EUR/USD begins the week with a drop to a lower range, after failing again to break higher resistance. Will the drops continue? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Traded higher, but below 1.3400. Fall began when the Europeans joined. Current range – 1.3267 to 1.3334. Further levels in both directions: Below 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 1.3267, 1.3440, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3440 is the key level – it has stopped the Euro so many times in the past. Important support is only at 1.3080. Euro/Dollar dropping – click on the graph to enlarge. EUR/USD Fundamentals – 12:15 US FOMC member Charles Plosser talks. * All times are GMT. For more events later in the week, see the EUR/USD forecast. EUR/USD Sentiment The market was very optimistic last week, but here are 5 doubts about the Euro rally. The market awaits the meeting of EU finance ministers, and especially the decision if the bailout fund will be enlarged. It seems that Germany isn’t keen on adding more money. Spanish bond yields are stable at 5.33%. A bailout for Portugal is fading away, as bond auctions were quite successful – this includes also Spain and Italy’s auctions. The bank holiday in the US, for Martin Luther King, means thinner volume later in the day. Inflation is becoming problematic for Europe. This comes as employment is still high. Double trouble for Europe. Trichet showed concerns about inflation and boosted the Euro. Currensee Community: 62% are long , 38% are short. These are 1298 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 DailyForex News Today: Daily Trading News share Read Next Lebanon Indictments Submitted to Tribunal Yohay Elam 12 years EUR/USD begins the week with a drop to a lower range, after failing again to break higher resistance. Will the drops continue? Here's a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Traded higher, but below 1.3400. Fall began when the Europeans joined. Current range - 1.3267 to 1.3334. Further levels in both directions: Below 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 1.3267, 1.3440, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3440 is the key level - it has stopped the Euro so many times in the past. Important support is only at 1.3080.… 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.