08 Februari 2022, EUR/USD
EURUSD trading plan:
There is no need for big monetary policy tightening in the euro zone as inflation is set to fall back and could stabilize around 2%, European Central Bank President Christine Lagarde said. Pointing to mounting inflation risks, the ECB opened the door last week to an interest rate hike later in 2022 and said that a March 10 meeting will be crucial in deciding how quickly the central bank would wind down its long-running bond-buying scheme, a cornerstone of its stimulus efforts. "The chances have increased, have increased, that inflation will stabilize at our target," Lagarde told a European parliamentary hearing. "There are no signals that inflation will be persistently and significantly above our target over the medium term, which would require measurable tightening." This is a negative signal for the European currency.
Investment idea: sell 1.1448 and take profit 1.1385.
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