EUR/USD continues to have a slow week, as the pair trades quietly in the mid-1.35 range. In economic news, US Pending Homes Sales looked weak, posting a fifth straight decline. On Tuesday, we’ll get a look at US Building Permits data for September and October, as the former was suspended due to the government shutdown last month. Today’s other key event is CB Consumer Confidence. There are no Eurozone releases on Tuesday. Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar. EUR/USD Technical EUR/USD edged higher late in the Asian session, consolidating at 1.3540. The pair is steady in the European session. Current range: 1.3440 to 1.3500. Further levels in both directions: Below: 1.3440, 1.34, 1.3320, 1.3240, 1.3175, 1.31, 1.3050, 1.3000 and 1.2940. Above: 1.3500, 1.3570, 1.3650, 1.3710, 1.3800 and 1.3870. 1.3500 is providing weak resistance. 1.3570 follows. On the downside, 1.3440 is fluid. This is followed by 1.34. EUR/USD Fundamentals 13:30 US Building Permits. Exp. 0.94M. 13:30 September Data – US Building Permits. Exp. 0.94M. 14:00 US S&P/CS Composite-20 HPI. Exp. 13.0%. 14:00 US HPI. Exp. 0.5%. 15:00 US CB Consumer Confidence. Exp. 72.2 points. 15:00 US Richmond Manufacturing Index. Exp. 3 points. *All times are GMT For more events and lines, see the Euro to dollar forecast. EUR/USD Sentiment US Housing Numbers Falter: The week got off to a disappointing start as Pending Home Sales posted a decline of -0.6%, well off the estimate of 2.2%. The key indicator has now posted five straight declines, pointing to trouble in the housing sector. We’ll get a look at construction numbers on Tuesday, and weak releases could hurt the dollar. Fed minutes point to QE: Speculation that the Fed is getting ready to press the taper trigger increased following the release of the Federal Reserve minutes last week. In the minutes, policymakers said the current QE level of $85 billion monthly purchases of bonds could taper “in coming months” if the economy continued to improve. The dollar was up sharply after the minutes were released. Earlier in the week, Fed chair Bernard Bernanke said that the employment market improvement was “meaningful” and that interest rates would likely remain low even after QE ends. ECB mulls negative deposit rate: With inflation remaining very weak despite recent rate cuts, the ECB is considering cutting the deposit rate, which currently stands at 0.0%. However, a move into negative territory would represent unchartered territory and could have negative consequences for the economy. So if the ECB does go ahead and reduce to deposit rate, we could see a “mini cut” of less than 0.25%. The OECD is also expressing concern about the dangers of deflation in the Eurozone and is urging the ECB to consider implementing quantitative easing. ECB Governing Council member Ardo Hansson confirmed that the ECB could take further steps such as lowering the benchmark or deposit rates. German Business Confidence Improves: German data continues to look good, and Ifo Business Climate wrapped up the week on a high note. The indicator jumped to 109.3 points, up from 107.4 a month earlier. Earlier in the week, German PMIs pointed to continuing expansion in the services and manufacturing sectors. However, other members in the Eurozone are lagging behind Germany, and record low interest rates have not boosted inflation or economic growth in the region. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher EUR/USD DailyForex News Today: Daily Trading News share Read Next How to start trading forex successfully Guest 9 years EUR/USD continues to have a slow week, as the pair trades quietly in the mid-1.35 range. In economic news, US Pending Homes Sales looked weak, posting a fifth straight decline. On Tuesday, we'll get a look at US Building Permits data for September and October, as the former was suspended due to the government shutdown last month. Today's other key event is CB Consumer Confidence. There are no Eurozone releases on Tuesday. Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar. EUR/USD Technical EUR/USD edged higher late in the Asian session, consolidating at… 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.