EUR/USD ahead of Jackson Hole: towards 1.1865?

Ahead of Jackson Hole Symposium this weekend, EUR/USD has been trading in a slightly bullish tone above the 200 SMA at H1 chart. According to our Fibonacci forecast, the pair has made a rebound above the 50% Fibonacci retracement level at 1.1743 and it’s projected to reach the next target for the short-term at 1.1865 (-23.6%). To the downside, the next key area is located at the 1.1696 level, at which lies the 78.6% Fibonacci retracement zone.

RSI indicator remains pointing to the upside, favoring to the bulls in the short-term at least.

Felipe Erazo

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