Elliot_Myers

EUR/USD Yellen Speech Preview

FX:EURUSD   Euro Fx/U.S. Dollar
As it's a non farm week markets will historically trade sideways pending the release of Friday. The weekly close below the 61.80% fib indicates further downside gains with a rest of the 200EMA and 50% fib likely.

At this point it's likely price will break or correct at the 50% fib level towards the 76.4% or 38.2% fib levels where it will likely consolidate until Friday.

The news docket features several high impact US releases however on non farm weeks other news tends to have small-medium impact on price action so do expect breakouts on news releases followed by retracement(s) to the previous levels.

A farm rolls preview will follow on Thursday when a clearer picture of market sentiment is available.
DarkTradingFx
8 months ago
very nice... im short for now
Reply
Elliot_Myers DarkTradingFx
8 months ago
Thank you. I am waiting for price to hit the 50% fib as you never know with a non farm week, all the best with your trade!
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