Positive macroeconomic statistics from the United States | 08 Januari 2020

EURUSD trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of the dollar. The ISM Non-Manufacturing PMI Index registered growth in December, with the Composite Index coming in at 55.0, a four-month high. This indicator corresponds to a 2.2-percent increase in real gross domestic product on an annualized basis. The index is calculated such that a reading over 50 indicates expansion while a number below 50 contraction. This represents growth in business activity for the 125th consecutive month. Comments from respondents include: "Success in converting sales efforts into contracts" and "November was unusually low, but December has rebounded back to where business should have been."

Trading recommendation: Sell 1.1160 and take profit 1.1125.