EUR/USD is trading in an almost perfect manner in a higher range, dismissing bad news regarding the debt crisis and awaiting key US data that promises a strong ending to the week. Here’s a quick update on technicals, fundamentals and sentiment currently moving the markets. EUR/USD Technicals Asian session: Euro/Dollar traded around 1.45, then made a dip but bounced exactly at the 1.4450 line. Current range – 1.4450 – 1.4520 Further levels in both directions: Below 1.4450, 1.4380, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760 Above: 1.4520, 1.4580, 1.48, 1.50, 1.5144 1.4520 proved to be a tough line, over and over again. 1.4450 now works as excellent support, switching roles from yesterday. 1.4380 is stronger below.. Euro/Dollar on high support – click on the graph to enlarge. EUR/USD Fundamentals – 9:00 European CPI. Exp. +2.6%. Core CPI exp. +1.1%. Actual, +2.7% and 1.3% respectively – higher than expected. 9:00 European Trade Balance. Exp. -3.4 billion. Actual -2.4 billion – better than expected. 12:30 US CPI. Exp. 0.5%. Core CPI exp. +0.2%. See how to trade EUR/USD on this event. 12:30 US Empire State Manufacturing Index. Exp. 17.1 points. 13:00 US TIC Long-Term Purchases. Exp. 60 billion. 13:15 US Industrial Production. Exp. +0.5%. 13:15 US Capacity Utilization Rate. Exp. 77.5%. 14:55 US Consumer Sentiment. Exp. 68.7 points. 15:15 US FOMC member Charles Evans talks. * All times are GMT. For more events later in the week, see the EUR/USD forecast EUR/USD Sentiment Another downgrade for Ireland: Moody’s downgrades Ireland once again. The markets aren’t excited. China continues growing: The economic giant from the east posted strong growth, 9.7%, and strong inflation, 5.4%. It continues to “export” this inflation, whereas Europe “imports” it. Expectations regarding rate hikes in Europe are increasing once again, and this supports the Euro. Default for Greece?: German Finance Minister retreated from his comments on a Greek default, but it’s quite evident that this will happen. Greek yields are touching the skies.. Bailout for Portugal – There’s no government in Lisbon, making it hard to agree on a bailout program. In addition, the outcome of the Greek bailout poses doubts about the chances of successful move in Portugal. Portuguese yields already passed the 9% mark. See more about The Portuguese bailout Fed forced to act on the rates: US CPI will show if inflation is becoming a problem in the US as well. Probably not.After a few recent hawkish speeches we got some doves. This release today will definitely impact the FOMC meeting in two weeks time. Yesterday’s PPI and jobless claims showed that there’s no rush. 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 Daily share Read Next EUR/USD Falls On Greek Default Worries Yohay Elam 11 years EUR/USD is trading in an almost perfect manner in a higher range, dismissing bad news regarding the debt crisis and awaiting key US data that promises a strong ending to the week. Here's a quick update on technicals, fundamentals and sentiment currently moving the markets. EUR/USD Technicals Asian session: Euro/Dollar traded around 1.45, then made a dip but bounced exactly at the 1.4450 line. Current range - 1.4450 - 1.4520 Further levels in both directions: Below 1.4450, 1.4380, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760 Above: 1.4520, 1.4580, 1.48, 1.50, 1.5144 1.4520 proved to be a tough line, over and… Top 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.