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Main » 2016 » July » 5 » Forex forecast for today 07/06/2016 Traders Have time to sell USD / JPY!
Forex forecast for today 07/06/2016 Traders Have time to sell USD / JPY!



Weather forex July 6, 2016

News forex traders today:

15.30 MSK. USA: The balance of foreign trade balance for May (the previous value -37.4B; -40.0B forecast).

17:00 MSK. US: ISM composite index for the production sphere in June (the previous value of 52.9, forecast 53.5).

21.00 MSK. US: Publication of minutes of the Fed.

Forex. The forecast of the euro \ USD EUR / USD today 07/06/2016

The uncertainty surrounding the fate of the leading Italian and German banks, together with the weakness of the commodity market can open Sell position. 



European stock markets once again reeling as investors used the rebound after Brexit to build short positions.Product market observed decline in oil and copper, which has traditionally provided support for the US currency, as the cost of raw materials denominated in dollars. States in the second half of the forex trading may please investors is moderately positive for the ISM index data for the service sector, because, judging by the key macroeconomic indicators, economic growth accelerated. In the market of public debt differential in yield of US and German 10-year bonds at yesterday torgahprakticheski did not change, which does not allow to count on a strong euro sales. 

Euro Dollar recommendation: Players on the euro with the dollar on the foreign exchange market trading today is to sell the pair EUR / USD Sell on growth rates in the area of ​​1.1100 / 1.1140 and a target at 1.1020.


Forex. Prognozkursa pound \ USD GBP / USD today 06/07/2016

Traders pair pound \ dollar today three reasons to build short positions in the short-term rise in prices.

First, yesterday's negative report on the scope of the UK PMI services for June will contribute to the expansion differential of the United Kingdom and the United States indexes, which plays into the hands of the bears. ISM today publish a similar release of the United States and subject to the acceleration of economic growth in the second quarter, we see a moderately positive data.

Second, the yield of British 10-year government bonds in the credit markets is reduced in relation to the German and American, it reduces the attractiveness of investments in the United Kingdom assets. About the outflow of capital from Albion he spoke and the head of the Bank of England Governor Mark Carney: "sustained reduction in capital inflows will put further downward pressure on the Briton.

Third, the reduction of black gold quotes traditionally enhances the bearish sentiment on the British currency.Since the beginning of the trading week quotes black gold sank more than 5%. Yesterday, the British currency has tested the psychological level of 1.30, and in this regard, there may be some technical correction upwards, as investors may begin to take profits on the part of the shorts. 

GBP \ USD recommendations: traders sterling paired with gribekom today in currency trading is to sell the pair GBP / USD Sell the growth of quotations to 1.3100 / 1.3160 ​​and take profit at the level of 1.3010.


Forex. The forecast of the dollar \ JPY USD / JPY today 06/07/2016

fear index S & P 500 VIX eve grew by 10%, indicating a continuation of the downward trend in the currency pair.Reducing the "risk appetite" has traditionally provided support to the yen as a funding currency in the carry trade №1 operations. Who is the main driver to reduce prices. At the beginning of the trading week, I noted the fact that the USD / JPY pair ignores positive background, and it indicates the presence of strong sellers in the market. Apparently, these same sellers sformirovyvaetsya its position, and now the market is ready to fall. In this regard, we need to join this trend, and is extremely dangerous to go against such a strong trend. 

Dollar \ yen recommendations: Players on the dollar with the exchange of the rising sun today is to sell the pair USD / JPY Sell on the growth of quotations in the area of ​​101.75 / 102.25 and take profit at the level of 100.80.






Aleksandr Goryachev

Analyst «FreshForex»

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