05 April 2022, EUR/USD
EURUSD trading plan:
The final composite EU Purchasing Managers' Index, seen as a good guide to economic health, dipped to 54.9 in March from February's 55.5 but was ahead of a preliminary 54.5 estimate. A PMI covering the bloc's dominant services industry nudged up to 55.6 from 55.5, beating the 54.8 flash estimate. But the rate of growth in overall demand fell and export orders, which include orders made between member nations, declined as firms jacked up their prices to compensate for a record increase in input costs. "The further reopening of the euro zone economy amid the fading Omicron wave has provided a welcome tailwind to business activity in March, helping drive a further solid expansion from the slowdown seen at the start of the year," said Chris Williamson, chief business economist at S&P Global.
Investment idea: sell 1.0984 and take profit 1.0915.
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