FX.co ★ Burning Forecast 04/12/2017

Burning Forecast 04/12/2017

EURUSD: Buy for the breakthrough of 1.1940

In the morning, the dollar rose against all major currencies. Analysts explained that this was due to the adoption of the US Senate's bill on tax cuts - Trump's first serious case.

However, we believe that a reduction in taxes will lead to a weakening of the US dollar in the medium term.

Buy the euro on the break of the upper border of the daily range at 1.1940.

Stop-loss at 1.1895 - the target is 1.2080.

An alternative is to turn down and sell at the breakthrough of 1.1807 with the target of 1.1610.