Draghi began talking about QE tapering, sending EUR/USD 70 pips to the upside and above resistance at 1.1230. After repeated attempts to break above 1.13 failed, can euro/dollar make the move? A lot depends on his counterpart on the other side of the Atlantic. 1.13 was the swing high around the US elections in November. Earlier in June, the pair pushed higher, stopping at 1.1260 and then at 1.1284. After After US inflation dropped sharply, the pair hit a high of 1.1295. But on the same day, June 14th, the Fed raised rates, and Janet Yellen sounded optimistic about the economy. And Yellen could hold the keys to the move: she speaks later today at 17:00 GMT. The Fed Chair could acknowledge the weakness in US inflation, thus providing a double-whammy for the pair. Most recent US data has been weak: durable goods orders fell more than expected. Her colleagues are quite split: some are worried about low inflation while others such as Dudley are more optimistic. EUR/USD levels After topping the cap of 1.1230, which was resistance in the narrow range, there are no more limits until 1.13. Above 1.13, we are already at levels last seen last year: 1.1360 and 1.1420. Should Yellen go hawkish, 1.1230 is immediate support, followed by 1.1160 and 1.11. All in all, the 1.11 to 1.13 wide range characterizes the pair’s trading after the uptrend stalled. Is it time for a break to the upside? 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. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next EUR/USD > 1.13 – highest since September on the Draghi Yohay Elam 6 years Draghi began talking about QE tapering, sending EUR/USD 70 pips to the upside and above resistance at 1.1230. After repeated attempts to break above 1.13 failed, can euro/dollar make the move? A lot depends on his counterpart on the other side of the Atlantic. 1.13 was the swing high around the US elections in November. Earlier in June, the pair pushed higher, stopping at 1.1260 and then at 1.1284. After After US inflation dropped sharply, the pair hit a high of 1.1295. But on the same day, June 14th, the Fed raised rates, and Janet Yellen sounded optimistic about the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
