EUR/USD is unable to recover after the blows it received this week, and is trading in a narrow range on low ground. Thanksgiving in the US and more headlines in Europe could mean action later on. Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar around 1.33
EUR/USD Technicals
- Asian session: Â EUR/USD stabilized around 1.33..
- Current Range between 1.3267 to 1.3334 – that turned into a minor line.
- Further levels in both directions: Below  1.3267, 1.3114, 1.2920, 1.2722, 1.2587. Above  1.3334, 1.3430, 1.3640, 1.37, 1.3830, 1.3950, 1.4030, 1.4030, 1.4160, and 1.4217.
- 1.3267 significant lower support.
- 1.3830 significant higher point – far away now.
EUR/USD Fundamentals
No data today due to Thanksgiving in the US and no scheduled European figures.
EUR/USD Sentiment
- The Irish government seems to have lost support to pass the plan – putting a big doubt over the feasibility of the bailout plan.
- Spanish bond auction showed signs of contagion – yields are significantly higher.
- It’s also important to note headlines from Portugal, which is already marked as the next domino.
- Low trading volume expected due to US holiday, yet important news from Europe can find the market unprepared, meaning that technical levels could be temporarily broken. It’s risky trading now.
- Currensee Community: 53% are long , 47% are short- yesterday we had more shorts. These are 1207 open positions in real accounts trading this pair at the moment.
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