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Good and bad news for the Euro

Good and bad news for the Euro | 26 April 2019

26 April 2019, EUR/USD

EURUSD trading plan:

Good and bad news for the Euro. The good news is the growth of gold prices, as the Euro and the precious metal have a direct correlation. The bad news is positive macroeconomic statistics from the United States, which will have a positive impact on the value of the dollar. The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, surged 1.3 percent to an all-time high of $70.0 billion, powered by a jump in demand for computers and electronic products. In March, orders for machinery rose 0.3 percent after declining 0.7 percent in February. Orders for computers and electronic products soared 2.2 percent. There were also increases in orders for electrical equipment, appliances and components. But orders for primary metals fell, as did those for fabricated metal products.

Trading recommendation: range 1.1110-1.1210.

David Johnson
Analyst of «FreshForex» company
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