Positive dynamics euro/dollar three-month swaps | 08 أبريل 2020
08 أبريل 2020, EUR/USD
EURUSD trading plan:
Good news for the European currency. The euro/dollar three-month swaps widened considerably in favor of the euro to nearly 63 basis points, the highest spread since for the last 15 years. FED has taken the creation of a standing repo facility for foreign central banks, all this unprecedented action has created a glut of dollars. This is a positive signal for the European currency! We are expecting a bullish rally in the oil market after the OPEC + summit. This factor will provide additional support for the European currency.
Trading recommendation: Buy 1.0835 and take profit 1.0901.
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.
