EUR/USD made its way higher after some traders returned from their Christmas holidays. It’s still within range. Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar edging higher.
EUR/USD Technicals
- Asian session: EUR/USD rose and bounced under 1.3180..
- Current Range between 1.3080 to 1.3180.
- Further levels in both directions: Below 1.3080, 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.
EUR/USD Fundamentals –
No events today.
* All times are GMT.
EUR/USD Sentiment
- The Chinese rate hike risks global growth and triggered risk aversive trading. While the Aussie suffers more than the Euro, the stronger US dollar might be felt also here.
- Irish banks are still troubled and may draw weigh on the Euro.
- 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.
- Thin trading on Boxing Day means that any unexpected news will find the markets unprepared and technical lines aren’t as guarded as on normal days.
- Currensee Community: 54% are long , 46% are short. These are 1239 open positions in real accounts trading this pair at the moment.
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