Good and bad news for the euro | 26 Juli 2019

26 Juli 2019, EUR/USD

EURUSD trading plan:

Good and bad news for the euro. The good news is the bullish rally in the oil market. Geopolitical tensions in the Persian Gulf will have a positive impact on oil prices. The Euro and oil are correlated. The bad news is the European Central Bank opened the door to interest rate cuts and a raft of further measures to ease monetary policy in September, in a desperate attempt to support a Eurozone economy squeezed increasingly hard by the U.S.'s trade war with China and by a looming "hard" BREXIT. Investors are expecting lower interest rates on September 12.

Trading recommendation: range 1.1110 -1.1165.

David Johnson
Analyst of «FreshForex» company
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