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EUR/USD manages to stabilize in lower ground as the G-20 summit begins and many markets are on holiday. Will G-20 statements rock the pair? Here’s a quick update on technicals, fundamentals and community trends.

eur usd november 11


Euro/Dollar approaching 1.37

EUR/USD Technicals

  • Asian session:  Narrow range trading above 1.37.
  • Current Range between 1.37 to 1.3830.
  • Further levels in both directions: Below,  1.37, and 1.3637.  Above  1.3830,  1.3950, 1.4030, 1.4030, 1.4160, 1.4217, 1.4280, 1.4450 and 1.4580.
  • 1.37 significant lower point
  • 1.4030 significant higher point.

EUR/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 9:00 ECB Monthly Bulletin.

EUR/USD Sentiment

  • Irish debt issues are becoming a problem once again, with Irish banks leading the pack. The gap between Irish and German bonds has widened. There are doubts on whether Ireland can pay its debt.
  • QE2 has a stronger effect on commodity currencies than the majors, although Europe begins to drag down everybody.
  • G-20 statements will rock the markets. No significant agreement is expected, but any mention of currencies will move the markets. FX is high on the agenda.
  • Currensee Community: 58% are long, 42% are short. These are 1121 open positions in real accounts trading this pair at the moment. Is the community seeing the dollar escape the bearish trend with QE2?

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