Burning forecast 5/17/2018
EURUSD: The market turns to growth.
The main theme remains the growth of yields on US government bonds. Ten-year US government securities reached a profitability of 3.1% — the yield of 30-year securities is also growing. This, on the one hand, attracts investors — amidst a clear stagnation in the US stock market — on the other hand, it pushes the Fed to take on new rate hikes.
However, the growth of the dollar meets strong resistance: On Wednesday, the euro rate broke down a significant level of 1.1820 — and declined to 1.1760 — but could not continue its decline — and holds above 1.1800.
The market is considering the possibility of euro growth.
Buy the euro with a breakout of 1.2000 up, stop at 1.1955, profit at 1.2100.