Positive macroeconomic statistics from China | 16 Juli 2019

16 Juli 2019, EUR/USD

Positive macroeconomic statistics from China

EURUSD trading plan:

Positive macroeconomic statistics from China will have a positive impact on the value of the Euro. The industrial output climbed 6.3% from 12 months earlier, compared to the expected 5.2%. Fixed-asset investment for the first half of this year rose 5.8% from 12 months earlier, in contrast to a 5.6% forecast. Retail sales for June rose 9.8%, eclipsing expectations for a slight pullback to 8.5%. The European economy is highly sensitive to changes in economic growth in China. Positive releases from Beijing allow us to count on the continuation of the bullish trend for the Euro.

Trading recommendation: Buy 1.1245 and take profit 1.1310.

David Johnson
Analyst of «FreshForex» company
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