EUR/USD began the week lower, with a Sunday gap, and makes its way to lower ground. A bailout for Portugal is the main issue. Where will it stop? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Ranged between 1.2870 to 1.2920 – around the previous close Current Range between 1.28 to 1.2970 Further levels in both directions: Below 1.28, 1.2722, 1.2587. Above 1.2970, 1.3080, 1.3180, 1.3267, 1.3334, 1.3440, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.2970 was the lowest level in 4 months, and and now serves as resistance. Significant support is only at 1.2722. Euro/Dollar trending down- click to enlarge graph EUR/USD Fundamentals – 7:45 French Industrial Production. Exp. +1.1%. 12:00 ECB President Jean Claude Trichet talks. * All times are GMT. For more events later in the week, see the EUR/USD forecast. EUR/USD Sentiment A bailout for Portugal is now on the agenda – Germany and France push the small nation to take a bailout US Non-Farm Payrolls disappointed on Friday, but it didn’t cheer the Euro. Inflation is becoming problematic for Europe. This comes as employment is still high. Double trouble for Europe. Trichet isn’t likely to raise the rate later in the week. A consultation paper about defaulting of banks stirs the markets. Greece is denying talks about default, but the European Commission is pushing through with it. Irish Banks also endangered. Currensee Community: 62% are long , 38% are short, more than yesterday. These are 1279 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 Portugal Bailout – 7%Yields Mark the No Return Point? Yohay Elam 12 years EUR/USD began the week lower, with a Sunday gap, and makes its way to lower ground. A bailout for Portugal is the main issue. Where will it stop? Here's a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Ranged between 1.2870 to 1.2920 - around the previous close Current Range between 1.28 to 1.2970 Further levels in both directions: Below 1.28, 1.2722, 1.2587. Above 1.2970, 1.3080, 1.3180, 1.3267, 1.3334, 1.3440, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.2970 was the lowest level in 4 months, and and now serves as resistance. Significant support is only at… 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.