Events traders today:
17.15 MSK. USA: Industrial Production October (the previous value of 0.3% m / m; forecast 0.2% m / m).
Forex forecast the euro US dollar EUR / USD today 16/11/2018
Forex traders in the first half of trading should expect an increase in the EURUSD rate to the level of 1.1380, amid positive in the debt market and raw materials market. The growth of yield of the German 10-year bonds to American and British bonds will support the quotation currency of the Old World. In the commodity market is the demand for energy and industrial metals, it also supports the euro, due to the direct correlation of these instruments. OPEC + country discuss production decline in 2019, in the range from 1 million to 1.5 million barrels per day, according to Bloomberg citing the sources. The talks are preliminary, the final amount of the reduction will depend on the terms of reference, which the consent of the parties of the agreement. The current OPEC deal + is based on the level of production in October 2016, now discussed the basic volume of production updated to fix the parameters of the new cuts, said the source agency. The decision is expected to be adopted in early December at a meeting of OPEC in Vienna. In this regard, today traders should wait for Brent quotations growth in the region of 69.00.
In the second half of the session players should pay attention to a report on industrial production in the US in October. The leading indicator in PMI ISM's face in the middle of autumn showed an increase, indicating that the release of positive data. The highest growth was recorded in the states of Texas and New York. These could support the dollar for an hour - to more difficult Now count.
EURUSD recommendation: Buy 1,1333 / 1,1309 and take profit 1,1380.
Forex forecast for the pound dollar GBP / USD today 11/16/2018
The Briton continued to rally on a roller coaster - traders are watching the sharp and strong growth of the sterling, the drastic and the same strong depreciation. Only T. Meey announced the approval of the project with the Government of Brexit as three British ministers on Thursday tendered his resignation, because it does not agree with the policy of the prime minister. Now Brexit plan will consider the Parliament of Great Britain, and then the document must be approved by the countries of ES The summit will be held in Brussels on November 25 - so for at least another nine days, we expect high volatility in the market. Theresa May said yesterday that the process of normalization of relations between Britain and the EU could be delayed - for the pound is currently strong negative signal! If today, there are news that the parties can agree, then the Kingdom of the currency will show strong growth.
GBP / USD recommendation: flat 1,2750-1,2840.
Forex rate forecast for the dollar, the yen USD / JPY today 16/11/2018
China's financial authorities have outlined a number of possible concessions to the requirements of the administration of US President Donald Trump in an effort to resolve trade conflicts, said a number of representatives of the Chinese government. For the stock market is a positive signal! The meeting of the leaders of the US and China scheduled for November 30 in Argentina, where the G-20 summit will be held. Until that time, you can expect an increase in stock indexes of quotations and if at the summit in Argentina, the parties can reach a consensus, then in December, we expect a bullish rally in the stock market! For USD / JPY pair is a positive signal, because it is highly correlated with stock markets, due to the loose monetary policy of the Bank of Japan, which holds interest rates at 0.1%.
USD / JPY recommendation: Buy 113,25 / 113,00 and take profit 113,90.