EUR/USD is settling in lower ground after the fall yesterday. Is this just a pause before more drops or is it just an adjustment?  Here’s a quick update on technicals, fundamentals and community trends.
EUR/USD under 1.3830.
EUR/USD Technicals
- Asian session: Â EUR/USD traded rather quietly.
- Current Range between 1.37 to 1.3830
- Further levels in both direcstions: Below, 1.37, 1.3637, 1.3530, 1.3430 and 1.3333. Above  1.3830, 1.3950, 1.4030, 1.4217, 1.4450 and 1.4580.
- 1.4030 proved to be a strong line in the past, but EUR/USD couldn’t hold on to it.
- 1.3830 lost – bearish sign – 1.37 next level.
EUR/USD Fundamentals
All times are GMT. Most important events emphasized.
- 7:00 ECB member Axel Weber speaks.
- 8:30 ECB president Jean-Claude Trichet talks.
- 12:30 US Unemployment Claims. Exp. 450K.
EUR/USD Sentiment
- Debt issues never went away, but the market disregards them. Maybe they will get more attention, especially with budgets in Ireland and Portugal.
- The inevitable second round of quantitative easing in the US is a done deal, but will probably be of a lesser scale than thought earlier. – comments regarding the size will have a strong impact on EUR/USD.
- Currensee Community: 57% are long, 43% are short. Yesterday we had more shorts. These are 1085 open positions in real accounts trading this pair at the moment.
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