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The first reduction of QE to come in January

The first reduction of QE to come in January | 19 August 2021

19 August 2021, EUR/USD

EURUSD trading plan:

The respondents to the Fed Open Market Desk's surveys of primary dealers and market participants expected communications on asset purchases to evolve gradually, with signals anticipated over coming months regarding both the Committee's assessment of conditions constituting "substantial further progress" and details on tapering plans. Almost 60 percent of respondents anticipated the first reduction in the pace of net asset purchases to come in January, though, on average, respondents placed somewhat more weight than in the June surveys on the possibility of tapering. This is a negative signal for the dollar.

Investment idea: buy 1.1661 and take profit 1.1739.

David Johnson
Analyst of «FreshForex» company
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