Burning forecast 04/19/2018
The EURUSD is preparing a breakout range.
The main event of the last day (Wednesday) is the report of the Fed Beige Book. As usual, 14 days before the Fed meeting, a report on the state of the economy is published based on the collection of reports from 13 regional banks of the Federal Reserve System (FRS).
All reports show growth, but moderate. The main thing - most of the regions are concerned about the possible slowdown due to the trade war of Trump-China. Regions of the United States are all concerned about the possible introduction of new duties and problems for business.
This is a good signal - Trump's new plans will meet with harsh criticism in the US itself, not to mention the resistance of China. Consequently, we can consider the risks of the trade war to be decreasing.
Markets are ready to continue growing - and the dollar is likely to fall.
EURUSD:
Buy for the breakthrough 1.2415, stop at 1.2370, profit at 1.2680.
Alternative: Sell from 1.2295, stop at 1.2340, profit at 1.2000
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