EUR/USD was stuck in a restricted range of $1.0645 – $1.0699. It continued solidifying in a similar range for all of a week ago, with the exception of Friday. On that day, the pair at last broke out of the range after the release of labor market information from the United States.

After the ECB meeting minutes and a discourse by President Mario Draghi, it appears to be improbable that they will raise rates before finishing quantitative easing. This implies the speculator opinion for the April’s meeting of the ECB stays unchanged.

EUR
German ZEW Economic Sentiment

USD
Fed Chair Yellen Speaks
JOLTS Job Openings
FOMC Member Kashkari Speaks

Trading Range:
1.0750 – 1.0500

Support & Resistance Levels
R3: 1.0859
R2: 1.079
R1: 1.0747
Pivot Point: 1.0678
S1: 1.0609
S2: 1.0566
S3: 1.0497

Recommendation
Sell Below: 1.0610
Take Profit:
1st @ 1.0550
Stop Loss @ 1.0645

EURUSD - Chart

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