The euro dollar forex trading forecast for EURUSD today 03/18/2019
Last five days in the growth of quotations of the euro, and is likely to continue uptrend this week. Now we can identify two reasons for the growth of the euro. Firstly, in the credit market yield spread on 10-year German government bonds and US shows growth that will positively affect the value of the euro. The futures market in Chicago indicates a 25% probability of reducing the discount rate the Fed at the meeting on 11 December. Investors are disappointed in the dollar. Second, the continued upward trend in the oil market will support the euro, due to the direct correlation EURUSD and BRENT. The IEA kept growth forecast for global oil demand in 2019 at 1.4 million barrels per day. Thus, the demand for oil in the world this year will reach 100.6 million barrels per day.
EURUSD recommendation: Buy 1.1320 / 1.1295, and take profit 1.1370
Pound Dollar GBPUSD forex forecast for today 18/03/2019
Political instability in the UK still remains. Many members of the government is still hoping for a way out of the EU on 29 March. Prime Minister Theresa May strongly opposed to such a scenario. Some reputable British MPs propose to hold a second referendum on Brexit, what also do not agree Mae. His support for the new referendum confirmed the opposition leader Jeremy Corbyn. Preparation of a new voting can take from 4 to 9 months. On Thursday, 21 March Brussels will decide on the postponement Brexit and investors are waiting for a positive outcome. How will this affect the pound? In my opinion, this event is already fully priced in. The course of trading today will depend on the dynamics of the credit market, where there is a positive trend, as the yield on 10-year UK government bonds is increasing in relation to their counterparts in the US and Germany. To pound is a good opportunity to above the level of 1.33.
GBPUSD recommendation: Buy 1.3270 / 1.3250, and take profit 1.3325
Dollar yen USDJPY Forex forecast for today 18/03/2019
At present, formed a mixed background. On the one hand, it is possible to expect growth of quotations on the background of the upward trend of the US stock market. Investors are actively buying shares because they do not expect the Fed to raise interest rates this year. As the USDJPY is correlated with the stock market, it is a positive signal for her. On the other hand, the decrease in yield spread on 10-year US and Japanese government bonds could cause a drop in prices pair USDJPY.
USDJPY recommendation: flat 111.25 -111.95