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16.10.201709:33 Forex Analysis & Reviews: Breaking forecast 10/16/2017

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Breaking forecast 10/16/2017

EURUSD: Prepare to break the boundaries of the range.

The situation on EURUSD is uncertain. Last week, its rise stopped - buyers faced strong resistance from sellers in the zone of 1.1870-1.1880.

At the same time, it's too early to talk about a full reversal.

Formed a range within the boundaries of 1.1668 - 1.1880.

It is recommended to wait for an exit from the range and take positions in the direction of exit: buy at breakthrough of 1.1880 upward - or sell at breakthrough of 1.1668 down.

In a more aggressive move, you can sell from 1.1820.

The main news event of the week is the Fed's report on the economy "Beige Book" on Wednesday at 6:00 pm London Time.

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