Euro dollar is ticking higher along the pivotal line in the day after Christmas. Most financial centers are closed, but movements are still seen on the charts. No events are expected today. Here’s an update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session: The pair moved up and reached the 1.3060 line. Current range: 1.3060 to 1.3145. Further levels in both directions: Below 1.3060, 1.30, 1.2945, 1.2920, 1.2873 , 1.2720 and 1.2580. Above: 1.3145, 1.3212, 1.3280, 1.3380, 1.3420, 1.3480 and 1.3550. 1.2945 is the trough reached after 1.30 was lost, but the really important support is the YTD low of 1.2873. 1.3145 remains critical resistance even though it was temporarily broken. Euro/Dollar in the middle of the range- click on the graph to enlarge. EUR/USD Fundamentals – No Events today For more events later in the week, see the Euro to dollar forecast EUR/USD Sentiment Trade volume at extreme low: The day after Christmas is a holiday in most financial centers. Trading volume will rise tomorrow, but will likely stay low until January 3rd. The day after the euro: Some financial institutions are already working on contingency plans for the day after the euro. Symbols such as ITL (Italian Lira), ESP (Spanish Peseta) and GRD (Greek Drachma) are revived in computer software systems, but there is no confirmation about printing the old money. There was one rumor about the Irish mints working on printing the Irish punt (IEP), but this was never confirmed. US – Housing looks bad, employment looks good : After building approvals and housing starts exceeded expectations, existing home sales were low and saw significant downwards revisions. This sector is critical for US growth. Also Q3 was worse than reported, with lower growth, only 1.8%. Another drop in jobless claims provides hope. France downgrade delayed Standard and Poor’s warned all euro-zone countries, apart from Greece, that their rating is endangered. France, Italy, Spain and others received a two-notch warning. The rating agency promised an answer within days and official talk from Paris begins preparing the public for a downgrade, saying “it’s not the end of the world” and similar comments. The publication of the report about euro-zone countries has been delayed to January. If France loses the AAA rating, so does the EFSF bailout fund. Moody’s and Fitch also added their warnings. ECB Indirect QE: The European Central Bank conducted a massive 3 year financing operation (LTRO). Banks can pledge collateral, including of low grade and get financing. This could explain the huge success of Spain’s bond auction. Indirectly, the ECB encourages banks to buy sovereign bonds, and gives them a nice arbitrage. But after the huge â‚¬489 billion operation the pair then “sold the fact”. Italian 10 year yields are now close to 7%, and Spanish yields aren’t too close to 5% anymore. This shows the partial success of the operation. Greek talks stuck: Greece’s bondholders are struggling to reach an agreement about the “voluntary” debt restructuring. The parties aren’t getting close. And, the pace of withdrawals from Greek banks intensified recently, as the chances of leaving the euro-zone rose. This Greek bank run could bring down the system. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. EUR/USD DailyForex News share Read Next Forex Daily Outlook December 27 2011 Anat Dror 10 years Euro dollar is ticking higher along the pivotal line in the day after Christmas. Most financial centers are closed, but movements are still seen on the charts. No events are expected today. Here's an update on technicals, fundamentals and what's going on in the markets. EUR/USD Technicals Asian session: The pair moved up and reached the 1.3060 line. Current range: 1.3060 to 1.3145. Further levels in both directions: Below 1.3060, 1.30, 1.2945, 1.2920, 1.2873 , 1.2720 and 1.2580. Above: 1.3145, 1.3212, 1.3280, 1.3380, 1.3420, 1.3480 and 1.3550. 1.2945 is the trough reached after 1.30 was lost, but the really… Top 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.