EUR/USD is down, trading in the lower range respecting the previous support line as resistance. No major events have rocked markets as some countries are on holiday, but we got a reminder that outright QE is certainly an option for the ECB. Can the pair challenge low support on thin volume? Here’s a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair attempted to recover, but was blocked by 1.2440… Current range: 1.2360 to 1.2440. Further levels in both directions: Below: 1.2360, 1.2250, 1.2140, 1.2042. Above: 1.2440, 1.25, 1.2570, 1.2620 and 1.2660 1.2440 is a perfect separator, now back to resistance. 1.2360 is the multi-year low. EUR/USD Fundamentals 12:30 US NFIB Small Business Index. Exp. 95.1 points. * All times are GMT. For more events and lines, see the Euro to dollar forecast. EUR/USD Sentiment Reminder of EZ QE: European Central Bank member Mersch said that sovereign QE is still an option if the situation deteriorates. Maybe the Germans don’t like to hear this, but such words keep the pressure on the euro and this helps battle deflation. Holiday in the US: It’s November 11th. In the US it’s Veteran’s Day and in Canada it’s Remembrance Day. This means a quiet US session. Thin volume can lead to boredom but also to erratic moves. Mixed Non-Farm Payrolls: The headline number disappointed with a gain of only 214K jobs in October. However, significant upwards revisions, a falling unemployment rate and a higher participation rate all countered the headline figure but were unable to balance the headline. It seems that profit taking was in place on Friday and follows today, after a nice run of the greenback. More: EUR/USD Reversal: What Does It Take? – Nordea Determined Draghi: ECB president Mario reasserted his leadership by bringing forward a unified message about readiness to do more to battle low inflation, as the euro-zone faces a potential third recession. The commitment to bring the balance sheet towards the 2012 levels has now entered the introductory statement, and that in turn was signed unanimously by all ECB members. This put to an end the reported discontent within the bank.. More: Draghi Did It Again; EUR/USD En-Route To 1.20 – Danske, and also Expect Draghi To Prevail; Staying Short EUR/USD targeting 1.18 – BNPP. Euro-zone GDP eyed: Did Germany slip into a recession? While official expectations stand on growth in Q3 after a contraction in Q2, there is no clear consensus. Friday’s GDP numbers from the various member states as well as from the euro-zone as a whole are keeping investors nervous. In our latest podcast, we preview the NFP, run down the ECB, talk about the huge Japanese move, preview the UK and also talk about Brazil: Download it directly here. Subscribe to our podcast on iTunes. 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 EUR/USD DailyForex News Today: Daily Trading News share Read Next EUR/USD: A Buy On Dips; We Stay Long – Credit Agricole Yohay Elam 7 years EUR/USD is down, trading in the lower range respecting the previous support line as resistance. No major events have rocked markets as some countries are on holiday, but we got a reminder that outright QE is certainly an option for the ECB. Can the pair challenge low support on thin volume? Here's a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair attempted to recover, but was blocked by 1.2440... Current range: 1.2360 to 1.2440. Further levels in both directions: Below: 1.2360, 1.2250, 1.2140, 1.2042. Above: 1.2440, 1.25, 1.2570, 1.2620 and 1.2660 1.2440 is… 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.