EUR/USD (a 4-hour chart)
The euro fell to a low point1.2915 and the single currency may continue to fall to the minimum of the previous month, as the main prospects for the region remain vague with high uncertainty.
European politicians keep a reactionary approach to the risks of the region and a group of EU makes further attempts to buy more time for the governments operating under the fixed-exchange rate regime by cutting austerity.
The next 24 hours of trading the euro may face additional difficulties. We are waiting for the results of a report on the GDP. Bad GDP may push the ECB to continue the easing as the economic in the coming months downturn and it may threaten price stability.
The inflation and economic growth are lowered we see a growing number of ECB officials who want to use the negative interest rates in the euro zone. The Board of Governors may also review a purchasing of securities which are secured by the assets while the periphery countries impose more hopes for monetary support.