EUR/USD is riding on the dollar’s weakness across the board and breaks resistance to 16 month highs, despite worries about a Greek default. The short week ends with some major indicators. Will we see consolidation or a break of higher resistance? Here’s a quick update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session: Active session sees the pair settle above 1.4520, and then easily break above 1.4580. Move upwards continued in European session. Current range – 1.4580 – 1.47 Further levels in both directions: Below 1.4580, 1.4520, 1.4450, 1.4375, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860, 1.3760. 1.37, 1.3440. Above: 1.47, 1.48, 1.50, 1.5144 Resistance is only at 1.47, after previous lines have been left behind. While 1.4580 was easily broken as resistance, it will likely work better as support if Euro/Dollar consolidates its gains. Euro/Dollar looking to move higher – click on the graph to enlarge. EUR/USD Fundamentals – 8:00 German Ifo Business Climate. Exp. 110.6. Actual 110.4 – Within expectations, provides solid ground for Euro rises. 12:30 US Unemployment Claims. Exp. 394K. See how to trade USD/JPY around this event. 13:00 Belgian NBB Business Climate. Exp. +5.9 points. 14:00 US Philly Fed Manufacturing Index. Exp. 37.1 points. * All times are GMT. For more events later in the week, see the EUR/USD forecast EUR/USD Sentiment Default for Greece over the weekend?: There are strong rumors in the market regarding a “restructuring” for Greece during the long Easter weekend. Such a precedent could have a horrible snowball effect all over the continent, stronger than the bailouts. S&P credit warning for the US: It’s quite rare seeing a credit warning for the world’s no. 1 superpower. This shocking event hurt USD/JPY at first, but now it reaches all currencies, with the Swiss franc and the Australian dollar breaking records. Also the Euro and the pound enjoy this weakness. Bailout for Portugal – Portuguese yields stand at almost 9.50% at the time of writing. The lack of an operating government in Lisbon prevents a quick resolution to this unsustainable situation. Will Portugal follow Greece with a default? Gold and silver continue higher: Gold is already above $1500 and silver above $45. This adds to the dollar’s weakness. 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 dbFX Shutting Down Yohay Elam 12 years EUR/USD is riding on the dollar's weakness across the board and breaks resistance to 16 month highs, despite worries about a Greek default. The short week ends with some major indicators. Will we see consolidation or a break of higher resistance? Here's a quick update on technicals, fundamentals and what's going on in the markets. EUR/USD Technicals Asian session: Active session sees the pair settle above 1.4520, and then easily break above 1.4580. Move upwards continued in European session. Current range - 1.4580 - 1.47 Further levels in both directions: Below 1.4580, 1.4520, 1.4450, 1.4375, 1.4282, 1.4160, 1.4030, 1.3950, 1.3860,… 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.