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Main » 2020 » February » 6 » Forex forecast and recommendations today 06.02.2020: EUR / USD - Two reasons Sell, GBP / USD - range trading, USD / JPY
Forex forecast and recommendations today 06.02.2020: EUR / USD - Two reasons Sell, GBP / USD - range trading, USD / JPY


Events today:

16:30 MSK. US: The number of initial applications for unemployment benefits.

the euro against the dollar Forex forecast EURUSD today 06/02/2020

Today, the EURUSD pair in forex players are two reasons to sell the euro. First, the positive macroeconomic statistics from the United States on the services sector has caused the growth in yield of US Treasury bonds, helping channel capital into the US dollar. ISM Non-Manufacturing PMI index rose to an eight-month high. Second, investors are actively selling precious metals, primarily gold, since China has reported the development of a vaccine against the coronavirus. Beijing this vaccine could treat more than 500 people over the past two days. Traders are now buying stocks around the world and get rid of gold as a safe asset. This is negative for the euro as the European currency has a strong correlation with gold.

EURUSD recommendation: Sell 1.1010 / 1.1028, and take profit 1.0980






Pound to dollar forex forecast GBPUSD today 02/06/2020

The GBPUSD pair formed a mixed background. On the one hand, it is necessary to wait for reduction of quotations pound as stored friction between the European Union and Great Britain. Brussels wants to revise the directive MIFID-2, in order to limit the financial sector in London. London is at the moment in Europe's financial capital, and the EU wants to deprive the United Kingdom of such privileges. On the other hand, the bullish rally in the oil market has seen profit-taking on short positions, which could have a good support for the currency of Albion, which has historically correlated with oil. Investors in the oil market closing "shorts" because China reports about what could beat coronavirus.

GBPUSD recommendation: flat 1.2950- 1.3025



Dollar against the yen forex forecast pair USDJPY today 06/02/2020

The bidding is still dependent on the dynamics of stock markets, where there is a bullish rally. On Monday and Tuesday, the Central Bank of China has poured into the financial system 1.7 trillion yuan than investors cheered the opening of the "Long" in the stock markets. On Wednesday podostpeli news from the Chinese Ministry of Health, which reported that the developed vaccine against the coronavirus has been successfully applied in practice. stock markets cheered even more, because the risks of epidemics are gone aside liquidity from the Central Bank is still in the system and nobody picks up. The ideal scenario, and did not come up.


USDJPY recommendation: Buy 109.80 / 109.65 and take profit 110.22



Forex forecast and analysis FreshForex



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