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Main » 2016 » December » 11 » Forex forecast for today 12/12/2016: Euro - the weakest link!
Forex forecast for today 12/12/2016: Euro - the weakest link!


Forex forecast for today 12/12/2016: Euro - the weakest link!
Forex forecast the currency pair euro dollar (EUR / USD) as of today 12/12/2016

Today forex players are not waiting for the release of important economic data, and that the UNF, the euro / dollar may show some correction. Traders growth of quotations EUR / USD should be used for building Sell position for two reasons. 



The first reason, the yield on German 10-year government bonds is reduced to the English and American, it is negative for the euro. 

The second reason, on Wednesday held a meeting of the Federal Reserve, where players are waiting for a rate hike. Investors are likely to continue to buy greenbacks on the eve of this event, and the dollar index USDX basket update a maximum of November (102.12). Thus, in the near future EUR / USD exchange rate may test the 1.05 area. 

EUR / USD recommendation: Sell 1,0585 / 1,0635, take profit 1,0505.



Forex forecast the currency pair Pound Dollar (GBP / USD) as of today 12/12/2016

At present, formed a mixed background. debt market dynamics points to the growth of quotations. The yield on 10-year British government bonds rising to US and German, which increases the attractiveness of investments in the assets of Albion. However, as noted above, investors will continue to buy US currency before a meeting of FED and the pound may also fall under the wave of sales.Friday's data on consumer confidence from the University of Michigan reached the maximum in the last 12 years, signaling inflation acceleration. 

GBP / USD recommendation: the flat in the range 1.2520 -1.2630.



Forex forecast of the dollar, the yen (USD / JPY) 12.12.2016 Today

Couple grows past five consecutive trading weeks overdue technical correction. Perhaps it will happen after the announcement of the outcome of the US Federal Reserve meeting on interest rates. It can work well-known rule: buy on rumor - sell the fact! So far, the optimism in the stock markets increased too: many of the world indices hit record, "appetite for risk" is high enough. "Fear" index VIX decreases and approaches the minimum of the year, and where can be spread on the stock market. Thus, the couple is still a little older, then start a correction. 

USD / JPY recommendation: Buy 114,95 / 114,60, take profit 115,65.



Aleksandr Goryachev Company Analyst FreshForex



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