Forecast for June 24, 2016
News forex traders today:
11.00 MSK. Germany: Indicator conditions of the business environment from IFO for June (the previous value of 107.7; 107.6 forecast).
15.30 MSK. USA: Change in orders for durable goods in May (the previous value of 3.4% m / m forecast 0.1% m / m).
UK: results of the referendum on EU membership.
Forex Forecast EUR / USD on 24.06.2016
In the first half of the day should pay attention to the publication of data from the IFO Institute for the business climate in Germany.
Moderately positive dynamics of the composite PMI index of at Markit, which is closely correlated IFO indicator, allows today to rely on the data output bit better median forecasts that will support the single European currency. In the afternoon, the United States will publish the release on orders for durable goods in May, which may please investors as positive data. Strong data on new home sales in the primary and secondary market indicate an increase in consumer spending. Thus, taking into account Brexit and moderately positive statistics from the US during the day can be expected reduction of the single European currency.
Traders on the EUR / USD today is selling a pair Sell on the growth of quotations to 1.1000 / 1.1100 and take profit at the level of 1.0895.
Forex forecast GBP / USD today 06/24/2016
Results of the referendum announced: United Kingdom comes from the ES This outcome provoked the collapse of the British currency, which has fallen to its lowest level in thirty years. As the market grew up to the expectations of a positive outcome of the referendum in the last week, but now we will have a long wave of sales. You can not ignore the positive release yesterday on applications for benefits in the US unemployment: the indicator 4-week average fell to its lowest level in six weeks, indicating that the growth of employment and indicates the possibility of a good report on the labor market in early July. As noted earlier: in the afternoon we can expect positive data from the United States that would support the US currency.
Traders pair pound dollar during trading today is open Sell position on the growth of quotations to 1.3450 / 1.3550 and take profit at 1.3200.
Forex Forecast USD / JPY today 06/24/2016
Brexit took place, which caused a massive sell-off of risky assets. The course of trading today will be determined by the "risk appetite" of investors. On the debt market the differential yields on government bonds of the US and Japan was reduced significantly (by 0.2%), which is a bearish factor for the pair USD / JPY.Everything points to the fact that a couple of the growth necessary to actively sell, but there is one factor that may interfere with our plans. Bank of Japan and Ministry of Finance said today that the strengthening of the yen is excessive in nature, they are always ready to carry out a joint intervention. In this regard, today, do not trade on the currency pair, as uncertainty about the intervention is very high and Sell positions can be unprofitable.
Traders on the USD / JPY is now waiting for the flat within the range 99.00 -103.00.
Analyst « FreshForex »