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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 06 March 2019

06 March 2019, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

Positive macroeconomic statistics from the United States will support the dollar. The Commerce Department said new home sales increased 3.7 percent to a seasonally adjusted annual rate of 621,000 units, the highest level since May 2018. November's sales pace was revised down to 599,000 units from the previously reported 657,000 units. October's sales pace was also revised lower. The housing market hit a soft patch last year amid higher mortgage rates, expensive lumber as well as land and labor shortages, which led to tight inventories and less affordable homes. The growth of real estate sales is an indicator of the health of the economy. This is a positive signal for the dollar!

Trading recommendation: Sell 1.1312 and take profit 1.1288.

David Johnson
Analyst of «FreshForex» company
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