EUR/USD Dec. 10 – Falling in Range

EUR/USD dipped down and peeked up, but is eventually trading in the same frustrating rang, now dropping within the range. Will it explode at the end of the week?  Here’s a quick update on technicals, fundamentals and community trends.

Euro/Dollar in the frustrating range.

EUR/USD Technicals

• Asian session:  Quiet session in range.
• Current Range between 1.32 to 1.3267
• Further levels in both directions: Below    1.32, 1.3114, 1.30, 1.2920, 1.2722, 1.2587.  Above 1.3267, 1.3334, 1.3440, 1.3640, 1.37, 1.3830,  1.3950 and 1.4030.
• 1.3114 is strong lower support
• 1.3440 is important resistance above

EUR/USD Fundamentals –

• 7:45 French Industrial Production. Exp. +0.4%. Actual -0.8%.
• 13:30 US Trade Balance. Exp. -43.5 billion.
• 13:30 US Import Prices. Exp. +0.9%.
• 14:55 US Consumer Sentiment. Exp. 72.4 points.
• 19:00 US Federal Budget Balance. Exp. -129 billion.

* All times are GMT.

EUR/USD Sentiment

• Spanish bonds yields rise again, as Trichet’s bond buying program is rather limited. 10 year yields currently at 5.30%. This is a good barometer for fear.
• ECB focuses its efforts on Portugal, after Ireland already fell – to prevent trouble from reaching Spain.
• Currensee Community: 41% are long , 59% are short. These are 1347 open positions in real accounts trading this pair at the moment. The community sees more drops in EUR/USD.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..