28 November 2022, EUR/USD
EURUSD trading plan:
The German economy grew slightly more in the third quarter than suggested by preliminary figures on the back of consumer spending, adding to signs that a coming recession will not hit as hard as initially feared, fresh data showed. Europe's largest economy expanded by 0.4% quarter on quarter and by 1.3% on the year, adjusted for price and calendar effects, the federal statistics office said. Household spending was the main reason for the increase, as consumers travelled and went out more after nearly all pandemic restrictions had been lifted. The preconditions for a mild course of the recession are that no acute gas shortage situation arises, that no difficult COVID developments occur, and that the supply chains continue to stabilise gradually.
Investment idea: buy 1.0335 and take profit 1.0410.
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