On Wednesday, the euro rate broke down the low of the current week at 1.2313 and fell to 1.2245.
There were no important news in favor of strengthening the dollar: It is likely that in the market, there is repositioning of large players after a strong correction in the US market on February 2 and 5-6.
We kept selling from 1.2310, but moved the stop-loss in break even, realizing that the decline so far has a nature of correction and at any time it can be replaced by growth.
The target is at 1.2180.
In the case of a reversal, buy at 1.2410, stop at 1.2365, profit at 1.2640.
The material has been provided by InstaForex Company – www.instaforex.com
Breaking forecast 02/08/2018
EURUSD: Expect the continuation of the decline
On Wednesday, the euro rate broke down the low of the current week at 1.2313 and fell to 1.2245.
There were no important news in favor of strengthening the dollar: It is likely that in the market, there is repositioning of large players after a strong correction in the US market on February 2 and 5-6.
We kept selling from 1.2310, but moved the stop-loss in break even, realizing that the decline so far has a nature of correction and at any time it can be replaced by growth.
The target is at 1.2180.
In the case of a reversal, buy at 1.2410, stop at 1.2365, profit at 1.2640.
The material has been provided by InstaForex Company – www.instaforex.com
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