Positive macroeconomic statistics from Europe | 07 February 2023

EURUSD trading plan:

Investor morale in the euro zone improved for the fourth month in a row in February to reach its highest level since March 2022, but remained in negative territory as the possibility of a stagnant economy comes into focus, a fresh survey showed. Sentix's index for the euro zone rose to -8.0 points for February from -17.5 in January, beating analysts' expectations of a reading of -12.8. An expectations index rose to -6.0 from -15.8 in January, hitting its highest level since last February, while an index on the current situation also rose, to -10.0 from -19.3. Hussy said that at economic turning points, the expectations index normally turns positive faster than the current situation index, which has not been the case so far: "Investors expect the status quo of the economy to be maintained to some extent."

Investment idea: buy 1.0723 and take profit 1.0810.