28 October 2021, EUR/USD
EURUSD trading plan:
U.S. 2-year Treasury yields rose to fresh 19-month highs, flattening the yield curve, as the possible timing of the Federal Reserve's first interest rate rise came into tighter focus. In the run-up to the Fed's policy meeting next week, market focus has moved beyond pricing the central bank's likely taper of asset purchases and onto the timing of the first rate rise since December 2018. The Fed is widely expected to begin tapering its $120 billion in monthly purchases of Treasury bonds and mortgage-backed securities next month, but Fed funds futures already priced a 70% chance of a June rate. This is a positive signal for the dollar.
Investment idea: sell 1.1615 and take profit 1.1570.
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