10.04.201809:16 Forex Analysis & Reviews: Breaking forecast 04/10/2018

Breaking forecast 04/10/2018

EURUSD: Looking forward to continued growth.

The main event of Tuesday was already held: the president of China, Xi Jinping delivered a keynote address at a large international forum in Boao. All the world's businesses and investors were waiting for a response to U.S. President Donald Trump's latest tough initiatives and statements to China about a sharp increase in duties, called a "trade war".

The leader of China, in opposition to Trump, called for a more open economy of China for the development of world trade. At the same time, Xi promised to increase the openness of the automobile market in China, open up the banking sector, and increase China's imports.

In principle, the statements of the leader of China were very peaceful, as opposed to the attacking style of Trump, and contained steps towards the US - in particular, the promise to improve the situation with the protection of intellectual property.

It is not very clear, however, how to deal with the huge US trade deficit in trade with China at 300-350 billion dollars.

Nevertheless, we consider the event positive for the markets - there is a place for negotiations.

Trump, however, is now heavily engaged in an investigation in his circle on the case of the "Russian intervention" and at the same time, it seems, is preparing a new attack on Syria (by the forces of Assad) after the chemical attack in the suburbs of Damascus.

EURUSD: trading out of range:

Buy for the breakthrough 1.2350, stop at1.2305, profit at 1.2680.

Sell for the breakthrough 1.2215, stop at1.2260, profit 1.2000.