EURUSD: Trade for the breakthrough of the range boundaries.
Last week, a lot of important news came out:
U.S. President Donald Trump has put forward tough new requirements for China on new duties on Chinese goods. Meanwhile, China said it will fight for an equal US response “to the end and at any price.” Yet both Trump and China declare that they “do not want a trade war.” US officials again said that there will be high-level talks, and in any case, the talks will be held before the entry of new duties into force, to which (before the entry) 60 days of discussion.
The US employment report is much weaker than the forecast of +103 K new jobs – but salaries are rising, which promises an increase in inflation.
Fed Chairman Jerome Powell promised a slow but steady increase in rates – focusing on the level of inflation in PCE at 2% per annum.
And all this together did not allow us to determine the direction of the EURUSD movement.
There were attempts within two days to go below 1.2238, but failed.
So, we continue to play for a breakthrough:
Buy from 1.2350, stop at 1.2305, profit is 1.2680.
More aggressively: buy at 1.2315, stop 1.2270, profit 1.2415.
Alternative: sell 1.221.3 stop at 1.2258, the profit is 1.2000.
The material has been provided by InstaForex Company – www.instaforex.com
Breaking forecast 04/09/2018
EURUSD: Trade for the breakthrough of the range boundaries.
Last week, a lot of important news came out:
U.S. President Donald Trump has put forward tough new requirements for China on new duties on Chinese goods. Meanwhile, China said it will fight for an equal US response “to the end and at any price.” Yet both Trump and China declare that they “do not want a trade war.” US officials again said that there will be high-level talks, and in any case, the talks will be held before the entry of new duties into force, to which (before the entry) 60 days of discussion.
The US employment report is much weaker than the forecast of +103 K new jobs – but salaries are rising, which promises an increase in inflation.
Fed Chairman Jerome Powell promised a slow but steady increase in rates – focusing on the level of inflation in PCE at 2% per annum.
And all this together did not allow us to determine the direction of the EURUSD movement.
There were attempts within two days to go below 1.2238, but failed.
So, we continue to play for a breakthrough:
Buy from 1.2350, stop at 1.2305, profit is 1.2680.
More aggressively: buy at 1.2315, stop 1.2270, profit 1.2415.
Alternative: sell 1.221.3 stop at 1.2258, the profit is 1.2000.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: