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New economic forecast from the Fed

New economic forecast from the Fed | 17 March 2021

17 March 2021, EUR/USD

New economic forecast from the Fed

EURUSD trading plan:

Fed Chairman Jerome Powell is expected to forecast that the U.S. economy will grow in 2021 at the fastest rate in decades, as the COVID-19 vaccination rollout gathers pace and U.S. households start to benefit from a $1.9 trillion stimulus package signed into law during the previous week. The Fed will likely revise up its economic forecast. The more pertinent question for investors is whether the Fed will give any inclination to start raising interest rates in 2023, earlier than it has previously said. Such a move could drive a further rally in the dollar.

Investment idea: buy 1.1895 and take profit 1.1935.

David Johnson
Analyst of «FreshForex» company
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