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Main » 2018 » May » 29 » Forex forecast for today 29.05.2018: EUR / USD - short positions, GBP / USD - Flete
Forex forecast for today 29.05.2018: EUR / USD - short positions, GBP / USD - Flete


17:00 MSK. US: Consumer confidence indicator in May (the previous value of 128.7; 128.2 forecast).

Forex EUR / USD forecast EUR / USD today 29/05/2018

The political crisis in Italy led the rating agency Moody's said on the possibility of reviewing the credit rating of the third eurozone economy. Italy has the highest ratio of debt to GDP of the five leading European economy, which is 131.8%. For example, in Germany the figure is at around 64.1%. On Monday, the country's president Sergio Mattarella refused to approve the list of the members of the new government, since the post of minister of economy claimed Paolo Savona, known sharp criticism ES and insisting on fiscal austerity to reduce public debt. P. Savona urges Italians to withdraw from the euro zone and the ES to reboot the economy. Now while it is only a talk, however, exactly four years ago similar conversations led Greece and the euro against this background that showed a strong decline in prices. Today, this factor will have a strong influence on the course of trading on the single European currency.

EUR / USD recommendation: Sell 1,1635 / 1,1660 and take profit 1,1584.







Forex GBP / USD forecast pair GBP / USD today 29/05/2018

Players Briton now waiting for a mixed background. On the one hand, it is possible to continue reducing and testing minimum 25 May (1.3292) against the background of the oil market correction, as the GBP / USD pair has a strong correlation with Brent. The oil market is waiting for the negative statistics from the US reserves, which will be released on Thursday, as the number of drilling rigs has increased over the past week to 15 units, which is the highest growth rate over the past 10 weeks. On the other hand, the growth rate is possible to the level of 1.3360, as the American statistics on consumer confidence from the Conference Board in May can get worse than expected median, it can put some pressure on the greenback. A similar index of consumer confidence from the University of Michigan fell to the lowest level in four months in May.

GBP / USD recommendation: flat 1,3290-1,3360.



Forex dollar yen pair forecast USD / JPY today 05/29/2018

US investors are now returning to work after a long weekend, and I expect the growth of S & P500, which had a positive impact on quotations pair as between USD / JPY and the US stock market there is a strong correlation. In mid-May the stock market traders were spooked by two factors, and in no hurry to buy securities. Firstly, there was a sharp increase in the yield on 10-year US Treasuries. Second, the United States and North Korea announced the cancellation of the summit on 12 June. Now both problems are solved, it is positive for the US stock market. The yield on US Treasuries fell by 0.2%, while the summit J. Trump and Kim Jong-un will be held in Singapore on 12 June.

USD / JPY recommendation: Buy 109,00 / 108,70 and take profit 109,82.






Aleksandr Goryachev

Company analyst FreshForex




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