27 July 2022, EUR/USD
EURUSD trading plan:
Risks to the inflation outlook in the eurozone remain on the upside and have intensified, particularly in the short term, European Central Bank policymaker Pablo Hernandez de Cos said. Devos said risks included "lasting deterioration" of the eurozone's economy and persistently high energy and food prices. The ECB raised its interest rates for the first time in 11 years and guided for more hikes at its upcoming meetings. A pact clinched by European Union countries on Tuesday to voluntarily curb demand for gas as they brace for further cuts in Russian supplies has once again raised the prospect of outright rationing across the continent. Through war, siege and social strife, Europe has a long and often painful history of rationing everything from food to fuel and water, sometimes with unintended consequences. This is a negative signal for the European currency.
Investment idea: sell 1.0140 and take profit 1.0070.
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