EUR/USD is holding on to low support after the long decline, ahead of the EU summit. It’s a very busy day today – lots of action is expected. Here’s a quick update on technicals, fundamentals and community trends. Euro/Dollar breaking higher. EUR/USD Technicals Asian session: Quiet session after the big decline -narrow range 1.32 to 1.3230. 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, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3180 proved to be strong support. 1.3440 is important resistance above and remains as such after a breakout attempt failed. EUR/USD Fundamentals – 8:00 French Flash Services PMI. Exp. 55.4 points. 8:00 French Flash Manufacturing PMI. Exp. 57.8 points. 8:30 German Flash Services PMI. Exp. 59.1 points. 8:30 German Flash Manufacturing PMI. Exp. 58.2 points. 9:00 European Flash Manufacturing PMI. Exp. 55.3 points. 9:00. European Flash Services PMI. Exp. 55.3 points. 10:00 European CPI. Exp. 1.9%. Core CPI, exp. 1.2%. 13:30 US Unemployment Claims. Exp. 421K. 13:30 US Current Account. Exp. -126 billion. 13:30 US Building Permits. Exp. 570K. 13:30 US Housing Starts. Exp. 550K. 15:00 US Philly Fed Manufacturing Index. Exp. 14.8 points. * All times are GMT. For the major events due later in the week, see the EUR/USD outlook EUR/USD Sentiment There are hopes for a wide solution to the European debt crisis in the European summit – perhaps a permanent bailout mechanism. This is one of the 5 reasons for the Euro rally. The European summit begins today. Spain is under the limelight as Moody’s warns of a downgrade. This hurt the Euro at the beginning of the session. Spanish bonds yields are already eased to 5.45%. The Irish parliament approved the bailout plan as expected. US bond yields boost the dollar – they passed 3.50% yesterday. This mostly affects USD/JPY, but also EUR/USD. Currensee Community: 51% are long , 49% are short. These are 1233 open positions in real accounts trading this pair at the moment. 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 Forex News Today: Daily Trading News share Read Next The EU Summit And The EUR Yohay Elam 12 years EUR/USD is holding on to low support after the long decline, ahead of the EU summit. It's a very busy day today - lots of action is expected. Here's a quick update on technicals, fundamentals and community trends. Euro/Dollar breaking higher. EUR/USD Technicals Asian session: Quiet session after the big decline -narrow range 1.32 to 1.3230. 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, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3180 proved to be strong support. 1.3440 is important resistance above and remains as such after… 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.
