14 May 2020, EUR/USD
EURUSD trading plan:
Negative macroeconomic statistics from the United States will have a positive impact on the value of the euro. The producer price index for final demand tumbled 1.3% last month, the biggest decline since the series was revamped in December 2009, after slipping 0.2% in March. In the 12 months through April, the PPI decreased 1.2%. That was the biggest drop since November 2015 and followed a 0.7% increase in March. The so-called core PPI fell 0.2% in March and has now declined for three straight months. In the 12 months through April, the core PPI decreased 0.3%. That was the first 12-month drop in core PPI and followed a 1.0% increase in March.
Trading recommendation: Buy 1.0810 and take profit 1.0880.
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