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EURUSD - Rests on Support at 1.10 as President Lagarde Calls for New Policy

 

 
In the last week the EURUSD has fallen again back down to one of the current key levels of 1.10 after threatening to break through the 1.11 level, only to meet stiff resistance there. It made another strong rally off the 1.10 level back to 1.11, after falling sharply from near several month highs close to 1.12. The 1.10 level has now provided strong support in the last two weeks propping the currency pair up after the fall to start the month. It will be interesting to see if this support can continue to stand tall and maintain the current range.
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EURUSD - Resistance at 1.11 Stands Tall after ECB Minutes

 

 
In the last few days the resistance at 1.11 has fended off a strong rally in the EURUSD pushing it lower and keeping it within the range between 1.10 and 1.11. It made the rally off equally strong support at 1.10 after the EURUSD fell sharply from near several month highs close to 1.12 down to a one month low just below 1.10. The 1.10 level provided support propping up the currency pair after the fall and is likely to do so again if called upon shortly.
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EURUSD - Settles above 1.11 as Doubts Raised over Negative Rates

 

 
In the last week the EURUSD has rallied well again back above the key 1.11 level however just settled a little feeling some selling pressure from near 1.12. A few weeks the EURUSD surged higher to its highest levels in more than seven weeks pushing it through the key 1.11 level, before easing back below. Most of the levels including 1.10, 1.11 and 1.12 have played a significant role in the last six months or alternating between providing support and resistance.
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EURUSD - Eases Back towards Key 1.11 Level as ECB Holds on Rates

 

 
In the last week or so the EURUSD has eased back to the key 1.11 level which has played a significant role in recent price history. This easing was on the back of a strong surge higher which saw the EURUSD reach its highest levels in more than seven weeks including a strong surge in the last few days which pushed it through the key 1.11 level. Last month the EURUSD was applying pressure and threatening to break through the key 1.11 level for two weeks, which offered strong resistance in this period, which is why the recent break is significant and may see the 1.11 level offer some support.
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EURUSD - Remains Below Key 1.11 as ECB Cuts and Restores QE

 

 
In a very volatile last 24 hours the EURUSD has traded down close to its two year low and also threatened to break through the key 1.11 level which has offered some resistance in the last two weeks. Two weeks ago the EURUSD fell strongly back down through the key 1.11 level where it had been enjoying support from for the last month or so. In doing so it fell down to its lowest levels in more than two years and now looks precarious with no more obvious support levels.
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EURUSD - Drifts Below Key 1.11 as ECB May Resume QE

 

 
In the last week the EURUSD has fallen back down through the key 1.11 level where it had been enjoying support from for the last month or so. In falling through this level it is getting very close to falling to its lowest levels in more than two years and looks precarious with no more obvious support levels. In the last three weeks it has moved strongly lower from above 1.12, where it had numerous doji and pin bar candlesticks showed how enthusiastic the selling was during that period, down through any support at 1.11 – all of which are bearish signs.
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EURUSD - Drops to Two Year Low Below 1.11 as Eurozone Growth Halves

 

 
In the last three weeks the EURUSD has fallen sharply which has culminated in a strong drop in the last 24 hours to push through any support at 1.11 and fall to its lowest levels in more than two years. It had been enjoying some solid support from the key 1.12 level again after rallying and trying to push through the other key level of 1.13, although the 1.12 level may now be another layer of resistance the EURUSD has to work through if it is to rally in the near future.
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European Central Bank (ECB) Interest Rate Decision

Today at 12:45pm UK time. ECB Interest Rate Decision is announced after the ECB meetings, on which the monetary policy of the euro zone is discussed. The interest rate decisions are taken depending on the inflationary outlook and economic growth. F:0.0%, P:0.0%.

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EURUSD - Enjoys Support from Key 1.12 Level after IMF Urges ECB Stimulus

 

 
In the last two days the EURUSD has bounced off the key support level of 1.12 again after rallying and trying to push through the other key level of 1.13. In the last few weeks the EURUSD reversed and fell strongly back to the key 1.13 level and drifted a little lower testing the support at 1.12. It had enjoyed a solid surge higher from support at 1.12 back to the 1.13 level before breaking higher and reaching a three month low just above 1.14. For the most part of this year the EURUSD has traded in a range between 1.11 and 1.13 with very few excursions outside and after its recent decline, it remains within this range.
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EURUSD - Returns to Key 1.13 Level as IMF’s Lagarde Nominated as Next ECB President

 

 
In the last few days the EURUSD has reversed and fallen strongly back to the key 1.13 level and drifted a little lower. It had enjoyed a solid surge higher from support at 1.12 back to the 1.13 level before breaking higher and reaching a three month low just above 1.14. For the most part of this year the EURUSD has traded in a range between 1.11 and 1.13 with very few excursions outside and after its recent decline, it remains within this range.
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