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Good news for the European currency

Good news for the European currency | 11 March 2020

11 March 2020, EUR/USD

Good news for the European currency

EURUSD trading plan:

Good news for the European currency. Gold prices rose after a steep fall in the previous session, as doubts about a stimulus package proposed by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic weighed on risk sentiment. The White House and Congress negotiated measures to bolster the U.S. economy and Americans' paychecks against the epidemic's impact, although there was no immediate sign of a deal. Benchmark U.S. 10-year Treasury yields drifted lower, resuming their march towards an all-time low touched earlier in the week. This is a positive factor for the Euro.

Trading recommendation: Buy 1.1350 and take profit 1.1380.

David Johnson
Analyst of «FreshForex» company
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