FX.co ★ Breaking forecast 03/01/2018

Breaking forecast 03/01/2018

EURUSD: Keep selling.

We continue selling the euro from 1.2255, but the stop is relocated to the breakeven. Target is 1.2100.

There are potential surprises, and a complete reversal may be seen.

In this case:

Buy the the euro from 1.2360, stop at 1.2315, target 1.2560.

Technically: the rate broke through an significant level of 1.2205 down (the level of a week's order) - and gave an indicator for a downward turn. However, while the achievements are very modest - the maximum downward movement to just 1.2183 - everything could be a false breakdown.

On Wednesday, a report on US GDP - the second reading for the 4th quarter - no noticeable changes. There is no new impulse.

Today, March 1, there is a new important event: at 12:30 London time, an PCE inflation report on the US will be published. At 2:00 PM London time the head of the Fed will speak for the second time in the US Congress.