EURUSD After Speech Retrace 08.03.2023

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EURUSD After Speech Retrace 08.03.2023 by BDSwiss_Academy on

EURUSD has fallen heavily yesterday, an obvious shock from the Federal Reserve Chairman Jerome Powell speech at 17:00 GMT+2

“Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated”

This gives rise to retracement opportunity. However, this has to be treated with caution since there is still room for the pair to further continue
the downward path.

News Today that might cause a distortion in the Fibo retracement analysis (GMT+2):
– BOC Rate Statement for Canada at 17:00

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