Latest news 27-01-2016 by FXFINPRO CAPITAL
Forex forecasts
26.01.2016 - The British pound is likely to fall further to 1.40
The price of the British pound keeps moving inside the descending channel after recently reached its upper limit and the resistance level at 1,4350. In case of breaking of this level and fixing above it, we expect continued growth to 1.4500 and 1.4800. A more likely scenario according to our forecasts is a continued negative dynamics of price with immediate objectives at 1.4080 and 1.4000. Our medium-term outlook also remains negative.
Forex and CFD
26.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue to grow after reaching the strong support level at 1.0800, and may soon reach the level of 1.0900. Its overcoming will be the basis for further growth to 1.0980. According to our estimates the price decline will resume in the near future, and after overcoming the support at 1.0800, the closest targets will be 1.0700 and 1.0550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.0900, 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD after correction to the level of 1.4350 and the upper limit of the downward...
26.01.2016 - The yen and the euro rose against the background of deteriorating market sentiment
Currency trading and the euro. The price of euro resumed growth amid falling stock markets and falling oil prices, after a strong upward correction recorded at the end of last week. Investors did not rush to accumulate positions before the Fed decision on interest rates, which, according to our forecast will remain unchanged and more important event of the week will be the publication of the preliminary report on the growth of US GDP in the 4th quarter, which will be held on Friday. Today, the course of trading will affect the news on the index of business activity in the US service sector (14:45 GMT) and the index of US consumer confidence from the Conference Board (15:00 GMT). Our medium-term outlook for the euro remains negative, but the deterioration in sentiment on the commodity and stock markets will support demand for the European currency.
Experts' opinion
26.01.2016 - At the moment, there is no reason to raise interest rates of the Bank of England
Today, the Bank of England’s Governor Mark Carney made a statement in which he noted that inflation in the United States justifies the tightening of monetary policy in the country. In addition, he noted that the situation with the risk in the UK is normalized and credit growth has a positive effect on the economy. In order to increase the interest rate in the UK according to Mark Carney is needed an economic growth above trend and an increase in salaries in the country. As a result, at the moment the Bank of England does not see the prerequisites for raising interest rates, which is negatively displayed on the price of the British pound, which according to our forecast will reach 1.4000 in the near future.
Source: https://fxfinpro.com