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The positive signal for the European currency

The positive signal for the European currency | 18 January 2022

18 January 2022, EUR/USD

The positive signal for the European currency

EURUSD trading plan:

China's economy rebounded in 2021 with its best growth in a decade, helped by robust exports. The economy grew 8.1% last year - its best expansion since 2011 - and faster than a forecast 8.0%. The pace was well above a government target of "above 6%" and 2020's revised growth of 2.2%. The economy recorded its weakest growth in 44 years in 2020 but staged a faster recovery than other major economies. In a video speech to a World Economic Forum event, President Xi Jinping said the overall momentum of China's economy was sound and that countries should strengthen policy coordination and prevent the world economy from dipping again. This is a positive signal for the European currency.

Investment idea: buy 1.1370 and take profit 1.1415.

David Johnson
Analyst of «FreshForex» company
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