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Forex forecast and recommendations today 21.11.2019: EUR / USD - rumors of investment banks, GBP / USD - positive bond market, USD / JPY


Events that should pay attention today:

18:00 MSK. USA: Sales of housing in the secondary market.

The euro to dollar forex trading forecast for EURUSD today 21/11/2019

European investment banks expect another two drops of the ECB deposit rate at the beginning of 2020 - the rumors on this subject in an active subject in the past two days. Is it possible to agree with the direction, which this influence will have on the value of the euro and why rumors started right now? Try to understand these complex issues. Last time the ECB cut its deposit rate at the meeting of September 12th. On that day, the yield of two-year German government bonds, which correlates with the ECB interest rate was -0.8%. Now, this rate stands at -0.65% - two months yields rose and on this background, we should not expect changes in the monetary policy of the ECB. On educated people with high net worth and relationships work the debt market - they take into account all the factors in advance, using the insider information. Why, then, investment banks spread rumors? It is likely to cause a correction in the market and open positions at more attractive levels Buy. Against this background, the EURUSD traders should wait for a possible pullback to 1.1000 psychological level, then you can expect a trend reversal upwards.

EURUSD recommendation: Sell 1.1089 / 1.1105, and take profit 1.1040







Pound dollar forex forecast GBPUSD 21.11.2019

Positive credit market dynamics indicate an upward trend for the British currency - the yield on 10-year-old British securities grows in relation to the US and German bonds. In addition, the British would support oil as between GBPUSD and #BRENT there is a correlation. The oil market on Wednesday rose by 2.5%, offsetting the decrease in quotations, which occurred on Tuesday. Speculators dispersed oil for two days and down and up - any reason for such a dramatic change was not quoted. Today it is possible, the continuation of the upward trend in the oil market, as the US central bank stimulus measures, the eurozone and China will support oil quotations. Money in the world today printed a lot and they have definitely come to the oil market, caused by the strong bullish rally.

GBPUSD recommendation: Buy 1.2918 / 1.2895, and take profit 1.2991



Dollar yen forex forecast USDJPY today 11/21/2019

The bidding is still dependent on investor sentiment in the stock markets. Now in vogue two threads, and both are associated with China. Firstly, trade talks between Washington and Beijing, where Trump says that the Middle Kingdom wants an agreement, but he thinks it is necessary or not. The American president plays on the public and the electorate shows his power and majesty. It can be understood as less than a year left before the next presidential elections, and Trump is necessary to earn "points". Secondly, the situation with the meeting in Hong Kong has reached an impasse. The demonstrators are very active, the US Congress supports their moral, and perhaps even financially, and Beijing, this support is clearly not like. What we have in the dry residue? Beijing and Washington should agree before December 15 because it is an extreme date for the introduction of fees. Will they agree? Likely, because it is beneficial to both countries. Trump's advisers, who spoke in recent days have made it clear to the market that the transaction will be. At the same time with Hong Kong the situation is complicated and it is not clear how all this will have an impact on the markets.

USDJPY recommendation: Buy 108.44 / 108.30 and take profit 108.97



FreshForex analyst



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