05 December 2022, EUR/USD
EURUSD trading plan:
The European Central Bank needs to focus on bringing inflation down to its 2% mid-term goal and therefore keep raising interest rates despite a deceleration in the pace of price rises in November, ECB Vice-President Luis de Guindos said. His comments came after inflation in the euro zone eased far more than expected in November, raising hopes that sky-high price growth is now past its peak of more than 10%. De Guindos said, however, that the ECB should avoid an "M-shaped evolution of inflation" where it would accelerate again after slowing down, as well as avert its stabilisation clearly above 2%.The ECB has raised rates at its fastest pace on record this year and a string of hikes over the coming months is still likely as price growth will take years to tame.
Investment idea: buy 1.0495 and take profit 1.0565.
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