The US Treasury repays bonds | 21 Juli 2020

21 Juli 2020, EUR/USD

The US Treasury repays bonds

EURUSD trading plan:

We are expecting an uptrend to develop. The US Treasury repays bonds worth $ 45 billion, which will positively affect the value of the European currency. The inflow of dollar liquidity into the financial system always has a positive signal for the stock market. The Federal Reserve cancels REPO auctions for ten consecutive days due to the lack of applications for dollar loans from commercial banks. Such dynamics indicate the absence of problems with dollar liquidity among bankers, which will positively affect the US stock market. Additional liquidity forces investors to increase their long positions.

Trading recommendation: Buy 1.1430 and take profit 1.1495.

David Johnson
Analyst of «FreshForex» company
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