31 January 2023, EUR/USD
EURUSD trading plan:
Euro zone economic sentiment rose to a seven-month high in January on more optimism across all sectors except construction, with inflation expectations among consumers and companies both sharply down, fresh data showed. The European Commission's Economic Sentiment Index rose to 99.9 this month, above an upwardly revised 97.1 in December. But the improving sentiment, and therefore better economic growth prospects, would likely keep the European Central Bank raising interest rates to curb inflation that was above 9% in December against the bank's target of 2%. The gradual improvement in confidence will likely reassure the ECB of the necessity of more hikes in the coming months.
Investment idea: buy 1.0810 and take profit 1.0900.
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