Forex Fundamental Analysis – Negative macroeconomic statistics from Europe


EURUSD trading plan:

Investor morale in the euro zone fell this month to its lowest level since May 2020, pointing to an „inevitable“ recession in the 19-country currency bloc, a survey showed. Sentix’s index for the euro zone fell to -26.4 from -15.8 in June. poll had pointed to a July reading of -19.9. „The energy crisis is leading to considerable economic distortions,“ Sentix Managing Director Manfred Huebner said in a statement. „In every respect, the dynamics are reminiscent of the crisis year 2008, and what was then the collapse of the financial system is now the danger of the collapse of the European energy supply,“ he added.

Investment idea: sell 1.0379 and take profit 1.0330.

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