The EUR/USD pair accelerates on the rise on the Forex with the speech of Yellen.
In fact, Janet Yellen is not talking about everything of monetary policy in his speech at Jackson Hole, but the Dollar drops in the Forex.
The traders who were waiting for a message that is hawkish are disappointed today, and probably this is what weighs on the Dollar currently.
The movement can therefore continue in the very short term, but it could fail to go much further.
EUR/USD has broken first resistance of 1.1825, taking on his way the 1.1850, recording a peak at 1.1866.
However, it will have to hold above 1.1850 to have a chance to review the 1.1890 and potentially 1.1909 before the speech of Draghi at 19h.
An increase more pronounced than that seems unlikely in view of the catalyst behind the movement, but this is not impossible.
The downside, first support comes at 1.1825, and a drop below would negate the pressures upward, immediate, and one could then join the 1.1800 and 1.1775 before the intervention of Draghi.
In the end, Yellen to be surprised by the lack of surprises on the monetary policy, since it simply has not at all referred to the subject, disappointing some expectations of hawkish.
While upward pressures could be maintained during the next few hours, the speech of Draghi at 19h will be more important to allow EUR/USD to regain a steady trend.
The pair EUR/USD is currently trading at 1.1848 on the Forex.
Chart EUR/USD H1
See also our charts EUR/USD in real time.
This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.