Economic Calendar
| Time | Currency | Impact | Description | Previous | Forecast | Actual |
| 3:00 PM | EUR | Medium | M3 Money Supply y/y | 5.0% | 4.9% | |
| EUR | Low | Prívate Loans y/y | 2.6% | 2.7% |
News
Topic: Draghi to also disappoint, where could the euro end up?
- EUR is bid post Yellen’s speech and all eyes are on ECB President Draghi’s Jackson Hole speech up next, but markets are already wondering if he will now follow Yellen’s reluctance to show any of her ‘hand’ to markets today.
- The ECB’s tapering discussion has been shifted to the October 26 meeting and Draghi’s most recent press conference highlighted a need for patience, persistence, and prudence in policy as a result of subdued inflation pressure. Euro area bond yields are climbing into Draghi’s speech, lending EUR some modest support. Risk reversals retain a moderately bullish bias, added the analysts at Scotiabank.
REFERENCE: https://www.fxstreet.com/news/draghi-to-also-disappoint-where-could-the-euro-end-up-201708251533
Technical Chart-H4
Support & Resistant
| Resistant | Pivot | Support |
| R1: 1.1983 |
1.1877 |
S1: 1.1815 |
| R2: 1.2045 | S2: 1.1706 | |
| R3: 1.2150 | S3: 1.1647 |
Main Scenario : Alternative Scenario :
Recommendation SELL Recommendation BUY
Entry Point 1.1900 Entry Point 1.1877
Take Profit ($300-$500) Take Profit ($300-$500)
Stop Loss $300 Stop Loss $300
