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Forex forecast and recommendations today 20.01.2020: EUR / USD - The output in the US, GBP / USD - Hard times for the pound, USD / JPY


EURUSD forecast for today 01/20/2020

Today in the EURUSD forex players should not expect a quiet trading during the day, as in the United States, banks do not work, and European market participants will not rush to open positions. The main event of the week will be the ECB meeting, which will take place on Thursday 23 November. Since core inflation at the end of 2019 steadily entrenched at the level of 1.35, the monetary authorities of the euro area there is no need to cut interest rates. For the euro, though it is moderate, but all the same positive. The American stock market earlier this week may demonstrate the correction, which has a positive impact on the value of gold and the euro as the European currency is correlated with the precious metal. In general, today formed a moderately positive for the euro, but we do not see strong price growth, as US investors are resting.

EURUSD recommendation: flat 1.1070 -1.1120






GBPUSD outlook today 01/20/2020

For the pound gets tough. Next week, the Bank of England will hold a regular meeting on monetary policy, which may reduce interest rates by 0.25%. It was on such an outcome oriented investors today. Lower interest rates is a necessary measure to stimulate consumer demand, which shows a decline on a background of uncertainty about the exit of Britain from the European Union structure. Published on Friday, retail sales data for December demonstrated a negative trend - December is traditionally seen sales increase as people buy Christmas gifts, but this year sales declined by 0.6% in relation to November. Population to save more than it spends, but it's always a negative impact on the economy.

GBPUSD recommendation: Sell 1.3010 / 1.3025, and take profit 1.2984



USDJPY outlook today 20/01/2020

The course of trading on the strong influence still has a dynamics of the US stock market, which last week re-established a new historical maximum. Today in the United States off and on this background, we can expect the sideways trend in the currency pair. In general, the US stock market will continue to grow in the coming days, as the corporate reporting season is in full swing. Many corporations are encouraging investors to positive financial results, which creates a strong demand for the shares. In my opinion, any correction in the US stock market should be used for building Buy positions. Thus, we can expect growth of quotations of the currency pair this week.

USDJPY recommendation: flat 110.00 -110.30



Forex forecast FreshForex 



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