EUR/USD manages to rise from the lows and to push higher, still within known ranges. Will it break even higher? Here’s a quick update on technicals, fundamentals and community trends.
- Asian session: Euro/Dollar bounced off 1.3570 and pushed through 1.3610.
- Current range – 1.3610 to 1.37.
- Further levels in both directions: Below 1.3610, 1.3576, 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970.
- Above: 1.37, 1.3760, 1.3830, 1.3950, 1.4030, 1.4160 and 1.4230.
- 1.3760 is the key resistance line.
- 1.3440 is important support below, not so close at the moment.
Euro/Dollar small recovery- click on the graph to enlarge.
EUR/USD Fundamentals –
- 11:00 German Industrial Production. Exp. +0.2%.
- 15:00 US IBD/TIPP Economic Optimism. Exp. 52.8 points.
- 18:00 FOMC member Richard Fisher talks
* All times are GMT.
For more events later in the week, see the EUR/USD forecast
- 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.
- ECB member Gonzalez said that the ECB will eventually have to raise the rates – this boosts the Euro.
- The fall in US unemployment rate helped the dollar close the week positively.
- Trichet didn’t lift tone against inflation. This sent the Euro last week.
- Egyptian crisis: There are talks that Mubarak will leave to Germany, aiding a safe transition of power to Suleiman and a resolution to the crisis.
Currensee Community: 61% are long , 39% are short. These are 1367 open positions in real accounts trading this pair at the moment.Get the 5 most predictable currency pairs