23 April 2021, EUR/USD
EURUSD trading plan:
While global investors remain nervous about a resurgent COVID-19 crisis in Asia and stretched valuations in parts of U.S. equities, European stocks have enjoyed strong gains this year as COVID-19 vaccination drive and stimulus programmes lift hopes of a strong economic rebound. The ECB’s decision to keep rates unchanged as widely expected sets the stage for a battle at the June 10 meeting, when policymakers have to decide whether to slow bond buying, even if that means allowing borrowing costs to drift higher. European companies are set to exit a two-year profit slump with a record jump that outperforms U.S. peers, with profits for companies on the STOXX 600 forecast to have risen 61% in the first quarter, as per ECB data.
Investment idea: buy 1.2005 and take profit 1.2088.
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