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Main » 2019 » July » 2 » Forex forecast and recommendations today 02.07.2019: EUR / USD - the flat, GBP / USD - Pound afraid Johnson, USD / JPY
Forex forecast and recommendations today 02.07.2019: EUR / USD - the flat, GBP / USD - Pound afraid Johnson, USD / JPY


The euro dollar forex trading forecast for EURUSD today 07/02/2019

On the one hand, the forex traders in the EUR / USD pair, you can expect a decrease in the euro quotations against the background of sales of gold, as the euro has a strong correlation with the precious metal. Gold is very much increased in price in June on concerns about a trade war the United States and China, and after a positive G-20 summit, where Washington and Beijing announced the armistice, investors started to shut down the "Long" in gold. Gold this week may demonstrate the correction to $ 1370 / oz, which is negative for the euro. On the other hand, weak data on business activity in the US manufacturing in June may again cause the US dollar sell-off. ISM Manufacturing PMI value was 51.7% versus 60.2% a year earlier. For June is traditionally characterized by a high value of PMI - in the range of 54-58%. Now, we got a very weak report. Last time such weak figures observed in June 2012. Meaning ISM Manufacturing Prices 47.9% - index fell below the 50% level for the first time in four months. This factor indicates a decline in inflation, which is another argument for the Fed to lower interest rates on 31 July.

EUR / USD recommendation: flat 1.1260 -1.1340







Gbp usd forex forecast GBPUSD today 07/02/2019

The main contender for the post of British prime minister B. Johnson once again hit out of BREXIT - politician determined to Britain's exit from ES at the end of October and does not want any "delay". Johnson is now quite popular among people who are tired of the norms and rules of Brussels. British society wants change, and Johnson skillfully uses the current situation and makes "political capital." If the population of the United Kingdom like Boris Johnson, the investment funds, on the other hand are afraid of him and closed positions on the British currency. According to reports CFTC funds increased sales of pounds to a maximum of the last four months. OPEC's decision to extend the agreement on the limitation of oil production have a positive impact on the cost of oil, which will not allow the British currency to fall heavily,

GBP / USD recommendation: flat 1.2600 -1.2680




Dollar Yen forex forecast USDJPY today 07/02/2019

Traders in the pair USD / JPY long positions today Buy for two reasons. First, the debt market yield spread on 10-year US and Japanese government bonds demonstrates the growth, which is a positive factor for the "bulls". Secondly, the index of "fear" the VIX shows a decline that signals a continuation of the upward trend in the US stock market. This factor will have a positive effect on USDJPY quotes because the pair has a strong correlation with the S & P500 index. Investors are focused on two main themes of this summer: the Fed lowering interest rates on 31 July and conducting trade negotiations the US and China. Both factors support equity markets. Strong growth is now demonstrating emerging markets: Brazil, Russia, and Turkey.

USD / JPY recommendation: Buy 108.20 / 108.00 and take profit 108.79




Analytics FreshForex



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