End of Week, Month, Quarter Means End of Rally for the EURUSD?

Euro dollar repairs its conquests and returns to the lower range, following yet another line of support. Correction is already over? European inflation have cheerleaders strong euro, which received quite a few figures rău. The last hours in this week, month and quarter will likely provide more unstable as trading positions are adjusted.

Here's a quick update on technique, fundamentals, and what happens in the markets.

EUR / USD Technical

Asian Session: More drops were seen as a pair struggledaround 1.3550.
• Current range: 1.3430 - 1.35.
• Additional levels in both directions: Below 1.3430,, 1.3385, 1.3322, 1.3250, 1.3180.
• Above: 1.35, 1.3550, 1.3630, 1.37, 1.3750 1.3838, 1.3950
• Looking up, now becomes important resistance 1.3550.
• On the downside, 1.3430 is a significant cushion.
Euro / dollar growth - click on graphic to enlarge.

EUR / USD Fundamentals

• Retail sales in Germany 6:00. Exp. -0.4%. Real -2.9%. Big disappointment.
• 6:45 French consumer spending for two months. Exp. 0.2% and 0.4%. -0.2% And 0.2% real - lower than expected.
• 9:00 IPC European Flash estimate. Exp. 2.5%. Current 3%. Upside surprise, not cheerleaders euro.
• 9:00 European unemployment. Exp. 10%. Real de 10%.
• 12:30 U.S. personal spending. Exp. 0.2%.
• U.S. Core PCE Price Index 12:30. Exp. 0.2%.
• 12:30 U.S. personal income. Exp. 0.1%.
• 1:45 p.m. U.S. Chicago PMI. Exp. 55.8.
• 1:55 p.m. U.S. consumer sentiment. Exp. 57.9 points.
* All times are GMT.
For more events later in the week, see Euro to U.S. dollars forecast

EUR / USD Sentiment

• End of month / quarter flows: Some funds are re-balancing their portfolios at the end of this period, which was characterized by stock market drops and a strong dollar. This is one reason for the growth seen earlier this week. This is now debugging.
• double downgrade New Zealand: a country sound more in the world, has received a credit rating downgrade by two agencies. This sent a month in June lower kiwi and also had a negative effect on the euro.
• China is the land: the manufacturing PMI recently published by HSBC showed a third month of contraction, although it was only marginally below the separation of growth and contraction. This indicates a soft landing. Many talk about a hard landing.
• multi-trillion rescue fund: the hope of rescue fund leverage (EFSF) are winding down as refusals to become louder and louder?. While German lawmakers offered a broad new powers EFSF approval, the message is that this is the last approval.
• Troika in Greece, but the default still looms: Troika EU / IMF is in Greece, after the Parliament approved the property tax there. They are expected to give their stamp on the long-delayed installment of aid to Greece, before the country runs out of money, although those talks run into difficulties. But talking about a default will not die. Here, denials do not help. According to reports, Greece will take place on line for 6 weeks, and get involved in early November. Time will be used for preparations from other countries and in banks. These plans are also awaiting approval of the German Parliament.
• Some positive U.S. News: While the focus remains on the European debt crisis, a significant decrease in U.S. jobless claims and the revision in Q2 GDP up by providing some hope that the U.S. will escape recession. These numbers come beautiful background of many of the poor.