EUR/USD managed to settle above 1.40, but is still struggling with resistance, hours before the long-awaited QEII decision. Here’s a quick update on technicals, fundamentals and community trends. EUR/USD holding on to 1.40 EUR/USD Technicals Asian session: EUR/USD traded in a narrow range between 1.40 to 1.4030 Current Range between 1.3950 to 1.4030 Further levels in both directions: Below, 1.3950, 1.3830, 1.37, 1.3637, 1.3530, 1.3430 and 1.3333. Above 1.4030, 1.4217, 1.4450 and 1.4580. 1.4030 proved to be a strong line in the past, but EUR/USD couldn’t hold on to it. 1.3830 important line below. EUR/USD Fundamentals All times are GMT. Most important events emphasized. 12:30 ADP Non-Farm Payrolls. Exp. +21K. 14:00 ISM Non-Manufacturing PMI. Exp. 53.5 points. Important Hint for NFP on Friday. 14:00 Factory Orders. Exp. +1.3%. 18:15 QE2 Decision. One of the most important events of the year. The size of quantitative easing and the wording of the FOMC Statement will rock the markets for many days. EUR/USD Sentiment As expected, Republicans won the House. This doesn’t have a significant impact on currencies. It was expected. Debt issues never went away, but the market disregards them. Note that the Greek prime minister said that debt might be restructured, creating anger within the European Union. Also Ireland is in trouble. The inevitable second round of quantitative easing in the US is a done deal, but will probably be of a lesser scale than thought earlier. A huge QE2 will send the Euro higher. A weak one will boost the dollar. Volatility will remain high for a long time. Currensee Community: 55% are short, 45% are long. More shorts than yesterday (52:48). These are 1131 open positions in real accounts trading this pair at the moment. Is the community seeing the dollar escape the bearish trend with QE2? Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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 Forex News Today: Daily Trading News share Read Next QE2 Update – Expectations Narrowing Down Yohay Elam 12 years EUR/USD managed to settle above 1.40, but is still struggling with resistance, hours before the long-awaited QEII decision. Here's a quick update on technicals, fundamentals and community trends. EUR/USD holding on to 1.40 EUR/USD Technicals Asian session: EUR/USD traded in a narrow range between 1.40 to 1.4030 Current Range between 1.3950 to 1.4030 Further levels in both directions: Below, 1.3950, 1.3830, 1.37, 1.3637, 1.3530, 1.3430 and 1.3333. Above 1.4030, 1.4217, 1.4450 and 1.4580. 1.4030 proved to be a strong line in the past, but EUR/USD couldn't hold on to it. 1.3830 important line below. EUR/USD Fundamentals All times are GMT.… 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.