Federal Reserve will cut rates aggressively this month | 03 Marzo 2020

EURUSD trading plan:

We are expecting the bullish rally to continue! Markets await a conference call between global financial ministers and central bankers, which would be led by U.S. Treasury Secretary Steven Mnuchin and U.S. Federal Reserve Chairman Jerome Powell, to discuss how to respond to the outbreak. Central bankers from the U.S., Japan and Europe have in recent days pledged to act as appropriate to address mounting risks from the coronavirus and Group of Seven finance chiefs confer by phone today. Federal Reserve will cut rates aggressively this month. A 50-basis-point Fed rate cut is fully priced in for March.

Trading recommendation: Buy 1.1140 and take profit 1.1170.