The Open Market Desk's Survey of Primary Dealer | 26 November 2020

26 November 2020, EUR/USD

EURUSD trading plan:

In the Open Market Desk's Survey of Primary Dealers and Survey of Market Participants, respondents' views on when the Committee will most likely start raising the target range for the federal funds rate were centered around 2024. Respondents to the Desk's surveys generally expected the Federal Reserve's purchases of Treasury securities and agency mortgage-backed securities to continue at the current pace through the end of 2021 and then to slow in subsequent years, although there was a wide range of views about purchase amounts for 2022 and 2023. Some market participants expected the Committee to eventually lengthen the weighted average maturity of the Federal Reserve's purchases of Treasury securities. This is a negative signal for the dollar!

Investment idea: Buy 1.1910 and take profit 1.1947.

David Johnson
Analyst of «FreshForex» company
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