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Main » 2019 » August » 7 » Forex forecast and recommendations today 07.08.2019: EUR / USD - range trading, GBP / USD - reason to buy the pound, USD / JPY
Forex forecast and recommendations today 07.08.2019: EUR / USD - range trading, GBP / USD - reason to buy the pound, USD / JPY


Events today:

17:30 MSK. US data on crude oil inventories from the Energy Department.

The euro dollar forex trading forecast for EURUSD today 08/07/2019

At present, formed a mixed background. On the one hand, it is possible to expect reduction of euro quotations 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, it will be published today the report on oil stocks in the United States, which may please investors positive data that have a positive impact on the cost of oil and the euro, which correlate with each other.

EURUSD recommendation: flat 1.1170 -1.1240







Pound Dollar GBPUSD forex forecast for today 07/08/2019

GBPUSD traders on the pair today are two reasons to open long positions. First, on the debt market remains positive trend for the British currency, as the rise of yield spreads UK / US government bonds. The yield on two-year US government bonds, which is closely correlated with the interest rate the Fed now stands at 1.62%, which is 0.5% lower than the FED rate. With probability of 80% (according to the exchange CME) Fed fall lower the interest rate twice more. This factor has led investors to sell the US currency. Second, the reduction of operating oil rigs in the United States, indicates a decrease in reserves of oil in storage, which has a positive impact on oil quotes and will further support the British currency,


GBPUSD recommendation: Buy 1.2140 / 1.2120, and take profit 1.2208




Dollar against the yen USDJPY Forex forecast for today 08/07/2019

The United States continues to hold manipulation in the stock market. Last week, J. Trump announced new tariffs on Chinese imports from 1 September, which caused a sharp drop in the stock market. Stock markets have fallen so much that the White House has decided to correct the situation - presidential adviser Larry Kudlou said that Trump would make a deal with Beijing. In May, when Trump announced duties on China's stock market fell by 6.8%, followed by positive messages began to twitter and we saw a good upward trend. Now the market fell by 8.2% and Trump's team once again holds verbal intervention. This factor will force investors to take profits on the "short", which in turn will boost USDJPY quotes.

USDJPY recommendation: Buy 106.10 / 105.85 and take profit 106.70



Analytics FreshForex



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