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Forex forecast and recommendations today 25.10.2019: EUR / USD - long positions, GBP / USD - range trading, USD / JPY - Yen currency funding


Events today:

11:00 MSK. Germany: The indicator of business environment from IFO.

The euro dollar forex trading forecast for EURUSD today 10/25/2019

The course of trading will be affected by several factors. First, macroeconomic statistics from the German index IFO, which may disappoint investors weak data as the eve of the release of negative Markit agency on business activity in industry and services was published. For the euro is negative news. Secondly, the dynamics of the credit market, where the yield on 10-year government bonds in Germany is growing in relation to their counterparts in the US and UK. This is a positive signal for the euro. Third, the upward trend in the oil market will support the single European currency, since there is a correlation between the euro and oil. In general, positive background is formed today.

EURUSD recommendation: Buy 1.1090 / 1.1070, and take profit 1.1137





Pound dollar forex forecast GBPUSD today 25/10/2019

Political battles in the UK forcing traders to sell the pound on the growth of quotations to the psychological level of 1.3000. British Prime Minister Boris Johnson wants quick BREXIT, the Parliament of the United Kingdom agree to BREXIT, but not as fast as it wants the prime minister. In general, Parliament offers a special situation does not change, but now investors are in no hurry to open long positions on the pound. Probably be glad to US Federal Reserve meeting, which is scheduled for 30 October. The market expects the Fed lowering interest rates, and this event can cause a continuation of the upward trend in the currency pair.

GBPUSD recommendation: flat 1.2825 -1.2900



Dollar yen forex forecast USDJPY today 10/25/2019

The US stock market closed trading on Thursday at a maximum in the last five weeks. This speaker says that we can expect a continuation of the upward trend, and the S & P500 reached historical highs in the near future. The index of "fear" the VIX falls, confirming investors' optimism about the stock market. Since the Japanese Yen is №1 funding currency in carry trade operations, the USDJPY pair has a strong correlation with the US stock market, which in terms of volume confidently holds the leading position in the world. Against this background, I expect growth of quotations and fixing the level of 109.00.

USDJPY recommendation: Buy 108.55 / 108.39 and take profit 109.15



FreshForex analyst



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