- Even more Fed-speak indicating hawkishness has continued the drive higher in the Dow Jones FXCM Dollar Index, and this has brought to question two previously strong trends in EUR/USD, but this strength hasn’t necessarily been even-handed: While EUR/USD appears to be on the cusp of establishing a new down-trend as major, long-term support levels come into play though last week’s price action in EUR/USD spent quite a bit of time in this vicinity, seeing price drop to this level on Wednesday only for markets to fight with it for the remainder of the week.