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Main » 2018 » July » 11 » Forex forecast for today 11.07.2018: EUR / USD -smeshanny background, GBP / USD - down, USD / JPY - buy
Forex forecast for today 11.07.2018: EUR / USD -smeshanny background, GBP / USD - down, USD / JPY - buy


Forex EUR / USD forecast EUR / USD today 11/07/2018

For the EUR / USD pair today a mixed background. On the one hand, the possible growth of the euro against the background of positive on the bond market, where the yield of the German 10-year bonds increased to the British and US bonds. On the other hand, sales in the commodity market may cause a rise in the dollar, as the raw material is quoted in US currency. The United States last night announced a new round of trade war with China and are willing to impose duties on goods from China amounting to 200 billion. Dollars. Investors fear a slowdown of the Chinese economy, which actively uses oil, copper, aluminum and other products. In this regard, we are witnessing a decline in quotations for raw materials. The question on introduction of fees has not yet been resolved in the next two weeks in the White House will be heated debate on the subject.

EUR / USD recommendation: flat 1,1700-1,1780.





Forex Pound Dollar exchange rate forecast GBP / USD today 07/11/2018

Traders on the GBP / USD - dveprichiny to open short positions.

First, UK investors upset weak macroeconomic statistics on the trade balance and industrial production for May. Both figures came out much worse than expected median, while in the US on the other hand, there is a positive trend for industrial production and trade balance.

The second report on the producer price index in the United States may please investors positive data against the backdrop of rising energy prices. Against this background, I expect to reduce the British currency quotes to yesterday's low. Strong sales of the pound should not be expected today as the upward trend in the market of black gold will curb decline of the pound, because of the strong correlation of GBP / USD and Brent. In the oil market are expected to supply disruptions from Libya and Norway, which is positive for the stock. Traders should wait for Brent growth today to 78.50.

GBP / USD recommendation: Sell 1,3270 / 1,3290 and take profit 1,3230.



Forex dollar yen forecast pair USD / JPY today 07/11/2018

Players on Forex USD / JPY should not expect a decline in the first half of the session because of the statements of the US government that the US are ready to increase the volume of goods from China, which will fall under the new 10% tax. Asian stock markets today came under a wave of sales in this statement: the leaders of the fall of the Shanghai Composite Index and the Nikkei 225, which lose more than 1%. European stock markets are also open quotations decrease. For USD / JPY pair is a signal to decrease, as it is strongly correlated with the equity markets. In the afternoon, likely growth of quotations on the background of the continuation of the upward trend in the US stock market.

USD / JPY recommendation: Buy 110,85 / 110,50 and take profit 111,30.





Aleksandr Goryachev

Company analyst FreshForex



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