Source: Forex Analysis
Burning forecast 04/17/2018
EURUSD: Attempting to start a trend.
News on the US economy came out strong – retail sales accelerated growth. News on China’s economy is also positive.
Political tension has receded into the background.
The main US index S & P500 after a strong correction came in plus for the opening of the year.
EURUSD: At the time of writing this review, the euro is trying to rise to an important level of the daily target of 1.2400 and gain a foothold higher. If this happens, then go up to the zone of strong levels 1.2470 – 1.2550 – and this is a high of the year.
If this is the right trend, then the target of the trend movement is 1.2900 – the minimum target is 1.2680
Buy from 1.2400, stop at 1.2355.
Alternative: we sell from 1.2213, stop at 1.2258, profit at 1.2200.
The material has been provided by InstaForex Company – www.instaforex.com