The minutes of the ECB meeting | 25 May 2020
25 May 2020, EUR/USD
EURUSD trading plan:
We are expecting a downtrend to develop. The minutes of the ECB meeting in April signaled the central bank stands ready to roll out more stimuli, if needed, at its June meeting. Market-based funding conditions for banks were tightening in unsecured money markets, as could be observed from the increase over the past few weeks in the spread between the three-month EURIBOR and OIS rates, which had recently reached the widest level seen since 2012. The survey data signaled a sharp and deep economic downturn. This is a negative signal for the euro.
Trading recommendation: Sell 1.0890 and take profit 1.0860.
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.
