15 June 2023, EUR/USD
EURUSD trading plan:
The Federal Reserve kept interest rates unchanged but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year as the U.S. central bank reacted to a stronger-than-expected economy and a slower decline in inflation. Speaking after the release of the Fed statement, Fed Chairman Jerome Powell noted that as the Fed has paused rates, "we’ve covered a lot of ground and the full effects of our tightening have yet to be felt." Powell added nearly all Fed officials expect more rate rises this year, and he noted that even as officials have not decided what they will do with rates at coming meetings, the July FOMC gathering is a "live meeting" which could bring another rate increase. This is a positive signal for the dollar.
Investment idea: sell 1.0848 and take profit 1.0790.
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