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The negative signal for the dollar

The negative signal for the dollar | 30 July 2020

30 July 2020, EUR/USD

EURUSD trading plan:

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. Federal Reserve will increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities at least at the current pace to sustain smooth market functioning, thereby fostering effective transmission of monetary policy to broader financial conditions. In addition, the Open Market Desk will continue to offer large-scale overnight and term repurchase agreement operations. This is a negative signal for the dollar!

Trading recommendation: Buy 1.1750 and take profit 1.1794.

David Johnson
Analyst of «FreshForex» company
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