The US Dollar advanced against its major rivals and the euro after U.S. Federal Reserve officials’ hawkish comments that if jobs improve and inflation is up, the Fed can raise rates. The single currency remains under selling pressure ahead of The European Central Bank monetary policy meeting on Thursday and U.S. Nonfarm payrolls report on Friday. ECB is expected to lay the ground for further monetary easing to tackle low inflation in the eurozone.
As expected, the EUR/USD pair continues its decline toward the flag Potential target. After have completed the pullback EUR/USD prices remained below the lower line of the bearish Flag and take profit zone around $1.2170. Due to divergence between central banks, any rally of the pair would represent good opportunities to enter sell positions.
Traders may stay cautious to the end of the week due to high volatility and consequently any adverse move of the pair may be driven by the major economic news releases; including ECB meeting and job report in U.S. 
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The Euro Remains Under Selling Pressure Ahead Of The ECB Meeting
Published 12/03/2014, 03:08 AM
Updated 05/14/2017, 06:45 AM
The Euro Remains Under Selling Pressure Ahead Of The ECB Meeting
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