EUR/USD remains volatile around 1.08955 ahead of the Jackson Hole symposium in the US later this week, where central bankers from around the world will gather to discuss policies that are bound to express their views. Traders should be cautious this week and use risk management techniques when trading EUR/USD.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the low-level bulls keeps oscillating and moving up, short-term bullish sentiment emerges, the market bulls are constantly moving upwards, the MACD indicator is in the bearish area and keeps oscillating upwards, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 1.09084 1.09227
Support levels: 1.08746 1.08625
Trading strategy: Bullish above 1.08878, target 1.09084 1.09227
Alternative strategy: bearish below 1.08878, target 1.08746 1.08625