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Main » 2019 » August » 6 » Forex forecast and recommendations today 06.08.2019: EUR / USD - The collapse of the US debt market, GBP / USD - The good news for the pound
Forex forecast and recommendations today 06.08.2019: EUR / USD - The collapse of the US debt market, GBP / USD - The good news for the pound


The euro dollar forex trading forecast for EURUSD today 08/06/2019

While the US and China trade blows in a trade war - the yield of two-year US government bonds, which is closely correlated with the interest rate of the Federal Reserve, fell below 1.6%, which is the minimum for the last 20 months. This factor has led investors to sell dollars and buy euros and gold. That two of these assets showed strong growth in the first day of the week. Currently the yield on US bonds at 0.52% lower Fed rates, which means that at least one lower interest rates at the meeting of the Central Bank on 18 September. That the situation has changed dramatically, it is necessary to J. Trump has postponed the introduction of duties on Chinese imports. Can such a scenario if implemented? Perhaps it will, but not now, and closer to 1 September. D. Trump likes to do to delay sanctions right before the final date. If Americans wanted to punish China, the duty would not have introduced September 1 and August 1. Why wait a month? So here it is not so simple and the various options. Today we expect a continuation of the bullish trend of the single European currency.

EURUSD recommendation: Buy 1.1189 / 1.1164, and take profit 1.1240





Pound Dollar GBPUSD forex forecast for today 06/08/2019

Traders on the pound now worth waiting for growth GBPUSD pair, against the background of positive dynamics in the credit market, where there is a growing yield spread UK / US bonds. Statistics from the state of the services sector disappointed investors - the ISM index of the PMI fell to its lowest level since May 2016. The reduction recorded in the price segment, and in new orders. American business registers a decrease in consumer spending, which is a negative factor for the US Federal Reserve, in the task, which is to maintain a stable rate of inflation. Futures on a bet the Fed is now points to 25% probability of a rate cut at the meeting on 18 September by 0.5% rather than 0.25% as it was at a meeting on 31 July. This is negative for the US dollar!


GBPUSD recommendation: Buy 1.2135 / 1.2114, and take profit 1.2197




Dollar yen USDJPY Forex forecast for today 06/08/2019

At present, formed a mixed background. On the one hand, it is possible to expect reduction of quotations on the background of capital flight from the US dollar. Investors are actively selling "greenbacks" and increase the "Long" in gold. On the other hand, the index of "fear" VIX S & P500 reached on Monday the annual maximum and we can expect a trend reversal downwards, which in turn have a positive impact on the stock markets and can support USDJPY, which has a close correlation with the equity markets.


USDJPY recommendation: flat 105.90 -106.95



FreshForex analyst 



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