29 November 2022, EUR/USD
EURUSD trading plan:
European Central Bank President Christine Lagarde kept her options open as to the size and number of the ECB's future interest rate hikes, saying this will depend on a number of variables. "How much further we need to go, and how fast we need to get there, will be based on our updated outlook, the persistence of the shocks, the reaction of wages and inflation expectations, and on our assessment of the transmission of our policy stance," Lagarde told the European Parliament. Investors have been speculating about whether the ECB will raise its policy rates by 50 or 75 basis points at its next meeting and about the level at which borrowing costs will peak.
Investment idea: buy 1.0325 and take profit 1.0400.
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