EUR/USD continues its slide following fresh determined dovish words of ECB president Mario Draghi. The pair that traded just below resistance at 1.2570 earlier in the day is extending its falls and isn’t far from completing a slide of 200 pips from the peak on the day. Looking at the daily chart, we can actually see that the pair basically bounced off downtrend resistance, mentioned in the EUR/$ weekly outlook: In this fall, the pair reached the lowest levels since 2012 earlier in the month at 1.2358. However, at that time it closed well above these levels. It is now on the way to close below them. Further support below 1.2360 awaits at 1.2320 with much more serious support at 1.2250. On the topside, 1.2440 could offer weak resistance before the very round number of 1.25. How low can the pair go? Next week’s inflation data could provide a clue. More: EUR/USD: One More Leg Lower Before Flattening-Out In Dec – Citi 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 USDCHF: Reverses Losses, Eyes The 0.9741 Level FX Tech Strategy 7 years EUR/USD continues its slide following fresh determined dovish words of ECB president Mario Draghi. The pair that traded just below resistance at 1.2570 earlier in the day is extending its falls and isn't far from completing a slide of 200 pips from the peak on the day. Looking at the daily chart, we can actually see that the pair basically bounced off downtrend resistance, mentioned in the EUR/$ weekly outlook: In this fall, the pair reached the lowest levels since 2012 earlier in the month at 1.2358. However, at that time it closed well above these levels. It is now… 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.
