Negative macroeconomic statistics from Germany | 16 اكتوبر 2019

EURUSD trading plan:

We are expecting a bearish rally today. The first reason for selling the Euro is the negative macroeconomic statistics from Germany. In its monthly survey, ZEW said that an index showing economic sentiment among investors fell to -22.8 points in October from -22.5 points in the previous month. A second index, measuring investors' assessment of the economy's current shape, fell to -25.3 from -19.9 points. Germany's leading economic institutes have cut their growth forecasts, predicting an expansion of 0.5% this year and 1.1% in 2020. The second reason for selling the Euro is the negative trend in the precious metals market. Investors sell gold and silver which will negatively affect the value of the Euro, as assets are correlated with each other.

Trading recommendation: Sell 1.1040 and take profit 1.1000.

TRADE METALS WITHOUT SWAPS!