29 June 2021, EUR/USD
EURUSD trading plan:
In June Eurosystem projections, the 2021 and 2022 GDP growth forecasts for the euro area have been upgraded by between 0.5 and 0.6 percentage points compared with March projections. These improved economic prospects reflect the swifter progress of the vaccination campaign in the second quarter of this year, substantial additional fiscal support – partly funded by the Next Generation EU package – and the more favorable outlook for global demand. Overall, euro area banks have weathered the pandemic crisis. The extraordinary fiscal and monetary policy measures provided support to the economy over that period, including income support for firms and households, loan guarantees and statutory payment moratoria, as well as the ECB’s expanded set of unconventional monetary policy measures and prudential actions.
Investment idea: buy 1.1890 and take profit 1.1950.
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