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The negative signal for the U.S. currency

The negative signal for the U.S. currency | 19 March 2020

19 March 2020, EUR/USD

The negative signal for the U.S. currency

USDJPY trading plan:

In the United States, the Federal Reserve rolled out its third emergency credit program in two days, aimed at keeping the $3.8 trillion money market mutual fund industry functioning if investors made rapid withdrawals. On Sunday, the Fed slashed interest rates to near zero and pledged hundreds of billions of dollars in asset purchases, while President Donald Trump's administration drew up a $1 trillion stimulus and rescue proposal. This is a negative signal for the U.S. currency.

Trading recommendation: Sell 109.10 and take profit 108.60.

David Johnson
Analyst of «FreshForex» company
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