Negative macroeconomic statistics from the United States | 27 Octubre 2020

27 Octubre 2020, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. New home sales fell 3.5% to a seasonally adjusted annual rate of 959,000 units last month. August's sales pace was revised down to 994,000 units from the previously reported 1.011 million units. Investors had forecast new home sales, which account for about 12.8% of housing market sales, rising 2.8% to a rate of 1.025 million units. New home sales are counted at the signing of a contract, making them a leading housing market indicator. September's monthly decline could, however, be flagging a slowdown in housing market momentum heading into the fourth quarter.

Trading recommendation: Buy 1.1818 and take profit 1.1852.

David Johnson
Analyst of «FreshForex» company
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