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Main » 2019 » June » 3 » Forex forecast and recommendations today 03.06.2019: EUR/USD - bad news for the dollar, GBP/USD - Pound ready to continue the correction
Forex forecast and recommendations today 03.06.2019: EUR/USD - bad news for the dollar, GBP/USD - Pound ready to continue the correction


Events today:

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

euro dollar exchange rate forex forecast for EURUSD 03.06.2019

The main event of the day today, the output of the industrial ISM index report. This index has a close correlation with the index of Manufacturing PMI Markit, which in May fell to a minimum for the last three years. Against this background, we can expect the release of weak data, which has a negative impact on the US currency. The negative statistics from the US increases the likelihood of the Fed's two-fold reduction in interest rates in the second half of the year - for the dollar is a bad signal!

EUR / USD recommendation: Buy 1.1158 / 1.1140, and take profit 1.1214.







Pound Dollar GBPUSD forex forecast for today 03/06/2019

UK currency is the fourth consecutive week, and shows a decline on Friday, investors covered short positions, which led to a technical correction. Players on the pair GBP / USD today worth waiting to continue the correction because the credit market is formed by the positive trend for the British currency - the yield spread on 10-year UK / US government bonds demonstrates the growth that will support the pound. Positive dynamics is formed at the expense of investor confidence in the US Federal Reserve lowering interest rates.

GBP / USD recommendation: Buy 1.2620 / 1.2600, and take profit 1.2674




Dollar yen forex forecast USDJPY 03.06.2019

Today, the pair USDJPY formed a mixed background. On the one hand, J. Trump pulls the course of negotiations the US trades and China, which adversely affects the value of the shares and thus has a strong pressure on USDJPY quotes. Apparently, the US president is waiting for the Fed's reduction of interest rates, to then sign a trade agreement with China, and thus provide a strong growth of the US stock market. On the other hand, between the index and the S & P500 index "fear" VIX divergence is observed, which usually indicates a correction on the stock markets, which could in turn cause USDJPY growth. The situation in this currency pair is very complicated.

USD / JPY recommendation: flat 107.70-108.50



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