Jasper Roberts Consulting - Widget

EUR/USD trading steady after the speech of the ECB President Mario Draghi

EURUSD rose yesterday and closed at 1.3737. There officials from the United States Federal Reserve supported the cut in the Fed bond-buying program at their meeting in December. The President of the Saint Louis Federal Reserve James Bullard suggested that a small taper could be appropriate at the December meeting, because of the improvements of the job market in the US.

The President of the Richmond Fed Jeffrey Lacker also highlighted the possibility of a discussion about tapering the size of the stimulus package of FED at their December meeting. The Dallas Fed President Richard Fisher warned that the cost of the 85 billion dollar asset purchase program exceeds its benefits and urged the US central bank to start tapering as soon as possible. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3750. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.