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Forex forecast and recommendations today 16.10.2019: EUR / USD - a vicious circle, GBP / USD - reason to buy the pound, USD / JPY


Events today:

11:30 MSK. UK: Consumer price index for September.

15:30 MSK. US: Retail Sales for September.

The euro exchange rate against the dollar forex forecast for EURUSD 16.10.2019

Euro is consolidating in the 1.1000 psychological level and now can see no reason to change the trend. The course of trading is influenced by two factors. First, the stimulus measures from the Federal Reserve. FED started buying assets and it is negative for the dollar. Secondly, the bullish rally in global stock markets is negative for the euro as the single European currency is a funding currency in carry trade transactions, as long the ECB to keep interest rates at zero. The result is a vicious circle and can not up and down do not want.

EURUSD recommendation: flat 1.0990 -1.1060





Pound Dollar forex prognozm GBPUSD today 10/16/2019

GBPUSD longs Buy for two reasons. Firstly, the representative of the European Union M. Barnier declared readiness of Brussels to make a deal with London on BREXIT issues this week. Today and tomorrow will hold talks from leading European powers on this issue. Investors are hoping for a positive outcome, as British Prime Minister Boris Johnson has previously stated its readiness to cooperate with Brussels, because it is beneficial to all parties involved. Secondly, it is necessary to wait for a bullish trend on the oil market, which in turn will further support the British currency, since it is correlated with the oil BRENT. US Federal Reserve launched a program of redemption of bonds that have a positive impact on risky assets, which also include the "black gold".

GBPUSD recommendation: Buy 1.2720 / 1.2700, and take profit 1.2770




Dollar yen USDJPY Forex forecast for today 16/10/2019

The course of trading on the strong influence still has a dynamics of the US stock market. On the eve of the United States kicked off the corporate reporting season. Its financial results published financial sector leaders: four of the six reports were better than market expectations, and two worse. Positive dynamics at the level of 66% is a good result, because initially the market was laid on the 33% of good reports. Among investors' pessimism prevailed, but in fact everything was not so bad. US stock market is aimed at testing the psychological level of 3000 points on the index # SP500, which has a positive impact on the value of the currency pair USDJPY, because the instruments are correlated with each other.

USDJPY recommendation: Buy 108.45 / 108.20 and take profit 108.90



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