The EURUSD touched a high of nearly 1.07010 on Friday but finished went into the weekend around the 1.06385 ratios- trading forextrading
Get DailyForex analysis to your emailThe EUR/USD packed plenty of volatility last week regarding its trading results, and it is likely the rollercoaster ride for the currency pair is not finished.touched a high of nearly 1.07010 on Friday but finished went into the weekend around the 1.06385 ratios.
News broke late on Friday that Silicon Valley Bank in California had not only stumbled but that the financial institution was nearly insolvent. The potential of a bankrupt financial institution in the heart of California’s tech industry caused behavioral sentiment to go wild and caused bedlam in the broad markets, including Forex and the EUR/USD.
Traders should be braced for the potential of heightened nervousness on Monday and Tuesday. It is likely the U.S government will comment on the Silicon Valley Bank crisis and try to calm markets. . Traders should have all of their risk management tools ready to use this coming week. Having seen lows near the 1.05250 only a few days ago, traders should consider the potential that supports levels could once again prove vulnerable if the Federal Reserve remains hawkish and inflation data this coming Wednesday remains stubborn.
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