The reduction of interest rates by the Federal Reserve | 28 اكتوبر 2019
28 اكتوبر 2019, EUR/USD
EURUSD trading plan:
We are expecting a bullish rally today. The Federal Reserve cut the refinancing rate by 0.25% at its monetary policy meeting in Washington on October 30. This is a negative signal for the U.S.us currency! The FED's interest rate cut will force traders to sell the U.S. dollar. Additional support for the Euro will be provided by the dynamics of the oil market. Positive changes in Chinese-American trade will force traders to buy oil. China’s Office of the U.S. Trade Representative said that Beijing and Washington are close to signing a partial trade deal.
Trading recommendation: Buy 1.1070 and take profit 1.1120.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
