Booming car sales | 08 ديسمبر 2020

EURUSD trading plan:

Booming car sales drove a stronger-than-expected jump in German industrial output in October. The German government has unleashed an unprecedented array of rescue and stimulus measures to help companies and consumers get through the COVID-19 pandemic as unscathed as possible, including incentives to buy electric and hybrid cars. Industrial output was up by 3.2% on the month after an upwardly revised increase of 2.3% in the previous month, figures released by the Federal Statistics Office showed. Germany's biggest industrial sector, production rose by nearly 10% on the month but was still roughly 6% below pre-pandemic levels. This is a positive signal for the European currency!

Investment idea: Buy 1.2100 and take profit 1.2140.