Search ForexCrunch

EUR/USD reached fresh highs and now approaching resistance. A day before the big Irish decision, here’s a quick update on , technicals, fundamentals, and community trends.

eur usd forecast September 29

EUR/USD moving forward.

EUR/USD Technicals

  • Asian session:  EUR/USD consolidating just under 1.3600. Break came at the wake of the London session.
  • Current Range between 1.3530 to 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 a few hours of sharp rises.

EUR/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 17:15: US FOMC member Eric Rosengren talks.

EUR/USD Sentiment

  • The inevitable second round of quantitative easing in the US weakens the dollar.
  • Debt issues never went away, but the market currently disregards Irish and  Portuguese high spreads. Worries can return anytime.
  • On Thursday, the Irish government will present plans for dealing with the “hot potato” – the Anglo-Irish bank. We’re now in the “calm before the storm”
  • 1.37 is important on the upside
  • Currensee Community: 53% are long, 47% are short, slightly up from 53:47 yesterday. These are 1023open 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..