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Investors are expected FED interest rate cuts

Investors are expected FED interest rate cuts | 04 October 2019

04 October 2019, EUR/USD

Investors are expected FED interest rate cuts

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. The Institute for Supply Management said its index of non-manufacturing activity fell to 52.6 from 56.4 the month before. The reading was below expectations of 55.0 and was the lowest since August 2016. The employment index fell to 50.4 from 53.1 a month earlier, hitting its lowest level since February 2014. New orders dropped to 53.7 from 60.3. The prices paid index rose to 60.0 from 58.2. This factor will force the Federal Reserve to reduce interest rates at the meeting on October 30, which will have a negative impact on the value of the dollar.

Trading recommendation: Buy 1.0960 and take profit 1.1010.

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David Johnson
Analyst of «FreshForex» company
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