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Forex forecast and recommendations today 02.10.2019: EUR / USD - Trump criticizes the Fed, GBP / USD - Technical correction, USD / JPY - Fle


Events today:

17:30 MSK. US data on crude oil inventories from the Department of Energy in September.

The euro exchange rate against the dollar forex forecast for EURUSD today 02/10/2019

Disappointing data on the index of business activity in the US industry signal the development of the upward trend in the currency pair. ISM PMI index for the second month in a row is lower than 50%. Reduced orders, both domestic and export. This is primarily due to fears of a trade war the United States and China. The next round of trade negotiations is scheduled for October 10-11. In China on the eve celebrated the seventieth anniversary of the republic and officials not to comment on the trade negotiations and the economy. In the United States, J. Trump has once again criticized the US Federal Reserve, expressing the need for a strong reduction of interest rates and redemption of bonds. It should be noted that the Fed reduces rates and buying bonds and Trump it is nothing more than populism.

EURUSD recommendation: Buy 1.0915 / 1.0899, and take profit 1.0952





Pound to dollar forex forecast GBPUSD today 02/10/2109

The GBP / USD pair overdue technical correction. Investors may begin to take profits on the "shorts" because the futures market in Chicago indicated a high probability of the Fed lowering interest rates at the meeting of 30 October. On the eve of interest rates lowered Bank of Australia, the third time this year. Of course, things can change on October 11, after the US and China talks, but prior to this event just over a week now, investors will focus on the possibility of another decline in United States interest rates.

GBPUSD recommendation: Buy 1.2261 / 1.2240, and take profit 1.2305




Dollar against the yen forex forecast USDJPY today 10/02/2019

Players pair USDJPY today waiting for a mixed background. On the one hand, the credit market indicates a downtrend. The yield spread on 10-year US and Japanese bonds demonstrates a strong decline. On the other hand, investors expect interest rate cuts by the Federal Reserve, which may cause the demand for shares in the US stock market. This factor, in turn, positively affect the value of USDJPY, as the pair is strongly correlated with the index # SP500.

USDJPY recommendation: flat 107.40 -108.30



FrehForex analyst



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