EUR/USD - Overview from 22.08.2024

The Euro has reached its highest level this year against the US Dollar, emerging victorious amid global market fluctuations. However, this success could be temporary. The EUR/USD pair has achieved a previously described target in the region of 1.1140. It is necessary to monitor the price dynamics in the achieved zone. As long as the quotations are below the range of 1.1200 - 1.1270, the possibility of a decline is quite high.

Also, attention is drawn to the fact that the end of the week could be volatile. Market attention is focused on data concerning unemployment benefit claims and other indicators published on Thursday, as well as the speech of Federal Reserve Chairman Powell on Friday.