The ECB supports the swift action | 16 April 2020
16 April 2020, EUR/USD
EURUSD trading plan:
We are expecting an uptrend to develop. The European Central Bank supports the swift action taken by euro area macroprudential authorities to address the financial sector impact of the coronavirus COVID-19 outbreak by releasing or reducing capital buffers. Macroprudential measures will free up more than €20 billion of bank capital to absorb losses and support lending. They include releases or reductions of the countercyclical capital buffer, systemic risk buffer and buffers for other systemically important institutions.
Trading recommendation: Buy 1.0880 and take profit 1.0950.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
