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Forex forecast and recommendations today 21.10.2019: EUR / USD - positive on the debt market, GBP / USD - Political instability, USD / JPY


The euro exchange rate against the dollar forex forecast for EURUSD pair today 10/21/2019

The euro traded near a two-month highs and seemingly overdue technical correction, but the positive dynamics of the debt market indicates a continuation of the uptrend. The yield spread on 10-year German government bonds / US shows growth that traditionally supports this currency pair. The futures market in Chicago is still indicating a 90% chance that the Fed will lower interest rates at the meeting on 30 October. These expectations cause investors to sell the dollar. During the three weeks of October USDX Dollar Index has lost 2% - last time this rate the dollar's decline was observed in January this year, when the United States and China announced a trade truce. Now on the agenda, "the Fed's printing press", which began working on October 15 - since the EURUSD rose to 170 n.

EURUSD recommendation: Buy 1.1145 / 1.1130, and take profit 1.1180




Pound dollar forex forecast pair GBPUSD today 10/21/2019

Political instability in the UK will force investors to sell British currency. Once all the happy pre-Johnson and the European Union agreed, as the British parliament at the weekend blocked the Prime Minister's initiative, forcing him to write a letter to Brussels. "I am writing to notify the European Council that Britain is requesting further postponement BREXIT. The United Kingdom proposes to extend this period to 23.00 (local time) January 31, 2020. If the parties can ratify the agreement (withdrawal from the EU) before this date, the BREXIT transfer period will end earlier. Yours sincerely, Prime Minister of the United Kingdom of Great Britain and Northern Ireland "- a letter sent on Sunday, Boris Johnson. Today we expect a technical correction in the GBPUSD pair.

GBPUSD recommendation: Sell 1.2940 / 1.2960, and take profit 1.2868



Dollar against the yen forex forecast pair USDJPY today 10/21/2019

Today forex players in the USDJPY pair is waiting for a mixed background. On the one hand, the negative dynamics of the debt market indicates a decrease in quotations, because the yield spread of 10-ldetnih US government bonds / Japan shows decrease. On the other hand, in the US corporate reporting season is in full swing and most of the companies have pleased investors with positive financial results. This factor can enhance the upward trend in the stock market and have a positive impact on this currency pair, which is strongly correlated with the index # SP500.

USDJPY recommendation: flat 108.00 -108.80



Analyst and forex forecast FreshForex



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