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Highest level in the last five weeks

Highest level in the last five weeks | 21 March 2019

21 March 2019, EUR/USD

Highest level in the last five weeks

EURUSD trading plan:

The Euro is trading at its highest level in the last five weeks. The uptrend is getting stronger! The Federal Reserve unexpectedly cut its outlook on rate hikes, signaling no further tightening would be appropriate for the current year amid a slowdown in economic growth. The Fed also now expects to raise borrowing costs only once more through 2021. The Fed's dovish monetary policy sent government bond yields tumbling. Investors staged a sale of the US currency. Gold shows an uptrend. This is a positive signal for the Euro, as there is a direct correlation between the instruments.

Trading recommendation: Buy 1.1415 and take profit 1.1480.

David Johnson
Analyst of «FreshForex» company
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