28 March 2022, EUR/USD
EURUSD trading plan:
Spanish industrial production prices rose at a record annual rate for the fifth straight month in February, pushed up by soaring energy costs, data from the National Statistics Institute showed. Prices rose 40.7% in February, the highest level since the data series began in January 1976, led by a 114.4% increase in energy costs compared with the same month last year. Companies tend to pass on industrial price rises to customers, fuelling inflation. In recent months, energy prices and inflation have soared in European countries, with Spanish inflation is running at its fastest pace in 35 years. The European Union's southern countries, including Spain, have called for the bloc to adopt common energy policies to face the situation.
Investment idea: sell 1.1010 and take profit 1.0960.
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