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The negative manufacturing PMI

The negative manufacturing PMI | 19 April 2019

19 April 2019, EUR/USD

EURUSD trading plan:

The negative manufacturing PMI report of the euro zone indicates the continuation of the bearish trend for the Euro. The pace of euro zone economic growth slowed for a second successive month in April. New order growth picked up only marginally, remaining close to stagnant. Employment growth picked up slightly but remained among the lowest since 2016. Firms often remained reluctant to take on additional staff in the face of weak demand and an uncertain outlook. Concerns focused on rising political uncertainty, including BREXIT, trade wars and protectionism.

Trading recommendation: Sell 1.1260 and take profit 1.1230.

David Johnson
Analyst of «FreshForex» company
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