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New LTRO

New LTRO | 08 March 2019

08 March 2019, EUR/USD

EURUSD trading plan:

The European Central Bank has brought down the Euro. The European Central Bank pushed back its timeline for raising interest rates and announced a new round of low-cost funding to banks, known as LTRO, effectively admitting that the slowdown across the euro zone’s economy will last longer than it first thought. The ECB launched a third Targeted Long-Term Refinancing Operation consisting of two-year loans partly aimed at helping banks roll over 720 billion euro in existing TLTRO and avoid a credit squeeze that could exacerbate the current economic slowdown. This is a negative signal for the Euro.

Trading recommendation: Sell 1.1215 and take profit 1.1185.

David Johnson
Analyst of «FreshForex» company
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