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13.09.201910:30 Forex Analysis & Reviews: Trading plan for EUR/USD pair on 09/13/2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 13.09.2019 analysis

The euro made two big moves after the ECB. First was a sharp drop down to almost the lows of the month at 1.0926, and then an equally rapid growth reaching a new high of the month at 1.1086.

This probably indicates strong support for the euro at current levels.

The ECB lowered the rate to minus 0.5% and introduced a new liquidity injection program of 20 billion euros per month. Nevertheless, it is much less than the previous such program that reached 60 billion euros per month.

EURUSD: We keep purchases from 1.1060 with a possible reduction.

Jozef Kovach
Analytical expert of InstaForex
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