EURUSD – Up
EURUSD trading plan:
Germany’s recession will be milder than expected, with the economy expected to contract by 0.1% in 2023 compared to a previous forecast of shrinking by 0.3%, the Ifo economic institute said. The economy is expected to grow by 1.8% in 2022 compared to a previous forecast of 1.6%. Inflation is seen at 7.8% this year, 6.4% next year and 2.8% in 2024, Ifo said in a statement. Economic growth is expected to bounce back to 1.6% in 2024. This is a positive signal for the European currency.
Investment idea: buy 1.0633 and take profit 1.0717.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
