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.