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This is a negative signal for the European currency

This is a negative signal for the European currency | 24 February 2022

24 February 2022, EUR/USD

This is a negative signal for the European currency

EURUSD trading plan:

The European Central Bank may be in position to end bond purchases as euro zone inflation appears to be moving closer to the bank's 2% target, Philip Lane, the bank's chief economist told. With price pressures building, the ECB abandoned this month a pledge not to raise interest rates this year and policymakers are now preparing to curb stimulus, possibly signaling an end to debt buys within months and even hinting at a rate hike late this year or early 2023. "The data clearly suggest that we could be moving closer to our medium-term target," Lane told Frankfurter Allgemeine Zeitung.

Investment idea: sell 1.1280 and take profit 1.1210.

David Johnson
Analyst of «FreshForex» company
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