Good news for the Euro | 19 ديسمبر 2019

EURUSD trading plan:

Good news for the Euro. Euro zone inflation accelerated in November - inflation in the 19-country bloc was 1.0% year-on-year, up from 0.7% in October. The acceleration came as unprocessed food prices rose 1.8% in November, from 0.7% in October. Energy prices were 3.2% lower, about the same decline as a month earlier. The positive dynamics of the oil market will provide additional support to the Euro. Oil inventories fell by 1.085 million barrels for the week ended Dec. 13, the EIA said. Oil prices are now set to record its third consecutive week of gains. Deeper output cuts by major producers and the phase one trade deal agreed between China and the U.S. were cited to be tailwind for the markets this month.

Trading recommendation: Buy 1.1110 and take profit 1.1140.

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