EUR/USD managed to climb higher and settle above support just before Christmas. Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar drifring higher.
EUR/USD Technicals
- Asian session: Active session saw EUR/USD trading in range, before falling at the wake of the European session.
- Current Range between 1.3115 to 1.3180.
- Further levels in both directions: Below 1.3114, 1.3070, 1.30, 1.2920, 1.2722, 1.2587. Above 1.3114, 1.3180, 1.3267, 1.3334, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030.
- 1.3050 new lower frontier.
- 1.3440 is important resistance above and remains as such after a breakout attempt failed.
- A downtrend support follows EUR/USD. (on the graph).
EUR/USD Fundamentals –
No events today.
* All times are GMT.
EUR/USD Sentiment
- Another Irish bank was nationalized.
- Portugal is under review for a downgrade and got one.
- France is danger of suffering a credit rating downgrade – France is Europe’s second largest economy. A downgrade or a warning will send the Euro way down.
- Spanish bond yields have stabilized at high levels, around 5.50%
- China said it helped the Euro-zone during the crisis, and is trying to get closer to Europe before the US-China summit. Will they push the Euro higher? Probably not.
- US bond yields take a break – they’re not challenging new highs. This mostly affects USD/JPY, but also EUR/USD.
- Currensee Community: 50% are long , 50% are short. These are 1245 open positions in real accounts trading this pair at the moment.
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