Positive macroeconomic statistics | 09 مايو 2019

EURUSD trading plan:

We expect the Euro to grow against the background of positive macroeconomic statistics. German industrial output increased by 0.5 percent on the month, defying a forecast for a 0.5 percent fall, helped by higher production of consumer and intermediate goods, offering a glimmer of hope for Europe's biggest economy which is suffering from trade frictions. The bullish trend in the gold market will have a positive impact on the value of the Euro, as there is a direct correlation between the two assets. China increased reserves by 15 tons of gold in April. Demand for gold in Australia rose by 32% in April.

Trading recommendation: Buy 1.1180 and take profit 1.1222.