ECB adopts an unprecedented set of collateral measures | 09 أبريل 2020

EURUSD trading plan:

We are expecting an uptrend to develop. European central bank adopts an unprecedented set of collateral measures to mitigate the tightening of financial conditions across the euro area. ECB eases the conditions for the use of credit claims as collateral and adopts a general reduction of collateral valuation haircuts. The system is complementary to other measures recently announced by the ECB, including additional longer-term refinancing operations and the Pandemic Emergency Purchase Programme as a response to the coronavirus emergency. This is a positive signal for European banks.

Trading recommendation: Buy 1.0841 and take profit 1.0901.