03 сентября 2020, EUR/USD
EURUSD trading plan:
China’s Caixin services PMI for August came in at 54, just slightly down from July’s reading of 54.1. That said, the index still pointed to a recovery in the sector that has now extended into a fourth consecutive month. The PMI for August managed to stay above the 50-mark separating growth from contraction. In May, the services PMI was 55, then rose to a new high of 58.4 in June, indicating a substantial increase in service sector activity. Good macroeconomic statistics from China will have a positive impact on the value of EURUSD.
Trading recommendation: Buy 1.1810 and take profit 1.1850.
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