Positive macroeconomic statistics from China | 20 اكتوبر 2020

EURUSD trading plan:

Positive macroeconomic statistics from China will have a positive impact on the value of the Euro. The world's second-largest economy grew 0.7% in the first nine months from a year earlier, the National Bureau of Statistics. China's economy remains on the recovery path, driven by a rebound in exports. China has partially emerged from a record slump caused by coronavirus shutdowns in the first months of the year. Retail sales grew 3.3% in September from a year earlier, speeding up from a modest 0.5% rise in August and posting the fastest growth since December 2019. Industrial output grew 6.9% after a 5.6% rise in August, showing the factory sector's recovery was gaining momentum.

Trading recommendation: Buy 1.1760 and take profit 1.1810.