Low inflation in the Euro zone | 02 Septiembre 2019

02 Septiembre 2019, EUR/USD

EURUSD trading plan:

Low inflation in the Euro zone is forcing traders to sell the Euro. European Central Bank prepares a stimulus proposal for policy makers to consider at their Sept. 12 meeting. The amid rising expectations the ECB will cut interest rates further below zero and consider fresh asset purchases. The bearish rally in the gold market will negatively affect the value of the Euro, as both assets are correlated. Investment funds are reducing long positions in gold-stated in the latest report of the CFTC. We are expecting a decrease in the value of the precious metal to the level of 1509.

Trading recommendation: Sell 1.1025 and take profit 1.0995.

David Johnson
Analyst of «FreshForex» company
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