EUR/USD lost another cushion on the way down, as both Irish and Greek problems become contagious. Can it bounce here, or will the downfall continue? Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar under 1.35
EUR/USD Technicals
- Asian session: A relatively quiet Asian session left EUR/USD unchanged.
- Current Range between 1.3430 and 1.3530
- Further levels in both directions: Below , 1.3430, 1.3334, 1.3267, 1.3114 and 1.2920. Above 1.3530, 1.3640, 1.37, 1.3830, 1.3950, 1.4030, 1.4030, 1.4160, and 1.4217.
- 1.3334 significant lower point – this was an important peak in August, after which the Euro made a big decline. A struggle will probably be seen here.
- 1.3830 significant higher point.
EUR/USD Fundamentals
All times are GMT. Most important events emphasized.
- 13:00 US FOMC member Eric Rosengren talks.
- 13:00 US CPI. Exp. +0.3%. Core CPI exp. +0.1%.
- 13:30 US Building Permits. Exp. 570K.
- 13:30 US Housing Starts. Exp. 590K.
- 14:15 US FOMC member James Bullard talks.
EUR/USD Sentiment
- Finland opposes aid to Ireland, and Austria refuses to pay Greece if it doesn’t meet the conditions for payment. The Euro-debt crisis is becoming ugly.
- CPI isn’t expected to move the markets, but a jump in the housing sector could give the dollar a boost.
- QE2 is heavily overshadowed by the European debt issues.
- Currensee Community: 51% are long, 49% are short, down from 57:43 yesterday. These are 1222 open positions in real accounts trading this pair at the moment.
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