Euro dollar continues losing ground as a lot of cold water is spilled on the high hopes and grand promises for a comprehensive solution. The pair managed to stabilize at the next support line A big bulk of events awaits us today. Will the fall continue? Here’s a quick update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session: The pair managed to recover during this session but couldn’t tackle the 1.38 line. It resumed its falls during the European session. Current range: 1.37 to 1.38. Further levels in both directions: Below 1.37, 1.3630, 1.3550, 1.35, 1.34, 1.3360, 1.3285. Above: 1.38, 1.3838, 1.39, 1.3950, 1.4030, 1.4160, 1.4282. 1.37 was a tough cap on the way up, and now provides firm support. 1.38 is only a minor line before 1.3838. Euro/Dollar trades quietly on high ground – click on the graph to enlarge. EUR/USD Fundamentals 9:00 German ZEW Economic Sentiment. Exp. -44.8 points. 9:00 Euro-zone ZEW Economic Sentiment. Exp. 45.1 points. 12:30 US PPI. Exp. +0.2%. Core PPI exp. +0.1%. 13:00 US TIC Long-Term Purchases. Exp. 27.8 billion. See how to trade this event with USD/JPY. 14:00 US NAHB Housing Market Index. Exp. 15 points. 17:15 US Federal Reserve Chairman Ben Bernanke talks. * All times are GMT. For more events later in the week, see the Euro to dollar forecast EUR/USD Sentiment French Downgrade?: Moody’s has hinted that the stable outlook of France’s perfect AAA rating is questioned now. This was bound to happen as the French economy stalled in Q2 and the EFSF burden is rising. Chinese slowdown?: China was one of the first major countries to release GDP numbers. The economy grew by 9.1% on an annual basis. This is lower than 9.3% that was expected and points to a significant slowdown. This also weighs on the euro. A 50% Greek haircut coming: The German finance minister joined the chorus calling for a larger haircut for Greece. The CEO of Deutsche Bank is reportedly negotiating a 50% haircut. New deadline: The G-20 finance ministers discussed the debt crisis and talked about presenting a comprehensive plan by October 23, when European leaders meet, and celebrating it on the first week of November, when G-20 heads of state meet . This fits perfectly well with The Plan of a Greek default at the beginning of November. Greece: no aid yet, but strikes underway: While Greece awaits aid, it still needs to pass more austerity measures in parliament on Thursday. A general strike awaits them on Wednesday and Thursday and a strike in Athens is already underway. The army is cleaning the streets. Will the US avoid recession?: The excellent retail sales report from the US convinced many that the US will avoid recession, at least in Q3. Today’s PPI will provide some insight about inflation and the chances of QE3 in the US, which are currently very low. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. EUR/USD Daily share Read Next GBP/USD Falls as Higher British Inflation Adds to Misery Yohay Elam 10 years Euro dollar continues losing ground as a lot of cold water is spilled on the high hopes and grand promises for a comprehensive solution. The pair managed to stabilize at the next support line A big bulk of events awaits us today. Will the fall continue? Here's a quick update on technicals, fundamentals and what's going on in the markets. EUR/USD Technicals Asian session: The pair managed to recover during this session but couldn't tackle the 1.38 line. It resumed its falls during the European session. Current range: 1.37 to 1.38. Further levels in both directions: Below 1.37, 1.3630, 1.3550,… Top 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.