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Negative macroeconomic statistics from the USA

Negative macroeconomic statistics from the USA | 22 May 2019

22 May 2019, EUR/USD

Negative macroeconomic statistics from the USA

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. Existing home sales fell 0.4% to a seasonally adjusted annual rate of 5.19 million units last month. March's sales pace was unrevised at 5.21 million units. Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago, the 14th straight annual decrease. Investors were waiting for a positive release and were upset. The real estate market is an important element of U.S. GDP. The bad news indicates an economic downturn.

Trading recommendation: Buy 1.1145 and take profit 1.1185.

David Johnson
Analyst of «FreshForex» company
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