The bullish rally | 04 March 2020

04 March 2020, EUR/USD

The bullish rally

EURUSD trading plan:

We are expecting the bullish rally to continue! The Board of Governors of the Federal Reserve System voted unanimously to set the interest rate paid on required and excess reserve balances at 1.10 percent, effective March 4, 2020. Federal Reserve's non-reserve liabilities, the Committee directs the Desk to continue purchasing Treasury bills at least into the second quarter of 2020 to maintain over time ample reserve balances at or above the level that prevailed in early September 2019. This is a negative signal for the dollar!

Trading recommendation: Buy 1.1150 and take profit 1.1181.

David Johnson
Analyst of «FreshForex» company
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