EUR / USD is in a narrow range around 1.18, with attention to Draghi
EUR / USD is in a narrow range around 1.18, with attention to Draghi
Mario Draghi
Mario Draghi

The parity continues to be horizontal, ahead of Fed President Janet Yellen and European Central Bank President Mario Draghi‘s impatiently expected speeches at the Jackson Hole Symposium.

TD Securities analysts, “Those who expect Draghi to announce a tapering at Jackson Hole this week may be disappointed. Looking at open markets, the frustrations may be reflected in the EUR / USD downward. ”

Market participants on the USD side will closely monitor the Fed’s clues on possible future steps, through Fed Chairman Janet Yellen‘s talk.

On the data front, while the German IFO survey is expected, orders for durable consumer goods orders from the US are expected.
The EUR / USD pair is currently trading at 1.1794 with a loss of 0.05%.

Significant technical levels for EUR / USD
1.1661 (August 17 bottom), 1.1657 (5-month upward trend) and 1.1611 (July 26 bottom), resistance to 1.1830 (August 21 summit), 1.1846 (August 11 summit) and 1.1894 (August 3 summit).

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