EUR/USD is falling and losing multiple support lines, as Middle East troubles and the Christchurch earthquake scare the markets. Where will it stop? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Euro/Dollar began dropping and lost 1.3610. More lines were lost later. Current range – 1.35 – 1.3570 Further levels in both directions: Below 1.35, 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970. Above: 1.3570, 1.3610, 1.37, 1.3760, 1.3830, 1.3950, 1.4030, 1.4160 and 1.4230. 1.3440 is important support below – just proved itself last week – we are not so far from this line anymore. The failure to conquer the critical 1.3760 and more recently 1.37 is a bearish sign Euro/Dollar below free falling- click on the graph to enlarge. EUR/USD Fundamentals – 7:00 GfK German Consumer Climate. Exp. 5.8 points. Actual: 6 points. 14:00 European NBB Business Climate. Exp. 4.6 points. 14:00 S&P/CS Composite-20 HPI. Exp. -2.2%. 15:00 CB Consumer Confidence. Exp. 65.1 points. 15:00 Richmond Manufacturing Index. Exp. 18 points. 18:00 FOMC member Narayana Kocherlakota talks. * All times are GMT. For more events later in the week, see the EUR/USD forecast EUR/USD Sentiment Earthquake in Christchurch New Zealand is devastating with many casualties. The earthquake is felt all over the financial markets and boosts the US dollar – a currency that rises in fear mode. The situation in Libya is becoming chaotic – a civil war. As Libya is an exporter of oil, the mess sends the prices higher and this endangers global growth – yet again helping the US dollar. The hawkish comment by ECB member Bini Smaghi on Friday about raising the rates sent the Euro skyrocketing. China raised the Reserve Ratio Rate. This is not the first time, but the 0.50% scale is rather large. This temporary hurt the Euro. Irish debt is a big burden: There are growing talks of a default in Ireland. Opposition party in Ireland, Fine Gael, wants a haircut for senior bondholders. Now they have a precedent of a default in Denmark to rely on. The current government left this issue for the next government. Elections are held on Friday, February 25th. A bailout for Portugal is getting closer as bond yields are rising and becoming unsustainable again. Currensee Community: 61% are long , 39% are short. These are 1353 open positions in real accounts trading this pair at the moment. 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 EUR/USD Daily share Read Next FXStreet to Manage Forex Crunch Advertising Yohay Elam 12 years EUR/USD is falling and losing multiple support lines, as Middle East troubles and the Christchurch earthquake scare the markets. Where will it stop? Here's a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Euro/Dollar began dropping and lost 1.3610. More lines were lost later. Current range - 1.35 - 1.3570 Further levels in both directions: Below 1.35, 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970. Above: 1.3570, 1.3610, 1.37, 1.3760, 1.3830, 1.3950, 1.4030, 1.4160 and 1.4230. 1.3440 is important support below - just proved itself last week - we are not so far from this line anymore. The… 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.