Good and bad news for the euro | 20 أبريل 2020

EURUSD trading plan:

The bearish rally in the commodity market will have a negative impact on the value of the Euro. Gold could weaken this week if risk appetite continues to soar. The catalysts behind the selling pressure were optimism over whether the COVID-19 pandemic was peaking and positive developments over how soon governments will start to ease lockdowns which have crippled business and consumer activity worldwide. Positive news for the euro is a reduction in the discount rate in China. The one-year loan prime rate was lowered by 20 basis points to 3.85% from 4.05% previously, while the five-year LPR was cut by 10 bps to 4.65% from 4.75%.

Trading recommendation: range 1.0835- 1.0930.