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Main » 2020 » March » 3 » Forex forecast and recommendations today 03.03.2020: EUR / USD - short positions, GBP / USD - the friction between the UK and the EU,
Forex forecast and recommendations today 03.03.2020: EUR / USD - short positions, GBP / USD - the friction between the UK and the EU,


Forex forecast of the euro against the dollar today, the EURUSD 03/03/2020


Forex traders in the EUR / USD pair today there are two reasons for the euro in sales. First, some representatives of the ECB said that the central bank is ready to increase incentives to combat the coronavirus. The next ECB meeting will be held next week of March 12 and the regulator may reduce interest rates and increase the program of QE. For the European currency is a negative signal, as monetary authorities several times to take such measures in the past 5 years, and always there was a decline of the euro. Second, investors will continue to increase "shorts" in gold, which also carries risks for the euro, since both instruments are highly correlated with each other. Investors are waiting for lower rates from the ECB and the Fed, and on this background, the gold loses its attractiveness for investment.

EURUSD recommendation: Sell 1.1184 / 1.1200, and take profit 1.1140






Forex GBPUSD forecast for today 03/03/2020

Today forex players in the pair GBP \ USD is waiting for a mixed background. On the one hand, retained friction between the UK and the European Union on customs issues. While no one wants to compromise and each side says that a consensus will be difficult to achieve. So it really is, or next political games? Most likely, this is the game of politicians, but usually these games are played in a long, and the whole process drags on for months. To pound it, though moderate, but still negative. On the other hand, futures rate FRS, indicates a 99% likelihood of reduction rates for meeting on March 18, wherein the rate is not reduced by 0.25%, and immediately by 0.5%. Such expectations may make investors begin to take profits on the "short" in that currency pair GBP / USD, which may cause the growth of quotations pound.

GBPUSD recommendation: flat 1.2755- 1.2820



The USDJPY outlook today 03/03/2020

The US president once again criticized the US Federal Reserve and its leader D. Powell. In his Twitter account, Donald Trump wrote the following: "As usual, Powell and the Federal Reserve are slow. Germany and other countries have poured money into its economy. Other CB behave much more aggressively. in the US the rate should be the lowest, but now it's not so much that robs us of competitive advantage. We need to be ahead rather than behind! " Fed listened to the criticism from Trump and cut interest rates three times in the past year. How will this time? There is a chance that the Fed will go to meet the US president and will reduce interest rates at its meeting on March 18 and will also increase the amount of QE program. How this event will affect the quotes? You can expect a small decline USDJPY rate

USDJPY recommendation: Sell 108.00 / 108.25 and take profit 107.70


FreshForex analyst



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