03 May 2021, EUR/USD
EURUSD trading plan:
The euro zone economy shrank less than expected in the first three months of the year, preliminary data showed. The European Union's statistics office Eurostat said gross domestic product in the 19 countries sharing the euro contracted 0.6% quarter-on-quarter for a 1.8% year-on-year fall. The euro zone's first quarter contraction was mainly caused by a 1.7% quarterly slump in its biggest economy Germany, though mitigated by 0.4% quarterly growth in second biggest France. Eurostat also said that euro zone unemployment fell in March to 8.1% of the workforce, or to 13.166 million people, from a downwardly revised 8.2% in February or 13.375 million people, defying expectations of a rise to 8.3%.This is a positive signal for the European currency!
Investment idea: buy 1.2010 and take profit 1.2070.
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