EUR - BULLISH 1️⃣ Investors focused on the prospect of a strong economic recovery, despite the uncertainty around rising infection rates and the slow rollout of vaccines.
USD - BEARISH 1️⃣ The US dollar declined amid optimism over a stronger global growth and a dovish stance from the Fed. Last FOMC minutes showed the Federal Reserve would not taper anytime soon and downplayed inflation risks and high Treasury yields while seeing the economy strengthening. Meanwhile, the IMF raised global growth forecasts to 6% from 5.2% this year, citing additional fiscal support.
===== Technical =====
We are looking to buy the EURUSD at RBS + above SMA 50 on the H1 chart.
===== Risk to this trade =====
Any change in sentiment could turn the pair's direction.