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Negative signal for the dollar

15 March 2019, EUR/USD

Negative signal for the dollar

EURUSD trading plan:

Investors received a new portion of negative macroeconomic statistics from the United States. The Commerce Department said on Thursday new home sales declined 6.9 percent to a seasonally adjusted annual rate of 607,000 units. Expensive lumber as well as land and labor shortages continue to constrain builders. The real estate market is perceived by traders as an indicator of the health of the economy. The decline in housing sales shows poor health. Several economists of investment banks from Wall Street are waiting for the FED to lower interest rates at the end of the year. We can agree with this opinion - the economy feels bad and it needs incentives. This is a negative signal for the dollar!

Trading recommendation: Buy 1.1305 and take profit 1.1358.

David Johnson
Analyst of «FreshForex» company
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