06 June 2023, EUR/USD
EURUSD trading plan:
Investors got more gloomy on prospects for the euro zone economy in June, dragged down by negative expectations for Germany, Europe's biggest economy, a fresh survey showed. Economic analysis company Sentix said its monthly survey on investor views on the 20-member euro zone, which gauges whether investors are positive or negative on growth prospects, fell to minus 17 points for June from minus 13.1 in May. The index on the current situation in particular took a fall, dipping to minus 15.8 from minus 7.0, raising the question of whether recession had already begun in the Eurozone, Sentix said. The German economy fell into recession in early 2023 after household spending, a key source of growth in Europe's economic engine, succumbed to pressures from high inflation, an estimate from the statistics office showed last month.
Investment idea: sell 1.0745 and take profit 1.0680.
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