EUR/USD is trading in a limited range just under resistance at 1.2660, despite a lot going on in the markets. It managed to stabilize after the falls seen yesterday. Fears of a German recession worsened with yesterday’s data and forecast downgrade. In his first speech today, Draghi did not talk about monetary policy but he speaks again later on. In addition, we have important US figures. It’s about to get busy Here’s a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair traded in a narrow range under resistance at 1.2660. Current range: 1.26 to 1.2660 Further levels in both directions: Below: 1.27, 1.2660, 1.26, 1.2570 and 1.25. Above: 1.2750, 1.28 and 1.2860 1.2750 is still resistance, despite the temporary breach. 1.2660 strengthens as support. EUR/USD Fundamentals 6:00 German Final CPI. Exp. 0%, actual 0%. 7:00 ECB president Mario Draghi talks. The speech focused on banking and not on monetary policy. 12:30 US retail sales. Exp. +0.2%.core retail sales. Exp. -0.1%. 12:30 US PPI, exp. +0.1%. Core exp. +0.1%. 12:30 Empire State Manufacturing Index. Exp. 20.3 points. 14:00 US Business inventories. Exp. +0.4%. 18:00 ECB president Mario Draghi speaks. 18:00 US Beige Book. 18:00 US Federal Budget Balance. Exp. 82.3 billion. * All times are GMT. For more events and lines, see the Euro to dollar forecast. EUR/USD Sentiment German forecasts downgraded: German business confidence turned negative for the first time since 2012. The ZEW figure was later followed by another disappointment: the German government cut forecasts quite sharply. Both growth and inflation look weak now. Global gloom: The gloom around the world, coming from IMF worries among others is hitting the stock market and resulting in a sharp drop in oil prices. So far, the yen seems to be the big winner, with the dollar trailing behind. The euro is relatively stable, but perhaps this is an opportunity to sell the euro. Euro rate hikes not before 2017: In his speech in Washington, Draghi maintained a dovish tone, vowing to do what is necessary to battle low inflation and repeated his usual stance. What he also said is that markets see a move on the rates only in 2017, and this is certainly a long time off. Will he repeat this in the second speech? Greek worries: Greece and the troika are on a collision course once again. While the country has stayed away from the news for quite some time, it could creep back. Adding political instability and a primary surplus to the mix already sent Greek bond yields higher, above 7%. State of the US consumer: While expectations for a rate hike in the US have been somewhat pushed back, the data remains positive. The biggest part of the US economy is consumption, and we will get an updated picture for consumption in the release of retail sales. On Friday we’ll get consumer confidence. In our latest podcast, we talk about the US labor market, run down the FOMC minutes, reflect on falling oil and discuss next week’s events: Download it directly here. Subscribe to our podcast on iTunes. 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 DailyForex News Today: Daily Trading News share Read Next EUR/USD, GBP/USD, USD/JPY Pivot Points and Technical Analysis John Benjamin 8 years EUR/USD is trading in a limited range just under resistance at 1.2660, despite a lot going on in the markets. It managed to stabilize after the falls seen yesterday. Fears of a German recession worsened with yesterday's data and forecast downgrade. In his first speech today, Draghi did not talk about monetary policy but he speaks again later on. In addition, we have important US figures. It's about to get busy Here's a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair traded in a narrow range under resistance at 1.2660. Current range: 1.26 to… 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.