FX.co ★ Burning forecast 07/02/2019

The EURUSD is under pressure for five trading sessions. However, there is no signal for a trend downwards.

A possible reason for the pressure on the euro and the pound in recent days is the expectation of a new budget crisis (shutdown) in the US after February 15. Nevertheless, the euro is still in the range.

The signal for the beginning of a large movement can only be a breakthrough of the boundaries of the long range, therefore:

We will buy the euro at the breakthrough of 1.1515

or

We will sell the euro at a break 1.1285 downwards