Burning forecast 04/02/2019

Brexit is developing in the worst case scenario and continues to put pressure on markets and the European currency.

But it seems the decisive day has come: Theresa May will hold 5 hours of Cabinet meeting on Tuesday — on how to get a long delay (up to a year) so that Parliament can calmly find a solution to the agreement with the EU. In the event of such a delay, the Brexit theme will leave the markets at least for a long time.

The EURUSD rate as well as the pound are under pressure.

The euro is near the lower boundary of the range of 1.1175 - and will probably make an attempt to breakthrough.

It must be kept in mind that a breakthrough may be false.

We are ready to sell the euro from 1.1175 nonetheless.

But in case of a reversal, we are ready to buy the euro from 1.1255


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