Burning Forecast 12/11/2017
EURUSD: Good buying opportunities.
The euro exchange rate experienced a significant decline last week – but the key support at 1.1712 is not broken. It is very likely that the previous decline is just a correction to growth, and that growth will continue.
On the new week, there are two major events – the decisions of the Fed and the ECB on December 13 and 14.
It is not guaranteed that the Fed will accelerate the rate hike, but the ECB can bring surprises: The ECB still has a negative deposit rate for banks, despite a significant improvement in the economy of the EU. You can expect the ECB to strengthen monetary policy – and the sharp increase in the euro.
Buy the EURUSD pair for a breakdown of 1.1815 to the top, stop-loss at 1.1770, target of 1.1940 and further towards 1.2080.
Reserve option – sell for a breakthrough downwards of 1.1728.
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