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Bad news for the Euro

Bad news for the Euro | 15 May 2019

15 May 2019, EUR/USD

Bad news for the Euro

EURUSD trading plan:

The two negative reasons for the Euro. The first reason is negative macroeconomic statistics. Euro zone industrial production fell in March for a second straight month as output declined in France and Italy. Eurostat said output in the 19 countries sharing the euro dropped by 0.3% on the month. The second reason is the decline in the value of gold. The Euro and the precious metal have a direct correlation. Gold has traditionally had a strong influence on the Euro's trading. Gold is trading below the psychological level of $ 1,300 ounce.

Trading recommendation: Sell 1.1230 and take profit 1.1205.

David Johnson
Analyst of «FreshForex» company
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