18 May 2022, EUR/USD
EURUSD trading plan:
Federal Reserve Chair Jerome Powell pledged that the U.S. central bank would ratchet interest rates as high as needed to kill a surge in inflation that he said threatened the foundation of the economy. "What we need to see is inflation coming down in a clear and convincing way and we're going to keep pushing until we see that," Powell said at a Wall Street Journal event. Acknowledging the possible "pain" that controlling inflation might cause in terms of slower economic growth or higher unemployment, Powell said there were "pathways" for the pace of price hikes to ease without a full-blown recession. But if inflation does not fall, Powell said the Fed would not flinch from raising rates until it does.
Investment idea: sell 1.0525 and take profit 1.0474.
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