euro will remain under pressure at least until then, until you overcome the level of 1.0500. The breakdown level will give a boost to the further strengthening of the single European currency. We believe that customers will push majeure pair to 1.0500 level. Lowering the price to the level of 1.0400 will point to a further weakening of the pair EUR / USD. Level 1.0350 will be the first purpose of the sellers.

 


Forex Technical Analysis and Forecast of the pound dollar (GBP / USD) as of today 05/01/2017


Currency Albion relatively limited decline in American support received after the release of a positive report on business activity in the construction sector, growth surpassed forecasts. Today, the focus of the market - the index of business activity in the services sector in December, which is expected to see a slight decline.


Pound Dollar current situation


Sterling recovered, but retained a weakness against the US dollar, trading on Wednesday below $ 1.2300. Traders raised the price only in early trading. GBP / USD pair rebounded to the level of 1.2285, where upward momentum waned after the opening of the European session. On the 4-hour chart, the price tested the 50-EMA during the Asian session on Wednesday. The price has not overcome this level and remained significantly below the moving averages on the same chart. Moving averages are preserved bearish bias. Resistance at around 1.2300, and support - 1.2200.

The MACD was located on the zero line. If the histogram returns into negative territory, it will point to the strengthening position of sellers. If the MACD enters into positive territory, control of the market will go to buyers. The RSI indicator remained in the neutral zone.


GBP / USD Forecast 01/05/2017


The technical picture shows the predominance of bearish sentiment. It is recommended to open short positions with the first target at 1.2200. Once the price consolidates below the first target, the downward movement may return to the level of 1.2100. However, if the dollar continues to weaken across the market, the pair may continue to rebound from two-month lows. To neutralize this pressure customers to overcome the level of 1.2300. After the breakdown of this level the pair can be restored to the level of 1.2350.

 


Forex Technical Analysis and Forecast of the dollar, the yen (USD / JPY) 01.05.2017 Today


The Japanese currency has ignored the positive indicators of the PMI from the Nikkei, while remaining under pressure from the opening of the trading session. Nevertheless, cautious trading on stock markets contributed to the decline in risk appetite, supporting the yen as a safe haven currency. In addition, the decrease in profitability of US securities put pressure on the dollar late in the trading environment.


yen Dollar current situation


From a technical point of view on the pair USD / JPY remains neutral-bullish. The pair was not able to continue the recovery that was observed during the Asian session, when buyers met strong obstacle in the area of ​​118.00, and were forced to retreat. The pair fell, offset by all the daily achievements. On the 4-hour chart, the price during the day twice tested the 50-EMA. Traders could not overcome the line that each time repulsed attempts to breakdown. 100-EMA-EMA and 200 are directed upward, whereas the 50-EMA was neutral. The price was trading above the moving average for the day. Resistance is located at 118.00, and 117.00 support.

MACD was trading in an upward direction. RSI came out of the overbought zone and entered the neutral zone.


USD / JPY forecast for 1/5/2017


If customers retain control cash market, the pair may rise initially to around 118.00. Target potential customers it serves mark 119.00.

 


Forex Forecast USD / CAD exchange rate as of today 05/01/2017


Positive trends in the oil market have supported the commodity currencies, including the Canadian dollar. 


USD / CAD The current situation


Dollar recovery during Asian session to a halt in the area of ​​1.3470, where the pair met new offery and fell below the support level of 1.3400 in early European trade. Sellers continued gaining ground during the session in Europe and sent the couple to a mark 1.3260. Downward pressure was extinguished in the area of ​​1.3300. Price bounced off this mark in the area of ​​1.3330. The price has broken down the 100 EMA and the 200 EMA on the 4-hour chart. EMA 50 and EMA 100 are directed upward, whereas the 200-EMA was neutral. Resistance is at 1.3400, and 1.3330 support.

The MACD histogram has decreased, which indicates a strengthening of the positions of sellers. The RSI remains in the oversold zone.


USD / CAD Forecast 01/05/2017


If the price is locked below the support level of 1.3330, sellers can continue the downward trend in the short term. Potential targets are sellers at around 1.3260 and 1.3190. It is possible, and recovery of the pair on profit taking. USD / CAD pair may recover some of the losses if the rise above 1.3330.

 


Technical Forex Analysis for Gold today 01/05/2017


Two consecutive session after the holidays, gold was traded on a positive note, despite the widespread strengthening of the American currency. the market focus of attention is directed to the protocols of the December meeting of the US Federal Reserve.


The current situation in gold


On Wednesday, the pair XAU / USD opened the trading environment in the "green" zone. Traders struck the level in 1160 and went to the area in 1170 during the Asian session. The pair could not rise higher and pulled back immediately after the test at this level. On the 4-hour chart, the price has tested the 200 EMA. 100 EMA and the 200 EMA preserved bearish bias, while the 50-EMA upward. Resistance was located at the level of 1160 and to $ 1,150 per ounce of support.

MACD has decreased, which indicates a weakening of customer positions. RSI Oscillator is consolidated in the positive zone.


Gold Forecast 05/01/2017


Players should sell gold is recommended only if the price drops below 1150. Then the precious metal is heading to US $ 1,140 per ounce

 


Technical analysis and forecast of oil prices (OIL) today 05/01/2017


Oil quotes were traded in the highs, getting support from the come into force of the contract OPEC and other oil producers to restrict production. The growth of oil is limited, as investors await weekly data on oil reserves in the United States. 


Oil Current Situation


Brent crude oil was able to return a small portion of its recent losses during the Asian session on Wednesday. The Bulls, however, met an obstacle in the vicinity of 56.13. From this level, the price rebounded down during the European session. Benchmark trying to overcome the level of 55.50 dollars a barrel during European trading, but to no avail. The price has broken the 50 EMA and the 100 EMA are tested during the European session. Oil prices tried to break through the 100 EMA down during the day. All the moving averages have kept upward slope on the 4-hour chart. Resistance is at 56.50, and at 55.50 dollars per barrel support.

The MACD was located on the zero line. If the histogram will enter the positive zone, it will point to the strengthening of the positions of buyers. If MACD returns into negative territory, control of the market will go to the sellers. The RSI remains in the oversold zone.


Oil Forecast 05/01/2017


After closing above the resistance 56.50, the price may continue its upward movement to the level of 57.50. Confident break-down level of 55.50 could lead to a reduction in the area of ​​54.50, and then to the level of 53.50 dollars per barrel.

 


DAX forecast and analyst for investors today 05/01/2016


European stock markets traded in the red as investors analyzed the preliminary inflation figures presented from the eurozone.


DAX analysis


Bidding for the index of the medium developed negatively. Bears took control of the DAX index, and sent him down. Benchmark departed from the level of 11,600 and went to the area of ​​support 11500. The price has continued to trade above the moving average on the 4-hour chart. Moving averages are preserved bullish bias. Resistance is located at 11600, and support - at the level of 11,500.

MACD has decreased, which indicates a weakening of the position of the buyer. The RSI remains in the oversold zone.


DAX forecast for today 05/01/2017


Downward correction will start as soon as the German DAX falls below the support level of 11500. Then we can expect the decline to around 11,400.

 


S & P 500 Index and the analyst forecast for today 01/05/2017


The US stock market continued to rise in trading Wednesday on the eve of publishing the Fed minutes, waiting to hear from the regulator as possible follow-ups stakes.


S & P 500 Current Situation


The S & P500 rose and returned almost half of the two-week losses. Market participants raised the price to the level of 2260, which halted growth. The benchmark tested the level during the New York session and continued attempts to overcome it during the American session. On the 4-hour chart, the price has tested the 50 EMA and the 100 EMA. 50 EMA crossed down the 100 EMA. 100-EMA-EMA and 200 are directed upward, whereas the 50-EMA remained neutral. Resistance is located at the index at the level of 2260, support - 2240.

The MACD was located on the zero line. If the histogram will enter the positive zone, it will point to the strengthening of the positions of buyers. If MACD returns into negative territory, control of the market will go to the sellers. RSI came out of the neutral zone and headed north.


S & P 500 forecast: 01/05/2017


Bullish sentiment are gaining popularity. All attention is now directed at the resistance level of 2260. The breakdown of this mark will direct attention to the area in 2280 and further to around 2300.

 

 

* Analytical review of the broker of Fort the Financial Services  , analyst Alexander Kofman

 

 

 

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