Additional program of the ECB | 05 June 2020

05 June 2020, EUR/USD

Additional program of the ECB

EURUSD trading plan:

We are expecting a downtrend to develop. The Governing Council ECB decided to increase the envelope for the pandemic emergency purchase programme by €600 billion to a total of €1,350 billion. In response to the pandemic-related downward revision to inflation over the projection horizon, the PEPP expansion will further ease the general monetary policy stance, supporting funding conditions in the real economy, especially for businesses and households. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. This is a negative signal for the European currency!

Trading recommendation: Sell 1.1390 and take profit 1.1340.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus