26 October 2020, EUR/USD
EURUSD trading plan:
U.S. business activity grew in October at the strongest pace since February 2019 and business expectations advanced to a more than two-year high. The IHS Markit flash composite index of purchasing managers at manufacturers and service providers increased to 55.5 from 54.3, the group reported Friday. Readings above 50 indicate growth and the figure stands in contrast to the euro area, where the gauge contracted for the first time in four months. The IHS Markit’s flash services PMI rose by 1.4 points to 56 in October, also a 20-month high and a gauge of business expectations jumped by the most in more than a decade. The group’s manufacturing index edged up to 53.3, the fourth straight month of expansion and the highest since January 2019.
Trading recommendation: Sell 1.1840 and take profit 1.1810.
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