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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 06 August 2019

06 August 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 non-manufacturing activity index fell to 53.7 from 55.1 the month before. The ISM services survey's measure on new orders fell to 54.1 last month, it’s lowest since August 2016, from 55.8. Slower growth in the services sector, which accounts for more than two-thirds of U.S. economic activity, comes at a time that the U.S.-China trade war has been squeezing manufacturers. Negative statistics force investors to sell the U.S. currency.

Trading recommendation: Buy 1.1180 and take profit 1.1220.

David Johnson
Analyst of «FreshForex» company
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