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Positive macroeconomic statistics of the euro area

Positive macroeconomic statistics of the euro area | 24 May 2021

24 May 2021, EUR/USD

Positive macroeconomic statistics of the euro area

EURUSD trading plan:

The IHS Markit Eurozone Composite PMI rose from 53.8 in April to 56.9 in May. New order growth meanwhile surged to the highest since June 2006, outpacing growth of output to the greatest extent in the survey’s 23-year history. Demand for goods and services are surging at the sharpest rate for 15 years across the eurozone as the region continues to reopen from covid-related restrictions. Virus containment measures have been eased in May to the lowest since last October, facilitating an especially marked improvement in service sector business activity, which has been accompanied by yet another near-record expansion of manufacturing.

Investment idea: buy 1.2175 and take profit 1.2240.

David Johnson
Analyst of «FreshForex» company
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