EURUSD – Up
EURUSD trading plan:
German business morale rose more than expected in December as the outlook for Europe’s largest economy improved despite the energy crisis and high inflation, a fresh survey showed. The Ifo institute said its business climate index rose to 88.6 from a revised reading of 86.4 in November. Indicators measuring how companies assess their current situation as well as their expectations also showed bigger than expected rises. The current conditions indicator rose to 94.4 from a revised 93.2 in November, following six consecutive decreases. German business morale helped reduce the chances of a recession.
Investment idea: buy 1.0578 and take profit 1.0670.
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