26 May 2022, EUR/USD
EURUSD trading plan:
German consumer morale is projected to inch up in June after falling to a record low in May. The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, rose slightly to -26.0 points heading into June after hitting a revised all-time low of -26.6 points in May. "The consumer climate may have improved slightly, but consumer sentiment is still at an absolute low," GfK consumer expert Rolf Buerkl said in a statement. This is a positive signal for the European currency. The Fed mostly sees 50 basis point increases appropriate at the next couple of meetings as they are behind the curve with fighting inflation. Tighter financial conditions themselves are a clear success story for the Fed - it is the only way they can reduce inflationary pressures. This is a positive signal for the dollar.
Investment idea: range 1.0630 -1.0715.
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