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Negative news from Germany

Negative news from Germany | 27 February 2020

27 February 2020, EUR/USD

Negative news from Germany

EURUSD trading plan:

Negative news from Germany is forcing investors to increase short positions in the European currency. Germany's economy is nearing stagnation in the first quarter due to the coronavirus outbreak, the DIW economic institute said, adding that German industry would be particularly hit if the virus continued to spread worldwide. German industry would be particularly affected if a global outbreak of the virus led to supply disruption for wholesale products sourced from China. DIW said Germany's gross domestic product in the first quarter would grow by just 0.1% compared to the previous quarter.

Trading recommendation: Sell 1.0922 and take profit 1.0902.

David Johnson
Analyst of «FreshForex» company
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