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Forecast and recommendations of Forex today 16.12.2019: EURUSD - 2 important factors! GBPUSD - a trend reversal or correction? USDJPY


Events today:

11:30 MSK. Germany: PMI in the manufacturing sector

Forex forecast EURUSD rate today 12/16/2019

On EURUSD trading course will have a strong influence of two factors. First, the United States and China failed to reach a consensus on trade issues that will contribute to the safe-sale assets, which include the euro, Japanese yen and gold. In the US Congress, Democrats actively unwind the situation impeachment Donald Trump and the American president is now much needed victory on any front, as much as possible to increase your ranking. Second, today in the United States begins the tax period, which will contribute to increased demand for dollars. US Federal Reserve at the end of last week noted the high demand for dollars in the banking system. Against this background, possible depreciation of the euro quotations below 1.1100.

EURUSD recommendation: Sell 1.1139 / 1.1155, and take profit 1.1090





Forex forecast GBPUSD today 12/16/2019

At present, the pair GBPUSD formed a mixed background. On the one hand, the dynamics of the debt market indicates a decrease in the value of sterling, as the yield differential of 10-year securities UK / US shows a decline. What it is: a trend reversal or correction due to the results of the parliamentary elections? This is the second script and the technical correction will be completed in the near future. However, this factor will now be to restrain the strengthening of the pound. On the other hand, the bullish rally may provide strong support for the pound as the British currency is correlated with oil BRENT. Oil traded at two-month high, and investors are increasing, "Long" on lower OPEC production.

GBPUSD recommendation: flat 1.3350 -1.3425



Prediction currency USDJPY today 16/12/2019

Forex players today are two reasons to buy a pair USDJPY. First, the growth yield spread of 10-year securities of US / Japan in the credit market that would support the US dollar. Second, today and tomorrow in the US corporations must pay taxes, which will cause the demand for dollars. Already Libor interbank lending rate exceeds the rate the Fed - in such periods banks fixed dollar deficit and forced to raise interest rates to attract dollar liquidity.

USDJPY recommendation: Buy 109.32 / 109.18 and take profit 109.81



FreshForex analyst




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