FX.co ★ Breaking forecast 02/26/2018

Breaking forecast 02/26/2018

EURUSD: Buy for a breakthrough.

So, a long consolidation in the foreign exchange market is coming to an end. The new week is rich in strong news in the US: strong movements are very likely.

On Tuesday and Thursday, the new head of the Fed Jerome Powell will issue a testimony before a testimony the US Congress - markets are waiting for the signal: Will the policy tightening of interest rates be announced?

Our view: No, Powell's speech will not please the bulls for the dollar - the dollar will go down.

For EURUSD there is a narrow local range, we try to play a way out of it:

Buy for the breakthrough 1.2360, stop at 1.2315, profit at 1.2560.

Sell for the breakthrough of 1.2255, stop at 1.2300, profit at 1.2100.