EUR/USD Signal in Profit – German Economic Sentiment Rises - Forex News by FX Leaders

EUR/USD Signal in Profit – German Economic Sentiment Rises

Posted Tuesday, March 19, 2019 by
Arslan Butt • 1 min read

A day before, we opened a forex trading signal in the EUR/USD to buy above $1.1339 with a stop loss below $1.1299 and take profit around $1.1369. The recent bullish wave came in response to better than anticipated German ZEW Economic Sentiment.

As per the recent results, the ZEW Indicator of Economic Sentiment for Germany registered a strong gain of 9.8 points in March 2019, with the corresponding indicator climbing to a level of minus 3.6 points. As you know, the indicator is a survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany. So here we found that the investors seem fine with the ongoing economic activity in Eurozone and they are expecting betterment in the upcoming 6 months.

With that, EUR/USD is also taking a bullish lead. The forex trading signal is floating in profit now and is very likely to hit our take profit at $1.1369.

The candlestick pattern of white soldiers is indicating a bullish bias in the market. So let’s wait for the take profit with a breakeven stop loss to secure yourself against any reversal.

Good luck!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments