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Main » 2019 » April » 3 » Forex forecast and recommendations today 03.04.2019: EUR / USD - Euro clamped in a vise, GBP / USD - Postponement BREXIT ?, USD / JPY - long
Forex forecast and recommendations today 03.04.2019: EUR / USD - Euro clamped in a vise, GBP / USD - Postponement BREXIT ?, USD / JPY - long


Events today:

17:00 MSK. US: ISM composite index for the non-production sphere in March.

17:30 MSK. US data on stocks of crude oil from the Department of Energy in March.

The euro dollar forex trading forecast for EURUSD today 04/03/2019

Euro clamped in "gripe". On one side, negative on the bond market indicates a fall in the EURUSD to 1.1150 - the yield spread on 10-year US and German securities falls two days in a row! Do not leave without attention and investment bank recommendation Goldman Sachs - the bank is actively recommends selling the dollar. In the market already there is a saying: if "Goldman" recommend to sell, then have to buy. And if so, then instead of a falling dollar, market participants may see its growth. Especially is this happening or accidentally - it's hard to say. But there is a pattern. On the other hand, the "bull rally" in the oil market could put pressure on the dollar and help the euro, as the greenback and the black gold have historically had an inverse correlation. Probably, Forex traders on the EUR / USD is now better to wait and watch developments. It is advisable to buy oil now, where there is a strong trend. BRENT variety can now test the 70.10 area.

EURUSD recommendation: flat 1.1150- 1.1250






Pound Dollar GBPUSD forex forecast for today 03/04/2019

T. Mae can not get parliamentary approval of the transaction by BREXIT and proposes to extend the time-to Britain from ES Speaking on the eve of European Commission President JK Juncker expressed his dissatisfaction with the political crisis in the UK, however, admitted the possibility of postponing BREXIT. What we have in the dry residue? Short-term for pound this is a positive factor and investors are now will buy the currency of Britain. Rising in price of oil also support the sterling, as there is a correlation between the GBP / USD and BRENT.

GBPUSD recommendation: Buy 1.3090 / 1.3060, and take profit 1.3145




Dollar yen USDJPY Forex forecast for today 03/04/2019

The average rise in consumer prices in the countries belonging to the Organization for Economic Cooperation and Development (OECD), in February 2019 remained at the level of the previous month - 2.1% on an annualized basis. Why is this news important for a given currency pair? Everything is very simple. Low inflation does not allow the world's central banks to raise interest rates. This is a good signal for the stock markets, which are growing at the inaction of the financial authorities. Since the Japanese yen is a funding currency in carry trade operations, the upward trend in the stock markets contributes pair USDJPY. The index of "fear" VIX S & P500 is currently at low levels, indicating a high level of interest of investors to buy shares.

USDJPY recommendation: Buy 111.25 / 111.05 and take profit 111.89




FreshForex analyst




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