11:00 MSK. Germany: the business environment conditions indicator IFO of June.
The euro dollar forex trading forecast for EURUSD today 06/24/2019
Traders in the pair EUR / USD c opening of trading in Europe should not expect growth in the euro against the backdrop of positive news from Germany. IFO Institute report will be published, which may please investors as positive as the index is correlated with the PMI composite index, which in turn in early summer showed a maximum of four months. In the debt market, the situation has not changed and the yield of two-year government bonds, which is closely correlated with the rate of the Federal Reserve, is now at 0.6% below the rate the Federal Reserve. This factor indicates that the US Central Bank will soften its monetary policy, which has a negative impact on the value of the dollar.
EUR / USD recommendation: Buy 1.1350 / 1.1330, and take profit 1.1401
Dollar yen forex forecast USDJPY 24.06.2019
The trend in the dollar yen pair quite confusing. On the one hand, there is an increased demand for gold, which usually facilitates USDJPY-sale, as the Japanese yen and gold have a strong correlation. Investors buy the precious metal as an alternative agrinbeku. Fed could double in the second half of the year to reduce interest rates, which had a negative impact on the US currency. On the other hand, a bullish trend in the stock markets may trigger the growth USDJPY pair which has a correlation with index # SP500.
USD / JPY recommendation: flat 106.89 - 107.74