Sign In   Register


Forex forecasts 22-01-2016 by FXFINPRO Capital

Forex forecasts

21.01.2016 - The British pound accelerated decline


The price of the British pound, after some consolidation near the level of 1.4200, will continue to fall within the local descending channel. In the near future quotes probably will reach the psychologically important level of 1.4000, and then we may see a correction to 1.4310 and 1.4400. On the other hand, the overcoming of support at 1,4000, will lead to decrease to 1.3800 and 1.3600. Our medium-term outlook remains negative, but soon fall will probably end and we will see a correction.



Forex and CFD


21.01.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD reduced to a sloping support line and currently is trying to gain a foothold below the level 1.0900. Further reduction and breaking through 1.0850 will be a signal for opening short positions with the reduction potential up to 1.0800, 1.0700 and 1.0550. The growth in the near future is limited by a strong resistance level at 1.0985. Our medium-term outlook remains negative and we recommend waiting for the signal to sell.

Nearest resistance levels: 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200



Currencies trading and British pound. The price of GBP/USD after reaching the lower limit of...



21.01.2016 - Investors are waiting for the statement of Mario Draghi

Currency trading and the euro. The price of euro reduced with the improvement in investor sentiment due to a stabilization in commodity markets. Despite this, the price of the dollar was negatively affected by the data on basic consumer price index, which in December rose by 0.1%, vs. expected 0.2%. At the same time, the number of housing starts in the US in December totaled 1.15 million, compared with an expected 1.19 million. Today, the central event of the day will be a press conference of Mario Draghi (12:45 GMT) after the interest rate decisions of the ECB. The head of the ECB may hint to increase of the quantitative easing program, which will lead to lower prices of euro. We maintain a medium-term negative outlook on the European currency.


Currency trading and the British pound. The...


Experts' opinion


21.01.2016 - We are waiting for the correction of the yen price

Today the head of the Bank of Japan Haruhiko Kuroda said about maintaining inflation target of 2.0%. According to him, the price trend in the country is steadily improving, fundamentals remain positive and now the bank is not considering using negative interest rates. It is worth noting that the demand for the Japanese yen remained elevated in recent years due to the fall in commodity and stock markets, but according to our estimates, after stabilization of the situation, the yen will resume decline. We maintain a medium-term negative outlook on the yen.




Read 983 times