04 October 2023, EUR/USD
EURUSD trading plan:
U.S. Treasury Secretary Janet Yellen said she was very optimistic about the outlook for the U.S. economy, adding that inflation was coming down in the short term and the labor market was "extremely strong." "Medium term: we are now engaging in a very substantial program of investments to strengthen our economy, to boost our productive capacity," Yellen said. U.S. gross domestic product is still expanding at a pace well above what Federal Reserve officials regard as the non-inflationary growth rate of around 1.8%, often referred to as the "potential" growth rate. U.S. GDP expanded at a 2.4% annualized rate in the second quarter, and some estimates put the current quarter's pace at more than twice that.
Investment idea: sell 1.0475 and take profit 1.0400.
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