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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 29 November 2019

29 November 2019, EUR/USD

EURUSD trading plan:

Negative macroeconomic statistics from Germany signal a bearish trend. Cheap heating and low fuel prices contribute to the decline in the consumer price index. This is a negative signal for the Euro zone economy. The benchmark German 10-year Government yield to its lowest since Nov. 1 We are expecting a decline in quotations of precious metals which will have a negative impact on the value of the Euro. The Euro and gold are correlated. Investors are increasing short positions in the precious metals market after positive US-China trade talks.

Trading recommendation: Sell 1.1015 and take profit 1.0988.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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