The euro dollar forex trading forecast for EURUSD today 02/21/2019
In the eve of the FOMC released the minutes noted that the monetary authorities are ready to raise interest rates in the current year only on the condition of strong inflation. I recall that now the CPI is on a two-year low and the reasons for the growth of inflation is not currently visible. On the contrary, recent reports on retail sales and industrial production points to a possible reduction of inflation. Dollar is a negative factor!
On the commodity market, we are seeing strong demand in the segment of industrial metals and energy, which is also negative for the dollar as the US currency and raw materials have historically traded in different directions. In my opinion, the euro can now continue the upward trend which started at the end of last week, however, the uncertainty in the credit market will not allow a single currency greatly strengthened.
EURUSD recommendation: Buy 1.1330 / 1.1310, and take profit 1.1375
Pound Dollar GBPUSD forex forecast for today 02/21/2019
Forex traders are two reasons to open long positions Buy a pair GBPUSD. Firstly, in the credit market yield on 10-year UK government bonds is increasing in relation to their counterparts in the United States and Germany, which will provide support to the pound during the day. Second, the "bull rally" in the oil market as a positive impact on the value of the pound, as between GBPUSD and BRENT observed a direct correlation. Oil is now more expensive by a decline in hydrocarbon supplies from Saudi Arabia, Nigeria and Venezuela.
GBPUSD recommendation: Buy 1.3010 / 1.2 990 and take profit 1.3091
Dollar yen USDJPY Forex forecast for today 02/21/2019
Strong demand for risky assets will support the couple, because it has a direct correlation with stock indices. Equity markets are now growing for two reasons. Firstly, the FED does not want this year to raise interest rates - such dynamics is positive for the stock. Second, trade negotiations, the US and China are positive, and the Chinese authorities are even willing to go to the revaluation of the yuan, just to please D. Trump. Celestial past ten years, actively opposed the strengthening of the national currency, and this year we see a fracture trend. Trump must be satisfied. Now the conclusion of the bargain the only question of time.
USDJPY recommendation: Buy 110.6 5 /110.50 and take profit 111.20