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Main » 2018 » October » 16 » Forex forecast and recommendations for today 10.16.2018 : EUR / USD - long positions, GBP / USD - the flat, USD / JPY - buying
10:59
Forex forecast and recommendations for today 10.16.2018 : EUR / USD - long positions, GBP / USD - the flat, USD / JPY - buying

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The euro dollar forex forecast pair EUR / USD today 16/10/2018
 

Forex traders on the EUR / USD today, two reasons to open long positions.


First, the growth yield of the German 10-year bonds on the bond market to the British and US bonds, it will support the euro.


Second, this product market growth, especially in the metals sector, which will also have a positive impact on the euro, due to the direct correlation of the single currency and commodities. With regard to statistics from the US industrial production for September, is worth the wait, the index was at the level of the median forecasts. Today, we do not get strong data as ISM manufacturing index fell in September. For a dollar this news are neutral.


EURUSD recommendation: Buy 1,1570 / 1,1550 and pr take ofit 1.1620.

 

 

 

 

 

 

Pound dollar forex forecast pair GBP / USD today 16/10/2018
 

At present, formed a mixed background. On the one hand, it is possible to expect reduction of the pound against the background of the negative dynamics of the debt market, where the yield on 10-year UK government bonds is reduced in relation to their counterparts in the US and Germany, as investors began to expect a negative outcome of the summit ES and the United Kingdom on Brexit. To pound is a sell signal. On the other hand, the continuation of the upward trend in the oil market will support the British currency, due to the direct correlation of GBP / USD and Brent. Oil rises in price after the news about the new reduction of the production of hydrocarbons in Iran because of US sanctions, which will come into force on 4 November.


GBP / USD recommendation: fle 1,3090-1,3150.

 

 

 

Dollar yen forex forecast pair USD / JPY today 16/10/2018
 

Today the foreign exchange market players should expect an increase in the USD / JPY after the US stock market, where corporations continue to please investors with positive financial results for the third quarter of this year. On the eve of the growth of revenue and net profit has reported credit institution Bank of America and holding brokerage Charles Schwab. Since the USD / JPY pair is strongly correlated with the S & P500 broad market, the upward trend in the stock market will support the couple during the day.


USDJPY recommendation: Buy 111,99 / 11, 1.75 , and take profit 112,50.

 

 

 

Analytics FreshForex

 

 

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