Today forex technical analyst and forecast 17.03.2017: EUR / USD, GBP / USD, USD / JPY, GOLD
Technical analysis and forex forecast the euro dollar exchange rate (EUR / USD) as of today 03/17/2017
The euro has stabilized at a maximum in the past month against the US dollar on the news that the Liberals win in the Netherlands. As shown by the report, consumer prices in the euro area remained unchanged in comparison with the previous year and in line with the forecasts of experts.
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Euro Dollar current situation
It seems that the rally in the market has come to an end. The overall picture remains bullish for the euro. After the rally, marked on Wednesday, on Thursday, the pair took a break. The price almost hit 1.0750 during overnight trading, when the upward momentum faded. EUR / USD spent the night in the area of new highs. However, the morning of the European session has brought a wave of selling, and asset came under pressure. The single currency began to lose ground in the morning and by noon had reached the area of 1.0700. The pair bounced off the 50 EMA-up and broke through the 200 EMA on the 4-hour chart. Then the majors continued to trade significantly above the moving averages. In the above-mentioned time-frame of 50 EMA and 100 EMA continued upward movement, while 200 EMA was neutral. Resistance is at around 1.0750, and support - at 1.0700.
The MACD histogram is increased, which is a signal to buy. The RSI indicator is close to the overbought zone, intending to drop.
Forecast EUR / USD and recommendations on 17/03/2017
The current reduction can be considered corrective. Now the price has aimed to support 1.0700 and further to the level 1.0650.
Forex Technical Analysis The pound dollar GBP / USD on 17.03.2017
The Bank of England will announce its decision on the value of the interest rate and publish its monetary policy meeting on issues of protocol. The changes are not expected (0.25%).
Pound Dollar current situation
On Thursday, the market sentiment changed to bearish. Investors did not find any additional drivers to pick up a pound above $ 1.2300. The pair spent the night trading near that level in the morning and went down. During the day, the pair kept the mood on the market. 4-hour chart showed that the pound broke the 50 EMA and the 100 EMA are tested. 100-EMA-EMA 200 and pointing downward, whereas the 50-EMA became neutral on the same graph. Resistance is at around 1.2300, and support - at 1.2200.
MACD entered the positive zone. If the histogram will remain here, the position of the buyers will be strengthened. RSI consolidated near the overbought area.
Forecast GBP / USD and recommendations on 17/03/2017
The most likely scenario for trading is considered to be a further decline in prices in the area 1.2200.
Forex. Forecast of the dollar, the yen and the technical analysis of the USD / JPY on 03/17/2017
The yen fell slightly after the announcement of the results of the meeting of the Bank of Japan. The Bank of Japan, as expected, kept the main parameters of monetary policy following the meeting without any changes.
yen Dollar current situation
Achievements sellers were limited to a mark 113.00. Sellers were not able to overcome this level and the price rebounded from it up. Buyers have raised quotes during European morning trade, and back a small part of the recent losses. In accordance with the 4-hour chart, the pair has broken all the moving averages in a downward direction. 50-EMA-EMA 100 and 200 EMA became neutral on said graph. Resistance is at the level of 114.00, and support - to 113.00.
The MACD histogram has decreased, which is a signal to sell. The RSI was held near the oversold area.
Forecast USD / JPU and recommendations on 03/17/2017
The pair USD / JPY is necessary to rise above $ 114.00 to ease bearish pressure.
USD / CAD forex forecast for today 03/17/2017
Sellers continue to lead in Thursday trading. The US dollar remained close to new lows during the night and morning trading. The pair was not able to secure any significant recovery in the first half of the day. Bullish momentum started in the late European session. The pair entered a bearish consolidation phase and traded in a range bound 30-Tew points. 4-hour chart showed that the price has broken through the 50 EMA and the 100 EMA down. 100 EMA and the 200 EMA retained a bullish bias, while the 50 EMA was sent down on the same chart. Resistance is at around 1.3330, and support - at 1.3260.
The MACD histogram has decreased, which indicates a strengthening of the positions of sellers. The RSI remains in the oversold zone, heading north.
Forecast USD / CAD and recommendations on 03/17/2017
Another Target for the pair USD / CAD is the level of 1.3330.
Gold technical analysis and forex forecast XAU / USD on 03.17.2017
During morning trading session Thursday in the European markets the price of gold rose to a one-week high after a relatively "dovish" statements regarding the Fed's next interest rate increase.
Gold is the current situation
Bullish sentiment in gold remained at auction Thursday. Gold futures opened trading in "green" zone against the US dollar, and then developed upward momentum. In the morning the pair has reached the mark in 1228 dollars per ounce. Buyers have lost power in the area of that level and retreated, giving sellers a chance to recover some of the losses. The price has broken the 50-EMA up and tested the 200 EMA and the 100 EMA on the 4-hour time frame. 50 EMA and 100 EMA continued to decline, while 200 EMA turned up on the same chart. Resistance is at around 1230, and support - to 1220 dollars per ounce.
The MACD histogram is increased, which is a signal to buy. The RSI was held in the overbought zone, and is now headed south.
Forecast Gold (XAU / USD) and recommendations on 17/03/2017
In the short-term downward correction is expected. The first target support acts dollars per ounce in 1220.
Analytical review of the submitted lead analyst broker Fort Financial Services Alexander Kofman.