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New incentives from the ECB

New incentives from the ECB | 23 August 2019

23 August 2019, EUR/USD

New incentives from the ECB

EURUSD trading plan:

The European Central Bank is ready to lower interest rates in September. A downward trend in inflation expectations was a cause for concern, and that the euro area’s economic slowdown was likely to be more protracted than expected. While external factors such as trade tensions were driving a contraction in manufacturing that could be a leading indicator for the services sector. Trade war between the USA and China, BREXIT is a high risk for the European economy. The European Central Bank will fight risks by lowering interest rates. This is a negative signal for the euro.

Trading recommendation: Sell 1.1080 and take profit 1.1055.

David Johnson
Analyst of «FreshForex» company
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