EURUSD – Up
EURUSD trading plan:
Germany’s BDI industry association slashed its economic forecast for 2022 and said a halt in Russian gas deliveries would make recession inevitable in Europe’s largest economy. German gross domestic product is now expected to grow by 1.5%, rather than the 3.5% forecast given before war broke out in Ukraine, the BDI said, adding that a return to pre-crisis levels is not expected before the end of the year at the soonest. The IWH economic research institute, which is part of a group of institutes that advise the German government, also slashed its forecast to 1.5%. In March it had predicted growth of 3.1%. The institute predicted that summer would be particularly difficult for the economy, with manufacturing hit by supply bottlenecks and inflation dampening private consumption.
Investment idea: sell 1.0515 and take profit 1.0461.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.