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Investor morale in the euro zone slid

Investor morale in the euro zone slid | 11 October 2022

11 October 2022, EUR/USD

EURUSD trading plan:

Investor morale in the euro zone slid for the third consecutive month in October to its lowest level since May 2020 signalling a deep recession for the 19-country currency bloc, a survey showed. Sentix index for the euro zone tumbled to -38.3 points in October from -31.8 in September. The index on the current situation in the euro zone also fell, declining to -35.5 in October from -26.5 in September and hitting its lowest since August 2020. The central bankers and governments could not provide the same response now as they did for the economic collapse caused by the coronavirus pandemic in 2020 given soaring inflation.

Investment idea: sell 0.9740 and take profit 0.9660.

David Johnson
Analyst of «FreshForex» company
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