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Federal Reserve and the dollar

Federal Reserve and the dollar | 01 May 2019

01 May 2019, EUR/USD

Federal Reserve and the dollar

EURUSD trading plan:

The European Union's statistics office, Eurostat, said that according to a preliminary estimate, gross domestic product in the 19 countries sharing the euro rose 0.4 percent quarter-on-quarter in the first three months of 2019, up from 0.2 percent in the fourth quarter of 2018 and 0.1 percent in the third. Year-on-year, euro zone GDP rose 1.2 percent, the same increase as in the last quarter of 2018. This is a positive signal for the Euro. The main event of the day will be the announcement of the results of the meeting of the Federal Reserve. The Committee will leave the interest rate at the current level and will talk about the need to reduce interest rates at the end of the year. This is a negative signal for the U.S. currency.

Trading recommendation: Buy 1.1210 and take profit 1.1300

David Johnson
Analyst of «FreshForex» company
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