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Main » 2018 » March » 5 » Forex forecast for today 03/05/2018: Trader am worth buying greenbacks
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Forex forecast for today 03/05/2018: Trader am worth buying greenbacks

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Forex Forecast March 5, 2018

The main event today:

12:30 MSK. United Kingdom: PMI index for the services sector in February (the previous value of 53.0, forecast 53.3).

18:00 MSK. US: ISM composite index for the non-production sphere in February (the previous value of 59.9, forecast 58.9).

 

The euro \ USD forecast for today EUR / USD 05.03.2018
 

Forex traders on the EUR / USD, two reasons to use EURO Sell growth for sales.


First, the yield differential German and US 10-year bond falls, it is a negative signal for the euro.


The second report on the index of consumer confidence from the University of Michigan, with a decrease in applications for unemployment benefits, it is a signal the release of strong data on Non-Farm, which will also contribute Euro sales at current levels. Investors can now start to buy the US currency ahead of the release of strong macroeconomic statistics on the labor market in the United States, which will be released on March 9. 


EUR / USD recommendation: Sell 1,232 5 / 1.2350, and take profit 1,2265.

 

 

 

 

 

Forex forecast for the pound dollar GBP / USD today 03/05/2018


Traders on the GBP / USD today is to sell the British against the backdrop of negative credit market. The yield on British 10-year bonds fall to amerkianskim and German bonds. This is a strong negative for the pound, Spread UK / US fell to the lowest level in the past two months, which is a strong "bearish" signal. On Friday, T. Mae held a press conference after talks with HH on Brexit and the market reacted negatively to her words, market participants do not believe that the British leader will be able to negotiate additional dividends for Albion. 

 

GBP / USD recommendation: Sell 1,3790 / 1,3815 and take profit 1,3750.

 

 

 

Forex rate forecast for the dollar, the yen USD / JPY today 05/03/2018
 

Speculators foreign exchange market for the pair USD / JPY should open BUY position at the background of positive dynamics of the stock markets, which correlates the pair. After a protracted market correction uchastikov return to the US stock market. The index of "fear" the VIX falls, and the leaders of growth of paper high-tech sector - such dynamics indicates a high level of interest of traders in the stock market. In the afternoon, following t pay attention to the publication of the index ISM Non-Manufacturing PMI in the US data. I expect positive data amid rising incomes and tax reform. Positive release will also support the greenback. 


USD / JPY recommendation: Buy 105, 50 / 105,30 and take profit 106,00.

 

 

 

 

 

Aleksandr Goryachev

Company analyst FreshForex
 

 

 

Views: 56 | Added by: mik | Tags: forecast the pound dollar gbpusd to, the euro, Forex, forex forecast for today, forecast of the dollar usdjpy yen t, forecast rate eurusd t | Rating: 0.0/0
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