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EUR/USD dips below 1.06 – Still has room to fall

A new day, a new round number falls, and the pace seems to be accelerating. After  EUR/USD lost 1.07 in the Asian session, it continued lower on Draghi’s speech.

The latest dip sends it below 1.06 and the low so far is 1.0593. As we noted before,  real support below 1.0760 is only at 1.05.

The president of the ECB said nothing really new, but it didn’t really matter.

The determination to push forward with QE and the  re-iteration that the better forecasts depend on the full implementation of the  measures – the bond buying  program.

The central bank began buying bonds on Monday and made clear that it is going well. Bond yields have continued falling across the currency union, with Greece being the exception.

And Greece is another issue weighing on the euro.

Here are a few opinions:

In the fresh podcast, we talk about the US economy,  the Australian and Canadian rate decisions, a potential easing in Japan, the widening gap within oil prices and an update on forex brokers after the SNBomb

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.