Technical analyst and forex forecast on 03.02.2017: EUR / USD, GBP / USD, USD / JPY, GOLD, DAX, Brent
The growth of quotations on the eve of the euro was due to positive data from Spain showed a reduction in the number of unemployed, as well as taking advantage of dollar sales after the FOMC meeting. The main event of the day was the performance of the ECB Mario Draghi.
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Euro current situation
The euro opened in the "green zone" and the dollar continued its upward trend after. During the Asian session traders raised the price to the level of 1.0800, but stayed level after the opening of the European session. On the 4-hour chart, the price rebounded from the 50-EMA. In the future, the pair remains above the moving averages. EMA-50, 100-EMA-EMA 200 and pointing upwards. Resistance is at around 1.0850, and support - at 1.0800.
MACD indicator has increased and remained in the positive zone. RSI is in the overbought zone and facing up.
Forecast EUR / USD 03.02.2017
In the short term, the euro could save the bullish trend, if entrenched above 1.0800 resistance. In this case, the EUR / USD pair will continue to rise to the level of 1.0850. Sellers need to break the level of 1.0700 down to reduce the pressure of the bulls, and the level of 1.0600, to gain control over the market .
Forex. Technical analysis and forecast of the pair gbp usd GBP / USD today 03/02/2017
Bank of England's decision to maintain the previous level of 0.25% rate of the pound sterling weakened. In addition, the pressure exerted pessimistic data from the UK, showed a weakening business activity in the construction sector.
Pound the current situation
The weakening of the US dollar allowed the pound to reach new month highs on Wednesday. GBP / USD pair continued to rise during the night trading and met resistance at around 1.2700. Pound located within said level of the first half of the day as investors did not find reasons to pick it up. Before the opening of the American session the pair fell sharply to around 1.2600. On the 4-hour chart, the pair GBP / USD is above the moving average. EMA 50 and EMA 100 are directed upward, whereas the 200-EMA was neutral. Resistance is at around 1.2600, and support - at 1.2500.
The MACD histogram has increased, which indicates the strength of the sellers, the RSI was oversold.
Forecast GBP / USD on 02.03.2017
On the 4-hour chart there is an upward trend. The pair GBP / USD, is likely to continue to rise to the level of 1.2800, after the level of 1.2700 is broken. Failure to set new highs provoke the weakening of the pound and the beginning of a downward movement to 1.2600 and 1.2500 marks.
Technical analysis and forex forecast rate USD / JPY today 03/02/2017
Dollar Yen (USD / JPY) Current Situation
Pair USD / JPY remains under pressure due to increased pressure on the US dollar. During the Asian session the price sellers are moved down and struck level of 113.00. After the opening of European stock exchanges a couple of majors continued to decline and reached a mark of 112.50. On the 4-hour chart, the price rebounded from the 50-EMA. Subsequently, the pair settled below the moving average. Moving averages remained bearish trend. Resistance is at 113.00, and support - to 112.00.
MACD has decreased, which confirms the strength of sellers. RSI is in the oversold zone and was sent down.
Forecast USD / JPY on 03/02/2017
Bearish trend continues until the price is held below the level of 113.00. If the currency pair consolidates below 112.50, it is possible further weakening to a mark 112.00. In order to reduce the pressure of sellers, buyers need to return to the level of 115.00.
Forex Technical Analysis USD / CAD today 03/02/2017
On Thursday, the pair remained in the red zone. Sellers managed to reduce the price at the time of night trading. Pair USD / CAD retreated from 1.3050 mark and headed to the nearest level of 1.2980, where the dollar found support. After testing this area, the price rebounded from it and rose slightly. On the 4-hour chart, the asset is below the moving average. 50 EMA crossed down the 100 EMA. Moving averages remained bearish trend. Resistance is at 1.3050, and support - to 12,980.
The MACD histogram has decreased, which indicates the strength of the sellers. RSI came out of the neutral zone and remained in the oversold zone.
Forecast USD / CAD on 03/02/2017
Bearish trend remains in force at present. If the 1.2980 support is broken, price may continue to decline to the level of 1.2910.
Gold technical analysis and forex forecast XAU / USD on 02.03.2017
The negative impact on the dollar have milder comments the American regulator, rather than investors were expecting. In addition, the lack of confidence of market participants is growing against the background of concerns about the new US president's policy. The surge in volatility on the raw materials market was caused by the decision of the British regulator to keep the rate unchanged. Now investors have switched to reports on unemployment in the US.
Gold XAUUSD current situation
On Thursday, gold strengthened, trading near local highs against the dollar. Gold prices continued to rise in early trading and reached the mark of $ 1215 per ounce, where upward momentum briefly extinguished. In late European trading the precious metal continued to fight for positions and tested the resistance of 1220. Gold prices remained above the moving average on the 4-hour chart. 100-EMA-EMA 200 and headed up, while EMA-50 was flat. Resistance is at 1230 and support - at around US $ 1220 per ounce.
The MACD histogram has increased, which indicates strengthening of the positions of buyers. RSI remained in the overbought zone.
Forecast Gold (XAU / USD) on 02/03/2017
It can be expected that the bulls retain the advantage. A close above the level of 1220 will open the way for further growth in the region in 1230 dollars per ounce.
forecast for Brent oil prices today Technical analyst and forex 03/02/2017
Oil prices continue to rise against the background of the news about the increase in the reserves of "black gold" in the United States, while the volume of raw material production in the US dropped significantly last week.
Oil Current Situation
On Tuesday, the positive sentiment in the market there. Brent crude oil out of the side channel and headed to a mark of 57.00 in early European trading. Benchmark continued growth in the European session and later, this level was tested. Price traded significantly above the moving average on the 4-hour chart. 50-EMA-EMA 200 crossed in an upward direction. Resistance is at 57.50, and support - to 56.50 dollars per barrel.
Histogram rose, which is a signal to buy. RSI remained in the overbought zone, intending to climb higher.
Oil forecast for 03/02/2017
Bullish sentiment prevailed on Thursday. Bulls need to overcome the level of 57.50, to develop an upward movement to the level of 58.50 dollars per barrel.
DAX forecast and analyst for investors today 03/02/2017
In the European markets stocks showed mixed trading in response to the decision by the US Federal Reserve to leave interest rates in the same range. The profits were mining and energy sector, the results showed lower financial stocks.
DAX current situation
Sellers have retained control of the market and the DAX index continued to lose ground on Thursday. The index formed a gap down at the opening of tenders and tested mark 11600. Sellers could not overcome this level and were forced to retreat. Buyers returned to its morning losses to the opening of US trading. 4-hour chart shows that the index broke the 50 EMA down and tested the 100 EMA. Moving averages have retained a bullish bias on said time frame. Resistance is at around 11,700, and support - to 11,600.
MACD entered the negative zone. If the MACD will remain here vendors position strengthened. RSI came out of the neutral zone and headed south.
Investors DAX forecast for 03/02/2017
Price kept the bearish mood on the 4-hour chart. Downward movement starts as soon as the index falls below the support level of 11600. DAX could continue to decline to around 11500. A move above 11700 area indicate that expectations of a bearish scenario was wrong.
NASDAQ Investor Technical analysis and forecast for today 02/03/2017
The structure of growth remained at auction Thursday. Price went to the lower boundary of the rising channel on early trading. However, the rising trend line kept further decline, having beaten up quotes. Benchmark set daily high at around 5120 and rebounded from it. The benchmark rebounded from 50-the EMA on the 4-hour chart. The index remained above the moving averages, which were sent up. Resistance is at around 5140, and support - on 5100.
MACD indicator has been set at zero. If the histogram will go into negative territory, it will point to the strengthening position of sellers. If the MACD will return to positive territory, control of the market will go to buyers. RSI Oscillator was located in the neutral zone.
Forecast for NASDAQ investors on 02.03.2017
development bullish trading scenario expected. Confident breakdown resistance level of 5140 confirms the strong position of the buyers. The further growth of the index will be sent to the 5160 mark.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman
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