FX.co ★ Burning forecast 04/20/2018

Burning forecast 04/20/2018

EURUSD: Trade at the breakout of the range.

The overall picture of the market confused the pound. The euro seemed to be ready to finally come out of the range. And at this point the head of the Bank of England Mark Carney states that the interest rate will probably not be increased. The reason is that inflation data came out below forecasts.

The pound declined sharply within three days. Together with the pound, the Australian dollar fell. And they were able to stop the growth of the euro.

Nevertheless, the euro range has not yet been broken. In the moment, a breakthrough downward looks more likely now.

Sell for the breakthrough of 1.2295, stop at 1.2340, profit at 1.2000.

Alternative: buy for the breakthrough of 1.2415, stop at 1.2370, profit at 1.2680.