EURUSD – Up
EURUSD trading plan:
Investor morale in the euro zone picked up for a third consecutive month in January to its highest level since June 2022. An expectations index rose to -15.8 from -22.0 in December, the highest level since February 2022. An index on the current situation in the euro zone also rose to -19.3 from -20.0, the highest since August 2022 and also the third consecutive rise. This is a positive signal for the European currency. Consumer expectations for US inflation in one year’s time declined slightly in the latest survey by the Federal Reserve Bank of New York. Median one-year-ahead inflation expectations declined by 0.2 percentage point to 5% in December, its lowest reading since July 2021. This is a negative factor for the dollar.
Investment idea: buy 1.0712 and take profit 1.0789.
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