The Fed announced updates to the SMCCF | 16 June 2020

16 June 2020, EUR/USD

The Fed announced updates to the SMCCF

EURUSD trading plan:

We are expecting an uptrend to develop. The Federal Reserve Board announced updates to the Secondary Market Corporate Credit Facility, which will begin buying a broad and diversified portfolio of corporate bonds to support market liquidity and the availability of credit for large employers. The Primary Market and Secondary Market Corporate Credit Facilities were established with the approval of the Treasury Secretary and with $75 billion in equity provided by the Treasury Department from the CARES Act. This is a negative signal for the U.S. currency!

Trading recommendation: Buy 1.1329 and take profit 1.1360.

David Johnson
Analyst of «FreshForex» company
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