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The negative signal for the dollar

The negative signal for the dollar | 15 July 2021

15 July 2021, EUR/USD

The negative signal for the dollar

EURUSD trading plan:

Federal Reserve Chair Jerome Powell pledged "powerful support" to complete the U.S. economic recovery from the coronavirus pandemic. In testimony to the U.S. House of Representatives Financial Services Committee, Powell said he is confident recent price hikes are associated with the country's post-pandemic reopening and will fade, and that the Fed should stay focused on getting as many people back to work as possible. Any move to reduce support for the economy, by first slowing the U.S. central bank's $120 billion in monthly bond purchases, is "still a ways off," Powell said, with 7.5 million jobs still missing from before the pandemic. This is a negative signal for the dollar.

Investment idea: buy 1.1825 and take profit 1.1892.

David Johnson
Analyst of «FreshForex» company
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