21 April 2022, EUR/USD
EURUSD trading plan:
The euro zone suffered a trade deficit for a fourth consecutive month in February as surging energy prices led to a sharp increase in the value of energy imports. Eurostat said the non-adjusted trade deficit of the 19 countries sharing the euro was 7.6 billion euros compared with a 23.6-billion-euro surplus a year earlier in February 2021. Payments for imports jumped by 38.8% year-on-year, while revenues from exports grew by only 17.0%. Euro zone trade is rarely in deficit, but this was the fourth consecutive month of shortfall, albeit sharply lower than the January figure of 27.2 billion euros. The EU's trade deficits with energy supplier Russia more than tripled to 25.2 billion euros and with Norway grew from just 0.1 billion euros a year earlier to 10.7 billion euros in Jan-Feb. The deficit also nearly doubled with China to about 60 billion euros, and widened with India, Japan and South Korea.
Investment idea: sell 1.0875 and take profit 1.0790.
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