EUR/USD is falling off highs reached on Friday, and loses a minor support line. Most of the day is light, but one event could shake the pair. Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar falling of 1.3334
- Asian session: EUR/USD attempted to break above 1.3440 and fell.
- Current Range between 1.3267 to 1.334.
- Further levels in both directions: Below 1.3267, 1.32, 1.3114, 1.30, 1.2920, 1.2722, 1.2587. Above 1.3334, 1.3430, 1.3640, 1.37, 1.3830, 1.3950 and 1.4030.
- 1.2720 is a low, very strong support line.
- 1.3830 significant higher point – far away now.
EUR/USD Fundamentals –
- 00:00 Ben Bernanke spoke on 60 minutes. His outlook was relatively optimistic, boosting the dollar.
- 9:30 European Sentix Investor Confidence. Exp. 13.2.
- 14:00 ECB Publishes amount of bond buying.
* All times are GMT.
- Contagion is weaker, thanks to Trichet. We’ll now know the size of bond buying, and whether it was sterilized or not.
- US Non-Farm Payrolls came out weaker than expected, weighing on the dollar. This will continue weighing.
- The Belgians want a bigger bailout fund, angering Germany. Talks about enlargement will also rock the Euro.
- Currensee Community: 48% are long , 52% are short. These are 1236 open positions in real accounts trading this pair at the moment. The community doesn’t believe in this Euro recovery.
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