Last week the supply failed and the lower limit of bullish regression channel was defended. After that, since last Thursday EURUSD has been continuing upward movement. Yesterday 1.1380 level stopped the price growth. However withdrawal wasn’t deep and in nearest future another attempt of breakout 1.1380 level should occur.
Today at 4 pm there will be an important macroeconomic event. FED’s chair testifies before the Congress to explain the current economic situation and the policies applied to improve it. EURUSD is responsive to FED, due to this we must expect higher volatility on the market. The main scenario for EURUSD is the return above 1.1380 and movement in to the direction of 1.1490.
It has to be noted that each forecast should not exceed next Thursday. Because, the Brexit vote may cause much higher volatility that no one can predict.
YOU CAN START TRADING ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
