Technical analysts and Forex forecast for today 05.12.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent
Technical analysis of forex euro dollar (EUR / USD) as of today 12/05/2016
At the end of the trading week the European currency slipped against the dollar, as has come under pressure desheveyuschih German bonds. It should be noted that investors in European markets crouched in anticipation of the referendum in Italy. Meanwhile, the rise in the dollar limited the weak performance of the US labor market.
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Euro current situation
On Friday, the positive sentiment persisted on the market. Before the opening of the European session the euro met an obstacle in the area of 1.0700 and rebounded from this level after a two-day rally. The pair fell and tested the 1.0650 mark after the opening of the European session and remained close to this level before the beginning of the American session. New interest in buying sent the price to 1.0700. On the 4-hour chart, the price rose and tested the 100 EMA in the European session. The EUR / USD bounced off the moving average, and went down before the opening of US trading. Resistance is at 1.0700, support - at 1.0650.
The MACD histogram had grown, indicating that buyers gain positions. RSI remained in the overbought zone.
Forecast EUR / USD 05.12.2016
That the pair remain bearish expected. Break down the level 1.0600 could contribute to a downward movement in the area of 1.0500. Alternatively viewed the probability of short-term growth to the level of 1.0750.
Technical analysis and forecast for the pound dollar (GBP / USD) as of today 05/12/2016
The pound rose against the dollar after it became known that the index of purchasing managers in stroysektora rose to a maximum of 7 months, while analysts forecast a decline. Currency Pair also supported the general weakening of the US dollar.
Pound the current situation
After the upgrade, the November high of 1.2700, the pound weakened to 1.2600 support, where buyers have found strong support and took a break. Traders have attempted to develop a new wave of purchases of sterling during the American session. The pair rebounded from 1.2600 level and went to the recent highs. Price continued trading significantly above the moving averages, which are directed upwards. Resistance is located at 1.2700, support - at 1.2600.
MACD remained at the same level, which indicates the strengthening of customer positions. Oscillator RSI remained close to the overbought zone, intending to climb.
Forecast GBP / USD 05.12.2016
If the current resistance is broken, the price may rise above that could send a couple of the area of 1.2800. Back below 1.2600 will put into question the power of buyers, and can contribute to the development and sales continue to 1.2500-1.2400 decline.
Technical analysis and forecast of the dollar, the yen (USD / JPY) 05.12.2016 Today
At the start of the day, the dollar / yen refreshed highs, but later changed the motion vector. Despite the weakness of the yen against the background of rising oil prices, the currency pair quotes rolled downstream.
yen Dollar current situation
USD / JPY pair has remained in the uplink. Buyers fixed their income, and collect power for the new upward impulse. On Friday, the price has moved away from the upper boundary of the channel and moved to the area of 113.00. Moving averages are slightly changed from Friday's trading. Price remains above the moving averages, which are directed upwards. Resistance is located at 114.00 and 113.00 support area.
MACD has decreased, which indicates a weakening of customer positions. RSI moved away from the overbought area.
Forecast USD / JPY 05.12.2016
In case of breaking up the level of 114.00, the following Target will mark 115.00. However, failure to update the highs can contribute to the wave of sales and a decrease in the area of 112.00.
Technical analysis and forecast rate of gold (XAU / USD) as of today 05/12/2016
precious metal Quotes ignored the weakening of the US currency, as the market was dominated by the desire to take risks on the background of oil purchases.
Gold is the current situation
Gold prices were trying to determine the direction in trading Friday, remaining between the current support and resistance. Quotes of the metal moved up and down between 1180-1170 during the day. The pair continued to trade well below the moving average. The price has broken the 50 EMA and stopped halfway to the 100 EMA on the hourly chart. Moving averages are preserved bearish bias. Resistance is located at 1180, support - at 1170 dollars per ounce.
MACD was located in the negative zone. If the MACD will remain in the negative zone, sellers position strengthened. RSI was located in the neutral zone.
Gold Forecast 05/12/2016
Now it is recommended to maintain neutrality. It is expected that in the coming days will continue side trades.
Technical analysis and forecast of oil prices today 12/05/2016
At the end of the week quotes Brent turned down, as investors began to take profits. Pressure on the US benchmark have doubts about the effectiveness of the last contract of the largest oil producers. However, prices held above $ 50 dollars per barrel, which is a signal of positive sentiment in the market.
Oil Current Situation
Quotes of oil on Friday traded mixed. Price dropped in the European session and found support above $ 52.50 per barrel. The price rebounded from this level and went up during the US session. Benchmark returned to a 16-month high after the opening of US trading. The price was trading above the 50 EMA 100 EMA and the 200 EMA on the 4-hour chart. EMA-200 was neutral, while EMA 50 and EMA 100 went up. Resistance is located at 55.50 and support - to 53.50 dollars per barrel.
MACD remained at the same level, which indicates the strengthening of customer positions. RSI consolidated in the positive zone.
Oil Forecast 05/12/2016
If the positive sentiment continues, oil prices will continue to rise to the level of 55.50. At the same time steady break-down level of 53.50 could open the way to the area of 50.50 dollars per barrel.
Technical forex forecast is provided by Fort Financial Services