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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 06 May 2019

06 May 2019, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

Positive macroeconomic statistics from Europe will have a positive impact on the value of the Euro. Inflation in the Euro zone reached a six-month high - a pleasant surprise for traders. The Consumer Price Index rose by 1.7% in April from 1.4% the previous month. Eurostat revealed that energy prices and services were the biggest drivers of the jump in CPI. The core release climbed to 1.2%, compared to 0.8% in March. Both indicators beat their estimates. Consumer price increases always have a positive impact on the value of the Euro.

Trading recommendation: Buy 1.1190 and take profit 1.1240.

David Johnson
Analyst of «FreshForex» company
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