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Main » 2019 » November » 6 » Forex forecast and recommendations today 06.11.2019: EUR / USD - the demand for risky assets, GBP / USD - A good day for the pound
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Forex forecast and recommendations today 06.11.2019: EUR / USD - the demand for risky assets, GBP / USD - A good day for the pound

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Events today:

18.30 MSK. US data on crude oil inventories from the Energy Ministry in October.


The euro \ dollar EURUSD forecast for today 06/11/2019
 

High demand for "risk assets" will continue to put pressure on the value of the euro. Euro, Japanese yen and gold - the so-called safe assets that demonstrate the cost reduction during periods of rapid growth of the so-called risky assets. Now we have observed just such a speaker - investors are actively buying stocks around the world, building up the "Long" in the high-yielding currencies, increased purchases of crude oil and copper. Easier to say that someone does not grow in price than on who shows an upward trend. Why the euro is "safe asset"? The thing is the monetary policy of the ECB, namely low interest rates. I recall that in the euro area interest rates for several years now are at zero. The situation will change only if the central bank will raise rates several times,


EURUSD recommendation: Sell 1.1090 / 1.1112, and take profit 1.1055

 

 

 

 

 

Pound \ dollar GBPUSD outlook today 06/11/2019
 

Today, forex traders on GBPUSD pair should use the British rate reduction for opening long positions Buy for two reasons. Firstly, the index PMI Composite rose 0.7% in October, due to the positive dynamics in the service sector, which is positive for the British economy. Second, the high demand for "risk assets" has a positive effect on the oil market, which in turn will support the British currency because historically there is a correlation between the currency pair GBPUSD and oil #BRENT.


GBPUSD recommendation: Buy 1.2840 / 1.2821, and take profit 1.2891

 

 


 

Dollar yen USDJPY outlook today 06/11/2019
 

Tuesday's edition of Politico reported that Beijing puts Trump ultimatum in trade negotiations and requires the removal of trade tariffs in the amount of 112 billion. Dollars. This factor must be seriously supposed to scare investors. It is worth noting that over the past two weeks, various journalists twice scare stories about investors that trade talks between China and SSHSHA threatened and can be thwarted. But then a day or two officials from the United States Department of Commerce denied these allegations and said the willingness to cooperate with China. This can be beneficial such rumors? Of course, investment funds, which are these "ducks" in the media can take this opportunity to enter the market on a correction: retail investors, after reading the media at bay sell assets, institutional investors buy assets.


USDJPY recommendation: Buy 108.90 / 108.70 and take profit 109.33

 

 

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