The euro dollar forex trading forecast for EURUSD today 06/04/2019
Today we expect a "roller coaster". In the morning you can expect a depreciation of the euro against the background of a moderately negative news from the euro area inflation - reducing consumer demand and low energy prices point to a decline in the consumer price index. inflation report will be prepared two days before the ECB meeting, and investors will start to reflect on the theme of conservation of zero rates in Europe for a long time - it may be the main options that will be guided by M. Draghi and his colleagues. In the afternoon, all the attention of investors will be focused on the speech of the Fed. Taking into account the growth of geopolitical tensions between the US and China, the head of the Fed may hint at easing monetary policy in the second half of the year. Dollar is a bad sign! What we have in the dry residue? In my opinion, price decline in the first half of the day should be used to open positions Buy, based on continuation of the trend.
EUR / USD recommendation: Buy 1.1230 / 1.1211, and take profit 1.1265
Pound Dollar GBPUSD forex forecast for today 04/06/2019
Today, there are both good and bad news for the British currency. British industrial PMI index for the end of May fell below the critical level of 50% -business worried about a trade war the United States and China and the uncertainty surrounding BREXIT. Last time the index fell below 50% in the summer of 2016, when the results of the referendum were announced by BREXIT. Pound will now be difficult to demonstrate a strong growth of quotations. The good news for the pound - is the future growth of oil prices. Minister of Energy of Saudi Arabia Khalid Al-Falih confident in extending the agreement of OPEC + and this factor is providing strong support for the black gold. BRENT oil today may test the level of 62.30.
GBP / USD recommendation: flat 1.2640 -1.2705
Dollar yen USDJPY Forex forecast for today 04/06/2019
Closing of short positions on the US stock market have a positive impact on the value of a given currency pair, as USDJPY has a strong correlation with the S & P500. Why do investors now can begin to take profits on the "shorts" in spite of the continuing trade tensions between Washington and Beijing? All the matter in a strong decrease in the yield of US 10-year government bonds. Yield in the last month has fallen so much that now is interesting to buy the shares in order to receive dividend income. Mutual funds that are actively working with the money of retail investors in the United States, can now start actively buying "blue chips" (shares of reliable companies).
USD / JPY recommendation: Buy 107.70 / 107.52 and take profit 108.27