28 April 2022, EUR/USD
EURUSD trading plan:
The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, dropped to -26.5 points heading into May from a revised -15.7 points a month earlier, as the key indicator fell even further than the previous record set in May 2020 during Germany's first COVID-19 lockdown. The drop in consumer sentiment was accelerated by a significant increase in the propensity to save in April, it added. The GfK report came as the German government was set to present its updated economic forecasts on Wednesday. Berlin will cut its growth forecast for Europe's biggest economy for 2022 to 2.2% from 3.6%.
Investment idea: sell 1.0570 and take profit 1.0515.
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