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Forex forecast and recommendations today 09.01.2020: EURUSD - short positions, GBPUSD - mixed background, USDJPY


EURUSD forecast for today 09/01/2020

The course of trade is heavily influenced by two factors. Firstly, this is the geopolitical tensions in the Middle East. Iran has promised to avenge the United States for the death of their respected military general K. Soleimani, but so far did not. The new commander of the IRGC Quds Force of Iran, General I. Kahney said a few days ago: "We appeal to all, be patient and you will see the corpses of Americans across the Middle East." The possibilities for this Tehran has, since the Islamic Republic has an extensive network of militant organizations in the Middle East. However, instead of the real action was limited to Tehran launches several missiles at buildings of the US base, where there were neither people nor equipment. Apparently Iran does not want to fight or does not want to fight. For the euro is a negative signal. Secondly, this week published the positive macroeconomic statistics from the United States on business activity in the service sector and employment in the private sector. This is a positive signal for the dollar!

EURUSD recommendation: Sell 1.1120 / 1.1137, and take profit 1.1085






GBPUSD forecast for today 09/01/2020

The GBPUSD pair of mixed background generated today. On the one hand, it is possible devaluation of the British against the background of the negative dynamics of the credit market, where there is a decrease in the spread on government bonds the UK / US, which generally contributes to lower prices in the currency of Britain. On the other hand, a high demand for "risk assets" can reassure the "bulls" for opening long positions. Investors are actively buying up stocks and higher-yielding currencies that traditionally has supported the pound.

GBPUSD recommendation: flat 1.3075 -1.3140



USDJPY Forecast Today 09/01/2020

Donald Trump declined to war with Iran, which caused a strong rally as the stock markets, and in this currency pair, because the tools historically highly correlated with each other. The US president promised new economic sanctions on Iran. Earlier this week, Trump was more strongly and promised to use precision-American weapons against the Islamic Republic. Against this backdrop, investors were scared and left the stock markets, now everything has changed, and traders once again rush to the stock markets and buying up securities at a high speed. The dynamics of the index of "fear" the VIX confirms a positive trend - a figure the day before fell by 4%.

USDJPY recommendation: Buy 109.11 / 108.92 and take profit 109.47



Do not Miss: How to get up to 10% of the profits in the forex market every month


Analytics FreshForex



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