EUR/USD continues being pressured to the downside and is now seeing new lows. The low so far is 1.1559, which is only a few pips under yesterday’s swing lows, but the pressure continues and we can certainly expect more pressure. What’s behind the fall? It’s not only the absence of the 1.20 floor under EUR/CHF. Here are 4 reasons for the fall: ECB talk: Benoit Coeure, an ECB member, said that “for QE to be efficient, it would have to be big”. He also said that while the risk of deflation is low, low inflation is bad enough. He joins Visco, Nowotny and Draghi in strong statements about QE. Lower core inflation: We already knew that we had a y/y drop in prices because of oil, but there was a small silver lining of core inflation edging up. The final read for EZ core inflation saw a downgrade from 0.8% to 0.7%. This is the same low level seen beforehand: no improvement here. OK US data: The United States reported higher than expected headline inflation and slightly lower than expected core inflation. Also industrial output came out as expected. Update: now we already have good US data: consumer confidence jumped to 98..2, and that’s giving the pair another push down. SNBomb: The shocking removal of the 1.20 floor under EUR/CHF seen yesterday still hurts the euro. The Swiss National Bank was basically alone on the euro bid. Now there’s nobody. Update: the move extends down with the new low now at 1.1543. Update: EUR/USD < 1.15 – surrenders to huge pressure and trips stops More: EUR/USD falls to the lowest since November 2003 – guide to the next big levels And here is how it looks on the 30 minute chart: 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 Switzerland Goes Emmental Karl Schamotta 8 years EUR/USD continues being pressured to the downside and is now seeing new lows. The low so far is 1.1559, which is only a few pips under yesterday's swing lows, but the pressure continues and we can certainly expect more pressure. What's behind the fall? It's not only the absence of the 1.20 floor under EUR/CHF. Here are 4 reasons for the fall: ECB talk: Benoit Coeure, an ECB member, said that "for QE to be efficient, it would have to be big". He also said that while the risk of deflation is low, low inflation is bad enough. He joins… 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.