EUR/USD continues losing ground and is dropping towards lower support, as the calendar becomes busy. Will it make another big drop or recover? Here’s a quick update on technicals, fundamentals and community trends.
Euro/Dollar in low range
EUR/USD Technicals
- Asian session: Â A very quiet Asian session left Euro/Dollar in low range.
- Current Range between 1.3530 to 1.3640
- Further levels in both directions: Below 1.3530, 1.3430, 1.3334, 1.3267, 1.3114 and 1.2920. Above  1.3640, 1.37, 1.3830, 1.3950, 1.4030, 1.4030, 1.4160, and 1.4217.
- 1.3334 significant lower point
- 1.3830 significant higher point.
EUR/USD Fundamentals
All times are GMT. Most important events emphasized.
- 7:45 Â French Non-Farm Payrolls. Exp. Â +0.4%.
- 10:00 German ZEW Economic Sentiment. Exp. -5.9 points.
- 10:00 All-European ZEW Economic Sentiment. Exp. +2.3 points.
- 10:00 European CPI. Exp. 1.9%. Core CPI exp. 1%.
- 13:30 US PPI. Exp. +0.7%. Core PPI, exp. +0.2%.
- 14:00 US TIC Long-Term Purchases. Exp. 100 billion.
- 14:15 US Industrial Production. Exp. +0.4%.
- 14:15 US Capacity Utilization Rate. Exp. 75%.
- 15:00 US NAHB Housing Market Index. Exp. 17 points.
EUR/USD Sentiment
- The EU pushes Ireland to take a bailout package quickly, as there are fears that the debt crisis will spread to other countries such as Spain and Italy.
- US figures have been better than expected lately, and today’s numbers, especially TIC Long-Term Purchases, could help the dollar.
- QE2 is heavily overshadowed by the European debt issues.
- Currensee Community: 57% are long, 43% are short. These are 1206 open positions in real accounts trading this pair at the moment. Is the community seeing a Euro recovery underway?
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