Positive macroeconomic statistics from Europe | 06 May 2019
06 May 2019, EUR/USD
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.
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.
