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Forex forecast and recommendations today 11.10.2019: EUR / USD - The correlation of the euro and gold, GBP / USD - BREXIT, USD / JPY


Events today:

Trade negotiations the US and China.

The euro exchange rate against the dollar EURUSD forecast for today 10/11/2019

The main event of the day will be the announcement of the results of the next round of trade negotiations, the US and China. Tonight is cost meeting the American president J. Trump with Deputy Prime Minister of China Liu He. Earlier, Trump said that to agree to such a meeting only if progress in trade negotiations. Apparently, there is progress. How this event will affect the value of the euro? Most likely, the euro will demonstrate decline today as the single European currency is the low-yielding assets, such as gold and the Japanese yen. Investors today will increase the "Long" for higher-yielding assets (stocks, currencies with higher interest rate securities). Against this background, forex traders should not expect depreciation of the euro to around 1.0975, and gold to the level of 1484.

EURUSD recommendation: Sell 1.1019 / 1.1035, and take profit 1.0980




Pound to dollar GBPUSD forecast for today 10/11/2019

British Prime Minister Boris Johnson has successfully negotiated with his colleague from Ireland Leo Varadkarom. The Irish prime minister has declared its readiness to conclude a deal on BREXIT and urged Brussels to continue negotiations with London. In the Brussels, but do not feel too much optimism on this score. Pound on the eve of the rally demonstrated the powerful, but now it is not necessary to hurry up and draw conclusions about the presence of a strong bullish trend, as everything can change quickly, as we have many times in the past year. It is necessary to wait for information from Brussels that EU leaders are ready to take BREXIT plan B. Johnson. Then you can safely buy the British currency.

GBPUSD recommendation: flat 1.2415 -1.2500



Dollar against the yen USDJPY forecast for today 10/11/2019

Traders in the USDJPY pair are two reasons to buy Buy. The first reason, the growth yield spread on 10-year US / Japan government bonds on the bond market, which has traditionally supported a pair USDJPY. The second reason, investors expect positive outcome of the two-day trade negotiations, the US and China. China is ready to increase the volume of purchases of American agricultural products and ready to moderate strengthening of the yuan, as urged by Washington. China is not ready to give up claims on intellectual property transfer, but the US still can forgive a mistake. Why? In D. Trump next year presidential elections and it must enclose with China though any trade agreement to stimulate growth in the US stock market.

USDJPY recommendation: Buy 107.84 / 107.65 and take profit 108.25



FreshForex analyst



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