EUR/USD is playing with the critical 1.2624 line – this was the previous 2012 low, set in January. The background is the hope for a smooth bailout for Spanish banks and hopes that Bernanke will provide a clear hint for QE3 in his testimony. Could it be a “buy the rumor sell the fact event”? EUR USD at critical resistance - Click image to enlarge US long term yields are very low, and buying more bonds with newly printed dollars will not help. However, with the situation in Europe worsening and an urge for the Fed to “do something” in the absence of political leadership everywhere in the globe, Bernanke could supply a hint about easing for the June 20th meeting – right after the Greek elections. The pair broke under 1.2624 in May, this line was a clear separator. The pair went as low as 1.2288 before beginning a nice recovery. A convincing climb above 1.2624 is a bullish sign. For more, see the EURUSD forecast. Update: the pair didn’t really break this level yet, but rather retreated back before the statement. 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 Falls as Bernanke Doesn’t Provide QE3 Hints Yohay Elam 9 years EUR/USD is playing with the critical 1.2624 line - this was the previous 2012 low, set in January. The background is the hope for a smooth bailout for Spanish banks and hopes that Bernanke will provide a clear hint for QE3 in his testimony. Could it be a "buy the rumor sell the fact event"? [caption id="attachment_36059" align="alignnone" width="610" caption="EUR USD at critical resistance - Click image to enlarge"][/caption] US long term yields are very low, and buying more bonds with newly printed dollars will not help. However, with the situation in Europe worsening and an urge for the Fed… Top 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.
