Positive macroeconomic statistics from China | 07 مايو 2020
07 مايو 2020, EUR/USD
EURUSD trading plan:
China's exports unexpectedly rose in April for the first time this year as factories raced to make up for lost sales due to the COVID-19 shock. This is a positive signal for the European currency! Overseas shipments in April rose 3.5% from a year earlier, marking the first positive growth since December last year, customs data showed. Traders also attributed the rise in exports to factory closures elsewhere, leading to a surge in import demand, just as China's manufacturers reopened after extended shutdowns due to the virus outbreak.
Trading recommendation: Buy 1.0790 and take profit 1.0845.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
