EUR/USD secured the support line and is now advancing towards the next strong line of resistance. Stronger inflation figures in Europe and dovish statements in the US enable this move. We have a very busy day ahead. Here’s a quick update on technicals, fundamentals and sentiment currently moving the markets. EUR/USD Technicals Asian session: Euro/Dollar dropped to support at 1.4450 and bounced from there. The fresh rise came in the European session.. Current range – 1.4450 – 1.4580 Further levels in both directions: Below 1.4450, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760 Above: 1.4580, 1.48, 1.50, 1.5144 1.4450 switched once again to support, and proved to be quite strong.. The pair is making gradual steps towards 1.4580, which is the highest level in 15 months. Euro/Dollar on high support – click on the graph to enlarge. EUR/USD Fundamentals – 5:30 French CPI. Exp. +0.6%. Actual +0.8%. Inflation is on the rise. 6:00 German WPI (Wholesale Price Index). Exp. +1.3%. Actual +1.3%. Within expectations, but expectations were high anyway. 9:00 European Industrial Production. Exp. +0.8%. 12:30 US Retail Sales. Exp. +0.6%. Core sales exp. +0.7%. 18:00 US Beige Book. 21:00 ECB member Axel Weber talks. * All times are GMT. For more events later in the week, see the EUR/USD forecast EUR/USD Sentiment More rate hikes in Europe?: The fresh inflation data from Europe suggests further tightening. Indeed, the European Central Bank made a move on the rates. Trichet raised the rate to 1.25% and hinted that another moves isn’t coming in the next meeting, but won’t be ruled out. The initial reaction was bad for the Euro,as the market expected him to be more hawkish and to hint more rate hikes. Fed leaning towards the doves: After a few recent hawkish speecheswe now hear from the doves in the Federal Reserve. Dudley and Yellen are definitely in the dovish camp. This weakens the US dollar across the board. Profit Taking: EUR/USD made a huge rally last week. It took a break, especially as commodity prices fell. But it’s not resuming the uptrend. Default for Greece?: There’s lots of speculation about a default for the small country. It’s currently being denied and ignored. When it eventually happens, it could hurt the Euro. Bailout for Portugal – The details of a bailout for Portugal are starting to emerge, and there’s a lot of talk that Portugal will be the last country to receive a bailout. Indeed, Spanish yields are lower, meaning that the market is more confident about Spain. See more about The Portuguese bailout Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam EUR/USD DailyForex News Today: Daily Trading News share Read Next AFC Champions League – Now Sponsored by FxPro Yohay Elam 12 years EUR/USD secured the support line and is now advancing towards the next strong line of resistance. Stronger inflation figures in Europe and dovish statements in the US enable this move. We have a very busy day ahead. Here's a quick update on technicals, fundamentals and sentiment currently moving the markets. EUR/USD Technicals Asian session: Euro/Dollar dropped to support at 1.4450 and bounced from there. The fresh rise came in the European session.. Current range - 1.4450 - 1.4580 Further levels in both directions: Below 1.4450, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760 Above: 1.4580, 1.48, 1.50, 1.5144 1.4450 switched once… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.