FX.co ★ Burning forecast 05/11/2018

Burning forecast 05/11/2018

EURUSD: Trade out of the range.

On Thursday, data on inflation in the US came out: inflation is growing, but very moderately. The euro rose on news, giving a signal to stop the downward trend.

Formed a local range within the boundaries of 1.1820 - 1.1950.

Potential breakthrough of 1.1950 upward with the target of 1.2050.

Buy the euro from 1.1950, stop at 1.1905, profit at 1.2050.

Alternative: Sell from 1.1820, stop at 1.1865, profit at 1.1720.