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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 04 June 2019

04 June 2019, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. The Institute for Supply Management said its U.S. Manufacturing Purchasing Managers Index declined to 52.1 from 52.8 in April, hitting the lowest level since October 2016. The factory managers raised concerns about a trade war between the United States and China. ISM's factory employment index ticked higher to 53.7 after April's reading of 52.4. The index has fallen by 11% since October 2017. The risks to the U.S. economy are rising due to a slowing global economy and U.S. President Donald Trump's efforts to overhaul America's relationship with its major trading partners. Investors buy gold - this is a positive signal for the Euro!

Trading recommendation: Buy 1.1237 and take profit 1.1280.

David Johnson
Analyst of «FreshForex» company
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