EUR/USD fell again towards the support line, on a very busy day, that will just get busier. How will it close the week? Here’s a quick update on technicals, fundamentals and community trends.
EUR/USD around 1.3830.
EUR/USD Technicals
- Asian session: EUR/USD held couldn’t climb above 1.3950.
- Current Range between 1.37 to 1.3830
- Further levels in both direcstions: Below, 1.37, 1.3637, 1.3530, 1.3430 and 1.3333. Above 1.3830, 1.3950, 1.4030, 1.4217, 1.4450 and 1.4580.
- 1.4030 proved to be a strong line in the past, but EUR/USD couldn’t hold on to it.
- 1.3830 lost – bearish sign – 1.37 next level.
EUR/USD Fundamentals
All times are GMT. Most important events emphasized.
- 6:00 German Retail Sales. Exp. +0.5%. Actual 2.3%. Disappointment.
- 9:00 CPI Flash Estimate. Exp. 1.7%. Actual 1.9%. Inflation is climbing in Europe.
- 9:00 Unemployment rate. Exp. 10.1%. Actual 10.1%.
- 12:30 US Advance GDP. Exp. 2.1%.
- 13:45 Chicago PMI. Exp. 58.1 points.
- 13:55 Revised consumer sentiment. 68.2 points.
EUR/USD Sentiment
- Debt issues never went away, but the market disregards them. Maybe they will get more attention, especially with budgets in Ireland and Portugal.
- The inevitable second round of quantitative easing in the US is a done deal, but will probably be of a lesser scale than thought earlier. – comments regarding the size will have a strong impact on EUR/USD.
- Currensee Community: 54% are long, 46% are short. Down from 57:43 yesterday. These are 1101 open positions in real accounts trading this pair at the moment.
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