Good and bad news | 08 Juli 2019

08 Juli 2019, EUR/USD

EURUSD trading plan:

Good and bad news for the Euro. The good news is the bull rally in the oil market! OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela. Geopolitical tensions have a positive impact on oil prices. Iran’s Foreign Ministry summoned the British ambassador to voice objection to the illegal seizure of its ship, which was headed to Syria. The bad news is the rise in U.S. government bond yields. The benchmark 10-year Treasury yield rose sharply to 2.03%. This is a positive signal for the U.S. dollar.

Trading recommendation: range 1.1200 -1.1260

David Johnson
Analyst of «FreshForex» company
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