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Main » 2019 » August » 26 » Forex forecast and recommendations today 26.08.2019: EUR / USD - The correlation of the euro and gold, GBP / USD
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Forex forecast and recommendations today 26.08.2019: EUR / USD - The correlation of the euro and gold, GBP / USD

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Events today:

15:30 MSK. USA: Change in orders for durable goods in July

UK - bank holiday.


The euro \ usd forex forecast for EURUSD today 08/26/2019


EURUSD open Buy position for two reasons. Firstly, China August 23 announced new tariffs on US goods, which will come into force on 1 September and 15 December. This event once again caused an inversion in the market of US government bonds - the yield of 2-year bonds exceeded the yield on 10-year securities. Inversion traditionally reduces the value of the dollar that we have seen at the end of last week, when the USDX Dollar Index fell 0.58%. Second, the commodity market showed strong growth in gold and silver, which is also positive for the euro, since there is a strong correlation between the instruments.


EURUSD recommendation: Buy 1.1127 / 1.1110, and take profit 1.1160.

 

 

 

 

 

 

Pound \ usd forex forecast GBPUSD today 08/26/2019
 

The British pound last week showed strong growth of quotations and now, against the backdrop of the weekend in the UK, you can expect a sideways trend. British banks are closed today, while European and US investors will not rush to the opening position, and wait for a technical correction down again to buy a pound. I expect a continuation of the bullish rally in the pound, as the debt market is growing yield spread of government UK / US bonds. This indicator shows growth as investors await the Fed lowering interest rates, and the Bank of England no one expects rate cuts in September and October.


GBPUSD recommendation: flat 1.2230 -1.2300

 

 

 

Dollar \ yen USDJPY Forex forecast for today 08/26/2019
 

On the negative background is formed today. Firstly, it is possible to expect reduction of quotations on the background of reducing the yield spread on 10-year US and Japanese government bonds. D. Powell's speech at an economic symposium in Jackson Hole has caused sales of the US currency. Second, investors are actively buying gold and selling stocks that traditionally contribute to fire-sale of the currency pair. In my opinion, the sale of the stock market will be short-lived, as the world's leading central banks (US, Eurozone and China) are ready to lower interest rates to support economic growth.


USDJPY recommendation: Sell 105.70 / 105.85 and take profit 105.40

 

 

FreshForex analyst

 

 

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