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Forex pairs in this Article » EUR/USD (Barcelona) - The bloc currency is extending the congestion pattern delimited by 1.3315 and 1.3350 on Thursday, as safe havens inflows continues to prevail among traders.

Currency Analyst Christopher Vecchio at DailyFX has criticized the politicians' inaction and lack of attitude towards these last GDP figures, kicking the can down the road towards the ECB as the unique saviour of the euro zone. "While this is a burden that they undertook by promising to do "whatever it takes" to save the Euro, it now means that calls for an interest rate cut are likely to increase in the coming week. Until there is further policy clarification from President Mario Draghi, there will be an inherent underlying dovish push against the Euro in this regard. This should at least counterbalance any upside afforded by the LTRO repayments coming in", signalled the expert.

At the moment, the cross is down 0.87% at 1.3335 facing the next support at 1.3300 (psychological level) en route to 1.3265 (low Jan.23) and then 1.3251 (Lower Bollinger).
On the flip side, a break above 1.3442 (MA21d) would bring 1.3472 (MA10d) and finally 1.3520 (high Feb13).
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