Euro dollar is trading very steadily on high ground after Trichet didn’t provide any big surprises. The bank recapitalization talk continues to help the euro, just before the US gets some attention with the all important Non-Farm Payrolls. How will the pair close the week? Here’s a quick update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session:A very quiet session saw the pair consolidating above 1.34.. Current range: 1.34 – 1.3450. Further levels in both directions: Below 1.34, 1.3360, 1.3285, 1.3225, 1.3145, 1.3080, Above: 1.3450, 1.35, 1.3550, 1.3630, 1.37, 1.3750, 1.3838. 1.3450 turned into a significant cap on the movement higher. 1.3360 is support after being broken to the upside. Euro/Dollar in rising channel – click on the graph to enlarge. EUR/USD Fundamentals 6:45 French Trade Balance. Exp. -6.3 billion. Actual -5 billion. 10:00 German Industrial Production. Exp. -1.5%. 12:30 US Non-Farm Payrolls. Exp. +50K. See NFP Preview. 12:30 US Unemployment Rate. Exp. 9.1%. 12:30 US Average Hourly Earnings. Exp. +0.2%. 13:30 US FOMC member Richard Fisher talks. 14:00 US Wholesale Inventories. Exp. +0.6%. 19:00 US Consumer Credit. Exp. 8 billion. * All times are GMT. For more events later in the week, see the Euro to dollar forecast EUR/USD Sentiment Non-Farm Payrolls in Focus: There were mixed signs towards this release. While weekly jobless claims, Manufacturing PMI and ADP provide optimism, the downfall in the employment component of the services sector is worrying and could be reflected in a loss of jobs. Volatility will be high. No Surprises from Trichet: The last rate decision and press conference from Jean-Claude Trichet were very much within expectations. Some members of the ECB probably wanted to cut the rates, but the hawkish stance won over. The ECB pledged to provide liquidity to banks, at a time when they need it. All in all, it was a euro-positive event, especially after the BOE decided on a massive expansion to its QE program. Bank aid getting closer: Was Dexia the trigger for action? After brilliant stress tests in July and after snubbing off Lagarde’s warnings, the EU is stepping up plans to shore the banks. The optimism helps the euro and the whole world.. Greek losing the spotlight: After the decision about the next tranche of aid was delayed until November, Greek “discovered” that it has money until then. But in the meantime, a general strike was declared in Greece. This includes airports, which are paralyzed. The theory of a Greek default at the beginning of November sounds more real, and by then, banks will be ready 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 Daily share Read Next USD/CAD Dives on Excellent Canadian Employment Data Yohay Elam 11 years Euro dollar is trading very steadily on high ground after Trichet didn't provide any big surprises. The bank recapitalization talk continues to help the euro, just before the US gets some attention with the all important Non-Farm Payrolls. How will the pair close the week? Here's a quick update on technicals, fundamentals and what's going on in the markets. EUR/USD Technicals Asian session:A very quiet session saw the pair consolidating above 1.34.. Current range: 1.34 - 1.3450. Further levels in both directions: Below 1.34, 1.3360, 1.3285, 1.3225, 1.3145, 1.3080, Above: 1.3450, 1.35, 1.3550, 1.3630, 1.37, 1.3750, 1.3838. 1.3450 turned… 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.