27 August 2020, EUR/USD
EURUSD trading plan:
The Fed chief is expected to discuss the results of the central bank's framework review, a study started nearly two years ago to explore how monetary policy should be adapted for a low interest rate environment. He is scheduled to begin his speech at 9:10 AM ET. Powell to reiterate support for an ongoing expansion of monetary policy to ensure the economic recovery remains on track, probably by advocating average inflation targeting. This would see the Fed allowing inflation levels to climb above its 2% target. This is a positive signal for EURUSD.
Trading recommendation: Buy 1.1826 and take profit 1.1882.
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