12 November 2021, EUR/USD
EURUSD trading plan:
Euro zone inflation expectations are at risk of continuing to overshoot the European Central Bank's 2% target next year, according to a poll of investment banks who raised their outlook for consumer prices for a fifth consecutive month. Euro zone inflation was forecast to average 2.2% next year after rising to 2.4% this year versus 1.8% and 2.3% predicted in October. Those forecasts are higher than the ECB's projections of 2.2% and 1.7%, respectively. On a quarterly basis, inflation was predicted to average 4.1% and 3.1% this quarter and next. It was forecast at 3.5% and 2.5% in last month's poll. Inflation in October was 4.1%, matching the all-time high set in July 2008.
Investment idea: buy 1.1437 and take profit 1.1485.
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