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Investors ignore positive reports from the United States

Investors ignore positive reports from the United States | 13 Agustus 2020

13 Agustus 2020, EUR/USD

Investors ignore positive reports from the United States

EURUSD trading plan:

U.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 29-1/2 years amid broad gains in the costs of goods and services. The consumer price index rose 0.6% last month, with gasoline accounting for a quarter of the gain. The CPI increased by the same margin in June. In the 12 months through July, the CPI accelerated 1.0% after climbing 0.6% in June. These are positive macroeconomic statistics, but investors ignored the strong report from the United States. We are expecting a continuation of the upward trend on the European currency.

Trading recommendation: Buy 1.1820 and take profit 1.1855.

David Johnson
Analyst of «FreshForex» company
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