EUR/USD Sep. 15- Slipping After the Goldman Move

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EUR/USD shot up on Goldman’s speculation about more dollar printing. After conquering 1.30, it slipped back down. Today’s events can supply lots of action. Here is a quick update on fundamentals, technicals, and community trends.

eur usd forecast september 15

EUR/USD flirting with 1.30. Click to enlarge.

EUR/USD Technicals

  • Asian session:  EUR/USD slipped lower during Asian session.
  • Current Range is between 1.2920 to 1.30.
  • Further levels: Below,  1.2840, 1.2770, 1.2610, 1.2460, 1.2330 and 1.2150. Above   1.30, 1.3110, 1.3267 and 1.3430.
  • EUR/USD is now between 50% and 61.8% Fibonacci retracement of the drop from 1.3334 to 1.2591.

EUR/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 9:00 CPI. Exp. +1.6%.
  • 9:00 Core CPI. Exp. +0.9%.
  • 12:30 US Empire State Manufacturing Index. Exp. +8.7.
  • 12:30 US Import Prices. Exp. +0.2%.
  • 13:15 US Industrial Production. Exp. +0.3%.
  • 13:15 US Capacity Utilization Rate. Exp. 75.1%.

EUR/USD Sentiment

  • Basel II banking accord still positively impacts the Euro. On the other hand, the debt issues never went away, and they are weighing on the common currency.
  • Market is drifting between “risk on” and “risk off” with a tendency to “risk on”. With “risk off”, good US figures boost the dollar and bad ones hurt it. When risk is on, bad US figures boost the dollar. In recent days, we’ve seen more normal behavior.
  • Japanese massive intervention to weaken the yen may indirectly shake EUR/USD – weakening it.
  • 1.2660 is a stronghold on the downside, 1.3110 on the upside.
  • Currensee Community: 53% are Short, 47% are long, down from 56:44 yesterday. Are the tables turning in favor of the Euro? These are 998 open positions in real accounts trading this pair at the moment.

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About Author

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.

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