Eurozone Trade Balance Jumps to 17.0B – is it Good Enough to Support Euro? - Forex News by FX Leaders

Eurozone Trade Balance Jumps to 17.0B – is it Good Enough to Support Euro?

Posted Monday, March 18, 2019 by
Arslan Butt • 1 min read

According to Eurostat, the Eurozone trade balance figure shows a trade surplus. It means, the Eurozone export increased imports. As per the first estimate for Eurozone (EA19) exports of goods in January 2019 was €183.4 billion. Whereas, the number jumped by 2.5% with January 2018 (€179.0 bn).

On the flip side, the Eurozone imports stood at €181.8 bn, a growth of 3.4% seen vs. €175.9 bn imports in January 2018.

For the newbies, an increase in exports vs. imports is known as a trade surplus and typically drives bullish trend in Euro.

Anyhow, we are already in a buying position in the EUR/USD which seems to do well for us. The idea is to move stop loss to the breakeven point of 1.1339 with a take profit of around 1.1369.

Good luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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