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Good day for the euro

Good day for the euro | 03 April 2019

03 April 2019, EUR/USD

EURUSD trading plan:

Good day for the euro! The United States was disappointed investors negative macroeconomic statistics. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, fell 0.1 percent, pulled down by declining demand for machinery and computers and electronic products. The economy is losing momentum, largely as the stimulus from a $1.5 trillion tax cut fades. Fears of a disorderly exit by Britain from the European Union are also weighing on the economy and manufacturing sector. The uptrend in gold and oil will have a positive impact on the value of the euro. Oil is becoming more expensive due to the reduction of supplies from OPEC.

Trading recommendation: Buy 1.1205 and take profit 1.1240.

David Johnson
Analyst of «FreshForex» company
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