The positive signal for the U.S. dollar | 02 ديسمبر 2019

GBPUSD trading plan:

We are expecting a bearish rally. Positive macroeconomic statistics from the United States on the index of business activity in the industry will force traders to increase short positions. U.S. manufacturing output accelerated in November to its fastest pace in seven months and services activity also picked up more than expected, a survey of purchasing managers. The U.S. Federal Reserve has cut interest rates in a bid to prevent the economy, now in a record 11th straight year of expansion, from slipping into recession. No more rate cuts are expected in the near term, however. This is a positive signal for the U.S. dollar.

Trading recommendation: Sell 1.2930 and take profit 1.2900.

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