Negative macroeconomic statistics from the United States | 30 April 2019

30 April 2019, EUR/USD

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a negative impact on the value of the dollar. U.S. consumer spending rebounded in March while the Federal Reserve's preferred underlying inflation gauge eased to a one-year low. In March, spending on goods rebounded 1.7 percent, with outlays on long-lasting manufactured goods such as cars shooting up 2.3 percent. Spending on goods fell 0.5 percent in February. Outlays on services increased 0.5 percent last month, driven by healthcare spending, after rising 0.4 percent in February. The meeting of the Federal Reserve will be held on May 1 and the Committee can make a number of negative statements for the dollar.

Trading recommendation: Buy 1.1174 and take profit 1.1231

David Johnson
Analyst of «FreshForex» company
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