08.02.2016 - We are forecasting the fall of the Australian dollar
The price of the Australian dollar showed a sharp decline during which has reached the lower boundary of the rising channel and the level of 0.7050. If the price fixates below these levels, we expect a further decline to 0.7000, 0.6840 and 0.6800. In case of rebound, quotes, will return to the level of 0.7180. We are forecasting a continuation of the negative price dynamics in the near future and maintain the medium-term negative outlook with the potential decrease to 0.6600 and 0.6500.
Forex and CFD
08.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD after reaching and some consolidation around the level of 1.1200, started to correct downward and in the near future can reach support levels at 1.1080 and 1.1050. In case of overcoming these levels, the decline will continue until 1.0985. Our medium-term outlook remains negative, but we do not rule out the price growth to 1.1200 and 1.1400 in the near future.
Nearest resistance levels: 1.1200, 1.1350, 1.1450, 1.1500, 1.1750
Nearest support levels: 1.1080, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550, 1.0500
Currencies trading and British pound. The price of GBP/USD corrected down to 1.4500 and an inclined support line. In case of further decline, the levels...
08.02.2016 - The US dollar rose after a report on the labor market
Currency trading and the euro. The price of euro showed decline amid stronger US dollar after the release of US labor market report for January. Thus, the number of new jobs outside the agricultural sector amounted to 151 thousand, against the forecast of 189 thousand. At the same time, the unemployment rate fell by 0.1% to 4.9%, while average wages increased by 0.5%, which is 0.2% better than expected. This week, we should pay attention to the speeches of Fed Chairman Janet Yellen on Wednesday and Thursday, data on US retail sales and GDP growth in the euro area. Today, the dynamics of trading will affect the news on industrial production in Germany (07:00 GMT) and the index of investor confidence in the Eurozone (09:30 GMT). Our medium-term outlook for the euro remains negative due to the expected enhancement of incentives of the ECB.
08.02.2016 - The fall of USD/JPY may continue
The price of USD/JPY continues to strengthen against the US dollar amid falling European and American stock markets. It is worth noting that today, has been published a positive data on the Japanese balance of payments surplus in December, which rose to 1.64 trillion yen versus 1.42 trillion yen in the previous month. Tomorrow it will be published statistics on the volume of orders for engineering equipment, but the main impact will have an interest in defensive assets, which in recent years has led to a strengthening of the yen. We expect the resumption of growth of quotations of USD/JPY in the medium term against the backdrop of lower interest rates and the Bank of Japan and expected stabilization of the stock markets.