Correlation of euro and oil | 19 Mei 2020

19 Mei 2020, EUR/USD

EURUSD trading plan:

We are expecting an uptrend to develop. The bullish rally in the commodity market will have a positive impact on the value of the European currency. The report by Energy Intelligence that the Organization of Petroleum Exporting Countries and its allies, a group called OPEC+, may extend the cuts it agreed earlier this spring to the rest of the year. The traders confident that production cuts and the loosening of social distancing requirements will continue to push the supply/demand back towards normalcy. Several U.S. states are also lifting restrictions - Georgia, South Carolina, and Montana had eased restrictions as of May 15 and others including Texas, Maine, and Illinois have partially reopened.

Trading recommendation: Buy 1.0920 and take profit 1.0977.

David Johnson
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.
manager photo manager photo
Online-support
Dengan senang hati, kami akan menjawab pertanyaan Anda

Tulis

Get bonus