EUR/USD started the week by consolidating under 1.40, drifting again towards uptrend support. Will it dip under the line on this quiet day? Here’s a quick update on technicals, fundamentals and community trends. EUR/USD below 1.40 EUR/USD Technicals Asian session: After starting higher on a weekend gap, EUR/USD slipped to around 1.3950. Current Range between 1.3850 to 1.3950. Further levels in both direcstions: Below, 1.3850, 1.38, 1.3717, 1.3650, 1.3560, 1.35, 1.3430. Above 1.40 1.42 and 1.4450. Wide uptrend channel getting close again: 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. Note that the uptrend support line was slightly modified. The channel will reach the current levels tomorrow at 9:00 GMT. EUR/USD Fundamentals All times are GMT. Most important events emphasized. 6:45 French Industrial Production. Exp. +0.3%. Actual 0%. 17:30 ECB President Jean-Claude Trichet speaks. 18:45 US FOMC member Janet Yellen speaks. EUR/USD Sentiment Debt issues never went away, but the market disregards them. This could change this week, but in the meantime, the downgrade of Ireland hurt the Euro only for a short time. The inevitable second round of quantitative easing in the US still weighs on weakens the dollar, but the size of QE depends on the current situation and especially on jobs which disappointed on Friday. Short positions on the dollar have reached an extreme of 30 billion. In such extreme levels, the question that arises – if everybody’s short, who’s left to sell? We might see a reversal in the dollar. Today is Columbus Day in the US – apart from a sparse calendar, we have thinner volume. The uptrend channel should be closely watched. Currensee Community: 52% are long, 48% are short. These are 1084 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.. 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 Forex News Today: Daily Trading News share Read Next EUR/USD Loses Uptrend Support Yohay Elam 12 years EUR/USD started the week by consolidating under 1.40, drifting again towards uptrend support. Will it dip under the line on this quiet day? Here's a quick update on technicals, fundamentals and community trends. EUR/USD below 1.40 EUR/USD Technicals Asian session: After starting higher on a weekend gap, EUR/USD slipped to around 1.3950. Current Range between 1.3850 to 1.3950. Further levels in both direcstions: Below, 1.3850, 1.38, 1.3717, 1.3650, 1.3560, 1.35, 1.3430. Above 1.40 1.42 and 1.4450. Wide uptrend channel getting close again: Uptrend resistance began on Sep. 8 and uptrend support on Sep. 13. Trading is characterized with many… 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.