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Forex forecast and recommendations today 21.08.2019: EUR / USD - three reasons to buy the euro, GBP / USD - The good and bad news, USD / JPY


Events today:

17:00 MSK. USA: Sales of housing in the secondary market in July.

17:30 MSK. US data on stocks of crude oil from the Ministry of Energy in August.

21.00 MSK. USA: Publication of minutes of the Fed.


The euro dollar forex trading forecast for EURUSD today 08/21/2019

Today the foreign exchange market traders are three reasons to open long positions in EURUSD

First, on the debt market is growing yield spread of 10-year bonds in Germany / US, which has traditionally supported the euro.

Second, the market for raw materials, investors are actively buying crude oil and precious metals, which also have a positive impact on the value of the euro, which correlates with the data products.

The third evening Minutes of the last meeting of the US Federal Reserve will be published, which will be observed decline in inflation expectations, uncertainty about the risks of trading Won US-China and therefore the need to reduce interest rates.

EURUSD recommendation: Buy 1.1075 / 1.1055, and take profit 1.1115.





Pound Dollar GBPUSD forex forecast for today 21/08/2019

The British pound has updated a maximum of seven days, and today we can expect the sideways trend. Optimism in the bond market has exhausted itself - the yield spread of British and American securities virtually unchanged. Of the important statistics two statements can be identified today. First in the US real estate market in July, where we can expect growth in home sales index amid falling mortgage rates, which will have a short-term support for the dollar. The second report - a report of the last meeting of the FOMC. In my opinion, here we see hints of the need to further reduce the FED interest rates, which in turn will cause a short-term sales dollars.

GBPUSD recommendation: flat 1.2120 -1.2210.




Dollar yen forex forecast USDJPY today 21/08/2019

The bidding is still determined by the dynamics of stock markets. Donald Trump is betting on economic growth during his 2020 election campaign. At the White House discussing the possibility of a temporary reduction of the payroll tax to stimulate the growth of GDP. China's central bank lowered its base lending rates in an effort to reduce the cost of borrowing for businesses under the very slow pace of economic growth over the past decade. The index of "fear" the VIX falls, which is positive for the stock markets.

USDJPY recommendation: Buy 106.34 / 106.15 and take profit 106.89



FreshForex analyst




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