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Latest News 04-02-2016 by FXFINPRO

 

Forex forecasts

03.02.2016 - The price of euro soared

Price of euro demonstrated strong growth after fixed above the level of 1.0900 and came close to the upper boundary of the corridor 1,0800-1,0985. In case of breaking through it, quotations will reach the level of 1.1050 and 1.1200. On the other hand, at this point it is possible to open short positions with a stop above the strong resistance level at 1.0985 and the target levels at 1.0900 and 1.0800. Our medium-term outlook remains negative, but we do not exclude the continuation of growth in the near future.

 

Forex and CFD

03.02.2016 - Technical view


Currencies trading and euro. The price of EUR/USD growth rate slowed, but continues the upward movement after overcoming 1.0900. Further growth is limited by a strong resistance level at 1.0985 in case of quotations approaching to this level, we recommend to accumulate short positions with the first target at 1.0800 and then reduction can continue to 1.0700 and 1.0550. Our medium-term outlook remains negative.

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 demonstrated strong growth and reached the upper limit of the local rising channel. Further increase...

 

03.02.2016 - Unemployment in New Zealand declined sharply to 5.3%

Currency trading and the euro. The price of euro yesterday showed growth against the background of the weakening US dollar, which was due to lower oil prices, as well as the publication of positive statistics on the unemployment rate in the euro area, which in December fell to 10.4%, which is 0.1% better than the previous forecast. It is worth noting that compared to December 2014, the number of unemployed in the euro area decreased by 1,501 million. Today, the dynamics of trading will affect news on service PMI in the Eurozone (09:00 GMT) and retail sales (10:00 GMT). Our medium-term outlook remains negative and we look forward to the resumption of the negative dynamics of the euro.

Currency trading and the British pound. The price of the British pound strengthened yesterday amid...

 

Experts' opinion

03.02.2016 - The data on the labor market in New Zealand has led to the growth of NZD/USD

Today the head of the Reserve Bank of New Zealand made a statement in which he noted that the exchange rate of the national currency is overvalued and the RBNZ is ready for monetary easing in case of worsening outlook for global growth. We recall that inflation in the country dropped to 0.1% in Q4, which is significantly below the target level of 2.0%. It is worth noting that today was published positive statistics on the unemployment rate in the country, which in Q4 unexpectedly fell to 5.3% that is significantly better than 6.0% in the 3rd quarter. Our medium-term outlook for the New Zealand dollar remains negative and we recommend using the current growth in the search for points of entry into a short position.


 

Source: https://fxfinpro.com

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