The euro currency is starting to reverse against the US dollar, following comments from FOMC members about upcoming QE discussions inside the central banks’ meeting minutes. The MACD indicator on the four-hour time frame is a warning that a deeper price retracement may be incoming. Watch out for losses in the EURUSD pair towards the 1.2130 area if the divergence is reversed.
EURUSD pair is only bearish while trading below the 1.2160 level, key support is found at the 1.2130 and 1.2100 levels.
The EURUSD pair is only bullish while trading above the 1.2160 level, key resistance is found at the 1.2201 and 1.2245 levels
