18 February 2021, EUR/USD
EURUSD trading plan:
Upbeat U.S. data released gave the greenback a boost. Core retail sales grew 5.9% month-on-month in January, compared to the 1% growth in forecasts and the 1.8% fall recorded in December. The Producer Price Index grew 1.3% month-on-month in January, higher than the forecast 0.4% growth and December’s 0.3% growth. This is a positive factor for the dollar. A bullish rally in the oil market will have a positive impact on the value of the European currency as the assets are correlated with each other. Texas oil producers and refiners remained shut for a fifth day on Wednesday after several days of blistering cold, and the governor ordered a ban on natural gas exports from the state to try to speed the restoration of power.
Investment idea: range 1.2025 -1.2110
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