Forex Fundamental Analysis – Positive news for the dollar

EURUSD – Up

Positive news for the dollar

EURUSD trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of the U.S. dollar. The University of Michigan said its consumer sentiment index increased 5.3% to 102.4, the highest reading since 2004. Consumer confidence accounts for more than two-thirds of U.S. economic activity. The survey showed consumers expecting higher inflation over the next 12 months and five years. The survey’s five-year inflation expectations measure rose to 2.6% early this month from 2.3% in April. This is a positive signal for the U.S. dollar!

Trading recommendation: Sell 1.1176 and take profit 1.1145.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.