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 moving forward.
- 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.
All times are GMT. Most important events emphasized.
- 17:15: US FOMC member Eric Rosengren talks.
- 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.
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