Filed Under:
Forex pairs in this Article » EUR/USD (Chicago) - EUR/USD continues trading around 1.3350 zone after swinging back and forth on impulsive market reaction post FOMC minutes.

Manufacturing Data and Jackson Hole Symposium

Europe is releasing manufacturing data later today along sales and PMIs due in Italy, Germany and France. In the US, the Jackson Hole Symposium starts on Thursday, gathering central bankers and policy experts in Kansas. Ahead of Asia’s opening, the sentiment remains uncertain as Wall Street closed with losses after impulsive rally as investors and speculators weighted potential conclusions from the FOMC remarks. The timing for stimulus changes was considered “not appropriate” by the majority of the members, leaving no clear clues on what to expect from the Fed’s tapering.

EUR/USD Technical Levels

Technically speaking, the pair trades at 1.3353 between supports at 1.3335 (daily low) and 1.3325 (Aug 20 low/200-hour SMA) ahead of 1.3300 (psychological level) and resistances set at 1.3427 (Aug 21 high) ahead of 1.3451 (Aug 20 high) and 1.3455 (Feb 14 high). According to the trend index, the pair is slightly bearish on one-hour timeframe analysis.
comments powered by Disqus