16 December 2022, EUR/USD
EURUSD trading plan:
U.S. retail sales fell more than expected in November, but consumer spending remains supported by a tight labor market, with the number of Americans filing for unemployment benefits decreasing by the most in five months last week. The biggest decrease in retail sales in 11 months reported by the Commerce Department was likely payback after sales surged in October as Americans started their holiday shopping early to take advantage of discounts by businesses desperate to clear excess inventory. The lack of follow-through into November suggests consumers are being much more cautious with their money amid recession fears and the draining effect of overall high inflation and sharply rising borrowing costs.
Investment idea: buy 1.0603 and take profit 1.0680.
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