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Negative dynamics of the credit market

Negative dynamics of the credit market | 17 August 2020

17 August 2020, EUR/USD

Negative dynamics of the credit market

EURUSD trading plan:

We have to sell a euro for two reasons. Firstly, three-month dollar interest rates rose to a six-day high on the London interbank lending market that signaling demand for the American currency from bankers. Secondly, the US Treasury will attract $62.48 billion from the market by the placement of treasury bonds, which is the maximum volume since July 31. A significant withdrawal of dollar liquidity will negatively affect the value of the euro.

Trading recommendation: Sell 1.1860 and take profit 1.1820.

David Johnson
Analyst of «FreshForex» company
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