Search ForexCrunch

EUR/USD is falling off highs reached on Friday, and loses a minor support line. Most of the day is light, but one event could shake the pair. Here’s a quick update on technicals, fundamentals and community trends.

eur usd december 6

Euro/Dollar falling of 1.3334

EUR/USD Technicals

  • Asian session:  EUR/USD attempted to break above 1.3440 and fell.
  • Current Range between 1.3267 to 1.334.
  • Further levels in both directions: Below   1.3267, 1.32, 1.3114, 1.30, 1.2920, 1.2722, 1.2587.  Above  1.3334, 1.3430, 1.3640, 1.37, 1.3830,  1.3950 and 1.4030.
  • 1.2720 is a low, very strong support line.
  • 1.3830 significant higher point – far away now.

EUR/USD Fundamentals –

  • 00:00 Ben Bernanke spoke on 60 minutes. His outlook was relatively optimistic, boosting the dollar.
  • 9:30 European Sentix Investor Confidence. Exp. 13.2.
  • 14:00 ECB Publishes amount of bond buying.

* All times are GMT.

EUR/USD Sentiment

  • Contagion is weaker, thanks to Trichet. We’ll now know the size of bond buying, and whether it was  sterilized  or not.
  • US Non-Farm Payrolls came out weaker than expected, weighing on the dollar. This will continue weighing.
  • The Belgians want a bigger bailout fund, angering Germany. Talks about enlargement will also rock the Euro.
  • Currensee Community: 48% are long , 52% are short. These are 1236  open positions in real accounts trading this pair at the moment. The community doesn’t believe in this Euro recovery.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..