17 October 2019, EUR/USD
EURUSD trading plan:
Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. U.S. retail sales unexpectedly posted the first decline in seven months - value of overall sales fell 0.3% in September. Sales in the “control group” subset, which some traders view as a more reliable gauge of underlying consumer demand, were little changed. The measure excludes food services, car dealers, building-materials stores and gasoline stations. Investors are expected the Federal Reserve to cut interest rates at its October 30 meeting. This is a negative signal for the U.S. dollar!
Trading recommendation: Buy 1.1060 and take profit 1.1100.