EURUSD Trading Week

FX:EURUSD   Euro / U.S. Dollar
Market open EURUSD - currently on daily support - long positions until 1.07161 (previous support now resistance). The overall trend is still bearish for the EUR. Resistance provides opportunity for short positions (+ 300 pips) - sell and hold opportunity until 1.04150 A break through this support level could provide an additional >100 pip short trade until support of 1.03196

The bullish momentum could be further fueled by a short term depreciation in the dollar prior to Janet Yellen's testifying. Ultimately, Draghi and the ECB speech will be the catalyst in downside to monthly support levels mentioned above (1.04150 and 1.03196) , quantitative easing being bearish for the euro in the form of lower interest rates.


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