EUR/USD is hugging the 1.25 level, rising from the lows seen early in the week and currently unable to pick a new direction. US data was good so far this week ahead of the Non-Farm Payrolls while Spanish jobless claims disappointment. Before that, we have midterm elections in the US and some other important data. Will we see a downwards move ahead of the big events? It is certainly possible. Here’s a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair managed to crawl back above 1.25. Current range: 1.25 to 1.2570. Further levels in both directions: Below: 1.25, 1.2440, 1.2360, 1.2250. Above: 1.2570, 1.2620, 1.2660, 1.2750. 1.2440 is an old line and also the recent low, making it key support. 1.2660 is strong resistance now. EUR/USD Fundamentals 8:00 Spanish Unemployment Change. Exp. 23.4K, actual 79.2K. 10:00 EU Economic Forecasts 10:00 Euro-zone PPI. Exp. 0%. 13:30 US Trade Balance. Exp. -40 billion. 15:00 US Factory Orders. Exp. -0.4%. 15:00 US IBD/TIPP Economic Optimism. Exp. 46.3 points. * All times are GMT. For more events and lines, see the Euro to dollar forecast. EUR/USD Sentiment Midterm elections: All House seats and a third of the Senate seats are up for grabs. The House is expected to remain in Republican hands while the Senate majority could also shift from Democrats to Republicans. In the current political atmosphere, there seems to be little chance the new composition of Congress will be able to push reforms. Nevertheless, these elections are set to impact markets. ECB eyed: The European Central Bank convenes on Thursday on the backdrop of ongoing weak inflation, despite a weaker euro, and it’s not only oil prices. Will Draghi hint about more aggressive steps? There is speculation about outright QE or buying corporate bonds, but both seem unlikely. A vague hint about a “massive” or “sizable” expansion could do the job. Hawkish Fed: The Fed ended QE and also sounded quite bullish about employment, acknowledging “solid job gains”. In addition, Yellen and her colleagues were not too worried about inflation and there was one dovish dissenter for a change. All this supported the greenback. Strong US data: GDP grew at an annual level of 3.5% in the US, better than expectations. While the internal components did not shine, the general picture is positive and this notion strengthened with a beat in the ISM Manufacturing PMI, the first hint towards the NFP. Tomorrow we get ADP and the services sector PMI. In our latest podcast, we review November’s big event and run down the recent ones: 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 USD/CAD at new 5 year high as oil prices dig Yohay Elam 7 years EUR/USD is hugging the 1.25 level, rising from the lows seen early in the week and currently unable to pick a new direction. US data was good so far this week ahead of the Non-Farm Payrolls while Spanish jobless claims disappointment. Before that, we have midterm elections in the US and some other important data. Will we see a downwards move ahead of the big events? It is certainly possible. Here's a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair managed to crawl back above 1.25. Current range: 1.25 to 1.2570. Further levels in… 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.