30 August 2019, EUR/USD
EURUSD trading plan:
The decline in the German consumer price index signals a decline in inflation expectations in the Euro zone. The next meeting of the European Central Bank will be held on September 12 and negative inflation reports will force the ECB to take action. We are expecting the ECB to cut interest rates in September. This is a negative factor for the euro-investors are actively selling the single European currency. A bullish rally in the oil market will have a positive impact on the value of the euro. The approach of Hurricane Dorian toward Florida raised fears that U.S. crude producers may shutter output if the. Dorian is heading toward landfall on the Atlantic coast of Florida and become a highly dangerous Category 4 hurricane on Sunday, the National Hurricane Center said.
Trading recommendation: Sell 1.1065 and take profit 1.1035.
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