The euro dollar forex trading forecast for EURUSD today 11/11/2019

The correction in the stock markets will have a positive impact on the euro today. The single European currency has an inverse correlation with the equity markets, which is caused by zero interest rates the ECB, because it allows investors to use the euro in carry trade operations as the currency of funding. The US stock market last five weeks shows an upward trend, and in such cases is usually observed on Monday rolled back. This factor has a positive impact on the value of gold and the euro, as these assets have an inverse correlation with the equity markets.

EURUSD recommendation: Buy 1.1010 / 1.0990, and take profit 1.1040

Pound Dollar forex GBPUSD outlook today 11/11/2019
 

Open Sell position for two reasons. Firstly, at the end of last week, after the close of markets, Moody's downgraded the UK's rating from stable to negative, confirming himself rating Aa2. Thus, all three ratings agencies in the United Kingdom are now at the same level and all - with a negative outlook. The main reason - BREXIT, which weakens the British economy in general and the financial sector in particular. Secondly, statistics from the UK industrial production for September may disappoint investors weak data on lower PMI reading.

GBPUSD recommendation: Sell 1.2807 / 1.2820, and take profit 1.2775

Dollar yen forex forecast USDJPY today 11/11/2019
 

Today, market participants should not expect a small correction in the stock markets, as the world's leading exchanges last five weeks, there is an upward trend and overdue technical correction. It is moderately negative signal for USDJPY, as the pair has a strong correlation with the index # SP500. It is likely, the correction will be small and the trend will continue tomorrow as investors buy stocks on expectations of signing a trade agreement the United States and China. Donald Trump on Friday confirmed his intention to sign a preliminary agreement with Beijing in the next few weeks. Summit of leaders of the two countries will be held in the United States, not Europe, as the journalists wrote earlier.

USDJPY recommendation: flat 108.70 -109.30

Analyst FreshForex