Negative macroeconomic statistics from Germany | 24 سبتمبر 2019
24 سبتمبر 2019, EUR/USD
EURUSD trading plan:
We are expecting the bearish trend to continue. German private sector activity shrank for the first time in 6 years in September. Markit's flash composite Purchasing Managers' Index which tracks the manufacturing and services sectors that together account for more than two-thirds of the economy, fell to 49.1 from 51.7 in the previous month. A sub-index measuring the manufacturing sector plunged to 41.4 - the lowest level in more than 10 years. A sub-index gauging services activity fell to 52.5 from 54.8 in the previous month. This is a negative factor for the euro!
Trading recommendation: Sell 1.0997 and take profit 1.0949.
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.
