EUR/USD is rising from the lower range to a higher one on an upcoming agreement in the European summit, and positive hints from China. Will this be enough for a positive close of the week? Here’s a quick update on technicals, fundamentals and community trends. Euro/Dollar moving up. EUR/USD Technicals Asian session: Active session saw a breakout above 1.3267. Current Range between 1.3267 and 1.3334. Further levels in both directions: Below 1.3267, 1.3180, 1.3114, 1.30, 1.2920, 1.2722, 1.2587. Above 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 – 8:15 ECB member Axel Weber talks. 9:00 German Ifo Business Climate. Exp. 109.2 points. 10:00 European Trade Balance. Exp. +2.9 billion. 15:00 US CB Leading Index. Exp. +1.2%. * 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. China says it will wait with rate hikes due to market turbulence. No rate hike is good for the Euro. Spanish bonds yields are still high on Moody’s warns of a downgrade. The IMF joined the Irish parliament by approving the bailout plan. Moody’s downgrades Ireland from AA2 to BAA1. No real surprise here. US bond yields take a break – they went up to 3.57% but closed under 3.50%. This mostly affects USD/JPY, but also EUR/USD. Currensee Community: 50% are long , 50% are short. These are 1277 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 Elliott Wave: Aud/Usd Ready To Gain Above Parity!? Gregor Horvat 12 years EUR/USD is rising from the lower range to a higher one on an upcoming agreement in the European summit, and positive hints from China. Will this be enough for a positive close of the week? Here's a quick update on technicals, fundamentals and community trends. Euro/Dollar moving up. EUR/USD Technicals Asian session: Active session saw a breakout above 1.3267. Current Range between 1.3267 and 1.3334. Further levels in both directions: Below 1.3267, 1.3180, 1.3114, 1.30, 1.2920, 1.2722, 1.2587. Above 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… 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.