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Forex forecast and recommendations today 18.10.2019: EUR / USD - good and bad news, GBP / USD - range trading, USD / JPY - long positions


Forex forecast EURUSD exchange rate for today 18/10/2019

Today, there are both good and bad news for the euro. On the one hand, the European Union agreed with the UK BREXIT, that eliminates the political risks for both the United Kingdom and the euro area. This is positive for the euro. On the other hand, the debt market is experiencing decline in yield on 10-year German government bonds relative to their counterparts in the United States and the United Kingdom. This factor may force investors to take profits on long positions in the euro ahead of the weekend, because this week the European single currency showed a good growth of quotations.

EURUSD recommendation: flat 1.1100 -1.1160






Forex GBPUSD exchange rate forecast for today 10/18/2019

Now whether to buy the British pound? An interesting question, and at the same time difficult. On the one hand, a melodrama titled BREXIT completed and it is a strong positive for the British currency. On the other hand, there is a technical correction, as the pound over the past 6 trading days has appreciated against the dollar by 5.7%, the highest growth in the last three years. The ideal scenario would probably look like this: price decline to 1.2700 today or on Monday, then on Tuesday 22 October, you can re-buy the British pound, based on the continuation of the uptrend.

GBPUSD recommendation: flat 1.2800 -1.2900



Forex rate USDJPY forecast for today 18/10/2019

Bullish rally in the stock markets continues, which is positive for USDJPY, as this currency pair has the strongest correlation with the stock indexes. Trade war US-China "paused", the European Union and Britain agreed on BREXIT, the US Federal Reserve has included a printing press and print hard dollars. What else do you need for happiness investors to the stock market? Perhaps nothing! The index of "fear" the VIX, which serves as a reliable indicator of the risk on the US stock market is now close to a two-month minimuma- it means that investors are optimistic and willing to increase the purchase of corporate bonds.

USDJPY recommendation: Buy 108.50 / 108.30 and take profit 109.10



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