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A negative day for the dollar

A negative day for the dollar | 22 September 2021

22 September 2021, EUR/USD

A negative day for the dollar

EURUSD trading plan:

Investors are awaiting hints from the Fed about reducing stimulus measures, but Jerome Powell may repeat that it's too early to think about it, since private sector employment is at 5.3 million people less than before the COVID-19 pandemic. This is a negative signal for the US dollar. Although investor expectations are high that tapering will start in 2021, there is still much uncertainty around when the Fed will announce and subsequently reduce bond purchases. The same applies to when it will then hike interest rates for the first time since 2019, before the pandemic led it to slash rates to zero.

Investment idea: buy 1.1708 and take profit 1.1769.

David Johnson
Analyst of «FreshForex» company
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