EURUSD – Up
EURUSD trading plan:
The U.S. services sector slowed more than expected in March as demand cooled, while a measure of prices paid by services businesses fell to the lowest in nearly three years, giving the Federal Reserve a boost in the fight against inflation. The Fed is contemplating pausing the U.S. central bank’s fastest interest rate hiking cycle since the 1980s. Thirteen services industries reported growth, including arts, entertainment and recreation, accommodation and food services, public administration and mining as well as utilities, construction and information. Finance and insurance, wholesale trade and retail trade were among the five industries reporting a decline. The services sector is being supported by consumers switching spending from goods, which are typically bought on credit.
Investment idea: buy 1.0880 and take profit 1.0950.
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