Burning forecast 05/08/2018

Burning forecast 05/08/2018

EURUSD: Waiting for the upward movement.

The euro exchange rate reached the highs of the beginning of the year at 1.1915 and updated them by 20 points to 1.1895

At the same time, the downward movement meets ever more stubborn resistance from buyers.

It is logical to see a sharp rebound upward.

In related news, there are no scheduled events with strong impact- only on Thursday, inflation data in the US, but! Today at 6 PM London time Trump will say whether the US will remain in the "nuclear deal" with Iran - or will leave it. This nervous expectation has already caused strong fluctuations in oil prices - and is able to bring traffic to the foreign exchange market.

We expect the euro to rise:

Buy from 1.1980, stop at 1.1935, the profit is at1.2080.

Alternative: Sell from 1.1895, stop at 1.1940, profit 1.1795.

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