Forex Analysis

Daily Forex Analysis for 01/07/2016

Hello.Congratulations to all on Christmas, but the holiday is not a reason to skip a shopping day.And let's look at a couple of interesting points to trade tomorrow 7.01.2016

Calendar anticipated events

16:10 Canada.Speech of the Bank of Canada's runners
18:00 Canada.PMI (PMI) nsa (December)


ERUSDaili 7012016

on EURUSD pair formed the inner bar roll back to previously punched support level 1.08000.I think this is nothing more than a correction before further drop.I consider for this pair only sales.


ERZhPIDaili 7012016

On EURJPY pair strayed from the level of 127,000, and formed a Pin Bar.Most of the market participants according to the indicator in the purchases, and against this background we can go to the upward correction after a long fall.Maximum correction think will be around 130,000.Transactions on the pair do not see, becausesales against the current trend.


EURAUDDaili 7062016

On EURAUD formed is the second level of absorption of 1.4950.Price reached the last peak.I should expect to continue the grow

th and renewal of the maximum.From a pair of transactions will refrain, becausenext level.I will look after the breakdown of the purchase level and rolled back.

Fundamental analysis

World Bank

Yesterday, the World Bank cut its global forecast of economic growth for 2016, saying that the weak performance of the large emerging markets will undermine the general well-being as a whole, stagniruya of developed countries in particular, such asthe United States or United Kingdom.

Global growth should accelerate to 2.9% this year from 2.4% in 2015, the bank said, but it is a significant reduction from the June forecast of 3.3%.

Bank predicts also that the Russian and the Brazilian economy will be reduced during the year, contrary to the June forecast of recovery in these markets.

Chinese GDP growth is estimated to slow to just 6.7% in 2016, slightly less than the 6.9% in 2015. The US economy will grow by 2.7%, compared with an earlier estimate of 2.8% and compared to 2.5% in 2015year.Euro area will grow to 1.7%, contrary to early projections increase by 1.8%, while growth in 2015 was 1.5%.


UK will face this year with a "cocktail" of the most serious threats arising from the global economic slowdown.In 2016, according to the UK Chancellor of the Exchequer George Osborne, will be one of the most difficult in recent years, anticipating the possibility of a deep financial crisis.

Significant problems are associated with tensions in the Middle east, slowing growth in China and systematically lower commodity prices.

On the domestic front, according to Osborne, the first since 2007, the rise in interest rates could happen as early as this year.Treasury sources emphasize that this is not a solution to the Chancellor, and the interest rate is in the department of the Bank of England, but it is important to note that there are many homeowners with large mortgages, which rose in price all of last year - the owners, who have never experienced even a slight growth rates.In particular, there is concern that the growth rate could have an impact on consumer confidence.

Earlier this week, the British pound fell to an eight-month low against the US dollar, even though the positive news about the growth of the construction sector.The dollar grew up, however, against all the major currencies on inflation in the euro area data, the prospects for Chinese growth and the geopolitical crisis in the Middle East.But the pound has received more than 0.5% against the euro.The future performance of Osborne could again weaken the pound sterling.