29 April 2019, EUR/USD
EURUSD trading plan:
Investors close short positions on the Euro. Fed focus on a measure of domestic demand that increased at only a 1.3 percent rate, the slowest since the second quarter of 2013. It increased at a 2.6 percent pace in the October-December quarter. The Fed recently suspended its three-year monetary policy tightening campaign, dropping forecasts for any rate hikes this year. The U.S. central bank increased borrowing costs four times in 2018. The futures market in Chicago indicates a 40% probability that interest rates in the US will be reduced at the Central Bank meeting December 11. This is a negative signal for the U.S. dollar!
Trading recommendation: Buy 1.1131 and take profit 1.1185
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