Activating OMT

26 March 2020, EUR/USD

Activating OMT

EURUSD trading plan:

We are expecting a bullish rally. European Central Bank is open to activating their most powerful bond-buying tool if needed to help the region’s coronavirus-hit economy. Activating OMT -- which is contingent on countries securing access to Europe’s bailout fund -- would benefit euro-area members whose strained public finances risk limiting their ability to cushion the blow of the coronavirus pandemic. This is a positive signal for the European currency!

Trading recommendation: Buy 1.0885 and take profit 1.0963.

David Johnson
Analyst of «FreshForex» company
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