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Euro keeps rising: EUR/USD breaks above 1.0950

FXStreet (Córdoba) - EUR/USD continue to rise during the American session and near the end rose further. The pair broke above 1.0950 and climbed to 1.0969, hitting a 1-month high.

Currently it trades near the highs up more than 3%, having the biggest daily gain years. The euro and the Swiss franc are the top performer currencies boosted after the European Central Bank announced more easing measures but not the expected increase in the monthly purchases.

EUR/USD up; stocks tumble

The pair erased most of November losses in a few hours. Tomorrow’s NFP could also boost volatility in the forex market. “With the US Nonfarm Payroll release early Friday, is yet to be confirmed if EUR rally can be sustained in time, or if it's just the due correction after the pair lost over 1000 pips in the last two months”, said Valeria Bednarik, Chief Analyst at FXStreet.

From a technical perspective, short-term indicators are showing extreme overbought readings but the euro continues to rise as USD prints fresh lows and stocks in the US tumble. The Dow Jones is now down 1.60% while the Nasdaq declines 2.07%. European futures are also falling sharply.

Key events in the US sessions - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted and explained the sessions key events.
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