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Main » 2018 » August » 24 » Fundamental Forex Forecast and recommendations for today 24.08.2018: EUR / USD - The correlation of the euro and commodity market
Fundamental Forex Forecast and recommendations for today 24.08.2018: EUR / USD - The correlation of the euro and commodity market


Forex euro dollar forecast EUR / USD pair today 24/08/2018


Players in EURUSD in the first half of trading on the forex worth waiting for growth of the euro against the background of positive dynamics in the commodity market, where there is a strong demand for industrial metals and energy. Euro and commodities traded in the same direction and for the "bulls" on EURUSD is a positive signal! The main event today, an economic symposium in Jackson Hole - is the annual summit of the world's largest central banks. On the eve of a series of statements made by the representatives of the ECB, that the zero rate will persist until the end of next summer. The head of Germany's central bank, Jens Weidmann said that the normalization process, probably will be gradual over the next few years. Bond market hardly reacted to this statement - the yield of the German 10-year bonds remained unchanged, as investors were ready for such an outcome in advance. Against this background, all the market's attention will be focused on the speech D. Powell. Earlier this week, J. Trump harshly opposed the Fed chairman.

EUR / USD recommendation: Buy 1,1555 / 1,1525 and take profit 1,1622.








Forex Pound Dollar exchange rate forecast for the pair GBP / USD today 24/08/2018: buy oil and pound


Traders on the GBP / USD are two reasons to buy British:

First, the profitability of British 10-year securities increased to US and German bonds, it will support the UK currency.

Second, oil quotes will support sterling. Investors should wait for the growth of Brent to 75.94. On the eve of the Saudi authorities denied the information on the abolition of IPO Saudi Aramco state oil company. "The government still intends to make the IPO Saudi Aramco at the appropriate time, when the situation on the market is optimal, -. Said in a statement the Chairman of the Board of Directors of Saudi Aramco Khalid Al-Falih for the oil market is a positive signal, since the IPO is traditionally carried out on top of the market, when maximum prices. This means that the Saudis forward growth of oil prices above the high of the year (80.45).


GBP / USD recommendation: Buy 1,2815 / 1,2800 and take profit 1,2895.




Forex dollar yen forecast pair USD / JPY today 08/24/2018: continued growth

Today, the forex pair USD / JPY could test 112.00 area on the back of strong demand for risky assets. Investors around the world are buying stocks and industrial metals, energy - for the "bulls" is a positive signal, since the Japanese Yen is used in carry trade operations and as investors bought riskier assets, the yen depreciates. Conversely, when there are sales of risky assets, the capital returned to the Japanese yen. This is a simple rule that works in this currency pair the last two decades!


USD / JPY recommendation: Buy 111,30 / 111,05 and take profit 112,00.




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