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EUR/USD posted gains, as it started the trading week on a positive note. Greek Prime Minister Antonis Samaras stated that he expected his government would reach an agreement with  the troika  before Thursday’s European Union summit. There was also good news out of China, as its trade  surplus widened last month. There are no scheduled European releases today,  while the US will  publish  to key releases –  Core Retail  Sales and Retail Sales.

Here’s an update about technical lines, fundamental indicators and sentiment regarding EUR/USD.

EUR/USD Technical

  • Asian session: Euro/dollar dropped as it   tested 1.29.  The pair has  rebounded  in the European session.
  • Current range: 1.2960 to 1.30.

Further levels in both directions:    

  • Below: 1.2960, 1.29, 1.2814, 1.2750, 1.2670, 1.2624 and  1.2587.
  • Above: 1.30, 1.3060, 1.3105, 1.3170, 1.3290, 1.34, 1.3437 and  1.3480.
  • 1.30, a pivotal  line, is next on the upside.
  • 1.2960 is  back in  a support role as the pair moves higher.

Euro/dollar higher after Greek talks progress, positive Chinese numbers- click on the graph to enlarge.

EUR/USD Fundamentals

  • 12:00 US FOMC Member William Dudley Speaks.
  • 12:30 US Core Retail Sales. Exp. +0.6%.
  • 12:30 US Retail Sales. Exp. +0.7%.
  • 12:30 US Empire State Manufacturing Index. Exp. -4.5 points.
  • 14:00 US Business Inventories. Exp. +0.5%.
  • 16:45 US FOMC Member Jeffrey Lacker Speaks.
For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment