30 November 2021, EUR/USD
EURUSD trading plan:
Fed Chair Jerome Powell and Treasury Secretary Janet Yellen are due to testify before the U.S. Senate Banking Committee at 15.00 GMT, to discuss the economic recovery from the COVID-19 pandemic. They will also appear before the House of Representatives Financial Services Committee on Wednesday. Powell projecting 5% growth this year but noting the new variant Covid poses downside risks to economic activity and jobs and raises uncertainty around inflation. The Fed this month began to reduce its support for the economy, and is currently on pace to fully taper its $120 billion in monthly purchases of Treasuries and mortgage-backed securities by next June. The program was introduced in early 2020 to help nurse the economy through the pandemic. There "a significant risk" the timeline for the tapering of the central bank's asset purchases would be accelerated.
Investment idea: sell 1.1340 and take profit 1.1293.
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