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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 november 17


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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