The EURUSD chart has a clear range with a small width of 1.2160 – 1.2325
A breakthrough in the range is expected – up or down – no matter – and a strong move towards breakout.
News background: The main event is the budget crisis in the US, the so-called shutdown – halting the financing of the US government due to the fact that the Democrats and Republicans could not agree in the Senate – the Democrats blocked financing of the government because of disagreement with Trump on expelling illegal migrants from USA.
On this news, the euro’s rate first opened with a noticeable jump (gap) of 40 points upward at the opening on Monday, but then completely closed the gap with a decrease and holds at the day’s low about 1.2217
It is clear that the market has not yet decided on the direction. As for the budget crisis in the US – most likely, parties in Congress will find a compromise and the situation will be resolved.
Next week – Thursday – a major event – the decision of the ECB on rates.
So, buy from 1.2300, stop at 1.2255, the profit is at 1.2400.
Sell from 1.2160, stop at 1.2205, the profit is at 1.2060.
The material has been provided by InstaForex Company – www.instaforex.com
Burning forecast 01/22/2018
EURUSD: We trade for a breakout range.
The EURUSD chart has a clear range with a small width of 1.2160 – 1.2325
A breakthrough in the range is expected – up or down – no matter – and a strong move towards breakout.
News background: The main event is the budget crisis in the US, the so-called shutdown – halting the financing of the US government due to the fact that the Democrats and Republicans could not agree in the Senate – the Democrats blocked financing of the government because of disagreement with Trump on expelling illegal migrants from USA.
On this news, the euro’s rate first opened with a noticeable jump (gap) of 40 points upward at the opening on Monday, but then completely closed the gap with a decrease and holds at the day’s low about 1.2217
It is clear that the market has not yet decided on the direction. As for the budget crisis in the US – most likely, parties in Congress will find a compromise and the situation will be resolved.
Next week – Thursday – a major event – the decision of the ECB on rates.
So, buy from 1.2300, stop at 1.2255, the profit is at 1.2400.
Sell from 1.2160, stop at 1.2205, the profit is at 1.2060.
The material has been provided by InstaForex Company – www.instaforex.com
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