29 June 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 -27.4 points heading into July after posting a short-lived recovery in June with a revised reading of -26.2 points. "The disruptions in supply chains are causing energy and food prices in particular to skyrocket, resulting in a gloomier consumer climate than ever before," said Rolf Buerkl, GfK consumer expert. The consumer climate indicator forecasts the development of real private consumption in the following month. An indicator reading above zero signals year-on-year growth in private consumption. A value below zero indicates a drop compared with the same period a year earlier. According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption.
Investment idea: sell 1.0525 and take profit 1.0460.
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