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Forex forecast and recommendations today 15.10.2019: EUR / USD - Euro correlation and gold, GBP / USD - a vicious circle, USD / JPY


Events today:

11:30 MSK. United Kingdom: Changes in average hourly wages for September.

The euro exchange rate against the dollar forex forecast for EURUSD today 15/10/2019

For EURUSD today a mixed background. On the one hand, we can expect growth of the euro as the US Federal Reserve today begins to buy T-bills, which will lead to a reduction in yields in the US bond market and thereby causes investors to sell dollars. On the other hand, the Fed's actions could trigger a strong sell-off in gold, which, in turn, is negative for the euro as the single currency is strongly correlated with the precious metal. What to do in this case? On euro while observing and to refrain from active trading, and gold can be sold and the minimum wait for the update last week, which is located at the level of 1474.01.

EURUSD recommendation: flat 1.0980 -1.1050





Pound dollar forex forecast GBPUSD today 15/10/2019

GBPUSD traders with long positions Buy, based on the continuation of the bullish rally in the pound. The British currency returned to the levels of the beginning of the year, as political risks are relatively "hard BREXIT" offset, and the Federal Reserve starts today QE. The Fed will now be a monthly print 60 billion. USD., Which will buy US government bonds with maturities up to 12 months. In the past, QE from the Fed has always contributed to the upward trend in the currency pair. Who should not expect a repetition of history.

GBPUSD recommendation: Buy 1.2610 / 1.2579, and take profit 1.2666



Dollar yen forex forecast USDJPY today 10/15/2019

US negotiating team and China will continue this and next week by phone work through completion of the first stage of a trade transaction - Minister of Finance of the United States S. Mnuchin said. The signing of this agreement is expected on November 16-17, where the APEC summit will be held in Chile. Thus, before November 16, you can expect a bullish rally in the US stock market, then investors will take profit on the fact of signing the agreement. As they say investors: buy on rumor - sell the fact! For the currency pair is a positive signal because USDJPY has a strong correlation with the US stock index # SP500.

USDJPY recommendation: Buy 108.15 / 107.95 and take profit 108.65



FreshForex analyst


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