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15.12.201709:25 Forex Analysis & Reviews: Breaking forecast 12/15/2017

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Breaking forecast 12/15/2017

EURUSD is ready for a strong fall.

On Thursday, the second most important event of the week was held and the last important one this year: the ECB's decision on monetary policy. The ECB disappointed euro buyers. The ECB did not change anything in the policy of the ECB - the volume of liquidity injections into the markets will be halved in January, the rate is unchanged 0%, on deposits at -0.4%.

Immediately after the decision of the ECB, the euro began to fall, accelerating to 1.1770. Growth is disrupted.

On H4 chart and the daily chart is clearly visible figure head and shoulders - a key level of 1.1715 - a break below 1.1700 will lead to a strong decline of the euro up to 1.1500 and 1.1400.

Sell euros for the breakthrough 1.1715 down, stop-loss 1.1760, target 1.1515.

Reserve option: buy for a breakthrough of 1.1865 and up.

Exchange Rates 15.12.2017 analysis

Dean Leo
Analytical expert of InstaForex
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