EUR/USD dipped below the all-important line, bot now managed to get back above it. It’s quite a busy day today. Will it recover? Here’s a quick update on technicals, fundamentals and community trends. * Post updated 11:20 GMT. EUR/USD Technicals Asian session: Gradually lost ground and got close to support – fell below in the wake of the European session. Current range – 1.3334 to 1.3440. 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 – we’ve seen false breakouts in both directions. Was yesterday’s rise a false breakout? 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 – 7:00 German PPI. Exp. +0.5%. Actual +0.7% – Euro positive. 9:00 ECB Monthly Bulletin. 13:30 US Unemployment Claims. Exp. 422K. 15:00 US Existing Home Sales. Exp. 4.88 million. 15:00 US Philly Fed Manufacturing Index. Exp. 20.7 points. 15:00 European Consumer Confidence. Exp. -12 points. 15:00 US CB Leading Index. Exp. +0.7%. * All times are GMT. For more events later in the week, see the EUR/USD forecast. EUR/USD Sentiment A report about the Spanish government bailing out banks is pushing Spanish bond yields higher, at 5.40%, after they fell yesterday. The Irish banks find new money at their own central bank. Some say that the Irish central bank is printing Euros. Trichet ignores this. The market was very optimistic last week, but here are 5 doubts about the Euro rally. 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. Less fear from a rate hike helps the Euro – a rate hike is also pushed by German PPI. Currensee Community: 61% are long , 39% are short. These are 1399 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 MT4 iPhone Application Introduced by Leverate Yohay Elam 12 years EUR/USD dipped below the all-important line, bot now managed to get back above it. It's quite a busy day today. Will it recover? Here's a quick update on technicals, fundamentals and community trends. * Post updated 11:20 GMT. EUR/USD Technicals Asian session: Gradually lost ground and got close to support - fell below in the wake of the European session. Current range - 1.3334 to 1.3440. 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… 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.