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Forex forecast and recommendations today 22.11.2019: EUR / USD - The correlation of the euro and gold, GBP / USD - oil and pound, USD / JPY


The euro exchange rate against the dollar EURUSD forecast for today 11/22/2019

The negative dynamics of the precious metals market indicates a decrease in value of the euro, as the single European currency is strongly correlated with gold. Why investors are selling "yellow metal"? Currently there are no inflation risks in the countries of the G-20 and the gold is primarily used as a means of protection against inflation. And if there is no inflation, then the value of gold is significantly reduced. But expect some panic sales of the precious metal is not worth it, because central banks in Eastern Europe and some Asian countries are increasing their gold reserves. For example, only the Bank of Russia in October, bought in the market of 9.3 tonnes. Gold. There will probably be a gradual decline XAUUSD quotes first to 1450 and then to 1400. The second level will be reached in mid-December.

EURUSD recommendation: Sell 1.1075 / 1.1099, and take profit 1.1040






Pound to dollar GBPUSD forecast for today 11/22/2019

At present, formed a mixed background. On the one hand, it can be expected to reduce the British currency quotations, as the debt market is observed in the yield spread of 10-year correction of the UK and US government bonds. This indicator showed growth last five days and is now demonstrating corrective decline. On the other hand, the bullish rally in the oil market can support the pound, as the British currency is correlated with oil BRENT. Representatives of OPEC + say that the cartel at its summit on December 6 may extend the agreement to limit oil production to July 1, 2020. IPO oil giant Saudi Aramco forcing Saudi Arabia to restrict oil production in order to obtain higher prices for hydrocarbons. Today, investors should wait for the growth of quotations of oil BRENT to 63.61.

GBPUSD recommendation: flat 1.2879 -1.2960



Dollar against the yen USDJPY Forex forecast for today 11/22/2019

Trade negotiations the United States and China will continue in Beijing - said the high-ranking representatives of the Chinese government. Liu He in the course of a telephone conversation suggested dealer Robert Laythayzeru and Finance Minister Stephen Mnuchinu to hold a meeting in Beijing. US negotiators said that they are ready to meet, but would like to receive from China are clear indications that he is ready to take on the obligations regarding the protection of intellectual property rights, forced technology transfers and purchases of American agricultural products. The exact date of the talks is not known, but the Chinese people want to hold them until Thanksgiving Day, which will be celebrated on Thursday, November 28th. The denouement is approaching, and perhaps as early as next week, the two sides declared their readiness to sign the agreement. This is a positive signal for USDJPY,

USDJPY recommendation: Buy 108.50 / 108.37 and take profit 109.10



FreshForex analyst



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