10 Maret 2020, EUR/USD
EURUSD trading plan:
We are expecting a downtrend to develop. Investors are expected a 10 basis-point cut to the deposit rate European Central Bank and an increase in monthly bond purchases of between 10 and 20 billion Euros. Italy put around a quarter of its population under an ill-defined quarantine, all-but guaranteeing a sizable hit to the eurozone economy in the first quarter. The regions affected include Lombardy, Veneto and Emilia Romagna, three of the country’s most important and economically productive. This is a negative signal for the European currency!
Trading recommendation: Sell 1.1359 and take profit 1.1325.