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Forex forecast and recommendations today 05.12.2019: EURUSD - two reasons to sell, GBPUSD - two scenarios, USD JPY


Events traders today:

16:30 MSK. United States: the balance of foreign trade.

The euro to dollar forex trading forecast for EURUSD today 05/12/2019

On the eve of the euro has renewed three-week high, but failed to gain a foothold above the level of 1.1100. Today, traders in the EURUSD pair is worth waiting for the downward trend for two reasons. First, reducing the yield spread of 10-year bonds in Germany / US, which traditionally has a negative impact on the euro. The yield on US bonds is growing rapidly, which will provide support for the dollar. Second, investors are actively buying shares in global stock markets, which will lead to a decrease in gold and the euro, as the precious metal is highly correlated with the single European currency. Those traders who thought that stock markets will collapse in December, may be very disappointed, because the United States and China are ready to sign a trade agreement until 15 December, on the eve of what officials say US Department of Commerce.

EURUSD recommendation: Sell 1.1096 / 1.1116, and take profit 1.1045






Pound Dollar forex GBPUSD forecast for today 05/12/2019

The Briton has updated a maximum of seven months. Two scenarios can now be considered. Both suggest the growth rate of sterling. In the first scenario can be expected to increase from current levels in the 1.3170 area, which may be caused by continuation of the bullish rally in the oil market, as the British currency is strongly correlated with oil BRENT. Tonight will be announced the results of the OPEC summit and many of its members in favor of the prolongation of the agreement on limiting the production of hydrocarbons or before July 1, 2020, or until January 1, 2021. In the second scenario, you can expect a technical correction to 1.3075, then quotes again show growth. Debt market indicates just such an outcome: the yield spread on 10-year UK government bonds / US shows a decline. Today, it is advisable to wait for the correction,

GBPUSD recommendation: Buy 1.3075 / 1.3059, and take profit 1.3131



Dollar against the yen USDJPY Forex forecast for today 12/05/2019

Upward trend in global stock markets will have a positive impact on the quotation of the currency pair. Investors are once again buying shares in global markets - we see a bullish rally on all continents. Earlier this week, Donald Trump criticized the Celestial Empire, and spoke of the unwillingness to enter into an agreement with Beijing, but on Wednesday, his aides said that the trade agreement will be signed in the next two weeks. Why so the mood has changed? At Trump has repeatedly seen this tactic: first to say something negative, then something positive. In the coming days, market participants should not expect a new record on the US stock index S & P500, which in turn will allow the USDJPY pair to test the psychological level of 110.00.

USDJPY recommendation: Buy 108.70 / 108.55 and take profit 109.14



FreshForex analyst 


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