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Negative signal for the Euro

Negative signal for the Euro | 23 July 2019

23 July 2019, EUR/USD

Negative signal for the Euro

EURUSD trading plan:

Investors are expecting the European Central Bank to lower interest rates July 25. The yield of 2-Year German government bonds fell below -0.777%. Bond yields are 0.777% lower than the European Central bank interest rate. The decline in industrial production and low inflation are forcing the Central Bank to take measures to ensure economic growth. This is a negative signal for the Euro. We're seeing a bearish trend in the gold market. This is a bad factor for the Euro as there is a correlation between the Euro and the precious metal.

Trading recommendation: Sell 1.1200 and take profit 1.1165.

David Johnson
Analyst of «FreshForex» company
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