11 December 2019, EUR/USD
EURUSD trading plan:
We are expecting a downtrend to develop. The Federal Reserve meets this week and is likely to leave interest rates unchanged after cutting them three times this year. Policymakers on Wednesday will also provide updated projections for the U.S. economy and interest rates. Positive macroeconomic statistics on the labor market will provide additional support to the Federal Reserve. Nonfarm payrolls rose by 266,000, the Labor Department said Friday, handily topping expectations for a rise of 186,000. That was the biggest rise in 10 months. We are expecting positive comments from the Federal Reserve management, which will have a positive impact on the value of the dollar.
Trading recommendation: Sell 1.1099 and take profit 1.1044.
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