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Positive news for the Euro

Positive news for the Euro | 07 May 2019

07 May 2019, EUR/USD

Positive news for the Euro

EURUSD trading plan:

The national Bank of China has announced some monetary easing measures. In particular, the mandatory reserve ratio for small and medium-sized banks will be reduced from the current 10-11.5% to 8% in three stages – from May 15, June 17, July 15. This is a positive signal for the Euro. The bullish trend in the oil market will have a positive impact on the value of the Euro. Investors buy oil contracts on the background of positive news. Production in OPEC countries fell to the lowest level since 2015, amounting to 30.23 million barrels per day - said Reuters.

Trading recommendation: Buy 1.1199 and take profit 1.1245.

David Johnson
Analyst of «FreshForex» company
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