EUR/USD Yellen Speech Preview
As it's a non farm week markets will historically trade sideways pending the release of Friday. The weekly close below the 61.80% fib indicates further downside gains with a rest of the 200EMA and 50% fib likely.
At this point it's likely price will break or correct at the 50% fib level towards the 76.4% or 38.2% fib levels where it will likely consolidate until Friday.
The news docket features several high impact US releases however on non farm weeks other news tends to have small-medium impact on price action so do expect breakouts on news releases followed by retracement(s) to the previous levels.
A farm rolls preview will follow on Thursday when a clearer picture of market sentiment is available.
At this point it's likely price will break or correct at the 50% fib level towards the 76.4% or 38.2% fib levels where it will likely consolidate until Friday.
The news docket features several high impact US releases however on non farm weeks other news tends to have small-medium impact on price action so do expect breakouts on news releases followed by retracement(s) to the previous levels.
A farm rolls preview will follow on Thursday when a clearer picture of market sentiment is available.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.