Burning Forecast 12/12/2017

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Burning Forecast 12/12/2017

EURUSD: buy on the breakthrough of 1.1815.

The situation on the foreign exchange market is uncertain – two important events ahead are the decisions on monetary policy of two major central banks: the decision of the Fed on December 13 and the decision of the ECB on December 14.

The sluggish trade on Monday confirmed the key levels for further movement on the euro: the level of 1.1815 upwards and the level of 1.1728 downwards.

We, in the aggregate of fundamental and technical factors, consider it more likely to move upwards.

Buy at the break of a level of 1.1815 upwards, stop-loss at 1.1770, targets – 1.1940 and further towards 1.2080.

An alternative scenario is possible – a breakthrough downwards at 1.1728 in this case.

Sell for a breakdown of 1.1728, stop-loss at 1.1773, target of 1.1628.

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The material has been provided by InstaForex Company – www.instaforex.com

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