01 октября 2019, EUR/USD
EURUSD trading plan:
We are expecting the bearish trend to continue. German inflation unexpectedly slowed to the weakest level in almost three years. Consumer prices rose an annual 0.9% in September, well short of the just under 2% rate the ECB aims to achieve for the entire euro area. In an interview ECB President Mario Draghi said the institution can do more if needed. Yet monetary stimulus will be less effective and last longer unless European governments step up spending, he said. Low inflation expectations in the European economy have a negative impact on the value of the Euro.
Trading recommendation: Sell 1.0905 and take profit 1.0870.
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