The dollar is storming ahead on the FOMC statement and Yellen’s press conference. There was no big news, but the markets snapped every hawkish note, just looking to buy US dollars. As the snowball slides, EUR/USD is falling to a new low. The previous low of 1.2858 has been breached, with 1.2851 the new low at the time of writing. The move is certainly not finished. Here are the next levels to watch: 1.2840 is minor support: it worked as such in the past. 1..28 is already a stronger level, not only because it’s round, but because the pair bounced off this level in the past. 1.2750 served as a double bottom back in 2013 and is also a strong level. Further away, 1.2660 is a level which saw the beginning of the long term uptrend support, which was broken recently but battled upon afterwards. On the topside, we have 1.2920, which was the initial support after the Draghi drag, and 1.2960, which was a weak upper limit within the range, ahead of the all important 1.30 level. For more, see the euro dollar forecast. The euro has reasons to fall. Basically, the central bank in the euro zone is about to expand its balance sheet at the same time that the Fed is stopping its expansion. This is monetary policy convergence. In addition, Draghi explained why EUR/USD should fall. One of the reasons was a tightening Fed. 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 EUR/USD Sep. 18 – Trying to recover from FOMC blow, Yohay Elam 8 years The dollar is storming ahead on the FOMC statement and Yellen's press conference. There was no big news, but the markets snapped every hawkish note, just looking to buy US dollars. As the snowball slides, EUR/USD is falling to a new low. The previous low of 1.2858 has been breached, with 1.2851 the new low at the time of writing. The move is certainly not finished. Here are the next levels to watch: 1.2840 is minor support: it worked as such in the past. 1..28 is already a stronger level, not only because it's round, but because the pair bounced… 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.