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A positive signal for the European currency

A positive signal for the European currency | 18 October 2022

18 October 2022, EUR/USD

EURUSD trading plan:

The German government is aiming to cushion an expected recession with its investment programmes, but without fuelling inflation, Economy Minister Robert Habeck said. "We have a chance with the right stimulation to manage both: to cushion the recession, maybe not even to let it get too deep and too long, and at the same time not to fuel inflation," he told the German-Czech Economic Forum in Prague. This is a positive signal for the European currency. Earlier in the month, the New York Fed also reported an easing of supply chain pressures. As of September, the bank's Global Supply Chain Pressure Index had eased for five straight months, leading the bank to note that the index "year-to-date movements suggest that global supply chain pressures are beginning to fall back in line with historical levels." This is a negative signal for the dollar.

Investment idea: buy 0.9825 and take profit 0.9910.

David Johnson
Analyst of «FreshForex» company
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