16 Jan 2015
EUR/USD regains 1.1570
FXStreet (Edinburgh) - The shared currency is putting further distance from multi-year lows posted earlier, with EUR/USD now looking to retake levels above 1.1570.
EUR/USD attention to the ECB
It’s all about the ECB next week. Despite there are other key releases, such as the German ZEW Survey or the flash readings of the manufacturing and services PMI in the euro area, the ECB and the likeliness of the implementation of a QE programme will take centre stage. According to mounting rumours amongst traders, the central bank could embark in a €500 billion/€1 trillion open-ended stimulus programme, in order to quell the disinflationary trends in the euro bloc and spark positive inflation expectations, all aimed to lift consumer prices back to the 2% target. In the meantime, the pair remains comatose around the mid-1.1500s, coming from the area of 1.1460.
EUR/USD key levels
At the moment the pair is losing 0.35% at 1.1577 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003) ahead of 1.1376 (low Nov.7 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).
EUR/USD attention to the ECB
It’s all about the ECB next week. Despite there are other key releases, such as the German ZEW Survey or the flash readings of the manufacturing and services PMI in the euro area, the ECB and the likeliness of the implementation of a QE programme will take centre stage. According to mounting rumours amongst traders, the central bank could embark in a €500 billion/€1 trillion open-ended stimulus programme, in order to quell the disinflationary trends in the euro bloc and spark positive inflation expectations, all aimed to lift consumer prices back to the 2% target. In the meantime, the pair remains comatose around the mid-1.1500s, coming from the area of 1.1460.
EUR/USD key levels
At the moment the pair is losing 0.35% at 1.1577 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003) ahead of 1.1376 (low Nov.7 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).