EUR/USD pair is falling – mainly on the wave of the USD strengthening. After three days of declines we are approx. 115 pips lower, below the 1.3300 level. Currently the last bulls bastion (1.3290 – November 2013 low) is dynamically attacked and it is hard to forecast where the price can reach. Pivot Points may provide some help here – especially S3 level at 1.3250 (mid-September 2013 lows). Gigantic sale on EUR/USD dates back to May where price ineffectively attacked 1.40 level – since then pair fell around 700 pips!

At that time we also saw a significant change in the European Central Bank attitude – ECB started further loosening of its monetary policy. Currently, weak economic data – especially in Germany – are further discouraging investors when it comes to single currency.

Markets still await for today’s FOMC minutes (20:00CET). We may find that after recent hawkish statements, the Committee general attitude also has changed. 


XM_artykulThe above analysis is one in a series of analyzes prepared by Comparic team in collaboration with XM broker. Other analyzes can be found every day on XM’s siteOpen real XM account or try DEMO version for free. Promotion – 30% bonus up to $10,000!

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