Technical analysis and forex forecast on 29.09.2016: EUR / USD, GBP / USD, USD / JPY, oil, gold, indices
Technical analysis and forecast of the pair EUR / USD 29.09.2016
On Wednesday, the European currency recovered in tandem with the US dollar after a sharp downturn due to concerns about the financial system of the European Union.
Current situation
The EUR / USD showed a mixed trend in trading environment. Price rose and dropped in the region of 1.1200. The euro was under pressure in the first half of the day, but was able to recover to the beginning of the American session. Price attempted to break through the 50 EMA 100 EMA and the 200 EMA en 4-hour chart. The breakdown has been short and the price is back above them. Moving averages are neutral. Resistance is at 1.1250, support - at 1.1200.
The MACD indicator is located on the ground level. If the histogram will go into negative territory, which will point to the strengthening position of sellers. If the MACD will return to positive territory, control of the market return to consumers. RSI is neutral.
The forecast of the euro dollar today
in the short-term picture remains mixed. A further reduction is limited support at around 1.1200. If the EUR / USD pair will make another attempt and breaks this level, the price may be reduced in the area of 1.1150. The nearest Target bulls favor resistance in the 1.1250 area.
Technical analysis and forecast pair GBP / USD on 29.09.2016
Monetary instrument pound / dollar came under pressure after BoE comments representative Shafiq, who noted the likelihood that the regulator will have to at some point resort to additional stimulus measures. According to her, the Bank of England may expand asset purchase program.
Current situation
Trend objectively bearish. Sellers control the market and are not going to take positions. At the auction environment steam demonstrated low volatility. The price remained near the level of 1.3000 in anticipation of new drivers. Growth attempt was stopped by 50-EMA, which is directed downwards. Price is trying to overcome the 50 EMA for the further growth. 50 EMA 100 EMA and the 200 EMA maintained its downward movement.Resistance is located at 1.3000, support - at 1.2900.
The MACD is in the negative zone. Histogram rose, indicating a weakening of the position of sellers. RSI goes to overbought.
Forecast pound dollar today
overall mood remains bearish, and we can expect a decrease in the area of 1.2950. It is also possible, and recovery in the area of 1.3100.
Technical analysis and forecast of the pair USD / JPY 29.09.2016
The US currency rose against the yen on Wednesday, as market participants began to take profits. Basically, growth dollar provided a positive sentiment in the market after the debate between the candidates for the US presidency.
Current situation
In Wednesday trading on the pair were neutral. The dollar attempted to recover, but was stopped in the area of 100.80. Price spent a day a few points above the current support at 100.40. 50-EMA stopped the current corrective recovery. The price has tested the line and pulled back slightly back. 50 EMA 100 EMA and the 200 EMA are a strong bearish bias. All moving averages continue to decline. Resistance is located at 101.40 and 100.40 in the area. Support
MACD is in the negative zone. Histogram rose, indicating a weakening of the position of sellers. RSI is located in the neutral zone.
Forecast of the dollar, the yen today
can be expected to break support 100.40 and continue with the next reduction targets are in the area of 100.00.
Technical analysis and forecast gold course on 09.29.2016
On Wednesday, gold continued to decline, which caused a loss of investor interest in safe havens currencies after the first debate between the candidates for the presidency in the United States.
Current situation
Bidding for the XAU / USD pair on Wednesday passed in a negative mood. The price remained under pressure and has continued to decline. Sellers were able to reduce the price of the field in 1326 to around 1322. Downward movement stalled above support 1320. At the 4-hour chart, the 50 EMA 100 EMA and the 200 EMA turned down.Resistance is located at 1330 support - to $ 1,320 per ounce.
The MACD has decreased, which indicates the strengthening of customer positions. RSI approaches oversold territory.
Gold forecast for today
If the level of 1320 will keep a decrease, the price of the precious metal can start an upward correction. In this case, we can expect the price movement in the area of 1330-1335. If the support is broken, prices may fall to the level of 1310.
The technical outlook for oil prices 09/29/2016
Futures on the "black gold" rose on Wednesday after the previous day was recorded a decrease of 3%, triggered by switching market attention to the results of the meeting of major oil producers in Algeria.
Current situation
After a short consolidation during the Asian session, oil prices of Brent returned to growth. After the breakdown of the level of 46.50 the price rose to 47.50 dollars per barrel. However, it turned out to be a short-term bullish momentum and quotes back below 46.50. The overall picture shows a predominance of bearish sentiment. Prices for Brent crude tested the 50-EMA on the 4-hour chart. EMA 50 and EMA 100 neutral EMA 200 directed upwards.Resistance is located at 47.50 and support - to 46.50 dollars per barrel.
The MACD indicator is located on the ground level. If the histogram will go into negative territory, which will point to the strengthening position of sellers. If the MACD will return to positive territory, control of the market return to consumers. RSI is neutral.
Oil is forecast for today
If the price was fixed above the level of 46.50, quotations recovery can continue. 47.50 level serves the first target. Confident breakout of this level will open the way to the area of 48.50. For the development of the downward movement of quotations should be back below 46.50.
Technical outlook NASDAQ 29.09.2016 Index
US indices traded in flat in early trading Wednesday on the eve of Yellen speech and the OPEC meeting results.
The current situation
index began trading environment with the flat. Price consolidate their achievements after the rally yesterday.NASDAQ spent the day near the level of 4865, moving up and down in the area at this level. Price remains above the 50 EMA. EMA-50, 100-EMA-EMA 200 and directed upward. Resistance at index 4865, support at 4835.
the MACD is in the positive zone. Histogram rose, which is a signal to buy. RSI is approaching overbought territory.
Forecast NASDAQ index
price may slightly roll back to the area 4835. If the upward pressure will continue, the index can grow. Target buyers will next level 4890.
Based on materials from Fort Financial Services
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