16 May 2022, EUR/USD
EURUSD trading plan:
Consumer sentiment in the U.S. is at its lowest ebb in 11 years after another sharp drop, according to the University of Michigan. The survey added to evidence suggesting that inflation, coupled with the depletion of pandemic-era savings, is weighing increasingly on sentiment, especially among lower-income segments. It also provided further evidence that consumers are reversing some of the spending patterns seen during the pandemic. Buying conditions for durables reached their lowest reading since the question began appearing on the monthly surveys in 1978, primarily due to high prices, the university said. Declines in sentiment were "broad-based and visible across income, age, education, geography and political affiliation," the university said.
Investment idea: buy 1.0395 and take profit 1.0450.
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