Positive macroeconomic statistics from Europe | 06 May 2021

06 May 2021, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

Euro zone business activity accelerated last month as the bloc's dominant services industry shrugged off renewed lockdowns and returned to growth. IHS Markit's final composite Purchasing Managers' Index, seen as a good gauge of economic health, climbed to 53.8 last month from March's 53.2. That was just ahead of the preliminary 53.7 reading and comfortably above the 50 mark separating growth from contraction. The pace of vaccinations has continued to accelerate, and some countries are easing restrictions. So there is a good chance that euro zone GDP posts a small expansion in Q2.

Investment idea: buy 1.2000 and take profit 1.2074.

David Johnson
Analyst of «FreshForex» company
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