21 January 2022, EUR/USD
EURUSD trading plan:
Concern that the Federal Reserve will aggressively move to raise rates this year is taking a toll on the market. Investors are anxiously awaiting the U.S. central bank's policy meeting next week for new details on how it will tackle inflation. Investors have been concerned about rising rates because they raise borrowing costs and could dent global growth prospects and douse the earnings outlook for companies. The Fed to tighten monetary policy at a much faster pace than thought a month ago to tame high inflation. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, rose 1.2 basis points at 1.03%. This is a positive signal for the dollar.
Investment idea: sell 1.1339 and take profit 1.1285.
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