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Euro / U.S. Dollar
Updated

EUR/USD Rises Following Fed's Remarks

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Hello everyone, glad to meet you again in today's discussion.

The EURUSD exchange rate is surging, breaking above the 1.1700 mark during the U.S. session last Friday. The U.S. dollar weakened against other major currencies following the dovish remarks made by Fed Chair Jerome Powell at the Jackson Hole symposium, which helped fuel the rise of this currency pair.

Looking ahead, I expect the pair to break through the upper trendline and close higher in this region, setting up for a larger rally as outlined in the strategy on the chart.

Do you agree with this outlook? Feel free to share your thoughts.
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