The bearish rally | 03 سبتمبر 2019
03 سبتمبر 2019, EUR/USD
EURUSD trading plan:
Negative macroeconomic statistics from the Euro zone will have a negative impact on the euro. IHS Markit's August final manufacturing Purchasing Managers' Index was 47.0, matching an earlier flash reading but well below the 50 level separating growth from contraction. The future output index, which gauges optimism about the year ahead, sank to 50.6 from 52.6 - its lowest reading since November 2012. Bad statistics signal the need to reduce interest rates of the European Central Bank. We're expecting the continuation of the bearish rally in the euro!
Trading recommendation: Sell 1.0966 and take profit 1.0925.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
