29 October, 2013
The Pound has pushed off from the upper limit of the ascending channel and is trading at the level of 1.6141. In general, the British currency is attractive for investments. The latest economic data showed that British GDP has increased by 0.8% in Q3.
However, economists believe that British economy is far from full recovery. We would like to remind that in August Central Bank of England left interest rate unchanged at the level of 0.5%. Monetary policy will remain unchanged until unemployment rate does not drop below 7%. According to estimates of the Central Bank this process may take up to 3 years. On the other hand, officials are not going to increase volume of quantitative easing in the near future, which will certainly have a positive effect on the Pound rate against other major currencies.
Attention this week shall be paid to fundamental data on sentiment index GFK and mortgage lending in Great Britain.
Support and resistance
The nearest resistance level on the daily chart is 1.6255. Support level: 1.6065.
It is recommended to open long positions from the level of 1.6265 with the target of 1.6448 and protective orders near 1.6230.
Analysts of LiteForex Group of Companies
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...