EUR/USD Sep. 29 – At New Highs Before Irish Decision
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EUR/USD Sep. 29 – At New Highs Before Irish Decision

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..

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.