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Forex forecast and recommendations today 04.10.2019: EUR / USD - Fed likely to reduce rates of 88%, GBP / USD - British "soap opera"


Events today:

15:30 MSK. USA: Change in the number of people employed in non-farm payrolls for September.

15:30 MSK. US: Changes in average hourly wages for September.

The euro exchange rate against the dollar forex forecast for EURUSD pair today 10/04/2019

Reducing the likelihood of the US Federal Reserve at the discount rate on 30 October, is now 88%, according to CME. Usually, when the probability is about 80%, the market expectations coincide with the opinion of the US central bank. Ahead of the players expect the two events, which may either reinforce this trend, or change it. The first event today, when in the second half of the session will report on the labor market in the US in September. The second event will take place next week, when Washington will conclude trade talks between the US and China. Today's NFP release can not please investors positive data, as all the leading indicators point to a worse than expected data out of the median. Against this background, we should expect short-term growth of EURUSD.

EURUSD recommendation: Buy 1.0959 / 1.0945, and take profit 1.1001





Pound dollar forex forecast pair GBPUSD today 10/04/2019

two key factors that influence the course of trading can be identified. Firstly, it is the British "soap opera" called BREXIT. In the British parliament, divergent opinions are observed every week: the majority of the speakers hit all agree B. Johnson, a sharply condemn it. Earlier this week, British Prime Minister harshly criticized, and there were calls for his resignation. On the eve it was reported that the Cabinet of Ministers headed by Johnson prepared BREXIT project for Brussels, which the European Union is supposed to agree.

Secondly, it is necessary to draw attention to the publication of US labor market data. We are interested in two metrics: Non-Farm and the growth rate of average earnings. Based on its leading indicators index will first be worse than expected median, and the second line with market expectations. Against this background, we can expect a small growth of the British currency quotes.

GBPUSD recommendation: Buy 1.2320 / 1.2300, and take profit 1.2350




Dollar yen USDJPY Forex forecast for today 10/04/2019

The US stock market is one of the largest corporations published its financial report for the third quarter. The lion's share of reports will be published in the reborn from 11 October to 15 November. It should be noted that the results of PepsiCo surpassed the expectations of traders in terms of revenue and net profit. Revenues increased by 4.4% to USD 17.19 billion.. This is a positive signal for the US stock market, as many investment banks expect the weak performance in the third quarter. The first attempt was unsuccessful clod! Investors expect the US Federal Reserve lowering interest rates at the meeting on 30 October, in the short term will cause a decrease in quotations of the currency pair. It is worth noting that the continuation of the bullish rally in the US stock market will not allow the USDJPY falling heavily.

USDJPY recommendation: Sell 107.05 / 107.20 and take profit 106.83




Analytics FreshForex



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