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The negative signal for the U.S. currency

The negative signal for the U.S. currency | 30 April 2020

30 April 2020, EUR/USD

The negative signal for the U.S. currency

EURUSD trading plan:

We are expecting an uptrend to develop. Federal Reserve will continue to purchase Treasury securities and agency residential and commercial mortgage-backed securities in the amounts needed to support smooth market functioning, thereby fostering effective transmission of monetary policy to broader financial conditions. Federal Reserve Bank of New York will continue to offer large-scale overnight and term repurchase agreement operations. The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on required and excess reserve balances at 0.10 percent. This is a negative signal for the U.S. currency.

Trading recommendation: Buy 1.0860 and take profit 1.0920.

David Johnson
Analyst of «FreshForex» company
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