Technical Outlook EURUSD 25.08.2017- Updated

Technical Outlook EURUSD 25.08.2017- Updated

EURUSD jumps after the greenback was hurt by Yellen; focus turns to Mario Draghi’s speech

The Euro was inflated after Fed chief Janet Yellen stayed quiet about the hottest points, monetary policy and start of winding down its massive balance sheet in her Jackson Hole speech.
Mainly expected outcome hurt the greenback, as traders were hoping Yellen would provide some hints about Fed’s intensions in the coming meetings.
The single currency has eventually broken strong obstacles at 1.1828/46 (former highs) and turned focus towards barriers at 1.1900 zone.
Fresh rally has improved near-term outlook and for now neutralized downside risk that was rising in recent congestion and inability to break higher.
Rally may show signs of hesitation ahead of key barrier at 1.1910, with focus turning towards the speech of Mario Draghi, scheduled later today.
It is quite likely that Draghi will stick to the theme of symposium and avoid to talk about policy and QE program easing, which may disappoint fresh bulls.

Res: 1.1889; 1.1910; 1.1950; 1.2000
Sup: 1.1846; 1.1828; 1.1800; 1.1770