26 May 2020, EUR/USD
EURUSD trading plan:
Good and bad news for the Euro. The Ifo business-climate index came in at 79.5 points in May from a downwardly revised 74.2 points in April. The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction. Across all sectors, the business climate showed some improvement, driven by higher expectations. Many companies are still pessimistic about their business but the gradual easing of the lockdown "offers a glimmer of hope," said Clemens Fuest, president of the Ifo Institute. 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. This is a negative signal for the Euro!
Trading recommendation: range 1.0850- 1.0925.
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