EUR/USD Dec. 13 – Tight Range Trading
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EUR/USD Dec. 13 – Tight Range Trading

EUR/USD leaned lower at the wake of the new week and then climbed higher, still within a limited range. When will it explode?  Here’s a quick update on technicals, fundamentals and community trends.

EUR USD Forecast December 10

Euro/Dollar in the frustrating range.

EUR/USD Technicals

  • Asian session:  Dipped to 1.3180 and climbed back.
  • Current Range between 1.3180 to 1.3267
  • Further levels in both directions: Below   1.3180, 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 –

  • 18:30 ECB president Jean-Claude Trichet talks

* All times are GMT.

For the major events due later in the week, see the  EUR/USD outlook

EUR/USD Sentiment

  • Spanish bonds yields continue rising. This Euro-crisis barometer is at 5.43%, getting close to the peak at the height of the Irish crisis.
  • ECB focuses its efforts on Portugal, after Ireland already fell – to prevent trouble from reaching Spain.
  • Irish parliament set to approve bailout plan on Wednesday.
  • Currensee Community: 50% are long , 50% are short. These are 1291 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..

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.