Forex Flash: EUR/USD should accelerate lower with a break below Friday's close - TD Securities

FXstreet.com (San Francisco) - The Euro has been trading above 1.2500 level against the Dollar throughout the Monday session. With a intra-day high at 1.2535 and low of 1.2490, the EURUSD is trading 0.08 below opening price action. EURUSD is quiet ahead Jackson Hole.

"The marquee event this week will be Bernanke's speech at the Jackson Hole conference on Friday, and with swirling expectations of Fed easing, that should be the biggest theme for the balance of the week," comment Shaun Osborne and Greg Moore TD Securities analysts.

"The EUR had as quiet of a session as the rest of the majors overnight," continue TD's analysts. "In the near term that should continue to be the case, but as mentioned we will be watching central bank speakers for more inspiration."

In the short term, "EURUSD should accelerate lower with a break below Friday's close near 1.2480," continued TDS. "On the top side, 1.2590/1.2600 is spotted as a strong resistance level."