Forex Fundamental Analysis – Negative macroeconomic statistics from Europe


EURUSD trading plan:

Investor morale in the euro zone was essentially unchanged in August from the previous month, with a slight rise too little to stave off fears of recession in the 19-country currency bloc, a survey showed. „The economic situation in the euro zone remains difficult,“ Sentix Managing Director Manfred Huebner said in a statement, adding the slight rise did not signal the all-clear. „A recession in the euro zone is still very likely,“ he said, citing weak consumer confidence, inflation and energy prices. A Sentix index on the current situation in the euro zone was up very slightly at -16.3 in August after falling to -16.5 in the previous month, which was its lowest since March 2021. An expectations index rose to -33.8, still close to its July level that was the lowest since December 2008.

Investment idea: sell 1.0219 and take profit 1.0161.

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