Burning Forecast 30/11/2017
EURUSD: Buy for a breakout range.
On Wednesday, the Fed issued a Beige Book report: The US economy shows signs of slowing. A slowdown in consumer spending, while economic growth is "very moderate." The GDP report was released - GDP growth accelerated to +3.3%, but the inflation index for GDP (deflator) is lower than forecast.
The Fed has no reason to accelerate the rate hikes in the coming months.
Conclusion: The growth of the EURUSD pair is more likely.
Buy the euro for a breakdown from 1.1885. Stop-loss is at 1.1840. The target is 1.2080.
Alternative: sell for a breakthrough of 1.1815 downwards, stop-loss at 1.1860, target at 1.1710.
