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Main » 2018 » July » 17 » Forex forecast and recommendations for today 17.07.2018: EUR / USD - long positions, USD / JPY - the calm before the storm
Forex forecast and recommendations for today 17.07.2018: EUR / USD - long positions, USD / JPY - the calm before the storm


Events traders today:

16.15 MSK. USA: Industrial Production June (the previous value of -0.1% m / m; forecast 0.5% m / m).


The euro dollar technical outlook EUR / USD pair today 07/17/2018

Today, forex traders on EUR / USD waiting for positive news. Market participants are buying the euro against the yen, pound, Swiss franc, the signal of the presence of interest from investors in the currency of the Old World, and can have a positive impact on the course of EUR / USD. The euro will also have a commodity market where purchases are observed in metals, as the European currency has a strong correlation with gold and copper. In the second half of trading on the forex market, the players should not expect the depreciation of the euro after the release of a positive report on US industrial production for June, as ISM manufacturing index in the beginning of summer rose to a peak in the last four months.

EUR / USD recommendation: Buy 1,1715 / 1,1695 and take profit 1,1755.







Dollar yen forex forecast pair USD / JPY today 17/07/2018

The dynamics of trade over the last couple of days in steam dollar yen could be described as the calm before the storm. On the first day of the trading week its financial results for the first quarter published by such giants of the US financial industry, such as Bank of America and of BlackRock, the profit of which increased by 36.9% and 27% respectively. Today, there are reports from Goldman Sachs, Johnson & Johnson, United Continental. Investors are waiting for positive data that will cause growth of the index S & P500, which in turn has a strong correlation with the pair USD / JPY. Debt market also points to an upward trend - the yield spread of 10-year US and Japanese bonds is growing, which is positive for the dollar.

USD / JPY recommendation: Buy 112,40 / 112,20 and take profit 112,92.




Aleksandr Goryachev

Company analyst FreshForex



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