09 Oktober 2019, EUR/USD
EURUSD trading plan:
Negative Positive macroeconomic statistics from the United States will have a positive impact on the value of the euro. A measure of underlying U.S. producer prices posted the biggest monthly drop in more than four years. The overall producer-price index also dropped 0.3% from August and was up 1.4% from a year earlier. The weaker demand is forcing companies to lower prices and preventing them from passing along any higher costs resulting from tariffs. Subdued inflation, at the producer and consumer levels, provides space for the Fed to lower borrowing costs with little concern that price gains will surpass the central bank’s goal. This is a negative signal for the U.S. dollar!
Trading recommendation: Buy 1.0951 and take profit 1.0985.
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