12 May 2022, EUR/USD
EURUSD trading plan:
The financial strength built up in U.S. households limited the damage from the coronavirus pandemic but may now be aggravating - and prolonging - the Federal Reserve's inflation fight as the central bank waits for people to run out of spending power. The pressure - from consumers, businesses and elected officials - is clearly rising for the Fed to show progress in a fight that Powell warned last week would be unpleasant. President Joe Biden called inflation "unacceptably high" in a statement and said the Fed plays "a primary role" in slowing price hikes and criticized Republicans as having no plans to thwart inflation. The Fed has been hiking interest rates in hopes it can curb "excess" demand, and slow inflation without necessarily forcing the economy to actually contract, as it has often done in the wake of the central bank tightening credit.
Investment idea: sell 1.0528 and take profit 1.0475.
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