21 November 2022, EUR/USD
EURUSD trading plan:
Federal Reserve Bank of Boston leader Susan Collins said that with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control. The Fed has lifted its policy rate more rapidly this year than any time since the 1980s, including four straight 75-basis-point increases that by early this month had brought short-term borrowing costs to a 3.75%-4% range, from near zero in March. Fed Chair Jerome Powell and other policymakers have signaled that the central bank could shift to smaller rate hikes next month to avoid tightening more than necessary and sending the economy into recession.
Investment idea: sell 1.0309 and take profit 1.0235.
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