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Negative signal for the U.S. currency!

Negative signal for the U.S. currency! | 24 March 2020

24 March 2020, GBP/USD

Negative signal for the U.S. currency!

GBPUSD trading plan:

Federal Reserve Bank of New York has updated its plans regarding purchases of Treasury securities and agency MBS during the week of March 23, 2020. Specifically, the Desk plans to conduct operations totaling approximately $75 billion of Treasury securities and approximately $50 billion of agency MBS each business day this week, subject to reasonable prices. The Desk will begin agency CMBS purchases this week. The Federal Reserve is committed to use its full range of tools to support the U.S. economy in this challenging time and thereby promote its maximum employment and price stability goals. This is a negative signal for the U.S. currency!

Trading recommendation: Buy 1.1600 and take profit 1.1710.

David Johnson
Analyst of «FreshForex» company
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