EURUSD – Up
EURUSD trading plan:
Negative macroeconomic statistics from the USA will have a positive impact on the value of the Euro. U.S. retail sales unexpectedly declined in April for the second time in three months – the value of overall sales declined 0.2% after a 1.7% increase the prior month that was the strongest gain since 2017. The report showed seven of 13 major retail categories decreased. The negative trend was recorded in online sales. The Federal Reserve said industrial production fell 0.5% in April after rising 0.2% in March. Automobile assembly plants are cutting back production as slowing sales have led to a glut of vehicles in showrooms. Production was also hammered by a 1.8% tumble in aircraft and parts output last month.
Trading recommendation: Buy 1.1200 and take profit 1.1255.
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