EURUSD – Up
EURUSD trading plan:
There are two negative factors for the Euro. The first factor is the European Central Bank’s new quantitative easing, which will begin on November 1. The Central Bank plans to print 20 billion Euros a month. Quantitative easing always helps to reduce the value of the national currency. The second factor is a bullish rally in stock markets. The Euro is the funding currency in carry trade operations. Bullish rallies in stock markets have a negative impact on funding currencies. We are expecting to test the psychological level of 13,000 points on the German index #DAX 30.
Trading recommendation: Sell 1.1171 and take profit 1.1125.
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