EUR/USD falls below 1.12as ECB may “accelerate” QE

May 19, 2015

The EUR/USD pair weakened sharply to 1.12 as it met with fresh offers above 1.13 after the ECB’s Coeure said that the bank may front-load its QE program before summer for seasonal reasons. 

EUR weakens as bond Yields fall

The shared currency fell into losses as the benchmark bond yields across the Eurozone took a hit after Coeure said the ECB may buy more bonds in May, June for seasonal reasons. It means the bank may buy bonds more than its monthly target of EUR 60 billion. 

The EUR took a hit on the “accelerated QE” and the talk of deposit rate falling further into the negative territory. The expectations of further cut into negative territory were triggered since Coeure said short-term rate below zero does not pose a policy problem. 

EUR/USD Technical Levels

The pair currently trades at 1.1191. The immediate support is seen at 1.1178, under which the pair could extend the drop to 1.1130. On the flip side, a break above 1.12 could see the pair recover back to 1.1250 levels.

Publication source
HYCM information  HYCM reviews

February 22, 2017
Crude oil look set to resume bullish trend
Oil prices have been coiling for several weeks now with both contracts spending most of their time in a tight four dollar range...
February 22, 2017
Investors are questioning the stability of EU, should you?
The US radiant future under the Trumpnomics remains a hot topic for speculation, propelling the greenbacks demand. More and more investors are trying to hop on the Dollars gravy train, as caution is lowered...
February 22, 2017
Brent remained strongly bid
Sustained break above the 57.50 region is seen as minimum requirement needed to confirm bullish resumption. Once we break above the 57.50 hurdle, we think that the 58.50 level will be next. Meanwhile, we do not exclude a minor correction towards 56.50 dollars per barrel...

FX Giants Rating
Vantage FX Rating
FxPro Rating
Larson&Holz IT Ltd Rating
OctaFX Rating
Cms Trader Rating

Binary Brokerz Rating
Dragon Options Rating
24option Rating
Empire Option Rating
365BinaryOption Rating
First Binary Option Service Rating