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Main » 2018 » March » 16 » Forex forecast for today 03.16.20 18 : buy USD / JPY, selling EUR / USD
Forex forecast for today 03.16.20 18 : buy USD / JPY, selling EUR / USD


Forex forecast on March 16, 2018

Events today:

15:30 MSK. US: The number of bookmarks of new foundations for February (the previous value of 9.7% m / m; the forecast -2.7% m / m).

16.15 MSK. USA: Industrial Production February (previous value of 0.1% m / m; forecast 0.3% m / m).

Forex euro dollar forex forecast pair EUR / USD today 03/16/2017

Forex traders today is to sell EUR / USD pair on a background of the negative dynamics of the bond market, the yield on German 10-year bonds fell to American and English papers. The yield on the German boom in yesterday's trading updated at least the past seven trading weeks. Players should wait for the release of mixed macroeconomic data from the United States. Rate of new foundations bookmarks demonstrate reduction by a decline in the volume of mortgage lending in February at 7.36%. For the most part weak data caused by the increase in mortgage rates - the average rate on 30-year loan in the last month of winter was 4.59%, against 4.32% in January. Industrial production of the report on the contrary, may please the traders on the background of positive data ISM index growth. In this regard, the American statistics will not be able to support the dollar.

EUR / USD recommendation: Sell 1 2315 / 1.2340, and take profit 1,2278.




Pound dollar forex forecast pair GBP / USD today 16/03/2018


Today, currency speculators waiting for a mixed background of the pound. On the one hand, investors are now concerned about the geopolitical tensions between Britain and Russia, which affects the debt market and could trigger a new wave of British currency sales. Differential yields on 10-year UK government bonds and the US declines, which is negative for the pair. On the other hand, the pound may make sense to the oil market, which ignored the negative statistics on reserves and production of oil in the United States. In the oil market right now there is a strong buyers, which may cause the growth of quotations Brent to 66.02, which could support the pound, because of the correlation of oil and the pair GBP / USD.

USD / JPY recommendation: flat 1.3880 1.3960.




Dollar yen forex forecast pair USD / JPY today 03/16/2018

The course of trading will depend on the dynamics of the US stock market, as the USD / JPY pair is strongly correlated with the S & P500 index. Players should expect an increase in quotes S & P500 for two reasons. 

Pervan, the index of "fear" the VIX shows a decline, which indicates that investors have forgotten about the factor "resignation Tillerson." That resignation of US Secretary of State in the middle of the week caused a massive sell-off in the market.

Second, investors are selling gold, which is also a positive factor for the stock market. In European markets Thursday closed trading growth, for instance, DAX index rose 0.88%. In this regard, during the day we can expect growth of quotations of the pair USD / JPY.

USD / JPY recommendation: Buy 105,90 / 105,65 and take profit 106,50.




Aleksandr Goryachev

Company analyst FreshForex




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