Fort Financial Services. Technical analysis and forex forecast for today 11/03/2016: Euro, dollar, pound, yen, gold, oil

2 ноября 2016 - Fx4News

Technical Forex analysis and forecast of the euro dollar today 11.03.2016

On Wednesday, the dollar sank to a minimum of 3 weeks in relation to the EU currency, as the market grew excitement about the results of elections for the presidency, which will be held in the US on 8 November. Meanwhile, the pressure on the euro was mixed data out of Germany, as a result of the growth of a pair of major currencies was suspended.

The current situation in the euro

upward momentum for the single currency yesterday received its further development. The EUR / USD has met strong resistance at the level of 1.1100, which slowed down the further strengthening of the asset. The pair has traded in a 3-week highs, slightly below the level of 1.1100 during the European session. The price has broken the 200 EMA and went up on the 4-hour chart. EMA-50, 100-EMA-EMA 200 and turned up at the same time-frame. Resistance is at 1.1100, support - at 1.1050.

The MACD histogram has increased, which indicates the strengthening of customer positions. The RSI continued consolidation in the overbought zone.

Forecast EUR USD 03/11/2016

If the positive sentiment on the euro continues, then the following can be TARGET 1.1100-1.1150 area.

Technical analysis and forex forecast the pound dollar today 11.03.2016

Pound sterling midweek strengthened its position against the US dollar, having strong macroeconomic data from the United Kingdom. As the report showed, the activity in the construction sector increased at the highest rate since March.

The current situation on the pound

new wave of buying pushed the British pound pair GBP / USD to new highs. Traders lifted sterling in trading environment above and the pair managed to grow to the level of 1.2300, where upward momentum briefly extinguished. The pound broke through this level before the opening of the US session. Moving averages continued to decline on the 4-hour chart, however, the 50-EMA becomes more neutral. The price rebounded from the 50-EMA and goes to 1.2300, testing the moving average before the opening of the US session. Resistance is located at 1.2400, support - at 1.2300.

The MACD formed a signal to grow. RSI goes up, confirming the strengthening of the position of the buyer.

Pound Dollar Forecast on 11/03/2016

expected breakdown of the top level of 1.2300, to continue to grow. A close above 1.2300 level will allow to continue to move to the mark 1.2400.

Technical analysis and forecast of the dollar, the yen today 11/03/2016

Desheveyuschey US dollar warms investors' demand for safe-haven currencies such as the yen. Market participants are concerned about the outcome of the US presidential election, that the downward impact on the national currency.

Current situation of the dollar yen pair

USD / JPY pair was not able to overcome the level of 105.00. Price met strong resistance in this level, which caused a sharp decline. Trading instrument remained in "red" zone in trading environment, as the downward momentum has increased its strength throughout the day. Sellers have reduced the price of the mark 104.00 to 103.00 area. The pair USD / JPY broke through the 103.50 level on its way to 103.00. The price has broken the 100 EMA and tested the 200 EMA on the 4-hour chart. Moving averages are turned down. Resistance is located at the level of 103.50, support - at 103.00.

The MACD has decreased, which indicates the position gain sellers. The RSI indicator is held near the oversold zone, going to continue to decline.

Forecast USD / JPY on 03/11/2016

If the pressure on the pair continues, the level of 102.50 will be the next to reduce. It is possible that the pair USD / JPY will try to restore the resistance 103.50-103.80.

Technical analysis and forex forecast gold to date 11/03/2016

The appeal of gold on Wednesday has intensified against the backdrop of strong nervousness of market participants in relation to the outcome of the election for the US presidency. Investors turned to safe-haven assets, raising the prices of the precious metal to a maximum of 4 weeks.

The current situation in gold

Gold prices have continued to strengthen their position in the trading environment, breaking the upward channel.The pair broke the level of 1290 dollars per ounce, and closer to the level of 1300 to the beginning of the American session. Bullish momentum waned when the price approached 1300. Quotes metal remained above the moving average on the 4-hour chart for the day. Moving averages are turned up. Resistance is located at 1290, support - 1280 dollars per ounce.

The MACD histogram has increased, which indicates the strengthening of customer positions. RSI is in the overbought zone.

Gold forecast for today 03/11/2016

Breakdown level of $ 1,300 per ounce will strengthen the position of the buyers. In the case of this potential scenario pair XAU / USD may reach 1310.

Technical analysis and forecast of oil 03/11/2016

Oil quotes were traded in the downward direction, while as investors awaited a report on American stocks. Earlier data showed that stocks of raw materials have increased, which is another confirmation of the saturation of the market of "black gold".

Current situation BRENT oil

after short-term recovery in trading Tuesday, the price of Brent turned down and continued to lose ground on Wednesday. Price remained in the downlink, trading near its lower limit. Sellers struck 48.50 level and tested the 47.50 mark in trading environment. The price has remained below the moving average on the 4-hour chart. EMA 50 and EMA 100 move downward, the EMA 200 is set only in a downward direction. Resistance is located at 48.50 and support - to 47.50 dollars per barrel.

The MACD remained at the same level, which indicates the position gain sellers. RSI remains in the oversold zone.

Oil is forecast for today 03/11/2016

is recommended to open short positions only if the price will drop below $ 47.50. However, this option is seen as an alternative, as oil prices heavily oversold. It can be expected in the near future correction on profit taking.