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Main » 2019 » October » 1 » Forex forecast and recommendations today 01.10.2019: EUR / USD - negative background, GBP / USD - the publication of the PMI data, USD / JPY
09:06
Forex forecast and recommendations today 01.10.2019: EUR / USD - negative background, GBP / USD - the publication of the PMI data, USD / JPY

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Events today:

11:30 MSK. United Kingdom: PMI index for the non-production sphere in September.

12.00 MSK. Eurozone: Consumer Price Index for September.

17:00 MSK. US: ISM manufacturing index for September.


The euro exchange rate against the dollar forex forecast for EURUSD today 01/10/2019
 

Today is formed by a negative background for the euro. Firstly, strong sales of gold and silver indicate a downtrend for the single European currency as the euro is correlated with precious metals. Gold is trading at seven-week low, and now can see no reason to change the trend, on the contrary the trend is strong. Secondly, in the midst of the European trading session is expected to release weak inflation data in the euro area since the day before we got the negative data from Germany, where the harmonized index of consumer prices updated with at least November 2016.


EURUSD recommendation: Sell 1.0910 / 1.0925, and take profit 1.0870

 

 

 

 

 

 

Pound Dollar Fores GBPUSD outlook today 10/01/2019
 

Traders in the GBPUSD pair in the first Polosin trades should pay attention to yield data on business activity in the UK industry. Reduced factory orders signals a weak output data, which causes investors to re-build short positions in the pound. Ghost "hard BREXIT" is still haunting the United Kingdom, and British businesses are very afraid of the event. Since then, both in the UK has a new prime minister has not changed the situation completely, on the contrary, only increased geopolitical risks.


GBPUSD recommendation: Sell 1.2310 / 1.2328, and take profit 1.2265

 

 


 

Dollar yen forex forecast USDJPY today 10/01/2019
 

In the US, the first day of the new fiscal year, which means that US banks can now safely continue to speculate on the stock market. In the last decade of September US financial institutions were concerned with correcting their balance sheets to comply with all regulations Fed. Now the bankers reporting period is completed and you can safely return to their old cases. The index of "fear" the VIX shows a decline, which also points to the development of a bullish trend in the US stock market. This event, in turn, have a positive impact on the currency pair USDJPY, which has a strong correlation with the S & P500 index.


USDJPY recommendation: Buy 107.99 / 107.75 and take profit 108.30

 

 

Analytics FreshForex

 

 

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