While the interest rate cut by the ECB to 0.75% was widely expected, the elimination of the deposit rate to 0% was a shocker that sent the euro plunging across the board. Apart from the near 100 pip plunge in EUR/USD, it’s important to note two interesting pairs – one that moved to historic lows and one that could explode. Update: Follow the live blog of the ECB press conference. EUR/AUD is trading at 1.2078, below lows seen earlier in the year. It is now in the lowest levels since February 1989 (taking the Deutschmark into consideration). EUR AUD 23 Year Low – Monthly Chart – Click image to enlarge EUR/CHF is guarded by the Swiss National Bank at 1.20. The SNB reiterated its stance from September 2011 to buy “unlimited amounts of foreign currency”. But how long can it hold on? There are many speculators who are waiting for the levee to break. If 1.20 breaks, it will be a fast ride down, of hundreds of pips. 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 Forex News Today: Daily Trading News share Read Next ADP Non-Farm Payrolls: +176K – Good Jobs News for a Yohay Elam 11 years While the interest rate cut by the ECB to 0.75% was widely expected, the elimination of the deposit rate to 0% was a shocker that sent the euro plunging across the board. Apart from the near 100 pip plunge in EUR/USD, it's important to note two interesting pairs - one that moved to historic lows and one that could explode. Update: Follow the live blog of the ECB press conference. EUR/AUD is trading at 1.2078, below lows seen earlier in the year. It is now in the lowest levels since February 1989 (taking the Deutschmark into consideration). [caption id="attachment_36581"… 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.
