The Euro is approaching again our resistance to 1.3130 with the announcement of new asset purchases by the Federal Reserve (FED) and an agreement on the European banking supervision, yet now the Euro could fail to impetus to the approaching holiday season.

While the famous "Operation Twist" the Fed expires, the central bank has, as expected, chose to trade against repurchases of U.S. bonds, amounting to $ 45 billion monthly to amplify support to the US economy. These new injections in addition to the 40 billion the FED already investing every month since last September in securities on mortgages, further increasing the money in circulation and reducing the attractiveness of the dollar.

Furthermore, the countries of the EU have finally agreed on the establishment of a supervision of banks in the Eurozone in 2014. Markets welcomed the fact that officials have kept their commitments crossing before the end of the year, an important stage in the resolution of the debt crisis.

Technically, the Euro is facing a new mid-term level particularly resistant and should now miss catalysts to cross it. Trading could become very technical and a return to 1.2987 would be a great buying opportunity.