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Latest News 12-02-2016 by FXFINPRO

 

Forex forecasts

12.02.2016 - The price of the New Zealand dollar was not able to continue the growth

The price of the New Zealand dollar continued to rise and again approached the resistance level at 0.6750 but failed to break it. Currently quotes are reduced and in case of continuation of the current dynamics, will reach the level of support at 0.6600 and the inclined support line. To continue the growth with the objectives at 0.6800 and 0.6990, the price needs to gain a foothold above 0.6750. Our medium-term outlook remains negative and we look forward to the confirmation of the signal to sell with the objectives at 0.6450 and 0.6250, which will be the price fixing below 0.6600

 

Forex and CFD

12.02.2016 - ​Technical view


Currencies trading and euro. The price of EUR/USD continues to rise gradually within the uptrend. The growth of quotations in the near future is limited by the resistance level at 1.1400. In the near future, prices may drop to 1.1200. The current growth of quotations may continue, but the medium-term outlook remains negative.

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

Currencies trading and British pound. The price of GBP/USD after the recent correction has reached the support level at 1.4365, but could not overcome it, and resumed growth. Current growth may continue to the level of 1.4640, but to overcome...

 

12.02.2016 - In Japan, hinted at the possibility of intervention on the forex market

Currency trading and the euro. The price of euro continued to rise against the US dollar amid falling demand for the dollar and the increased interest of investors for defensive currencies like the yen and the euro. It should be noted that the fall on the stock markets of the world and the US continues to put pressure on sentiment concerning the US dollar. The Fed chief said yesterday, that does not rule out raising interest rates in the coming months, despite the instability on the financial markets to determine the impact of which on the economy of the country will need more time. Today, the market volatility will remain elevated in connection with the publication of preliminary data on GDP growth in Germany (07:00 GMT) and the Eurozone (10:00 GMT). Strong price movement is possible after the publication of data on retail sales in the US (13:30 GMT) and the index of consumer confidence in the US (15:00 GMT). Our...

 

Experts' opinion

12.02.2016 - US retail sales rose by 0.2%

Today was published important statistics on retail sales in the US, which increased by 0.2%, against forecast of an increase by 0.1% in January. Consumer spending that is about two-thirds of economic activity in the country was moderate in the 4th quarter of last year, but the current growth boosted optimism on the market. Fuel sales continued to decline due to low prices. The main support is the improvement of the situation on the labor market where wages are rising and unemployment is declining. We expect moderate growth on the stock markets in connection with these news, but investors remain wary amid volatility on the stock markets and lower oil prices, which is negatively displayed on the dynamics of US indexes, and will cause them to decrease in the coming months.


 

Source: https://fxfinpro.com

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