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Forex forecast and recommendations today 10.09.2019: EUR / USD - the reasons to sell the euro, GBP / USD


Events today:

11:30 MSK. United Kingdom: Unemployment rate for July.

11:30 MSK. United Kingdom: Changes in the level of average earnings for July.

The euro exchange rate against the dollar forex forecast for EURUSD today 09/10/2019

The euro is now interesting for sales for two reasons. Firstly, in the debt market, a decrease in yield spreads of government bonds of Germany / USA and Germany / UK. This factor has traditionally indicates a decrease in quotations of the single European currency. The ECB Thursday will hold a regular meeting on monetary policy, which may announce the reduction of deposit rates and the launch of QE program by 30 billion euros - that such a scenario is expected to investment banks. Secondly, it has a strong correlation with gold, which shows a downward trend against the background of capital inflows in the stock markets.

EURUSD recommendation: Sell 1.1058 / 1.1075, and take profit 1.1000



Pound to dollar forex forecast GBPUSD today 09/10/2019

At present, formed a mixed background. On the one hand, it can be expected to reduce the British currency quotations on the background of the negative dynamics of the credit markets, where the yield spread of Great Britain and the United States government bonds demonstrates decline. On the other hand, the continuation of the bullish rally in the oil market have a positive impact on the value of the pound, because of the strong correlation GBPUSD and #BRENT. Saudi Arabia has made changes in the Ministry of Energy to develop a new program aimed at the growth of oil prices. Saudis this year have been budgeted for the average price of oil at $ 80 / barrel, while a level we've never seen before.

GBPUSD recommendation: flat 1.2300 -1.2390


Dollar against the yen forex forecast pair USDJPY today 10/09/2019

Investors are actively buying "risk assets" and sell "safe assets". Since the Japanese yen is a safe asset, we can expect a continuation of the bullish trend in the currency pair. Representatives of the US Ministry of Finance and China declare their readiness to conclude a bargain. J. Trump over the weekend acknowledged that a trade war hinders economic growth in the United States. The news background is now clearly on the side of the bulls, who buy shares in the world's largest stock exchanges. The central banks of the US, Eurozone and China soften monetary policy, which also adds optimism to investors. In my opinion, the stock market will grow at least until 18 September, when the Fed will hold its regular meeting.

USDJPY recommendation: Buy 107.15 / 106.99 and take profit 107.52


FreshForex analyst and forex forecast



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