Technical forex forecast for today 27.10.2016: EUR / USD, GBP / USD, USD / JPY, NZD / USD, XAU / USD, BRENT
Technical Forex Forecast EUR / USD today 10/27/2016
Quotes euros paired with Americans continue to support the positive data on the business activity of the eurozone, published earlier this week. Moreover, to some extent, limits the decline of the currency pair optimistic IFO report in Germany, which was released Tuesday.
The current situation in the euro
The EUR / USD spent the day in a positive mood. Trading instrument somewhat strengthened during the Asian session on Wednesday and continued to increase long positions during the European session. The price could rise to the level of 1.0950, where the bullish momentum faded. 50-EMA stopped the upward momentum on the 4-hour chart. Moving averages continued to move down. Resistance is at 1.0950, support - at 1.0900.
The MACD remained in the negative zone. Histogram rose, indicating a weakening of the position of sellers. RSI is approaching overbought territory.
Forecast EUR / USD 27.10.2016
If the price will make another attempt, this time to break through the resistance level of 1.0950, after which growth may continue in the area of 1.0980. Back below 1.0900 will send the price of EUR / USD to 1.0850.
Technical forex forecast GBP / USD today 27/10/2016
Sterling few cheered upbeat on the release by the number of loans approved for a mortgage, exceeded consensus forecasts.
The current situation on the pound
on Wednesday pound strengthened slightly against the US dollar. Price level rose from 1.2154 to 1.2245.However, buyers are not able to raise the price higher on European session. Price broke through the level of 1.2200 in short term and prior to the opening of US trading back below this mark. 50-EMA stopped the growth momentum. The moving averages are pointing downwards on the 4-hour chart. Resistance is located at 1.2200, support - at 1.2100.
The MACD is in the negative zone. Histogram remains the same, which indicates the position gain sellers. RSI is in the overbought zone.
Forecast GBP / USD 27.10.2016
The inability of prices to move higher indicates the presence of sellers. Movement below 1.2200 will indicate the return of vendors to reduce the pair GBP / USD at 1.2150 area.
Technical forex forecast USD / JPY today 27.10.2016
The US dollar market is dominated with respect to the counter currency, as growing hopes for a Fed rate increase in the near future. Meanwhile, the Japanese currency was supported against the background of subdued trading on stock markets, which contributed to limiting the further decrease in pair.
Current situation of the yen
USD / JPY pair remained near recent lows. Price found strong support in the 104.00 and spent the day not much above it. The uptrend remains valid. Vending tool is still in the uplink, near its lower margin. 50-EMA stopped the downward momentum on the hourly chart. 50 EMA is neutral, 100 EMA and the 200 EMA maintained their bullish bias. Resistance is located at 104.60 and 104.00 in the field of support.
The MACD is in the positive zone. Histogram has declined, indicating a weakening of the position of the buyer. RSI is located in the neutral zone.
Forecast of the dollar, the yen 10.27.2016
If the pair will remain in the uplink, the price can recover their losses and rise to the level of 104.60. The movement below the level of 104.00 points to weakening the position of buyers and sellers can give a chance to further reduce the price.
Technical forex forecast NZD / USD today 27/10/2016
The pair NZD / USD rose on Wednesday trading. Despite the fact that the US currency retreated from a maximum of 9 months, positive in relation to the dollar is supported by the continuing expectations for a speedy recovery the US Fed rates.
Current situation NZD / USD
After a couple weeks of decline back lost ground and jumped to the weekly highs. Buyers raised the price to the level of 0.7180, where the growth momentum faded. Price met strong resistance in the face of the 200 EMA, which repulsed the price down on the 4-hour chart. A pair of currencies is between 200 and 100 EMA-EMA before the US session. Moving averages are moving downward. Resistance is located at 0.7200, support - at 0.7120.
The MACD is in the positive zone. Histogram has declined, indicating a weakening of the position of the buyer. RSI moved up.
Forecast NZD / USD 27.10.2016
Bears can keep control of the market, if the price bounces down from the 200 EMA. Sellers will send the price to the level of 0.7120. After the breakdown of the level of prices may fall to 0.7080.
Technical forex forecast rate of gold at today 27.10.2016
In the middle of the week precious metal quotes come close to the maximum of 3 weeks. On Wednesday, the ratio of the dollar on the market eased somewhat, increasing the demand for gold.
The current situation in gold
after short-term rally in the gold price stayed above 1270 dollars per ounce, while remaining at these levels throughout the day. Buyers were unable to propel the price higher. The pair XAU / USD is now unfolding and intends to start lowering. Price is trying to overcome the 100 EMA to move down. 100 EMA-neutral, 200-EMA is moving down, the 50-EMA turns up on the 4-hour chart. Resistance is located at 1280, support -. At 1270 dollars per ounce
MACD is in the positive zone. Histogram has declined, indicating that buyers gain positions. RSI rebounded from oversold area.
The forecast for gold 27/10/2016
The failure to consolidate above 1270 may decrease to around US $ 1260 per ounce.
Technical forecast Brent crude on 10/27/2016
Oil price fell to a minimum 3 weeks ex developing downtrend. The mood in the market deteriorate amid growing doubts about the implementation of the agreement on the reduction of oil production.
The current situation on the oil
futures for Brent crude continued to lose ground in the trading environment. The price had broken the level 50.50 and continued its decline. After the breakdown of this level in the Brent futures moved down and closer to the next support at 49.50 area. Prices for "black gold" close to the 200 EMA at the end of the European session. 200-EMA can be a support for the asset. EMA-200 keeps bullish bias, while EMA 50 and EMA 200 downwards.Resistance is located at 50.50 and support - to 49.50 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 10/27/2016
On the 4-hour chart, the technical picture speaks in favor of continuing downward movement. After the breakdown of the level of 49.50 futures for Brent crude oil may continue to fall to 48.50. It is possible that the bears begin to profit-taking after recent declines.
Based on materials from Fort Financial Services
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