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Negative signal for the U.S. currency!

Negative signal for the U.S. currency! | 16 March 2020

16 March 2020, EUR/USD

EURUSD trading plan:

Federal Open Market Committee directed the Open Market Trading Desk (the Desk) to increase over coming months the System Open Market Account (SOMA) holdings of Treasury securities and agency mortgage-backed securities by at least $500 billion and at least $200 billion, respectively. Treasury purchases will be conducted across a range of maturities and security types to support smooth market functioning, with the intention that purchases will eventually be conducted roughly in line with the composition of Treasury securities outstanding. This is a negative signal for the U.S. currency!

Trading recommendation: Buy 1.1200 and take profit 1.1260.

David Johnson
Analyst of «FreshForex» company
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