Burning Forecast 03/18/2019

Last week, the EUR/USD pair showed quite clearly that technically the price were capped from moving further downward. The break below 1.1200 turned out to be false. Buyers prevented the price fall and nudged the price under the upper limit of the range.

Investors do not view the Brexit agreement between the UK and the EU as a worrying factor. British Prime Minister May is making efforts to push for another vote. Investors are certain that Brexit will be postponed. Now market participants are speculating whether Brexit will be delayed for three months or much longer.

The main event of the week is a policy meeting of the Federal Reserve scheduled for Wednesday. There is no doubt that the US central bank will confirm its dovish rhetoric.

We are ready to buy the euro from 1.1350.

Alternative: With a complete trend reversal downward, we can sell from 1.1175.


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