EURUSD – Up
EURUSD trading plan:
The downturn in German business activity deepened in September, a preliminary survey showed, as higher energy costs hit Europe’s largest economy and companies saw a drop in new business. S&P Global flash composite Purchasing Managers‘ Index, which tracks both the manufacturing and services sectors which together account for more than two-thirds of Germany’s economy, fell to 45.9 in September from August’s final reading of 46.9. September marks the third month in a row that the reading fell below the 50 mark that separates growth from contraction, as well as the lowest figure, if confirmed in a final reading, since May 2020.
Investment idea: sell 0.9770 and take profit 0.9715.
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