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Good news and bad news | 29 September 2020

29 September 2020, EUR/USD

EURUSD trading plan:

The impact of the coronavirus pandemic is still being felt across the euro area. ECB continues to stand ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry. This is a negative signal for the European currency. The growth rate of the US money supply has been accelerating for the third week in a row. The growth rate has renewed its historical maximum and is 24.7% y/y. The Fed has never printed money at this rate in history. This is a negative signal for the dollar.

Trading recommendation: range 1.1630 -1.1710

David Johnson
Analyst of «FreshForex» company
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