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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 25 January 2021

25 January 2021, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

U.S. home sales unexpectedly rose in December, but surging house prices amid record-low inventory could slow the housing market momentum in the coming months. Home resales, which account for the bulk of U.S. home sales, surged 22.2% year-on-year. They totaled 5.64 million in 2020, the most since 2006. The housing market is being supported by cheaper mortgages and an exodus from city centers to suburbs and other low-density areas as companies allow employees to work from home and schools shift to online classes because of the pandemic. Positive macroeconomic statistics from the United States will have a negative impact on the value of the euro.

Investment idea: Sell 1.2205 and take profit 1.2165.

David Johnson
Analyst of «FreshForex» company
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