Technical analysis and forex forecast for today 31.10.2016: EUR / USD, GBP / USD, USD / JPY, oil, gold
Technical analysis of the euro dollar today 10.31.2016
On the last day of trading, market participants crouched in anticipation of the publication of the report on US GDP for the 3rd quarter, which eventually turned out to be positive, but had no impact on the market. It is worth noting that the euro was limited due to negative data from the euro zone. In addition, the impact on the market has the fact that the FBI resumed its investigation, which is directly related to personal mail Hillary Clinton
Current situation Euro
Price showed slight recovery in the last Asian session and is trading slightly above the level of 1.0900 during the European session Friday. In the middle of the European session the euro quotes rushed up, breaking through the level of 1.0950 and headed towards 1.1000. Moving averages continued to decline on the 4-hour chart. The price has broken the 50 EMA and the EMA-100 tested at the same time-frame. Resistance is at 1.1000, support - at 1.0950.
The MACD remained in the negative zone. Histogram rose, indicating a weakening of the position of sellers. RSI moved up.
Forecast EUR / USD 31.10.2016
the euro is routed to the nearest resistance at 1.1000. In the case of continued growth, breaking 1.1000 the pair will go to 1.1050. Do not rule out retracement towards 1.0950.
Technical analysis and forecast for the pound dollar today 10.31.2016
At the end of the trading week, the British again left the market with no important macroeconomic reports.Support for the British currency continued to provide strong data on UK GDP, which came in the middle of the week. In addition, the dollar weakened somewhat against the backdrop of controversial statistics published in recent days.
Lb. Current situation
The pound remained under pressure in a sideways trading range on Friday. The price was below the level of 1.2200 the day. During the day, quotes pound tested the 1.2100, after trading tool rebounded from the level and returned to the area of 1.2200. Moving averages continued downward movement on the 4-hour chart. Resistance is located at 1.2200, support - at 1.2100.
The MACD is in the negative zone. Histogram has declined, indicating that sellers gain positions. RSI is in the oversold zone.
Forecast GBP / USD 31.10.2016
Despite the partial recovery on Friday the pair GBP / USD remains under pressure. However, the breakdown of the resistance 1.2200 would open the way to 1.2250. At the same time, buyers will try to take the initiative in their hands and get quotes to 1.2100.
Technical analysis and forecast of the dollar, the yen on 31/10/2016
The yen remained largely stable on Friday after the publication of news about the package potreb.tsen index.Recent reports reached the level of forecasts and did not cause market response, the exception was the positive data on household expenditure, which attracted the attention of traders.
Yen. Current Situation
At the auction on Friday the pair USD / JPY remained near recent highs. Buyers have attempted to test the level of 105.50 during the European session. Unsuccessful test level has reduced to 105.00, and the consequent testing 104.50. Moving averages in the 4-hour chart are directed upwards. Resistance is located at 105.00 and 104.50 in the field of support.
The MACD is in the positive zone. Histogram remains the same, indicating that the strengthening of customer positions. RSI is in the overbought zone.
Forecast USD / JPY 31.10.2016
If the price overcomes 104.50 level and consolidates below, the decline may continue to around 104.00.
Technical analysis and forecast of oil prices 31/10/2016
Despite stable trading on Friday at Brent, downside risks remain relevant. On the oil market pushing uncertainty regarding the agreement between the OPEC countries on the reduction of oil production in order to weaken the global glut in the market, which remains the last two years. Oil Current situation Crude oil futures for Brent on Friday remained under pressure. Oil prices remain in the short-term descending channel, while near the mark of 50.50 during the European session Friday. Futures for Brent crude rebounded somewhat after a sharp decline, marked on Thursday. However, the recovery was weak and was due to profit taking. During the US session, oil prices declined by testing 49.50 at the end of the day. 100-EMA-EMA and 50 move downward, the EMA 200 is directed upward. Resistance is located at 51.50 and support - to 50.50 dollars per barrel. The MACD is in the negative zone. Histogram has declined, indicating that sellers gain positions. RSI is in the oversold zone.
Oil Forecast 10.31.2016
It is expected that oil prices of Brent crude at first be directed to 49.50. After overcoming the first target, the price may continue to decline to a level of 48.50.
Technical analysis and forecast gold rate today 31/10/2106
Demand for the precious metal rose after the weak report on orders for durable goods in the United States.Pessimistic data back uncertainty about the December US Fed raising rates. Gold Current situation bearish sentiment on the market was dominated in the first half of the day. Gold prices have met an obstacle in the vicinity of $ 1270 per ounce, and this level has limited their further growth. Gold futures rebounded from that mark and fell, remaining close to 1265 before the opening of US trading. Precious metals rebounded from the level in 1265 in the US session, the price jumped to 1270, breaking the level of precious metals continued to rise, testing the 1280 dollars per ounce. Quotes of gold broke through the MA are 50 and 100 on the 4-hour chart. 50 EMA and 100-neutral the EMA, the EMA-200 is directed downward. Resistance is located at 1280, support - at 1270 dollars per ounce. The MACD indicator is located on the ground level. If you go down in the negative zone, it will point to the strengthening position of sellers. If the MACD will return to positive territory market control will pass to the buyers. RSI is in the neutral zone.
Gold Forecast 31.10.2016
It is expected that the pair may head towards resistance at 1280. In the event the customer their next target will be 1290 dollars per ounce.
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