Negative macroeconomic statistics from Germany | 06 Desember 2019

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.

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