EURUSD experienced a decline, reaching the low seen in the previous day after a four-day continuous ascent to 1.1174. This development could indicate a more substantial retracement, particularly if the pair closes below the 1.1098 level today. While there may be some range trading towards higher levels like 1.1140, the risk of a further drop to 1.1079 remains.
Tomorrow, market participants will focus on the week's key event, the Jackson Hole Symposium, where Fed Chair Powell's speech will be closely monitored for any signals regarding a potential 0.50% rate cut in September. Such a dovish stance could trigger a significant decline in the US dollar, providing EURUSD with solid support to break above crucial levels like 1.1174 and potentially target higher levels such as 1.1275 or 1.1335. In the near term, volatility may subside, and EURUSD could consolidate.
Thank you for sharing your insights and engaging. Have a great rest of the trading day! I look forward to our next discussion. See you tomorrow!
Tomorrow, market participants will focus on the week's key event, the Jackson Hole Symposium, where Fed Chair Powell's speech will be closely monitored for any signals regarding a potential 0.50% rate cut in September. Such a dovish stance could trigger a significant decline in the US dollar, providing EURUSD with solid support to break above crucial levels like 1.1174 and potentially target higher levels such as 1.1275 or 1.1335. In the near term, volatility may subside, and EURUSD could consolidate.
Thank you for sharing your insights and engaging. Have a great rest of the trading day! I look forward to our next discussion. See you tomorrow!
Looking for profitable short term trades ...|
{image} _______________________ Vean hacia dónde se mueve el mercado y síganlo.
