18 July 2023, EUR/USD
EURUSD trading plan:
Since the Federal Reserve decided to keep interest rates on hold at its June 13-14 policy meeting, U.S. central bank officials have given every indication they are ready to approve another small rate increase when they gather again next week. Officials' rhetoric has leaned towards further hikes beyond the July 25-26 meeting, when the Fed's policy-setting committee is expected to raise the benchmark overnight interest rate by a quarter of a percentage point to the 5.25%-5.50% range. Fed Chair Jerome Powell has noted the majority view that two additional rate increases would be needed, and Governor Christopher Waller made the case for tighter policy in the central bank leadership's final remarks before the blackout on public comments ahead of this month's meeting.
Investment idea: sell 1.1245 and take profit 1.1170.
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