Good and bad news for the Euro | 30 اكتوبر 2019

EURUSD trading plan:

Good and bad news for the Euro. The good news is the Federal Reserve's interest rate cut. The U.S. Central Bank will cut interest rates by 0.25%. The probability of such a scenario is 98% according to the CME futures market. Negative macroeconomic statistics force the Federal Reserve to cut interest rates. U.S. consumer confidence unexpectedly fell to a four-month low. A key manufacturing gauge has fallen deeper into contraction and the labor market, while still robust, has shown some cracks recently with slower wage growth and a weaker pace of hiring. The bad news for the Euro is the decline in the value of gold. Investors are increasing short positions on the precious metal.

Trading recommendation: range 1.1050 -1.1140.

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