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Main » 2019 » December » 2 » Forex forecast and recommendations today 02.12.2019: EUR/USD - Report ISM, GBP/USD - the flat, USDJPY
Forex forecast and recommendations today 02.12.2019: EUR/USD - Report ISM, GBP/USD - the flat, USDJPY


Events today:

18:00 MSK. US: ISM manufacturing index.

The euro to dollar forex trading forecast for EURUSD today 02/12/2019

Output in the United States ended, and today all the participants on the market. Euro on Friday renewed a five-week minimum, and today I expect a continuation of the downward trend for two reasons. Firstly, according to statistics from the US ISM index in industry may please investors positive data as Markit agency previously recorded a growth of business optimism in the US manufacturing sector. Index Manufacturing PMI from Markit Economics rose to a seven-month high in November. ISM and Markit Indices correlated with each other and against this background can be expected to yield a positive release tonight. Second, the debt market, a decrease in yield spread of 10-year government bonds in Germany / US, that usually indicates a downward trend in the EURUSD pair.

EURUSD recommendation: Sell 1.1028 / 1.1046, and take profit 1.0985




British Pound Dollar forex forecast pair GBPUSD today 02/12/2019

The GBP / USD pair today forex players waiting for a mixed background. On the one hand, a moderately positive dynamics of the debt market indicates a growth rate of sterling. The yield on ten-year UK government bond grows moderately relative to their counterparts in the US and Germany. On the other hand, in the second half of the day can be expected to yield a positive release of the index ISM Manufacturing PMI, which will support the US dollar. Against this background, it is difficult to understand which of the two factors will have a greater impact on the course of trading.

GBPUSD recommendation: flat 1.2885 -1.2955



US dollar against the yen forex forecast USDJPY today 12/02/2019

The US stock market closed last week above the level of 3143 by index # SP500. Donald Trump in his twitter congratulated all Americans with this record. Formerly Trump on social networks scolded the Fed and Beijing: the first for what does not reduce interest rates, and the second for its unwillingness to negotiate on trade issues. Now Trump does not write anything on the subject, absolutely nothing. The Fed cut rates three times this year, and China is ready to strengthen laws to protect intellectual property, as well as plans to increase purchases of American agricultural products. This is positive for the US stock market, and for the USDJPY, as the pair is strongly correlated with the index # SP500.

USDJPY recommendation: Buy 109.47 / 109.30 and take profit 109.90



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