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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 24 January 2023

24 January 2023, EUR/USD

EURUSD trading plan:

German consumer sentiment is set to improve for a fourth consecutive month in February as energy prices fall, a GfK institute survey showed. The institute said its consumer sentiment index rose to -33.9 heading into February from a revised reading of -37.6 in January. Among the three sub-indices, income expectations posted a noticeable increase in January and economic expectations climbed to pre-war levels. However, willingness to buy continued its rollercoaster of the last few months and is currently weakening.

Investment idea: buy 1.0850 and take profit 1.0930.

David Johnson
Analyst of «FreshForex» company
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