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Main » 2019 » May » 23 » Forex forecast and recommendations today 23.05.2019: EUR / USD - a positive for the euro, GBP / USD - reason for the correction, USD / JPY -
Forex forecast and recommendations today 23.05.2019: EUR / USD - a positive for the euro, GBP / USD - reason for the correction, USD / JPY -


Eur usd forex forecast for EURUSD today 23/05/2019

For the euro today, it formed a moderately positive background. Firstly, Germany may please investors positive data on the PMI in the industry, as in the period from May to September, traditionally there is a seasonal increase in the volume of industrial production. Statistics from the United States on the other hand, may disappoint traders weak data on new home sales, as a negative release this week, we have seen sales in the secondary market. American consumers are not in a hurry to actively buy property due to high interest rates on mortgage loans. If the Fed cut rates by 0.25% at the end of the year, at the beginning of 2020 we will see a recovery in the mortgage market. Secondly, the likelihood of oil prices growth, which has a positive impact on the cost of the single European currency, due to the direct correlation of the two instruments. Russia in the period from 1 to 21 May, has reduced production of hydrocarbons to the level of 11.147 million. Bbl. / Day, which is 35 th. Barrels. / Per day more than the proposed transaction OPEC +. Reduction in the supply of black gold has traditionally has a positive effect on the cost of oil contracts.


EUR / USD recommendation: Buy 1.1140 / 1.1120, and take profit 1.1190







Gbp usd forex forecast GBPUSD today 23/05/2019

The GBP / USD pair overdue technical correction up now for this is a great reason. In the midst of trading in Europe, the release will be published on retail sales of the United Kingdom in April, which may be positive to please investors. The retail price index in April rose by 3% on an annualized basis, which indicates an increase in consumer demand. The growth of wages in Britain shows stable growth, which in turn contributes to an increase in consumer spending. In my view, the strong growth of the British currency quotations should not be expected today as the strengthening of the pound will be constrained by political uncertainty about BREXIT project. Prime Minister T. Mae offered the opposition a new UK release project from the ES, but the laborers are again ready to ignore the initiative of the Prime Minister, considering the project is very weak to implement it in practice. Political games not like investors, and they will not rush into buying the pound. Today, one can expect some profit taking on the "shorts" and the growth of quotations in the technical correction.

GBP / USD recommendation: Buy 1.2628 / 1.2605, and take profit 1.2690




Dollar Yen USDJPY Forex forecast for today 05/23/2019

After the publication of the Fed minutes trend in the futures market in Chicago is absolutely not changed - most investors still expect a decline in US interest rates to 0.25% at the December meeting of the Central Bank, despite the fact that the protocols indicated the absence of risks and the need to reduce rates . Why investors are based on the scenario for interest rate reduction? The thing is that the report was drawn up before the US escalation of a trade war, and China. Tensions between Washington and Beijing will force the Fed to lower interest rates - this is often indicated by the "hero of the occasion" D. Trump, which each month calls FED cut rates, preferably by 1%. The more rumors and expectations of interest rate cuts, the better for the stock markets, which in turn have a strong effect on the USDJPY pair.


USD / JPY recommendation: Buy 110.15 / 110.00 and take profit 110.74



ROBOT TRADE trading adviser who earns


Analytics FreshForex



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