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Main » 2018 » July » 2 » Forex forecast and recommendations for today 02.07.2018: EUR / USD - lateral trade, GBP / USD - reasons to buy
Forex forecast and recommendations for today 02.07.2018: EUR / USD - lateral trade, GBP / USD - reasons to buy


Events traders today:

11:30 MSK. United Kingdom: PMI index for the manufacturing for June (the previous value of 54.4, forecast 54.1).

17:00 MSK. US: ISM manufacturing index for June (the previous value of 58.7, forecast 58.2).

The euro dollar forecast EUR / USD pair today 02/07/2018

Players on the EUR / USD pair today waiting for a mixed background. On the one hand, possible to reduce the euro currency exchange rate against the backdrop of negative on the bond market, the yield on German 10-year bonds fall to the British and US bonds. On the other hand, oil quotes are set to test the psychological level of $ 80 / barrel for Brent grade, it is positive for the euro, due to the direct correlation of the two instruments. Evening US statistics on business activity in the manufacturing sector can provide short-term support for the dollar, against the background of positive data from the Kansas City, Richmond and Dallas.

EUR / USD recommendation: flat 1,1610-1,1710.





Pound dollar forecast for today GBP / USD 02.07.2018

Traders on the GBP / USD - Buy for two reasons.

First , the debt market is a positive trend for the pound: the yield on 10-year UK government bonds is increasing in relation to their counterparts in the United States and Germany, which will support the British currency.

Second , there is a rise in oil prices, which is also positive for the pound, because of the direct correlation GBP / USD and Brent. Investors are waiting for the fall of the volume of production in Iran and Venezuela and buying oil contacts. In the US, the second consecutive week reduced the number of drilling rigs, which indicates that the oil is at its peak. Who started this July-month, when the G-20 economies have the highest demand for petroleum products. For oil quotations is a positive factor that will provide strong support for prices.

GBP / USD recommendation: Buy 1,3170 / 1,3150 and take profit 1,3215.





Aleksandr Goryachev

Company analyst FreshForex

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