13 Septiembre 2019, EUR/USD
EURUSD trading plan:
We are expecting the continuation of the bearish trend in the euro. European Central Bank promised continued stimulus to the ailing euro zone economy through asset purchases. The ECB cut its key deposit rate to -0.5%.Soft monetary policy of the ECB will have a negative impact on the value of the euro. Positive macroeconomic statistics from the United States will have a positive impact on the value of the U.S. dollar. In the 12 months through August, the core CPI increased 2.4%, the most since July 2018. The core CPI was boosted by a surge in healthcare costs and increases in prices for airline tickets, recreation and used cars and trucks. Investors are expecting one cut in Federal Reserve interest rates. Earlier, investors are expected two cuts in Federal Reserve interest rates. This new factor forces traders to sell the euro and buy the dollar.
Trading recommendation: Sell 1.1085 and take profit 1.1038.
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