Burning forecast 01/23/2018

Burning forecast 01/23/2018

The euro is waiting for the decision of the ECB.

On Monday, an important event took place: The US Senate approved the financing of the US government on the second attempt, giving it funding until February 8, but this gives time for a compromise on the disputed migration issue between Trump and the Democrats in Congress.

This news is positive for the market - the US market showed a new strong daily growth and new historical highs (by major indices).

However, contrary to the expectations of many experts, the EURUSD exchange rate remained in a narrow range.

From the point of view of the play on the break - it is a good thing: The longer worth the price in the range - the stronger the subsequent movement.

Obviously, the euro is waiting for its own main event: the ECB's decision on monetary policy on Thursday.

Nevertheless, the movement may take place before the news - such cases have happened before.

So, we play out of range:

Buy from 1.2300 stop at 1.2255 profit at 1.2400

Sell from 1.2160, stop at 1.2205, profit at 1.2060

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