Forecast June 21, 2016
The main forex news for today:
12.00 MSK. Germany: Consumer Sentiment Index in the business environment from the ZEW Institute in June (the previous value of 6.4; forecast 5.1).
17:00 MSK. USA: Statement by the Federal Reserve Board of Governors Chairman Janet Yellen in Congress.
Forex forecast euro dollar EUR / USD today 06/21/2016
Players pair euro dollar today in the first half of trading is necessary to pay attention to the publication of data on ZEW index in Germany in June. This indicator demonstrates a moderately positive trend in the past two months, however, fears about Brexit may cause an increase in the number of pessimists among ZEW institute respondents.
In general, the trends in the German economy may be called positive. Positive balance of payments in April totaled 28.8 billion. Euros, showing an increase of 46.9% y / y. Total for this year, the first four months of positive balance increased by 24.7% y / y. However, uncertainty around Brexit currently outweighs all the other positive factors today, in my opinion, we do not see strong evidence that will not support the euro. In the afternoon, you should pay attention to the speech of the US Federal Reserve Chairman in the Congress with the semi-annual report. Traders will wait for a hint of change in monetary policy. In my opinion, D. Yellen will focus on external risks (Brexit and economic slowdown in China) and in this regard, points to the fact that it is necessary to wait for the outcome of the referendum in the UK, and then again to the issue of raising the discount rate.
Recommendations for EUR / USD: today, traders on the euro in tandem with the US dollar is worth waiting for the flat in the range 1.1300 -1.1400.
Forex forecast for the pound dollar GBP / USD today 21/06/2016
The course of trading in the currency pair during the trading week will be determined by expectations about Brexit. Already almost every day we get more and more surveys, which determine the mood of investors.Bloomberg agency published on the eve of the new study, which pointed out that the UK will remain a part ESInvestors are focused right now on this factor and prefer to build long positions on pullbacks. In the credit markets, the yield on 10-year government bonds is increasing in relation to their counterparts from the United States and Germany, which increases the attractiveness of investments in British assets.
GBP / USD trading recommendations: traders pound dollar today worth buying a pair Buy on dips to 1.4650 / 1.4600 and take profit at the level of 1.4700.
Forex rate forecast for the dollar, the yen USD / JPY today 21/06/2016
As noted in the previous review - sellers completely control the situation in a given currency pair. The day before, investors are once again ignored the positive background - despite the increase in "risk appetite" pair USD / JPY finished the day in the "red zone". Investors went into the yen, as in "safe asset". Uncertainty around Brexit is still high and the market participants clearly did not know what to do. However, today in the Asian trading session, we see the development of an upward trend. Leading Asian stock markets finished the day in the "green zone", which allowed the pair USD / JPY to move away from the minimum levels of the year. As noted earlier, the head of the US Federal Reserve, today will not talk about the imminent increase in interest rates, and greater focus on external risks, which also have a positive effect on risky assets.
USD / JPY trading recommendations: Today, the players on the dollar against the yen is worth buying a pair Buy's reduction of quotations to 104.20 / 103.80 and take profit at the level of 104.65.
Analyst « FreshForex »