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Main » 2020 » February » 10 » Forex forecast and recommendations today 10.02.2020: EUR / USD - the flat, GBP / USD - Debt market indicates a reversal of the trend,
Forex forecast and recommendations today 10.02.2020: EUR / USD - the flat, GBP / USD - Debt market indicates a reversal of the trend,


The euro dollar forex trading forecast for EURUSD today 10/02/2020

At present, the EURUSD pair can highlight both good and bad factors for the euro. Positive dynamics of the gold may support the euro, as both asset historically correlated with each other. On the other hand, after Friday's statistics from the United States on the labor market in January the US debt market there was a reduction of the spread of yield of two-year and ten-year Treasury bonds. At such times, investors often sell the euro and the dollar increases the purchasing. Employment in the non-agricultural sector at the end of January increased by 225 thousand people - a figure that was higher than the average for last year, which indicates a strong labor market.

EURUSD recommendation: flat 1.0925 -1.0985






Pound Dollar forex GBPUSD outlook today 10/02/2020

Debt market indicates a trend reversal in the GBPUSD. Traders actively selling the pound in recent days, with the yield spread on 10-year UK / US government bonds last two days shows stable growth. This discrepancy between the forex market and debt market happens periodically and always ends with the fact that the currency starts to repeat the dynamics of the bond market. Since today is not expected important macroeconomic statistics, it is a positive trend in the government bond market will contribute to the growth of the British currency quotations in the GBPUSD pair.


GBPUSD recommendation: Buy 1.2883 / 1.2865, and take profit 1.2930



Dollar yen forex forecast for USDJPY today 10/02/2020

The course of trading in the USDJPY pair will continue to be determined by the dynamics of the US stock market. The S & P500 last week renewed its historical maximum, and ended the day near this extreme. In the new five-day period, I expect the continuation of the upward trend, as the Vice Governor of the People's Bank of China announced the readiness of the Central Bank to reduce medium-term lending rates (MLF) and the rate on loans to prime borrowers (LPR) at a meeting on February 20. Positive news for the stock markets.

USDJPY recommendation: Buy 109.54 / 109.40 and take profit 110.00



Analytics FreshForex



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