Burning forecast 05/18/2018

EURUSD: Trade at breakout of the range.

The euro chart has formed a range within the limits of 1.1760 — 1.2000

There are no strong expected news. China moved to meet Trump on the issue of trade disputes — proposing to reduce the US trade deficit by increasing China’s imports by $ 200 billion a year. This is a significant easing of tension.

In Europe, the potential risk is the new government of Italy — where the euro-skeptics came to power. Yet we must understand that Italy will not be able to cope with its huge national debt in the event of an attempt to withdraw from the EU — the conflict is possible but end in a compromise.

Buy the the euro from 1.2000 stop at 1.1955 profit at 1.2100

Sell euro from 1.1760 stop at 1.1805 profit at1.1660

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