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Latest News 11-02-2016 by FXFINPRO Capital

 

Forex forecasts

10.02.2016 - We forecast a the fall of the Australian dollar

The price of the Australian dollar showed growth after failed to gain a foothold below the level of 0.7000 and rebounded upwards. Currently quotations are trying to gain a foothold beyond the ascending channel, which they had left earlier. Confirmation of sell signal will be breaking through the local minimum at 0.7000. The growth in the near future is limited by the resistance at 0.7180. Our medium-term outlook remains negative.

 

Forex and CFD

10.02.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continued to rise after failed to break through the important level of 1.1200. As a result, quotations reached the upper limit of the upward channel and is currently consolidating around it. In the case of correction quotations may return to the levels of 1.1200 and 1.1100. Growth of price in the near future is possible to the level of 1.1400. Our medium-term outlook remains negative, but the current upward trend will continue in the near future.

Nearest resistance levels: 1.1350, 1,1400, 1.1450, 1.1500, 1.1750

Nearest support levels: 1.1200, 1.1080, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

 

10.02.2016 - The dollar has weakened again

Currency trading and the euro. The price of euro continues to grow against the US dollar amid falling yields of US Treasury bonds, which is caused by the increased interest of investors to defensive assets. Today, the focus of investors will be on the speech of the Fed's chairwoman Janet Yellen (15:00 GMT). According to the forecasts of most analysts, Ms. Yellen stated that further steps of the Fed will depend on macroeconomic data. In case of dovish rhetoric, the US dollar's decline against the euro will continue. On Friday will be published important statistics on retail sales in the US. Current euro growth may continue in the near future, but the medium-term outlook remains negative.

 

Experts' opinion

10.02.2016 - Industrial production in the UK fell by 1.1%

Statistics from the UK continues to disappoint investors. So, today was published important data on industrial production the volume of which fell by 1.1% in December against an expected decline of just 0.1%. The volume of production in the manufacturing industry decreased by 0.2%. Analysts do not predict changes. The fall in the oil and gas sector continues to have a negative impact on macroeconomic statistics in the country. We forecast a drop in the price of the British pound in the medium term with a target at 1.4000.


 

Source: https://fxfinpro.com

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