Good and bad news for the euro | 05 مايو 2020

EURUSD trading plan:

Good and bad news for the euro. German factory output shrank at the fastest rate on record in April and firms in the export-oriented sector cut jobs at the fastest pace in almost 11 years. "Output nosedived as large numbers of manufacturers either temporarily closed factories or cut working hours amid a collapse in export demand across Europe and the United States, and mounting supply chain challenges," said Phil Smith, principle economist at IHS Markit. A positive signal for the Euro is a bullish rally in the commodity market. Investors are increasing long positions in the precious metals and energy markets.

Trading recommendation: range 1.0870 -1.0960.