12 July 2023, EUR/USD
EURUSD trading plan:
Investor morale in the euro zone sank more than expected in July, hitting a low not seen since Europe's energy crisis last November, as the currency union remains in recession mode with no indication’s things will improve, a fresh survey showed. Sentix's index for the euro zone tumbled to -22.5 points in July from -17.0 in June. "There is also nothing positive to report in terms of forward-looking expectations," said Sentix managing director Manfred Huebner, after the corresponding index tumbled 6.2 points to -24.5 in July, also its lowest since November 2022. "The question is where an improvement could come from," said Huebner, as investors surveyed expect central banks to further restrict monetary policy, and the US economy, which has resisted the global downturn, is not spreading positive momentum.
Investment idea: sell 1.1050 and take profit 1.0935.
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