EUR/USD continues its recovery after bouncing off low support. If the previous moves were more related to cherry-picking good data and ignoring the weaker figures, now the pair has more substantial reasons to rise. According to a report, the European Central Bank is set to remove its easing bias in the June meeting. The Frankfurt-based Institute will probably upgrade its economic risk assessment. Removing the easing bias is the first step to announcing the end of the QE program. Such a move means that Draghi is dragged into tightening instead of dragging the euro down. The second driver comes from the US data. The Core PCE Price Index slipped once again, this time from 1.6% to 1.5%. While the numbers matched expectations (especially after the weak Core CPI(, it still means that inflation is falling. In turn, the data lowers the chance for a rate hike in June. EUR/USD reached 1.1193 and broke back above resistance at 1.1160. The next level to watch is 1.1266. 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: In The Midst Of Pricing Higher Valuation & Yohay Elam 6 years EUR/USD continues its recovery after bouncing off low support. If the previous moves were more related to cherry-picking good data and ignoring the weaker figures, now the pair has more substantial reasons to rise. According to a report, the European Central Bank is set to remove its easing bias in the June meeting. The Frankfurt-based Institute will probably upgrade its economic risk assessment. Removing the easing bias is the first step to announcing the end of the QE program. Such a move means that Draghi is dragged into tightening instead of dragging the euro down. The second driver comes from… 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.
