Italy locks down | 10 Marzo 2020
10 Marzo 2020, EUR/USD
EURUSD trading plan:
We are expecting a downtrend to develop. Investors are expected a 10 basis-point cut to the deposit rate European Central Bank and an increase in monthly bond purchases of between 10 and 20 billion Euros. Italy put around a quarter of its population under an ill-defined quarantine, all-but guaranteeing a sizable hit to the eurozone economy in the first quarter. The regions affected include Lombardy, Veneto and Emilia Romagna, three of the country’s most important and economically productive. This is a negative signal for the European currency!
Trading recommendation: Sell 1.1359 and take profit 1.1325.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
