Based on FIB-Retracement and the current Trend Line, I see more room for EUR/USD to rise.
A retracement to 1.17500 is possible and also 1.17 is still in play but this is needed for EUR/USD to go long again.
Also, tomorrow is the Jackson Hole Economic Symposium with the following key points:
- When the FED chooses to raise the inflation above 2%, this will cause a devaluation of the Dollar against other major currencies.
- When the interest rate will stay low, people will buy more precious metals causing the DXY to decline. This has happened in the past before.
Let me know what you think in the comments.
A retracement to 1.17500 is possible and also 1.17 is still in play but this is needed for EUR/USD to go long again.
Also, tomorrow is the Jackson Hole Economic Symposium with the following key points:
- When the FED chooses to raise the inflation above 2%, this will cause a devaluation of the Dollar against other major currencies.
- When the interest rate will stay low, people will buy more precious metals causing the DXY to decline. This has happened in the past before.
Let me know what you think in the comments.