EUR/USD just keeps marching on, taking advantage of the weak US dollar, that just keeps on suffering Yellen’s extreme dovishness. By repeating and even taking a further step in seeing the glass as half empty, the Fed Chair sends the US dollar to new lows. For EUR/USD, this means the highest level since October, nearly 6 months, and just before expectations towards the ECB’s meeting in December became huge. Here is how the recent move looks on the chart. The pair made a move above 1.1375, which was the high in mid February. The euro then enjoyed safe haven flows amid the peak of the doom and gloom. Since then, the ECB introduced some stimulus (that backfired), the Fed went dovish, the Fed hawks awakened and now Yellen seems to have the last word, well, at least until tomorrow’s Non-Farm Payrolls. See how to trade the Non-Farm Payrolls with EUR/USD. Why is EUR/USD rising Yellen’s dovishness is the main driver: She said that caution is especially warranted. Weak US jobless claims: The rise from 265K to 276K is not a disaster, but it serves as an excuse to sell the dollar further End of quarter flows: The last minute adjustments seem to be unfavorable for the US dollar Unwillingness to act from the ECB: We heard several comments that the ECB has reached its limits, more or less echoing Draghi. EUR/USD levels EUR/USD is now at the 1.14 handle and the next level is 1.1460. This figure is of importance as it was the peak of the bit euro recovery back in 2015. It is also exactly 1000 pips off the 12 year lows of 1.0460 and later worked as resistance. Further resistance awaits at close by, at the round figure of 1.15. On the way up, 1.1650 served as some support in the past and is the last barrier before 1.1712, the level where the pair stalled in August 2015, when the Chinese stock market crashed. 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 Room for EUR/USD to head down with FX positioning at Tip TV 7 years EUR/USD just keeps marching on, taking advantage of the weak US dollar, that just keeps on suffering Yellen's extreme dovishness. By repeating and even taking a further step in seeing the glass as half empty, the Fed Chair sends the US dollar to new lows. For EUR/USD, this means the highest level since October, nearly 6 months, and just before expectations towards the ECB's meeting in December became huge. Here is how the recent move looks on the chart. The pair made a move above 1.1375, which was the high in mid February. The euro then enjoyed safe haven flows… 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.