EUR/USD reverses the move, and goes back home

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3530, posted session high at 1.3545, but reversed the move, and is on the way to the recent lows now.



QE is on the table



The single currency is depressed the third day in a row, as the markets start to realize the ECB is on the way to more stimulus. The recent comments from a council official suggests that the quantitative easing is already in discussion, and if we get more comments from the ECB members on the issue, the break out below 1.35 level may become a reality. However, for now the pair hesitates around 1.3530 area, and the looming data from the EMU will hardly change the market sentiment.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3537, with support below at 1.3516, 1.3500 and 1.3479, with resistance above at 1.3553, 1.3574, and 1.3590. Hourly Moving Averages are bullish, with the 200SMA at 1.3548 and the daily 20EMA at 1.3639. Hourly RSI is bullish at 74.



You May Also Like

Related Forex Analysis
  1. Forex News

    US session recap: USD index and stocks rally for record highs

  2. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  3. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

  4. Forex News

    Euro Struggles Ahead of Greek Election- USD/CAD Carves Lower Highs

  5. Forex News

    EUR/USD hits fresh 2014 lows

Trading Center