The EURUSD finished last week on a positive note providing some upwards momentum for bullish speculators, but plenty of concerns shadow the currency pair-
The EUR/USD produced a rather intriguing range last week as a low of nearly 1.05335 was seen on Monday, and a high near the 1.06920 ratio on Wednesday was demonstrated. will begin this week of trading near the 1.06345 level and speculators should brace for the potential of volatility to develop. The U.S. will be in focus on Fed Chairman Jerome Powell’s testimony to the Senate on Tuesday and then Non-Farm Employment numbers will be published on Friday.
ECB President Lagarde will speak this coming Wednesday, but she is not likely to give many new insights regarding European Central Bank policy at the event she is attending. The EUR/USD experienced a rather consolidated range last week, but its ability to turn in a strong finish on Friday may trigger some speculative contemplation.
A glance at a one-month chart does show the EUR/USD is still within the lower end of its price range. Jerome Powell’s comments this coming Tuesday are certain to cause a fast market and support levels could be tested if his words are hawkish regarding U.S. monetary policy.The start of this week’s trading will give a solid perspective on the amount of nervousness that may exist in the EUR/USD.
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