Evening review on EUR/USD for May 19, 2020

By | May 19, 2020
InstaForex
Evening review on EUR/USD for May 19, 2020

Relevance up to 09:00 2020-05-20 UTC–5

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Merkel and Macron’s large-scale plan to save the Eurozone economy by 500 billion euros primarily went on major criticisms. Austria opposed the plan publicly, but also in opposition to the plan by Denmark, Sweden, and the Netherlands.

The root of the opposition is mainly because it is supposed that the help from the fund might be unattainable and difficult to request. Critical countries are ready to get help, however, in the form of a loan. It is clear that the main assistance will have to be sent to Spain and Italy – and Germany, France and the countries of northern Europe will pay.

Despite all these, the euro is holding up.

You may keep purchases from 1.0855, stop at 1.0835.

You can consider purchases from 1.0880. If the euro holds, you can buy from 1.0920, but consider doing that by tomorrow, May 20.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sam Alan,
Analytical expert
InstaForex Group © 2007-2020

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