17 March 2023, EUR/USD
EURUSD trading plan:
The European Central Bank became the first mover in a global test of how a potential banking crisis may influence monetary policy - and kept its focus at least for now on fighting inflation with a half-point rate increase. The ECB's new policy statement and comments from officials nodded to the concerns about bank stability, but still led with the common refrain that inflation is projected to remain too high for too long. “We are not waning on our commitment to fight inflation. The determination is intact. We are addressing the price stability issue by raising the interest rate by 50 basis points. Separate from that we are also monitoring market tensions" and would be prepared to provide additional support for financial institutions if necessary”, European Central Bank President Christine Lagarde said in remarks after the policy decision.
Investment idea: buy 1.0650 and take profit 1.0740.
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