07 September 2022, EUR/USD
EURUSD trading plan:
German industrial orders fell for the sixth month in a row in July as the military actions in Ukraine continues to take its toll on Europe's largest economy, the economy ministry said. Orders for industrial goods were down 1.1% on the month in seasonally adjusted terms, figures from the federal statistical office showed. Compared with July 2021, orders were down 13.6%."The development of demand in the manufacturing sector continued to be weak at the beginning of the third quarter in view of the war and high gas prices," said the economy ministry, which said the outlook for the second half remains subdued. Domestic orders in particular fell 4.5% in July while orders from abroad grew by 1.3%, according to the statistics office.
Investment idea: sell 0.9914 and take profit 0.9850.
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