It’s another busy week ahead, with FED Chair Powell testimony and U.S nonfarms in focus. COVID-19 news updates, however, will likely continue to be the key driver.
The Euro has broken down significantly during the course of the trading week but saw an explosive move on Friday as it looks like we are trying to have a major bounce.
The Euro has bounced significantly during the trading session on Friday as low liquidity probably had a lot to do with what we are seeing here. Nonetheless, it appears that the market is ready to go racing towards the 1.14 level above, an area that I think will end up being significant resistance.