EUR/USD
short-term bullish pressures are slowing down. Down trend resistance is
located at 1.1816. Hourly resistance can be found at 1.1910 (02/08/2017
high) while hourly support lies at 1.1613 (26/07/2017 low). Expected to
show renewed bearish pressures.
In the longer term, the momentum is now turning largely positive. We
favour a continued bullish bias. Key resistance holding at 1.1871
(24/08/2015 high) has been broken while strong support lies at 1.0341
(03/01/2017 low).
Today major event is Jackson Hole Symposium event and ECB President Mario Draghi speech and FED Chair Jennet Yellen.
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