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12.02.201910:11 Forex Analysis & Reviews: Burning forecast 12.02.2019

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.

On Monday, the euro broke down an important level of 1.1285 and closed the day below the range limit.

This is an important technical signal at the beginning of a big trend downwards.

However, while such an option is possible: the signal may turn out to be false - the price has passed too short a distance in the direction of a breakthrough - and there is an option of a reversal upwards.

We keep selling from 1.1285 and look forward to a continuation of the downward movement.

In the event of a full reversal, we are ready to buy the euro not closer than 1.1515.

Exchange Rates 12.02.2019 analysis

Dean Leo
Analytical expert of InstaForex
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