19 Jan 2015
EUR/USD attempts a recovery to 1.1580
FXStreet (Edinburgh) - The shared currency is now looking to leave behind the mid-1.1500s, pushing EUR/USD to the vicinity of 1.1580.
EUR/USD faces ZEW, ECB
The demand for the EUR looks to recover at the beginning of the week, with market participants focused on Thursday’s ECB meeting, when according to market chatter the central bank would announce a QE programme. Opinions remain divided regarding the size of the stimulus package, although consensus expect it would be between €500 billion and €1 trillion. In the data front, EMU’s Current Account and Construction Output are due today ahead of tomorrow’s more relevant ZEW Survey.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.1581 facing the next hurdle at 1.1649 (high Jan.16) followed by 1.1754 (10-d MA) and finally 1.1792 (high Jan.15). On the downside, a break below 1.1460 (11-year low Jan. 16) would target 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003).
EUR/USD faces ZEW, ECB
The demand for the EUR looks to recover at the beginning of the week, with market participants focused on Thursday’s ECB meeting, when according to market chatter the central bank would announce a QE programme. Opinions remain divided regarding the size of the stimulus package, although consensus expect it would be between €500 billion and €1 trillion. In the data front, EMU’s Current Account and Construction Output are due today ahead of tomorrow’s more relevant ZEW Survey.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.1581 facing the next hurdle at 1.1649 (high Jan.16) followed by 1.1754 (10-d MA) and finally 1.1792 (high Jan.15). On the downside, a break below 1.1460 (11-year low Jan. 16) would target 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003).