EUR/USD fell again towards the support line, on a very busy day, that will just get busier. How will it close the week? Here’s a quick update on technicals, fundamentals and community trends.
EUR/USD around 1.3830.
- Asian session: EUR/USD held couldn’t climb above 1.3950.
- Current Range between 1.37 to 1.3830
- Further levels in both direcstions: Below, 1.37, 1.3637, 1.3530, 1.3430 and 1.3333. Above 1.3830, 1.3950, 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 lost – bearish sign – 1.37 next level.
All times are GMT. Most important events emphasized.
- 6:00 German Retail Sales. Exp. +0.5%. Actual 2.3%. Disappointment.
- 9:00 CPI Flash Estimate. Exp. 1.7%. Actual 1.9%. Inflation is climbing in Europe.
- 9:00 Unemployment rate. Exp. 10.1%. Actual 10.1%.
- 12:30 US Advance GDP. Exp. 2.1%.
- 13:45 Chicago PMI. Exp. 58.1 points.
- 13:55 Revised consumer sentiment. 68.2 points.
- Debt issues never went away, but the market disregards them. Maybe they will get more attention, especially with budgets in Ireland and Portugal.
- 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. – comments regarding the size will have a strong impact on EUR/USD.
- Currensee Community: 54% are long, 46% are short. Down from 57:43 yesterday. These are 1101 open positions in real accounts trading this pair at the moment.
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..Get the 5 most predictable currency pairs