Bernanke Speaks Friday before Labor Day
While the Equity markets are riding a roller coaster - the currency markets are also showing some nice volatility. Ben Bernanke is scheduled to speak at the end of the week that is typically considered a holiday before the Labor Day holiday. As always - I caution FX traders and traders of all markets to be vigilant around US holidays, as volatility can spike and potential trend reversals can take place during these times.
A Look at the Charts
The Euro appears to be in a nice channel on the Daily Chart below and the Fibonacci levels from the high of April 30 to the low of June 13 seems to be holding support and resistance quite nicely.
Live Coverage of US GDP Report Tomorrow
Note: I will be doing a Free Webcast covering this weeks US GDP Report on FX Street. The broadcast begins at 11:30 GMT (7:30am EST) Click Here to Register for this Educational and Technical Analysis Session
Jerry Furst is an active trader, educator and Founder of Investors Education Network (IEN), he is also a mentor and trading coach to select clients.
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