Correlation between the Euro and BRENT | 19 Februari 2020

19 Februari 2020, EUR/USD

EURUSD trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of the dollar. In January, the average number of new home orders per community surged 34% to the highest level for the month since the housing recovery began in 2012. The property market is rebounding from a mini slump a year ago caused by a spike in borrowing costs. The Treasury curve remained inverted on Wednesday as yields on three-month bills traded above yields on 10-year notes. A bullish rally in the oil market will have a positive impact on the value of the Euro. U.S. imposed sanctions on a unit of Rosneft, Russia’s largest oil producer, were cited as a tail wind for oil markets today.

Trading recommendation: range 1.0770 -1.0840.

David Johnson
Analyst of «FreshForex» company
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