27.08.2020
The pair is consolidating in the range of 1.1770–1.1850 ahead of Jerome Powell’s speech at Jackson Hole symposium. If he indicates that the regulator will shift its inflation targets to “average”, this may support the US dollar. However, if he doesn’t report anything new about the Fed’s monetary policy plans, the dollar will weaken.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is at a level of 50%. Stoch are in the overbought zone.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
Negative factors for the dollar will drive the pair up to 1.1880, and then to 1.1965. In the opposite scenario, the price will fall to 1.1700.
Thank you for subscribing to our analytics
You already subscribed
Don't have your language?
