16 March 2022, EUR/USD
EURUSD trading plan:
German investor sentiment suffered a record slide in March due to the economic sanctions on Russia, a survey showed, with collapsing expectations making a recession in Europe's largest economy more likely. The ZEW economic research institute said its economic sentiment index dropped to -39.3 points from 54.3 in February. The fall was the biggest since the survey began in December 1991. The collapsing economic expectations are accompanied by an extreme rise in inflation expectations. The European Central Bank said last week it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates. This is a negative signal for the European currency.
Investment idea: sell 1.1000 and take profit 1.0933.
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