16 August 2021, EUR/USD
EURUSD trading plan:
The European Central Bank will keep its hefty asset purchase scheme in place for some time to support growth and help boost inflation continues to underpin bond markets. The euro area is lagging a bit in terms of the recovery and there is most likely an expectation that the rebound won’t be as strong as in the U.S. The rising inflation expectations could most likely be explained by a view that supply bottlenecks caused by the COVID-19 outbreak would lift inflation in the short-term. This is a negative factor for the European currency. An uptrend in the precious metals market will have a positive impact on the value of the European currency, since assets are correlated with each other.
Investment idea: range 1.1745 - 1.1840.
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