The excess of dollar liquidity in the banking system | 04 أغسطس 2020
04 أغسطس 2020, EUR/USD
EURUSD trading plan:
We are expecting a continuation of the upward trend in the European currency. There is a negative trend for the US dollar in the interbank lending market. The Libor rate on three-month loans has renewed its five-year low. US bankers no longer apply to the Federal Reserve for short-term refinancing. The last 21 days, REPO auctions are recognized as not held due to the lack of bids - this is the maximum period this year. It is negative for the dollar, because it signals an excess of dollar liquidity in the banking system.
Trading recommendation: Buy 1.1751 and take profit 1.1800.
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.
