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The minutes of the ECB meeting

The minutes of the ECB meeting | 25 May 2020

25 May 2020, EUR/USD

The minutes of the ECB meeting

EURUSD trading plan:

We are expecting a downtrend to develop. The minutes of the ECB meeting in April signaled the central bank stands ready to roll out more stimuli, if needed, at its June meeting. Market-based funding conditions for banks were tightening in unsecured money markets, as could be observed from the increase over the past few weeks in the spread between the three-month EURIBOR and OIS rates, which had recently reached the widest level seen since 2012. The survey data signaled a sharp and deep economic downturn. This is a negative signal for the euro.

Trading recommendation: Sell 1.0890 and take profit 1.0860.

David Johnson
Analyst of «FreshForex» company
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