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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 22 November 2019

22 November 2019, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

Good and bad news for the Euro. The good news is a bullish rally in the oil market, as the Euro correlates with BRENT. Prices had touched their highest since late September, after Bloomberg reported that the Organization of the Petroleum Exporting Countries and Russia are likely to extend existing production cuts by another three months to July 1, 2020. The bad news is positive macroeconomic statistics from the United States. The National Association of Realtors said on Thursday that existing home sales rose 1.9% to a seasonally adjusted annual rate of 5.46 million units last month. U.S. home sales increased more than expected in October and house prices rose at the fastest pace in more than two years amid lower mortgage rates and a shortage of properties for sale.

Trading recommendation: range 1.1030 -1.1100.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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