Forex Fundamental Analysis – The reduction of interest rates by the Federal Reserve

EURUSD – Up

The reduction of interest rates by the Federal Reserve

EURUSD trading plan:

We are expecting a bullish rally today. The Federal Reserve cut the refinancing rate by 0.25% at its monetary policy meeting in Washington on October 30. This is a negative signal for the U.S.us currency! The FED’s interest rate cut will force traders to sell the U.S. dollar. Additional support for the Euro will be provided by the dynamics of the oil market. Positive changes in Chinese-American trade will force traders to buy oil. China’s Office of the U.S. Trade Representative said that Beijing and Washington are close to signing a partial trade deal.

Trading recommendation: Buy 1.1070 and take profit 1.1120.

TRADE METALS WITHOUT SWAPS!

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