EUR/USD is ignoring weak German PPI and Greek fears and prefers to ride forward on US earnings and the US fiscal trouble. The pair is approaching the next resistance line. Where will it go from here? Here’s a quick update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session: Euro/Dollar saw an active session, breaking above 1.4375 and moving higher afterwards. Current range – 1.4375 – 1.4450 Further levels in both directions: Below 1.4375, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760. 1.37, 1.3440. Above: 1.4450, 1.4520, 1.4580, 1.48, 1.50, 1.5144 1.4450 is only a minor resistance line (and getting close now). The notable line to watch is 1.4520, which was a recent peak – the highest level in 15 months. 1.4282 is of important support below, as ranges widen. Euro/Dollar looking to move higher – click on the graph to enlarge. EUR/USD Fundamentals – 6:00 German PPI. Exp. +0.8%. Actual +0.4% – Significantly weak. 14:00 US Existing Home Sales. Exp. 5.05 million. See how to trade USD/JPY around this release. * All times are GMT. For more events later in the week, see the EUR/USD forecast EUR/USD Sentiment Good American corporate earning: A big bulk of earnings reports was released – Yahoo, Intel and IBM all beat expectations, providing a boost for the stock markets – helping the Euro gain. The correlation is stronger these. S&P credit warning for the US: It’s quite rare seeing a credit warning for the world’s no. 1 superpower, but this shocker weakened the dollar – especially against the yen at first, but it’s now felt in EUR/USD as well. Default for Greece?: Discussions about restructuring are going on, and are being denied, although reports are emerging about such a precedent that could have severe implications. Read more about the possibility of a Greek default and the ongoing denials. 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. Portuguese bond yields are at 9.12% – this shows the severe lack of confidence that the market has in the ability of Portugal to pay back, even after the official request for a bailout. Spanish yields are around 5.50%. 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 GBP/USD Loses Ground As Rate Hike Pushed Back Yohay Elam 11 years EUR/USD is ignoring weak German PPI and Greek fears and prefers to ride forward on US earnings and the US fiscal trouble. The pair is approaching the next resistance line. Where will it go from here? Here's a quick update on technicals, fundamentals and what's going on in the markets. EUR/USD Technicals Asian session: Euro/Dollar saw an active session, breaking above 1.4375 and moving higher afterwards. Current range - 1.4375 - 1.4450 Further levels in both directions: Below 1.4375, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760. 1.37, 1.3440. Above: 1.4450, 1.4520, 1.4580, 1.48, 1.50, 1.5144 1.4450 is only a minor… 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.