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Main » 2019 » December » 24 » Forex forecast and recommendations today 24.12.2019: EURUSD - Carry trade affects Article oimost Euro, GBPUSD - mixed background, USD
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Forex forecast and recommendations today 24.12.2019: EURUSD - Carry trade affects Article oimost Euro, GBPUSD - mixed background, USD

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EURUSD forecast for today 12/24/2019
 

Today is the last trading day before Christmas, however, the stock market continues to rally. Investors do not want to close positions and go into the cache. Many traders expect the correction before Christmas, but in fact there is a continuation of the trend. This is an important signal for the euro. Why? The thing is the low interest rates in the euro area - zero rates allow investment funds to attract loans in the single European currency and to direct this capital on the stock markets. The trader environment, this approach is called the carry trade. Against this background, the growth of stock markets will have a negative impact on the value of the euro. Additional pressure on the euro exchange rate will have a negative dynamics of the debt market, where there is a drop in the yield spreads of Germany / US government bonds.


EURUSD recommendation: Sell 1.1090 / 1.1105 and pro take of fit 1.1069

 

 

 

 

 

GBPUSD outlook today 24/12/2019
 

Today, players pair GBPUSD waits mixed background. On the one hand, it is possible devaluation of the British against the backdrop of negative credit market, where there is a decrease in the yield of the English papers to the US and German bonds. On the other hand, the continuation of the upward trend in the oil market can reassure investors to open long positions, as the pound is correlated with the black gold. Oil #BRENT worth waiting for reducing the growth of quotations to the resistance level 66.54.


GBPUSD recommendation: flat -1 1.2915 .2975

 

 

USDJPY outlook today 12/24/2019
 

The course of trading, as before, will depend heavily on the dynamics of the US stock market, which is not going to go away for Christmas. This year has seen the most famous Christmas rally, when the stock market is showing a steady growth every day and many traders are free to trade with the trend. To what level can grow the US stock market? There is a chance the growth will occur before the signing of the first part of US trade agreements and China, which is scheduled for early January. The uptrend in the stock market is positive for the USDJPY, because for many years there has been a strong correlation between USDJPY and # SP500.


USDJPY recommendation: Buy 109.35 / 109.22 and take profit 109.70

 

 

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