EUR/USD ENGAGED IN SHARP MOVES AFTER JERRMY POWELL SPEECH FAVOUR
EUR/USD ENGAGED IN SHARP MOVES AFTER JERRMY POWELL SPEECH FAVOUR THE STOCK MARKET
August 27/2021
The EUR/USD currency pair has been awaiting a highly volatility session as market price eyes 1.18003 the formal resistance level of August 18 2021.
While the forex market participants expect price to hit the first resistance level, more so did the federal Reserve chairman Jeremy Powell speech today also favours the bullish power of the euro.
Many forex traders can however, be wondering regarding where could be the next price point for the EUR/USD pair? This troubling question can get answered by taking a closer look at the market structure in regards to technical analysis.
On the lower time frame such as the 4hr trading duration, it should be noted that price can persist above the 1.8003 level if at all the negative report of fundamental economic news update by Powell speech wins the ground against every other factors that are responsible for affecting market price action.
Furthermore markets participant can trigger the action of bullish power into the market as the price of the pair eyes another new positive level at 1.18813. But for now a little retracement will be welcome in the market as this will aid to balance the differentce between the overbought session of price into a lesser price so that traders can get back into the market a considerable entry price.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
August 27/2021
The EUR/USD currency pair has been awaiting a highly volatility session as market price eyes 1.18003 the formal resistance level of August 18 2021.
While the forex market participants expect price to hit the first resistance level, more so did the federal Reserve chairman Jeremy Powell speech today also favours the bullish power of the euro.
Many forex traders can however, be wondering regarding where could be the next price point for the EUR/USD pair? This troubling question can get answered by taking a closer look at the market structure in regards to technical analysis.
On the lower time frame such as the 4hr trading duration, it should be noted that price can persist above the 1.8003 level if at all the negative report of fundamental economic news update by Powell speech wins the ground against every other factors that are responsible for affecting market price action.
Furthermore markets participant can trigger the action of bullish power into the market as the price of the pair eyes another new positive level at 1.18813. But for now a little retracement will be welcome in the market as this will aid to balance the differentce between the overbought session of price into a lesser price so that traders can get back into the market a considerable entry price.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers: