EURUSD – Up
EURUSD trading plan:
Euro zone economic sentiment improved in December for the first time since the start of the war in Ukraine, European Commission data showed, with more optimism across all sectors of the economy and a sharp drop in inflation expectations. The Commission’s monthly economic sentiment index rose to 95.8 in December from 94.0 in November, the first upward movement after a slide from a record high of 114.0 scaled in February. The mood in industry improved to -1.5 from -1.9 and the sentiment in the services sector, the euro zone’s biggest contributor to growth, more than doubled to 6.3 from 3.1. Consumers, retailers and the construction industry were also all more optimistic, signalling that the expected economic slowdown in the last three months of 2022 and the first three months of 2023 is likely to be a shallow one.
Investment idea: buy 1.0645 and take profit 1.0712.
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