Last week, Powell delivered a speech titled "Economic Outlook" at the Jackson Hole Central Bank Annual Meeting. His cautious remarks significantly pressured the USD index, and the USD and U.S. bond yields also showed a weakness. This caused Euro to return to above 1.800. The continued fermentation of major international events such as the spread of the Delta variant virus and the political instability in Afghanistan will bring major changes to the foreign exchange market.
From a technical point of view, Euro showed an overall upward trend last week, and closed bullish at the end. On the daily graph, it can be seen that up till Thursday, the market faces resistance and is under correction. On Friday, EURUSD first fell and then rose and broke the week's high. H4 graph shows formation of a complete pattern, breaking through the previous trend line, BOLL is opening, and the moving average shows strengthening and formation of Golden Cross. Overall prioritize buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1800.
Resistance：1.1830-1.1850-1.1880
Support：1.1775-1.1750-1.1730
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