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Main » 2020 » March » 12 » Forex forecast and recommendations today 12.03.2020 EURUSD, GBPUSD, USDJPY
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Forex forecast and recommendations today 12.03.2020 EURUSD, GBPUSD, USDJPY

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Events today:

15:30 MSK. Eurozone: The publication of the ECB's decision on the basic interest rate.


The forecast of the euro to the dollar in the EURUSD today 03/12/2020
 

The ECB announced on the eve of the start of the two-day meeting on monetary policy, the results of which will be announced today at 15.30 MSK. Investors are waiting for the regulator reduce deposit rates at 0.1% and the increase in redemption of bonds from 20 to 30 billion euros per month. For more investors do not count, since the beginning of the year, the new head of the ECB C. Lagarde said that monetary measures are virtually exhausted and the political leaders of the euro area should use fiscal measures to maintain stable economic growth. The head of the European Central Bank has reported that the coronavirus can cause a serious blow to the European economy. "If we do not act decisively now, will increase the risk of a crisis in certain segments of your economies," - said Lagarde European leaders. In my opinion, Lagarde, by hook or by crook trying to force Germany and France to reduce taxes. Merkel and Macron did not want it before and do not want to right now, but Lagarde still frighten their big problems. Who will win in this battle? It is difficult to say. As new monetary measures will affect the value of the euro? Probably Forex traders should wait for a slight decline of European currencies and the minimum testing 1.1250 March 11, followed by an upward trend in the euro may continue, as in a few days their bets the Federal Reserve will reduce, and as soon as 0.5%, than reduce the investment attractiveness of the dollar. Who will win in this battle? It is difficult to say. As new monetary measures will affect the value of the euro? Probably Forex traders should wait for a slight decline of European currencies and the minimum testing 1.1250 March 11, followed by an upward trend in the euro may continue, as in a few days their bets the Federal Reserve will reduce, and as soon as 0.5%, than reduce the investment attractiveness of the dollar. Who will win in this battle? It is difficult to say. As new monetary measures will affect the value of the euro? Probably Forex traders should wait for a slight decline of European currencies and the minimum testing 1.1250 March 11, followed by an upward trend in the euro may continue, as in a few days their bets the Federal Reserve will reduce, and as soon as 0.5%, than reduce the investment attractiveness of the dollar.


EURUSD recommendation: Sell 1.1300 / 1.1330, and take profit 1.1250

 

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Forex GBPUSD forecast for today 03/12/2020
 

The Bank of England on Wednesday held an unscheduled meeting and cut the discount rate by 50 basis points, to a level of 0.25%. Unexpected event, since in the event calendar of the Central Bank meeting was scheduled for March 26, and the market is expected to decline by only 25 basis points. But the British regulator has decided to be proactive and to announce stimulus measures prematurely. Blame not so much a coronavirus as BREXIT, since industrial production in Britain has been steadily declining since June 2019, long before the coronavirus. As Boris Johnson could not agree with the EU on customs issues after BREXIT, the downside risks to GDP increased, and the Bank of England had no choice but to go on the reduction of interest rates. At the same time on Wednesday the United States have reported an increase in the core inflation index,


GBPUSD recommendation: Sell 1.2840 / 1.2860, and take profit 1.2800.

 

 

 

Dollar against the yen USDJPY forecast for today 12/03/2020
 

Course of trade is still heavily dependent on the sentiment in the equity markets. At first glance it may seem that investors are scared and disappointed outlook for global GDP growth and actively get rid of the shares. But if you look at the situation more deeply, there is nothing wrong with it is impossible, even on the contrary, there is a "drivers" for growth. On the eve of the Bank of England and the Treasury announced a joint UK stimulus measures. Let me remind you that the UK economy is 5 world, and its capital, London is a financial center in the world №2. The Bank of England cut its interest rate by 0.5% and promised loans to troubled banks in the amount of 100 billion pounds. Britain's Ministry of Finance said on public expenditure in the amount of 30 billion pounds. If coronavirus was not, it would be necessary should come up, otherwise no one would increase spending and lower interest rates. Now, investors are waiting for a similar action by US financial authorities. Against this backdrop, equity markets will show good growth in quotations, because such a policy by the Central Bank and Ministry of Finance always like stock markets.


USDJPY recommendation: Buy 103.90 / 103.60 and take profit 104.45

 

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