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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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EURUSD - Rallies to Key 1.13 Level After ECB Prepared to Announce Further Stimulus

 

 
In the last few days the EURUSD has reversed at the 1.12 level and rallied back to the key 1.13 level where it has meet stiff resistance again. It was only a couple of weeks ago the EURUSD surged higher to its highest levels in three months and in doing so pushed through the resistance at the key level of 1.13 for a few days. 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 it remains within this range.
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ZEW Germany Economic Sentiment Indicator

Today at 9:00am UK time. Calculated monthly by the Center of European Economic Research on the basis of a survey of around 300 experts from banks, insurance companies and financial departments of corporations. F:0.5%, P:-2.1%. #EURUSD may test 1.12.

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EURUSD - Settles Above Key 1.13 Level After ECB Pushes Back Rate Rise Deadline

 

 
In the last week or so the EURUSD has surged higher to its highest levels in three months and in doing so has pushed through the resistance at the key level of 1.13. Over the last couple of months the EURUSD has been well supported by the 1.11 level and on several occasions it appeared as if the currency pair was poised to move through this level to a two year low.
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EURUSD - Drops Below Key 1.12 Level Again as ECB Warns over Trade Wars

 

 
In the last few days the EURUSD has reversed and eased lower back below the current key level of 1.12 moving to a one week low, and again looking poised to move through 1.11 to a two year low. A few weeks ago it attempted to rally higher however it formed a classic reversal candlestick pattern before easing lower. In doing so, it has continued to achieve lower peaks and lower troughs and now looks poised to threaten the recent troughs around 1.11. 
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