Negative macroeconomic statistics from Germany | 06 Desember 2019

06 Desember 2019, EUR/USD

EURUSD trading plan:

Negative macroeconomic statistics from Germany signal a decline in the value of the Euro. German industrial output dropped by 1.7% on the month, confounding expectations for a 0.1% rise, figures released by the Statistics Office showed. Industrial output fell unexpectedly on a sharp drop in production of capital goods, pointing to persistent weakness in the backbone of the economy. We are expecting a decline in the value of precious metals amid high demand for "high-yield" assets. This is a negative signal for the Euro, as the single European currency correlates with gold.

Trading recommendation: Sell 1.1116 and take profit 1.1085.

TRADE OILS WITHOUT SWAPS!


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
David Johnson
Analyst of «FreshForex» company
Close
Masuk