EUR/USD began the week with some consolidation at higher ground. Is it preparing for another push forward or will it lose ground? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: traded around 1.36. Current range – 1.3576 to 1.37. Further levels in both directions: Below 1.3576, 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 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. This is the key on the downside. Next resistance is at 1.37. Euro/Dollar moving on up – click on the graph to enlarge. EUR/USD Fundamentals – 8:00 French Flash Manufacturing PMI. Exp. 56.8 points. 8:00 French Flash Services PMI. Exp. 55.2. 8:30 German Flash Manufacturing PMI. Exp. 61.1. 8:30 German Flash Services PMI. Exp. 59.2. 9:00 European Flash Manufacturing PMI. Exp. 57.1. 9:00 European Flash Services PMI. Exp. 54.2. 10:00 European Industrial New Orders. Exp. 2.3%. * All times are GMT. For more events later in the week, see the EUR/USD forecast. EUR/USD Sentiment Strategists shift positions in favor of the Euro. Irish prime minister resigned from leading his party. Currently this has little impact. 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 yields are 5.20%- this is great for the Euro. This comes as Fitch has an optimistic view about the Spanish banking sector. 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: 62% are long , 38% are short. These are 1359 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 Signal Factory – Separating Real and False Forex Signals Yohay Elam 11 years EUR/USD began the week with some consolidation at higher ground. Is it preparing for another push forward or will it lose ground? Here's a quick update on technicals, fundamentals and community trends. EUR/USD Technicals Asian session: traded around 1.36. Current range - 1.3576 to 1.37. Further levels in both directions: Below 1.3576, 1.3440, 1.3334, 1.3267, 1.3180, 1.3080, 1.2970, 1.2920, 1.28, 1.2722, 1.2587. Above 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. This is… 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.
