New challenges for the European economy | 30 اكتوبر 2020

EURUSD trading plan:

The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon. The resurgence in COVID-19 infections presents renewed challenges to public health and the growth prospects of the euro area and global economies. ECB will continue purchases under the pandemic emergency purchase programme with a total envelope of €1,350 billion. These purchases contribute to easing the overall monetary policy stance, thereby helping to offset the downward impact of the pandemic on the projected path of inflation.

Trading recommendation: Sell 1.1694 and take profit 1.1668.