Technical analysts and Forex forecast for today 13.12.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent
On Monday, the European currency showed steady growth, which was due to a downward correction of the dollar and leaving traders against the risk. The development of such a pattern increased the demand for the euro as the currency of funding.
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Euro Dollar current situation
Technically, at auction on Monday the pair remained in a downward channel. The price rebounded from the level 1.0525 and rose to 1.0600 area. Buyers have overcome this level and continued to rise to the level of 1.0650. On the 4-hour chart, the price has tested the 100 EMA and rebounded from it. Meanwhile, moving averages preserved bearish bias. Resistance is at 1.0650, support - at 1.0600.
MACD remained at the same level, indicating a strengthening on zitsy sellers. The RSI indicator has entered the neutral zone.
Forecast EUR / USD 13.12.2016
If you remain bearish, it is recommended to open short positions when the price falls below 1.0600. Sellers can send the price to 1.0500. Euro continues upward movement, if it remains above the level of 1.0600.
Technical analysis and forecast for the pound dollar (GBP / USD) as of today 13/12/2016
At the start of a new week the US dollar retreated from highs against its major opponents. Nevertheless, the decline in the US currency is limited, as the US Federal Reserve on Wednesday may decide to change the rate to 0.75%.
Pound Dollar current situation
The pound remained weak against the US dollar, but found support near 1.2600. This level is limited downward movement of the pair. Some buying interest remained in the area of 1.2550. Buyers attempted to recover and break the level 1.2600, but failed to continue to grow and fixed above it before the opening of US trading. Price tested the 50-EMA on the 4-hour chart. The pair remained between 50 and EMA-EMA 100 in the same graph. All the moving averages are bullish preserved. Resistance is located at 1.2700, support - at 1.2600.
MACD remained at the same level, which confirms the strengthening position of sellers. RSI moved up.
Forecast GBP / USD 13.12.2016
If the price consolidates below support level 1.2600, the downward movement may continue in the short term.Target Potential sellers are the levels of 1.2500 and 12400. A break up the mark 1.2700 will open the way to 1.2770.
Technical analysis and forecast of the dollar, the yen (USD / JPY) 12.13.2016 Today
Earlier this week, Japan published a report on machinery orders in October, which showed better than expected growth, which in turn is a signal of an increase in capital expenditure. Meanwhile, the market turned again to the risks, supported by a favorable outcome of the meeting of OPEC and other oil producers, which reduced demand for the yen as a safe haven currency.
yen Dollar current situation
In USD / JPY pair on Monday maintained the mood to buy. The price rebounded from the level of 116.00 and came back to 115.00. On the 4-hour chart, the pair was fixed above the moving averages, which have kept the upward direction. Resistance is located at 116.00 and 115.00 support area.
The MACD histogram has increased, which indicates the strengthening of customer positions. RSI remain near overbought levels.
Forecast USD / JPY 13.12.2016
Now all the attention is directed at the resistance level of 116.00. Break of this level will direct attention to a mark 117.00
Technical analysis and forecast rate of gold (XAU / USD) as of today 12/13/2016
New week for gold started in a negative way, quotes reached lows for the period more than 10 months. The appeal of the precious metal lost against the background of market confidence that the Fed will change the interest rate from 0.50% to 0.75% at the next meeting.
Gold is the current situation
In early trading Monday gold price continued to fall. By setting session lows in the $ 1,150 per ounce, the price has been able to return a small portion of its losses. The pair XAU / USD broke through the level of 1160 in the beginning of the American session and then continued to rise. The price was trading below the moving average on the 4-hour chart. Moving averages are preserved bearish bias. Resistance is located at 1170, support - at 1160 dollars per ounce.
MACD entered the negative zone. If the MACD will remain here and sellers position strengthened. The RSI was oversold.
Forecast Gold 12.13.2016
The technical picture shows the predominance of bearish sentiment. It is expected that the price will go to the level of 1150. Having overcome the first target, the precious metal may be heading to the region of $ 1,140 per ounce.
Technical analysis and forecast of oil prices today 13/12/2016
Brent crude oil showed rapid growth on Monday. A positive outcome of a meeting of OPEC and other oil producers in Vienna last weekend have pushed prices to new highs.
Oil Current Situation
Oil prices continued to rally in trading Monday and set fresh multi-month highs around $ 57.24 per barrel. In the 57.50 price came under pressure and rolled back after the test at this level. Brent crude oil prices fell and held the European session, as well as the beginning of the US trading near the 56.60 mark. The benchmark is trading above the moving average on the 4-hour chart. 200 EMA was neutral, whereas the 50 EMA and the 100 EMA retained a bullish bias. Resistance is located at 57.50 and support - to 56.50 dollars per barrel.
The MACD histogram has increased, which indicates the strengthening of customer positions. The RSI indicator remained in the overbought zone.
Oil Forecast 13/12/2016
The upward trend will continue as soon as the price consolidates above support of $ 56.50 per barrel. The most likely scenario for the development of trading represents a further growth of quotations with the target of 57.50 and 58.50. However, the benchmark is overbought, and can be expected to profit, which may suspend the rally.Prices for Brent crude oil may return to the area of 54.50 dollars per barrel.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman
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