EURUSD – Up
EURUSD trading plan:
US Dollar slump resulted from US Federal Reserve Chair Jerome Powell’s words. Speaking at the Brookings Institute on the economic outlook, inflation and employment, Powell was mostly dovish. He said it makes sense to moderate the pace of interest rate increases, although he added that the monetary policy would need to remain “restrictive” for some time. Additionally, he said that the time to slow the pace of rate hikes could come as soon as the next meeting in December. Powell added that economic growth has slowed below the long-run trend, which must be maintained. Finally, he said that he does not want to over-tighten and said that cutting rates is not something he intends to do anytime soon.
Investment idea: buy 1.0395 and take profit 1.0466.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
