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Main » 2018 » March » 2 » Forex forecast for today 03/02/2018 Traders - sell GBP / USD
Forex forecast for today 03/02/2018 Traders - sell GBP / USD


The euro dollar forecast EUR / USD pair on 03/02/2018

Today, the situation on the EUR / USD pair is ambiguous. At present the euro and the reasons for the growth and decline. D. Trump late on Thursday announced the trade protectionism, which caused investors care in safe assets. showed growth of quotations of gold, the yen and the euro. Trump expressed support metallurgists, the US administration plans to introduce a levy on importers of steel and aluminum. It should be noted that the head of the Federal Reserve of New York William Dudley called trade protectionism deadlock. Fed turns against such measures, Trump insists on the opposite. The market on the eve of this factor has played and like everything is already priced in, but today a meeting of the ES, which will consider similar measures against States. It begins a trade war between the world's largest economy. On the other hand, can greenbacks growth 

EUR / USD recommendation: flat 1,2240-1,2330.







Forex Pound Dollar exchange rate forecast GBP / USD on 03/02/2018

GBP / USD - two reasons SELL.

First, the profitability of British 10-year bonds in the debt market, falls to the German and US bonds is negative for the pound.

Second, data from the UK and the US on the index of business activity in the industry also points to a downtrend. UK PMI following February fell to the lowest in the last ten months, the US figure rose to four-month high. 

GBP / USD recommendation: Sell 1,3799 / 1,3821 and take profit 1,3756.



Currency pair USD / JPY forecast for today 03/02/2018

Traders on the USD / JPY pair in the first half of trading should not expect to reduce the background of capital flight from risky assets. Market participants sold shares and go to gold and the yen. The reason for the sale was the statement by the President of the United States on the introduction of protective tariffs on imports of steel and aluminum in the amount of 25% and 10% respectively. Asian markets today are traded in a red color, drop leaders Japanese Nikkei index 225, which becomes 2.5%. Since the USD / JPY pair is strongly correlated with the Japanese stock market, you can expect a decrease in quotations of following shares. 

USD / JPY recommendation: Sell 106,20 / 106,40 and take profit 105,93.





Aleksandr Goryachev

Company analyst FreshForex


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