Good and bad news for the Euro | 18 February 2020

EURUSD trading plan:

Good and bad news for the Euro. Investors are increasing their long positions in the oil market. This is a positive signal for the Euro. Libya's national oil corporation said that oil production was at 135,745 barrels per day as of Monday, compared with 1.2 million bpd before the stoppage. In the minutes of the RBA’s last monetary meeting, the central bank reiterated that low interest rates will probably be required for an extended period, adding that it was prepared to ease policy even further if needed. The RBA kept the official cash rate unchanged at 0.75% in its last meeting as expected. This is a positive signal for stock markets and a negative signal for the European currency.

Trading recommendation: range 1.0810 -1.0860.