Burning Forecast 13/12/2017

EURUSD: Play to break the boundaries of the range.

Today at 18.00 London time, an important decision by the US Federal Reserve will be announced: they will raise the rate on the dollar +0.25% to 1.375% - and, more importantly, will report on plans for further rate hikes.

In addition, the Fed will present a new adjusted forecast for the economy for three years (GDP growth, employment, interest rates) - this forecast is updated every six months. Afterwards, at 18.30 London time, Fed Chairman Yellen will deliver a speech.

The head of the Federal Reserve will be replaced in February 2018 - the new head of the Fed will likely pursue a more aggressive monetary policy.

In general, the situation is in favor of the US dollar.

We have a narrow range for the EURUSD within the limits of 1.1712 - 1.1815.

Buy for the breakthrough of 1.1815 upwards, stop-loss at 1.1770, with a target of 1.1940.

Or:

Sell for the breakthrough of 1.1712 downwards, stop-loss at 1.1757, with a target of 1.1612.