25 April 2019, EUR/USD
EURUSD trading plan:
We sell Euro for two reasons. The first reason is negative macroeconomic statistics from Germany. The Munich-based IFO economic institute said on Wednesday its business climate index fell to 99.2 in April from an upwardly revised 99.7 in March, the first rise after six straight declines. Economy Minister Peter Altmaier said that Berlin expected gross domestic product to grow by 0.5 percent this year after an expansion of 1.4 percent in 2018. German exporters are struggling with weaker demand from abroad, trade tensions triggered by U.S. President Donald Trump and business uncertainty caused by Britain's planned departure from the European Union. The second reason is the growth of the dollar against the currencies of emerging markets. This is a strong negative signal for the Euro!
Trading recommendation: Sell 1.1175 and take profit 1.1140.
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