Burning forecast 02/28/2019

Positive news came out:

British Prime Minister Theresa May has pledged to the Parliament that she will offer a vote - to postpone the Brexit date - in case she fails to find a compromise and hold the agreement through the Parliament. This means that there will be no "hard Brexit" - that is, without an agreement with the EU. It is assumed that the last vote will be March 12 (the deadline for Britain's withdrawal from the EU is March 29).

The second positive - from the Federal Reserve. Fed Chairman Powell delivered a semi-annual report to Congress and said that the US central bank plans to complete the withdrawal of liquidity from the economy in the coming months. This means that the Fed will stop tightening monetary policy - and quite likely stops hiking rates - of course, if inflation does not begin to rise.

There has been progress in the US-China trade negotiations. At a minimum, Trump postponed the increase in duties against China, previously scheduled for March 1.

EURUSD: There is everything you need for an upward trend. However, while there is no growth, it is quite likely that the trend is hampered by the noticeable differential of rates in favor of the dollar.

The coming days will show whether buyers will be able to develop a trend to the top - or there will be a turn down.

We buy euros from 1.1375.

Alternative: Sell the euro from 1.1315. Target - up to 400-500 points.


The material has been provided by InstaForex Company - www.instaforex.com