We're expecting consolidation at the psychological level of 1.1000 | 01 Agustus 2019
01 Agustus 2019, EUR/USD
EURUSD trading plan:
Good news and bad news. The Federal Reserve cut interest rates for the first time since 2008 as inflation continued to track below target. The last time the Fed cut rates was Dec. 16, 2008, the heart of the Financial Crisis and three months after the collapse of Lehman Bros., which had brought series of emergency cuts in the interim. This is good news for the euro. Investors are increasing their short positions on gold, which will have a negative impact on the value of the Euro. We're expecting consolidation at the psychological level of 1.1000.
Trading recommendation: range 1.1000 - 1.1070.
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.
