Technical analyst and forex forecast for today 20.10.2016: EUR / USD, GBP / USD, USD / JPY, GOLD, Brent

19 октября 2016 - Fx4News

Forex Technical Analytics EUR / USD Forecast 10/20/2016

EU currency has strengthened against the dollar against the backdrop of pessimistic macroeconomic data from the United States. In addition, the strength of the US currency eroded mixed comments from the US Federal Reserve with respect to raising rates.

Current situation

Bearish trend remains in force for the 4-hour chart. The EUR / USD is trading below the level of 1.1000 on Wednesday. The market was fairly balanced in Asian and European session on Wednesday. The price remained between the 1.0970 and 1.1000 marks. The euro fell to a level of 1.0950 in European trading. Quotes euro broke through the 50 EMA and tested 100-EMA on the hourly chart in the Asian session. 100 EMA repulsed the price in a downward direction. The EUR / USD has remained among the 50 EMA and the 100 EMA in early European trading and fell below these lines for the opening of the US session. All the moving averages have accelerated their decline on said time frame. Resistance is at 1.1000, support - at 1.0950.

The MACD is in the negative zone. Histogram has declined, indicating that sellers gain positions. RSI toward oversold.

The forecast euro dollar 20 October 2016

The negative technical picture remains bearish pressure. Break of 1.0950 levels in the downstream direction will allow the price to continue to decline to around 1.0900.

Technical Analysis Forex GBP / USD on 10.20.2016

On Wednesday, the British pound rose against the dollar, as it was supported after the release of optimistic indicators for the UK labor market. According to a report on unemployment, the state's economy remains stable after the referendum on 23 June.

Current situation

According GBP / USD pair is dominated by bullish sentiment. Bulls raised the price to 1.2300. During the day, sterling attempted to overcome the level of 1.2300. Quotes pound broke through the 50 EMA and the 100 EMA, and tested the 200 EMA on the hourly chart. 200 EMA has become the main obstacle to the prices that the pair tried to break through during the day. 50-EMA-EMA 100 crossed in an upward direction on the same graph.Moving averages (50, 100 and 200) are neutral. Resistance is located at 1.2300, support - at 1.2200.

The MACD entered the positive zone. Histogram rose, indicating a weakening of the position of sellers. RSI approached the oversold zone.

Pound Dollar Forecast October 20, 2016

short-term outlook for the pair remains bullish. Break up the level of 1.2300 could lead to growth in the area of 1.2400.

Forex USD Technical analysts / JPY on 20/10/2016

America's currency pulled back from the highs relative to the majors, as traders took a wait after the recent weak US statistics, as well as on the eve of the release of reports covering the situation in the housing sector.

The current situation

on the 4-hour chart, the pair marked a moderate bearish potential. Price came out of the consolidation range and fell below 104.00. Sellers lowered quotes to 103.00 in trading environment. 50-EMA stopped the downward momentum on the 4-hour chart. Moving averages (50, 100 and 200) continued to grow. Resistance is located at 104.00 and 103.00 in the area. Support

MACD entered the oversold zone. Histogram has declined, indicating a weakening of the position of the buyer. RSI is moving towards oversold zone.

Dollar Yen Forecast October 20, 2016

USD / JPY pair is close to the level of 103.00. The decline below this level will indicate weakening of the upward momentum. With the development of such a scenario, we can expect that the price will fall in the area of 102.50.The rebound from the level of 103.00 will return the initiative in the hands of buyers.

Technical Forex USD / CAD analysis on 10.20.2016

On Wednesday, the Canadian dollar as a commodity currency, has appreciated against the background of rising oil prices. Support for the "black gold" oil producers had a statement states that the decline in production is an achievable goal.

Current situation

The pair remained neutral, negative tone is saved in the short term. Pair USD / CAD continued its recovery and reached the day high of 1.3218 before falling back down in European trading. Price spent the day in a narrow range bound 1.3130-1.3080. Pair USD / CAD jumped down from the 200 EMA on the 4-hour chart. EMA-200 neutral, 50-EMA-EMA 100 intersects the downstream direction. Resistance is located at 1.3150, support - at 1.3050.

The MACD has decreased, which indicates the position gain sellers. The RSI is near the overbought zone, and could head lower.

The Canadian dollar forecast 20 October 2016

Pair USD / CAD close to 1.3050 support. If the price breaks this support, the pair could fall to below 1.3000.

Technical analysis of gold rate 20.10.2016

The price of gold strengthened as growing uncertainty about the Fed raising interest rates this year.

The current situation

Gold maintained a positive attitude against its US opponent on Wednesday. Trading instrument XAU / USD still left the band formed early, and in the European session on Wednesday continued to grow. Customers have raised the price level from 1260 to around 1270 dollars per ounce. Bullish momentum faded in the area nearest resistance where prices spent the rest of the day. The pair broke the 50 EMA and approached the 100-EMA, which stopped the rise in prices on the 4-hour chart. EMA-50 neutral 100-EMA-EMA 200 and directed downward. Resistance is located at 1260, support -. 1250 dollars per ounce

MACD is in the positive zone. Histogram rose, indicating a weakening of the position of sellers. RSI is directed to the north, which confirms the current upward movement.

Gold forecast on October 20, 2016

The general mood remains bullish, which allows to expect further growth in 1270. Confident resistance breakout of this level will send the price up to the next resistance in 1280 dollars per ounce.

Technical analysis and forecast for Brent crude 20/10/2016

Oil prices rose on Wednesday by about 1% against the backdrop of a sharp reduction in inventories in the United States. Support for the "black gold" have growing expectations that an agreement is reached between the major producers to establish the limit oil production.

The current situation

of Brent crude oil prices remain in the range, limited support and resistance levels. Bulls raised the price range from the lower to the upper border. Buyers of futures for Brent rose to a mark of $ 52.50 per barrel, where upward momentum faded. Oil prices rebounded from this level and held the European session slightly below it. The price remains near the 50-EMA, which is a strong resistance for the futures. EMA-50 neutral 100-EMA-EMA 200 and directed upward. Resistance is located at 52.50 and support - to 51.50 dollars per barrel.

The MACD indicator is located on the ground level. If the histogram will go into negative territory, it will point to the strengthening position of sellers. If the MACD will return to positive territory, control of the market will go to buyers. RSI is in the neutral zone.

Oil Forecast October 20, 2016

If the level of 52.50 dollars per barrel will curb prices, prices may fall to 51.50. Confident strengthening above this resistance would open the way to the level of 53.50.