EURUSD – Up
EURUSD trading plan:
German business activity slowed notably this month as growth in the services sector decelerated and a slump in manufacturing deepened, a preliminary fresh survey showed. The HCOB German Flash Composite Purchasing Managers‘ Index, compiled by S&P Global, fell to 50.8 in June from 53.9 in May, below analysts‘ expectations for a reading of 53.5. Although the indicator was above the 50 level that marks growth in activity, the latest reading signalled a sharp slowdown in the rate of expansion to a four-month low. The index tracks the services and manufacturing sectors, which together account for more than two-thirds of Germany’s economy. There was a combination of a slower rise in service sector business activity and a deepening downturn in manufacturing output, the report showed.
Investment idea: sell 1.0900 and take profit 1.0820.
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