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Main » 2020 » March » 10 » Forex forecast and recommendations today 10.03.2020 EURUSD, GBPUSD, USDJPY
Forex forecast and recommendations today 10.03.2020 EURUSD, GBPUSD, USDJPY


The forecast of the euro to the dollar in the EURUSD today 03/10/2020

USDX Dollar Index tested the basket at least the last 16 months. Against this background, there is a good rally in the euro. Many traders are now concerned with the question: when will the correction, as the euro has demonstrated rapid growth in the last three weeks? The answer to this question can be answered by considering two important factors. Firstly, it is necessary today to closely monitor the dynamics of the gold, as the European currency is strongly correlated with the yellow metal. Today there is a moderate decrease in the gold rate, which indicates a moderate depreciation of the euro. Secondly, on Thursday held a meeting of the ECB, where the regulator may announce a series of stimulus measures, such as reduction of deposit rates and the increase in the volume of bond purchases. This factor may force investors begin to take profits on the "Long".

EURUSD recommendation: Sell 1.1390 ​​/ 1.1420, and take profit 1.1349






Forex forecast GBPUSD exchange rate for today 03/10/2020

The GBPUSD pair of mixed background generated today. On the one hand, the positive dynamics of the debt market indicates a continuation of the upward trend of sterling. Investors expect the US Federal Reserve lowering interest rates by 50 basis points at a meeting on March 18. Moreover, according to the majority of investment banks from Wall Street in late April, the Federal Reserve could bring rates to 0.25%, and then begin to actively buy bonds to increase the amount of money in the banking system. In this scenario, the dollar will gradually decline against most of its competitors. On the other hand, the British prime minister Boris Johnson said about the serious risks to the economy from the coronavirus. Now the number of cases is just over 300 people, but the British authorities do not exclude the option, at the end of the month the number could exceed one thousand. This factor may cool down those traders who are trying to quickly ramp up the pound.

GBPUSD recommendation: flat 1.3000 -1.3100



The forecast of the dollar against the yen USDJPY pair for today 10/03/2020

Sentiment in the market such that the USDJPY is ready to test the psychological level of 100.00. It is worth noting that Japan unprofitable strengthening of the yen, as recent data for GDP in Q4 indicate that it is in this economy of the G-7, the first recession could occur. Japan is the country of the exporter and it is beneficial to keep the yen low. It is impossible to ignore the actions of the US Federal Reserve today and will provide about $ 150 billion on Thursday as part of short-term financing operations the central bank dollars.. commercial banks. This is quite a substantial amount, which may temporarily cool the ardor of speculators, who carried away USDJPY sales.

USDJPY recommendation: Buy 104.00 / 103.80 and take profit 104.50



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Views: 14 | Added by: mik | Tags: forex exchange rate pound dollar fo, Euro, usdjpy recommendation, Forex dollar yen usdjpy forecast, eurusd forecast, pound dollar, Dollar, Forex, forex forecast for today, euro dollar, forex euro dollar prognozeurusd, Pound, gbpusd recommendation | Rating: 0.0/0
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