The big fall on Friday left EUR/USD at lower ground, and it’s now consolidating. Will manage to recover? Or will it continue downwards? Here’s a quick update on fundamentals, technicals and community trends. EUR/USD below long term support – click to enlarge EUR/USD Technicals Asian session: Quiet opening of the week – EUR/USD traded in a very narrow range in a quiet Asian session, between 1.2690 and 1.2722. Current Range is between 1.2610 to 1.2722. Further levels: Below, 1.2460, 1.2330 and 1.2150. Above 1.2790, 1.2880, 1.2930 and 1.30 Long term: On August 20th, EUR/USD lost less steep uptrend channel began on June 7th, from the year-to-date low of 1.1876. This turns into a resistance line now. For today, it stands on 1.2821. A break above this level will trigger a sharp recovery. EUR/USD Fundamentals 7:00 GMT: French Flash Manufacturing PMI. Exp. 53.3. 7:00 GMT: French Flash Services PMI. Exp. 60.7. 7:30 GMT: German Flash Manufacturing PMI. Exp. 60.9. 7:30 GMT: German Flash Services PMI. Exp. 56.3. 8:00 GMT: All-European Flash Manufacturing PMI. Exp. 56.4. 8:00 GMT: All-European Flash Services PMI. Exp. 55.6. 14:00 GMT: European Consumer Confidence. Exp. -13. 14:30 GMT: US FOMC member Thomas Hoeing (hawk) speaks. EUR/USD Sentiment Market is in risk aversive mood. This means that bad US indicators are dollar positive. Friday’s fall signals more falls ahead. PMI figures will cause choppy trading, but are unlikely to have a long term impact. Currensee Community: 55% are Short, 45% are long. These are 866 open positions in real accounts trading this pair at the moment. Note – This is a new and still experimental section on Forex Crunch. It’s still in development. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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 Forecast share Read Next Americans Drifting Away from Stocks – Will the Dollar Yohay Elam 12 years The big fall on Friday left EUR/USD at lower ground, and it's now consolidating. Will manage to recover? Or will it continue downwards? Here's a quick update on fundamentals, technicals and community trends. EUR/USD below long term support - click to enlarge EUR/USD Technicals Asian session: Quiet opening of the week - EUR/USD traded in a very narrow range in a quiet Asian session, between 1.2690 and 1.2722. Current Range is between 1.2610 to 1.2722. Further levels: Below, 1.2460, 1.2330 and 1.2150. Above 1.2790, 1.2880, 1.2930 and 1.30 Long term: On August 20th, EUR/USD lost less steep uptrend channel began… 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.
