EUR/USD broke above another important resistance line. Will the pair hold on to these amazing gains when the markets close? Here’s a quick update on , fundamentals, fundamentals, and community trends.
EUR/USD after Itish decision.
EUR/USD Technicals
- Asian session: Quiet session ranging from 1.3630 to 1.3680.
- Current Range between 1.3530 to 1.37.
- Euro just broke above 1.37.
- Further levels in both direcstions: Below, 1.35, 1.3430, 1.3365, 1.3267, 1.3160, and 1.3110. Above 1.37, 1.3850, 1.40 and 1.42.
- Wide uptrend channel: Uptrend resistance began on Sep. 8 and uptrend support on Sep. 13. Trading is characterized with many hours of consolidation, followed by few hours of sharp rises.
EUR/USD Fundamentals
All times are GMT. Most important events emphasized.
- 8:00 Final Manufacturing PMI. Exp. 53.6. Actual 53.7.
- 9:00 Unemployment Rate. Exp. 10%.
- 12:30 US Core PCE Price Index. Exp +0.1%.
- 12:30 US Personal Spending. Exp. +0.4%.
- 13:55 US Revised Consumer Sentiment. Exp. 67.1
- 14:00 US ISM Manufacturing PMI. Exp. 54.6.
EUR/USD Sentiment
- The big question regarding Ireland remains about the “haircut” that debt holders will have to pay. News about the size of concessions can still rock the Euro.
- Debt issues never went away, but the market disregards them. Apart from the Irish issues, Spain got a credit rating downgrade from Moody’s.
- The inevitable second round of quantitative easing in the US still weighs on weakens the dollar.
- Holding on to 1.37 is important for the Euro.
- The rush to close positions on Friday always triggers lots of action.
- US Manufacturing PMI is the first sign for the Non-Farm Payrolls on Friday. High volatility is expected around this event.
- Currensee Community: 51% are long, 49% are short, slightly down from 52:48 yesterday. These are 1065 open positions in real accounts trading this pair at the moment.
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