The EUR/USD pair has been at the center of attention since last week. Investors were expecting that Powell's statements at the Jackson Hole’s Symposium could bring high volatility to the markets. However, the statements ended up having a limited impact on the markets.
Nevertheless, several important economic data points about the American and European economies will be revealed this week. As a result, the EUR/USD pair is likely to be exposed to periods of increased volatility.
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4 hours Time Frame Chart. Source: xStation 5
If we look at the chart, we can observe that the price continues to adhere to the lower boundary of the chart pattern, along with the Fibonacci levels at 78.6%.
Henrique Tomé,
Analyst Portugal
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