The euro dollar pair EURUSD forecast for today 01/31/2019
Fed expected kept interest rates at 2.25%. What is interesting D. Powell said at a press conference? First, the central bank lowered the estimate of economic growth to "confident" to "strong". Second, the Fed's balance sheet reduction before the process is completed with a higher volume of assets. Third, the Fed needs to be patient, to wait. It is these three points sent the dollar to a knockout night before. Sales of the US currency continues today!The yield on US Treasury bonds after the press conference the head of the Fed has sharply gone down, that leaves no other choice for investors how to sell dollars and buy euros. Additional support for the euro will have an upward trend in the oil market. US sanctions against Venezuela's state oil company Petroleos de Venezuela may further restrict the production and export of oil from the OPEC member country. In the oil market have a simple rule: the smaller the production, the higher the quotes! Minister of Energy of Saudi Arabia, Khaled Al-Faleh has not shown enthusiasm for US aid issue. High-ranking officials of the kingdom did not discuss the Venezuelan crisis with other OPEC countries, and do not want to increase production due to Venezuela's problems.
EURUSD recommendation: Buy 1.1470 / 1.1450, and take profit 1.1569
The pound dollar pair GBPUSD forecast for today 01/31/2019
At present, it formed a mixed background for the British currency. On the one hand, the pound is able to demonstrate growth on the back of the dollar correction. The Fed has sent the dollar on the eve of a knockout - American sank strongly against many currencies. On the other hand, the uncertainty surrounding Brexit can not allow investors to build the "Long" on the pound. agreement reached in November between Brussels and London to withdraw the UK from the EU is "the best and the only possible transaction" and "it will not be revised," said European Commission President Jean-Claude Juncker at the plenary session of the European Parliament. In the British Parliament before the last hope for improvement Brexit conditions, but Brussels stands firm on his. This factor will restrain the strengthening of the British currency.
GBPUSD recommendation: flat 1,3070-1,3260
Dollar yen USDJPY Forex forecast for today 01/31/2019
The growth of the US stock market will support this currency pair. S & P500 index is set on the eve of a fresh six-week high. The Fed said there is no desire to quickly raise interest rates, which has been welcomed by investors in the stock market. According to the futures market in Chicago's central bank will not raise interest rates this year. The probability of a rate hike at the December meeting is estimated only 25%. Today completed trade negotiations the US and China, which could exacerbate the upward trend in the stock market. For the USDJPY pair is a positive signal!
USDJPY recommendation: Buy 108.60 / 108.40 and take profit 109.50