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Main » 2019 » May » 8 » Forex forecast and recommendations today 08.05.2019: EUR / USD - lateral trade, GBP / USD - buying, USD / JPY - the psychological level
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Forex forecast and recommendations today 08.05.2019: EUR / USD - lateral trade, GBP / USD - buying, USD / JPY - the psychological level

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Events today:

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


Eur usd forex forecast for EURUSD exchange rate for today 08/05/2019
 

For EurUSD pairs in the forex market a mixed background generated today. On the one hand, there is a high interest of investors in gold, which is positive for the euro quotations as between gold and the currency in Europe is a strong correlation. On the other hand, the credit market sentiment changed, and now the yield of the German 10-year bonds fall to the British and US bonds. The European Commission has lowered the forecast for euro zone GDP growth for 2019 from 1.8% to 1.2%. Inflation in the euro area, the EC is estimated to be 1.4% in 2019 and 2020., Remaining below the ECB target with. It's hard to understand how the two factors will have a greater impact on the course of trading?


EUR / USD recommendation: flat 1.1170 -1.1240

 

 

 

 

 

Pound Dollar Fores forecast GBPUSD exchange rate for today 05/08/2019
 

Great Britain did not have time to leave the European Union before the elections to the European Parliament and will take part in them. Investors are hoping that on this background, the United Kingdom will be able to reach a compromise with Brussels and to conclude an agreement advantageous for himself. BREXIT should start on 31 October and a quarterly survey of CFOs in the UK showed that 35.6% of respondents consider another postponement the most likely scenario. While this is only a hope, but investors are now trying to catch at least for something positive, as positive on the market a little. Pound interested to buy in the psychological level of 1.3000.

 

GBP / USD recommendation: Buy 1.3030 / 1.3000, and take profit 1.3080

 

 

 

Dollar Yen forex rate forecast for USDJPY pair for today 08/05/2019
 

Tomorrow in Washington will start trade negotiations the United States and China, from which will depend on trends, like the stock markets, and in this currency pair, which has a strong correlation with the index # SP500. States accuses Beijing of violating the agreement - the Chinese are silent on this subject and are prepared to come to the US to continue the negotiations. What of all this can be concluded? Since the Chinese are silent on the accusations - which means that such infringements on their part really is. If it was clear, in response to a speech by J. Trump on Fees Chinese side could easily note the negotiations. But this is not done. US and China talks resemble a game of chess grandmasters - every player, "probes" the opponent in front of a decisive way. In my opinion, the Chinese will try to get out of this situation, and declares its readiness to make adjustments. Against this backdrop, J. Trump announced significant progress in the trade negotiations. How does this process affect the quotations pair USDJPY. Reversal of the downward trend, apparently, we'll see on Friday, when will summarize the 11 round of trade negotiations. Now the pair trading near 110.00 psychological level, where it is possible to expect a technical correction upwards.


USDJPY recommendation: Buy 109.89 / 109.65 and take profit 110.33

 

 

Analytics FreshForex

 

 

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