The euro dollar forex trading forecast for EURUSD today 24/01/2019
Today, currency players are waiting for the main event announcement ECB meeting outcomes. What can be said today of Mario Draghi at a press conference? It is probably a good bit to say. Firstly, inflation is not growing, despite the large-scale program of QE, in which the Eurozone central bank bought up a large number of bonds. Money poured into the economy at full capacity, and there is little sense. Secondly, in Germany and in several peripheral countries of the Eurozone GDP slows down, which is also of concern to the representatives of the local central bank. Based on this, we can draw a simple conclusion that Mr. Draghi said today about the need to maintain zero interest rates during the year and reinvestment of coupon income earned within the QE. For the euro is a sell signal, and for the European stock market (DAX30 and CAC40) is a signal to buy.
EURUSD recommendation: Sell 1.1410 / 1.1430, and take profit 1.1360.
Pound dollar forex forecast GBPUSD today 01/24/2019
Today, the currency of Albion is the strongest asset in the currency market! The dynamics of credit markets points to a continuation of the upward trend of the pound - the yield on 10-year British government bonds demonstrates the significant growth in the German and US bonds. It is a strong trend in the bond market to support the sterling during the day. "Soap Opera" at the time went under the screen of investors, and they turned their attention to the statistics from the UK, which this week signaled inflation expectations in the UK economy.
GBPUSD recommendation: Buy 1.3050 / 1.3030, and take profit 1.3100
Dollar yen USDJPY forecast for today 24/01/2019
Trading in the pair of USDJPY will depend on two key factors. Firstly, it is the policy of the Central Bank of Japan. On the eve of the regulator confirmed its intention to buy bonds in the amount of 80 trillion yen. Also, the regulator has lowered the forecast for 2019 GDP and inflation. For the Japanese yen is a bad signal! Second, the US stock market continued a season of corporate reporting, where such business giants as Procter & Gamble and United Technologies have pleased investors for its strong financial results for the fourth quarter. For the USDJPY pair is a positive signal! Thus, we get a signal for the continuation of the uptrend and we can expect today the pair to consolidate above the psychological level of 110.00.
USDJPY recommendation: Buy 109.45 / 109.20 and take profit 110.10