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The US real estate market was frozen

The US real estate market was frozen | 22 December 2022

22 December 2022, EUR/USD

The US real estate market was frozen

EURUSD trading plan:

U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales plunged 7.7% to a seasonally adjusted annual rate of 4.09 million units last month, the lowest level since May 2020, the National Association of Realtors said. Outside the plunge during the first wave of the COVID-19 pandemic in the spring of 2020, this was the lowest level since November 2010. Sales have now declined for 10 straight months, the longest such stretch since 1999. They dropped in all four regions in November.

Investment idea: buy 1.0605 and take profit 1.0666.

David Johnson
Analyst of «FreshForex» company
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