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The market is looking towards the Jackson Hole

The market is looking towards the Jackson Hole | 20 August 2021

20 August 2021, EUR/USD

EURUSD trading plan:

Ongoing uncertainty caused by rising COVID-19 cases globally and the relentless spread of the Delta variant should be supportive for gold, which tends to rise in periods of uncertainty. This is a positive signal for the European currency, since assets are correlated with each other. U.S. Federal Reserve could begin easing stimulus this year, as minutes from its July meeting seemed to suggest. The market is now looking towards the Jackson Hole meeting of central bankers on Aug. 26-28 for further clues as to the Fed’s direction. This is a positive signal for the dollar.

Investment idea: range 1.1625 -1.1720.

David Johnson
Analyst of «FreshForex» company
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