In the Tokyo market at the start of the week, the euro rose to 1.1715, the same level as last weekend’s high, but it could not break above and then fell.
When U.S. long-term interest rates rose in the New York market, the euro dropped further to 1.0656 by the close.
With the August 13 high of 1.1730 and yesterday’s high of 1.1715, a “double top” pattern has formed.
The price is expected to test the neckline level of 1.1630.
However, before Fed Chair Powell’s speech at Jackson Hole this weekend, big movements are not expected.
Euro–Dollar forecast range: 1.1630 – 1.1700 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.