Good and bad news for the Euro | 07 نوفمبر 2019

EURUSD trading plan:

Good and bad news for the Euro. The good news is positive macroeconomic statistics from Germany. German industrial orders rose more than expected in September. Contracts for German goods rose 1.3% from the previous month, helped by increases in both domestic and foreign demand. The data showed a 1.6% rise in domestic orders and 1.1% increase in foreign contracts. The bad news is the decline in the value of black gold, as the Euro correlates with BRENT oil. Oil prices slipped after the Energy Information Administration reported that U.S. oil inventories rose much more than market expected. The EIA said oil stockpiles rose by 7.9 million barrels.

Trading recommendation: range 1.1030 -1.1110.

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