03 April 2023, EUR/USD
EURUSD trading plan:
U.S. consumer sentiment fell for the first time in four months in March as consumers worried increasingly that a recession is coming, although the turmoil in the banking system has yet to resonate extensively among American households, a fresh survey showed. The University of Michigan's monthly Consumer Sentiment Index slid to 62.0 in March from 67.0 in February and a mid-month reading of 63.4. The survey also showed consumers' views of inflation over the near-term moderated further over the course of the month. One-year inflation expectations fell to 3.6% from 4.1% in February and 3.8% two weeks earlier. That was the lowest reading since April 2021 and will be a welcome development for Fed officials who had worried last year that inflation expectations might become unanchored.
Investment idea: buy 1.0810 and take profit 1.0911.
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