Main » 2019 » March » 5 » Forex forecast and recommendations today 05.03.2019: EUR / USD - the flat, GBP / USD - lateral trade, USD / JPY - long positions
Forex forecast and recommendations today 05.03.2019: EUR / USD - the flat, GBP / USD - lateral trade, USD / JPY - long positions
The euro dollar forex EURUSD forecast for today 03/05/2019
At present, formed a mixed background. On the one hand, the euro is able to demonstrate the reduction of quotations to 1.1290 against the background of the negative dynamics of the credit market, where the yield on 10-year German government bonds is reduced in relation to their counterparts in the US and UK. On the other hand, the continuation of the upward trend in the oil market can have a single European currency, strong support, as EURUSD and BRENT have historical direct correlation. In the market of black gold is now a decline in raw material supplies from Venezuela, Iran, Russia and Saudi Arabia, which will force investors to open positions Buy. In Venezuela, do not stop opposition rallies, and the United States together with HH threatened by the current president with new sanctions. States want to leave N. Maduro without "purse" - they want to lock up oil company PDVSA. As a result, the euro picture confused today, and it is advisable to open positions BRENT Buy with Target 66.80 oil.
EURUSD recommendation: flat 1.1280 -1.1380
Pound Dollar GBPUSD forex forecast for today 03/05/2019
Investors take a wait before the vote in the British Parliament on Brexit project which offered the Prime Minister T. Mae. Now calm before the storm on the debt market - the yield spread on 10-year UK government bonds and the US virtually unchanged. On the one hand, the demand for risky assets (equities, oil, copper, currencies of emerging markets) may provide support for the pound as the British correlates well with the data tools. Investors are increasing their "Long" in risky assets in the United States waiting for the termination of a trade war, and China. On the other hand, if investors want to buy the pound is now actively considering the political crisis in the United Kingdom. It is now a big question.
GBPUSD recommendation: flat 1.3130 -1.3220
Dollar yen USDJPY Forex forecast for today 03/05/2019
The course of trading in the currency pair is still strongly dependent on the sentiment in the stock markets, primarily in the US stock market. # SP500 index is set on the eve of a fresh peak for the last four and a half months, after which the market went to the correction. In my view, the downward movement of the US market is just compensation, not a reversal. Moreover, the current levels of investment funds can be used for building Buy positions, which in turn will boost the USDJPY pair. Why a correction rather than a reversal? Firstly, the US is ready to complete a trade war with China on March 27. J. Trump is very profitable, because growth of the market share is one of the priorities of the pre-election program. If the agreement with China will not, the stock market will crash. Trump this obviously does not want. Secondly,
USDJPY recommendation: Buy 111.78 / 111.55 and take profit 112.25