Breaking forecast 04/02/2018

Breaking forecast 04/02/2018

EURUSD: Everything is ready to break the range.

The levels for breakthrough of the long range became even stronger by the beginning of the week. If you look at the daily chart, you can clearly see that the euro exchange rate ranges from 1.2150 to 1.2550 starting from the end of January - that is,for two full months. A breakthrough, as they say, is ripe.

The real range of the daily range is 1.2480 at the top and 1.2238 at the bottom.

Therefore: buy from 1.2480, stop at 1.2435, profit at 1.2680.

Sell at1.2238, stop at 1.2283, the profit is 1.2000.

However, there is also an entrance point down a more aggressive variant, according to an incomplete daily level:

Sell at 1.2280, stop at 1.2325, the profit is 1.2000.

The new week brings a lot of news: The US employment report (non-farm payrolls) on Friday April 6, respectively the preliminary report on employment from ADP on Wednesday 4 April, and the reports on the ISM - the first on Monday.

A breakout of the range this week is very likely.


The material has been provided by InstaForex Company -