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Good and bad news | 10 December 2019

10 December 2019, EUR/USD

EURUSD trading plan:

Good and bad news for the Euro. The good news is a bullish rally in the oil market, as there is a correlation between black gold and the Euro. 'OPEC+' - the Organization of the Petroleum Exporting Countries and associated producers like Russia - to deepen output cuts from 1.2 million barrels per day (bpd) to 1.7 million bpd would remain a support factor. Investors do not expecting the Federal Reserve to cut interest rates at the December 11 meeting - this is negative news for the Euro. The Federal Reserve has cut interest rates three times this year, which has had a negative impact on the value of the dollar.

Trading recommendation: range 1.1030 -1.1090.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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