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Good and bad news | 09 March 2021

09 March 2021, EUR/USD

EURUSD trading plan:

An investor morale index in the euro zone jumped to its highest reading in over a year in March, driven by an improved view of the current situation, a survey showed. Sentix's index for the euro zone rose to 5.0 from -0.2 in February, the highest since February 2020. An expectations index advanced to 32.5 from 31.5 in February while the current situation index improved to -19.3 from -27.5 in February. Global vaccination campaigns are making good progress, raising hopes of effective protection, Sentix said in a statement. This is positive news for the euro. A downtrend in the precious metals market will have a negative impact on the value of the European currency, as the assets are correlated with each other.

Investment idea: range 1.1820 -1.1889.

David Johnson
Analyst of «FreshForex» company
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