EURUSD – Up
EURUSD trading plan:
Euro zone industrial production rose much more than expected in September, and output for August was revised upwards too, data showed, although economists said that may be partly due to manufacturers frontloading production before energy-related disruptions this winter. The stronger than expected industrial production helps explain why the euro zone still managed to grow 0.2% quarter-on-quarter in the July-September period, despite strong headwinds from soaring energy prices and rising interest rates. The European Commission expects the euro zone economy will contract in the last three months of the 2022 and in the first quarter of 2023.
Investment idea: buy 1.0270 and take profit 1.0330.
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