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The Governing Council’s policy decision ECB

The Governing Council’s policy decision ECB | 23 January 2020

23 January 2020, EUR/USD

The Governing Council’s policy decision ECB

EURUSD trading plan:

We are expecting an uptrend to develop. Investors are waiting for the outcome of the European Central Bank meeting. The euro-area unemployment is holding close to a record low and the services sector grew at the fastest pace in four months in December. Economic confidence improved and inflation accelerated to the fastest pace in six months, albeit mainly because of energy prices. Traders expect the deposit rate to stay at minus 0.5% and quantitative easing to remain at 20 billion euros. This is a positive signal for the Euro.

Trading recommendation: Buy 1.1080 and take profit 1.1120.

David Johnson
Analyst of «FreshForex» company
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