The ongoing speculation about the next move of the ECB is taking its toll on the common currency. In a move unrelated to the US dollar’s trading against other currencies, EUR/USD is falling. The less than impressive money supply and loan figures certainly did not help. The pair extended earlier falls and is now trading below the double bottom line that was formed after recent ECB remarks. Here is how the dip looks on the 30 minute chart. Note the double bottom line at 1.3750: Support lies at 1.3650 if this break is confirmed. Resistance awaits at 1.38. For more on the euro, see the  euro to dollar forecast. Euro-zone M3 money supply accelerated to 1.3% as expected in February. This is stronger than 1.2% seen beforehand but still reflects a very weak economy. In addition, the level of private loans fell by 2.2% year over year, worse than 2.1% in the previous month. Draghi may claim that the credit crunch is related to the banks’ stress tests, but the problem seems deeper. Will the ECB act in a week from now? See how to trade the US pending home sales with EUR/USD. 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 Exceptions to the rules FxPro - Forex Broker 8 years The ongoing speculation about the next move of the ECB is taking its toll on the common currency. In a move unrelated to the US dollar's trading against other currencies, EUR/USD is falling. The less than impressive money supply and loan figures certainly did not help. The pair extended earlier falls and is now trading below the double bottom line that was formed after recent ECB remarks. Here is how the dip looks on the 30 minute chart. Note the double bottom line at 1.3750: Support lies at 1.3650 if this break is confirmed. Resistance awaits at 1.38. For more… 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.
