23 August 2022, EUR/USD
EURUSD trading plan:
A recession in Germany, the euro zone's biggest economy, is increasingly likely and inflation will continue to accelerate and could peak at more than 10% this autumn, the Bundesbank said in a monthly report. With its oversized industry heavily exposed to Russian gas, Germany is among the most vulnerable to any cut off in energy supplies and soaring costs are already weighing on output with more pain expected. "Declining economic output in the winter months has become much more likely," the central bank said. "The high degree of uncertainty over gas supplies this winter and the sharp price increases are likely to weigh heavily on households and companies."
Investment idea: sell 0.9960 and take profit 0.9900.
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