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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 11 October 2019

11 October 2019, EUR/USD

EURUSD trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of the dollar. Excluding the volatile food and energy components, the CPI climbed 0.1% after gaining 0.3% for three straight months. The so-called core CPI was restrained by moderate gains in healthcare costs, as well as declines in apparel, new motor vehicles and communications prices. In the 12 months through September, the core CPI increased 2.4%, matching August's rise. Investors increase short positions in the gold market which will negatively affect the value of the Euro, as there is a correlation between the Euro and the precious metal.

Trading recommendation: Sell 1.1025 and take profit 1.0985.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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