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Forex forecast and recommendations today 05/27/2020


Euro to dollar EURUSD forecast today 05/27/2020

The dollar basket index USDX on the eve fell by 1%, which was the largest intraday decline since March 27. The dollar fell both against the currencies of developed economies and against developing ones, which indicates a strong trend against the US currency. The dynamics of the debt market confirms this trend: the yield spread of 10-year German / US government bonds is growing. The only thing that bothers you is the high volume of repo transactions in the American interbank lending market. On Tuesday, US banks borrowed $ 34.5 billion from the Fed, the highest level in two weeks. Bankers are in need of dollars and in such periods the dollar does not fall much. Now the quotes of the EURUSD pair are in the area of ​​psychological level 1. 1000 - the pair tried to break this level twice in the last 4 weeks, but both attempts were unsuccessful. Given the increased demand for repos, today's third attempt may also be unsuccessful. But if the euro nevertheless breaks this level today and closes the day above 1.1018, then forex traders will find a good uptrend on Thursday-Friday.

EURUSD recommendation: flat 1.0930 -1.1020






Forex forecast GBPUSD for today 05/27/2020

Today, in the absence of important macroeconomic statistics, the course of trading in the GBPUSD pair will be determined by investor sentiment on commodity and stock exchanges. The British pound, in the absence of important news, historically correlates with the so-called “risky assets”, which include stocks, copper, oil. This week we are witnessing a high demand for this class of assets - investors on all continents are actively buying up stocks, energy and industrial metals, amid expectations of the imminent completion of the COVID-19 pandemic. Since the beginning of the year, the total balance sheet of the US Federal Reserve, the European Central Bank, the Bank of England, the Bank of Japan and the Reserve Bank of Australia has increased by $ 5 trillion. It is this factor that has a positive effect on “risky assets”. Central banks will continue to issue money, at least until the end of this year,

GBPUSD recommendation: Buy 1.2315 / 1.2299 and take profit 1.2345



Dollar to yen forex forecast USDJPY today 05.27.2020

Haruhiko Kuroda, head of the Bank of Japan, said that the central bank could take additional measures to mitigate the economic consequences of the coronavirus pandemic, maintaining a gloomy forecast even after the cancellation of the emergency in Tokyo. The statement by the head of the central bank of Japan followed the announcement of a lending program for small businesses affected by the pandemic at the end of last week. “The Bank of Japan can expand lending programs, lower interest rates and increase the purchase of exchange-traded funds. The bank can even offer something new if necessary, ”said Kuroda, speaking in parliament. “Now it’s important to ensure the stability of markets so that, after containing the pandemic, the Japanese economy will be able to return to the path of recovery.” For the USDJPY, Haruhiko Kuroda’s performance is positive.

USDJPY recommendation: Buy 107.49 / 107.25 and take profit 107.90



FreshForex analytics


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