{"id":69522,"date":"2015-03-13T11:26:27","date_gmt":"2015-03-13T15:26:27","guid":{"rendered":"http:\/\/countingpips.com\/?p=69522"},"modified":"2015-03-13T11:28:11","modified_gmt":"2015-03-13T15:28:11","slug":"eurusd-rally-short-lived-as-push-to-parity-continues","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/eurusd-rally-short-lived-as-push-to-parity-continues\/","title":{"rendered":"EURUSD Rally Short-Lived As Push To Parity Continues"},"content":{"rendered":"<div id=\"inves-17425557\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 13, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p><strong>Technical Bias: Bearish<\/strong><\/p>\n<p><b>Highlights:\u00a0<\/b><\/p>\n<ul>\n<li>EURUSD declines 110 pips to 1.0510, reversing Thursday\u2019s rally.<\/li>\n<li>Concerns about ECB bond buying, Greek debt crisis outweigh weaker than forecast US data.<\/li>\n<li>Greek PM Tsipras meets with EU president Juncker on Friday.<\/li>\n<\/ul>\n<p>The EURUSD was back on its heels Friday, tumbling to a low of 1.0504 on renewed concerns about the Eurozone economy and the Greek debt crisis.<\/p>\n<p>The EURUSD was trading at 1.0510 in the early North American session, declining around 110 pips. The pair\u2019s next support target is 1.0414. On the upside, the first resistance test is located at 1.0715.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-149.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-199243\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-149.png\" alt=\"Screenshot (149)\" width=\"746\" height=\"492\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The euro rebounded from 12-year lows on Thursday, as the EURUSD climbed to a high of 1.0675 following disappointing US retail sales. Those gains were completely reversed on Friday, as the EURUSD paces for a weekly loss of 3 percent.<\/p><div id=\"inves-1231699208\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>In economic data, US consumer sentiment declined unexpectedly in March, reflecting renewed concerns about tepid wage growth and rebounding gas prices. The Thomson Reuters\/University of Michigan consumer sentiment index declined 4.2 points to 91.2, a four-month low.<\/p>\n<p>Separately, the US producer price index \u2013 a gauge of inflation in primary markets \u2013 declined at an annual rate of 0.6 percent in February. That was the fourth consecutive decline, reflecting tame inflationary pressures across the US economy.<\/p>\n<p>Concerns about the Eurozone outweighed weak US data on Friday, as the European Central Bank embarked on a \u20ac60 billion a month asset purchasing program. The program, which was announced in January and set into motion this past Monday, will inject up to \u20ac1 trillion into the Eurozone in the next year-and-a-half in an effort to prop up the struggling economy. While the ECB appears confident QE would boost economic growth and inflation, some officials have expressed concerns that excessive stimulus could send stronger member-states such as Germany into overdrive. Such a scenario could widen the gap between rich and poor and complicate already fragile negotiations between Greece and its Eurozone partners.<\/p>\n<p>Greek Prime Minister Alexis Tsipras met with European Commission president Jean-Claude Juncker on Friday, who called on European governments to show solidarity with Greece amid ongoing debt negotiations. The meetings came just one day after German finance minister Wolfgang Schauble said the lack of progress was increasing the likelihood of an accidental Greek exit from the currency region.<\/p>\n<p>\u201cAs the responsibility, the possibility to decide what happens only lies with Greece, and because we don\u2019t exactly know what those in charge in Greece are doing, we can\u2019t rule out,\u201d Schauble told an Austrian broadcaster on Thursday.<\/p>\n<p>Juncker was more optimistic on Friday. \u201cI don\u2019t think we have made sufficient progress,\u201d he told reporters, adding \u201cI\u2019m totally excluding a failure\u2026 This is not a time for division. This is a time for coming together.\u201d<\/p>\n<p><strong>By\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0fxtimes.com Technical Bias: Bearish Highlights:\u00a0 EURUSD declines 110 pips to 1.0510, reversing Thursday\u2019s rally. Concerns about ECB bond buying, Greek debt crisis outweigh weaker than forecast US data. Greek PM Tsipras meets with EU president Juncker on Friday. The EURUSD was back on its heels Friday, tumbling to a low of 1.0504 on renewed concerns [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69522","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=69522"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=69522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=69522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=69522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}