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Main » 2020 » February » 3 » Forex forecast and recommendations today 03.02.2019: EUR / USD - mixed background, GBP / USD - Investors bug fixes, USD / JPY
Forex forecast and recommendations today 03.02.2019: EUR / USD - mixed background, GBP / USD - Investors bug fixes, USD / JPY


Events today:

18:00 MSK. US: ISM manufacturing index.

Forex EURUSD forecast today 03/02/2020

Today in EURUSD formed a mixed background. On the one hand, the upward trend in the gold market can provide good support for the euro as the European currency and precious metal historically correlated with each other. Investors continue to buy gold on concerns about the development of the coronavirus in China. On the other hand, in the evening the United States can please the market positive data on business activity in the industry from the Institute for Supply Management, which can cause short-term strengthening of the US dollar. Euro greatly increased in price in the past two trading days, and can now be a pause in the trend.

EURUSD recommendation: flat 1.1055 -1.1125






Forex forecast GBPUSD today 02/03/2020

United Kingdom February 1 came from the European Union, but the uncertainty about the trade is still preserved. In this case, the debt market optimism prevails: the yield spread on 10-year UK government bonds / US shows rapid growth. Investors are too pessimistic about the prospects for the UK economy in the first half of January and now correct this mistake. Traders should wait for the continuation of the upward trend for the pound today.

GBPUSD recommendation: Buy 1.3150 / 1.3133, and take profit 1.3190



The USDJPY outlook today 03/02/2020

All attention is focused on traders to China, where, after a long break open stock markets. Shanghai Composite Index opened the trading session with a gap down by 8%, due to the outbreak of coronavirus. China central bank foresaw this situation and provided $ 1.2 trillion. yuan commercial banks as part of repo operations. Thus rates week and two weeks REPO decreased by 0.1%. Will there be enough of the money to calm the markets? Judging by the dynamics of futures for the American S & P500 index turns out that liquidity is sufficient. US indices show today demonstrates the growth and demonstrates the decrease in gold. Against this background, it is possible to expect growth of quotations USDJPY.

USDJPY recommendation: Buy 108.40 / 108.22 and take profit 108.77



Analyst and forex forecast FreshForex



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