30 April 2021, EUR/USD
EURUSD trading plan:
The U.S. economy strengthened in the first quarter of 2021, as Covid-19-related lockdowns started to ease. Government data showed gross domestic product grew at an annualized rate of 6.4% in the first quarter, up from 4.3% in the fourth quarter of 2020 and faster than consensus forecasts of a 6.1% rate. This is a positive signal for the US currency. The US Federal Reserve has published fresh statistics on the change in assets on the balance sheet. The indicator decreased by $39.9 billion. The ECB released its balance sheet statistics earlier this week, where it recorded €36.08 billion in assets. The ECB prints money faster than the US Federal Reserve System, which will have a negative impact on the EURUSD.
Investment idea: sell 1.2135 and take profit 1.2095.
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