EUR/USD is now above the strong resistance line, but is very hesitant. Will the breakout be confirmed, or is it again, a false break? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Slowly moved up and passed resistance. Current range – 1.3440 to 1.3576. Further levels in both directions: Below 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 1.3576, 1.37, 1.3786, 1.3950, 1.4030 and 1.4220. 1.3440 is the key level – it has stopped the Euro so many times in the past – a confirmation is necessary for the breakout, as the move isn’t sharp, and we’ve seen false breakouts around this line more than once. Important support is only at 1.3080, with 1.2970 being the second important line. Euro/Dollar moving on up – click on the graph to enlarge. EUR/USD Fundamentals – 9:00 European Current Account. Exp. -10.2 billion. 13:30 US Building Permits. Exp. 560K 13:30 US Housing Starts. Exp. 550K. * All times are GMT. For more events later in the week, see the EUR/USD forecast. EUR/USD Sentiment Less fear from a rate hike helps the Euro. The Irish banks find new money at their own central bank. Some say that the Irish central bank is printing Euros. Trichet ignores this. Spanish bond yields remain high, 5.48%. When the focus will return to the debt issues, the high yields will weigh on the currency. The market was very optimistic last week, but here are 5 doubts about the Euro rally. A bailout for Portugal is fading away, as bond auctions were quite successful – this includes also Spain and Italy’s auctions. 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 1348 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 Video – Key Events and Technical Levels Yohay Elam 12 years EUR/USD is now above the strong resistance line, but is very hesitant. Will the breakout be confirmed, or is it again, a false break? Here's a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: Slowly moved up and passed resistance. Current range - 1.3440 to 1.3576. Further levels in both directions: Below 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 1.3576, 1.37, 1.3786, 1.3950, 1.4030 and 1.4220. 1.3440 is the key level - it has stopped the Euro so many times in the past - a confirmation is necessary for… 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.