{"id":69683,"date":"2015-03-17T10:43:19","date_gmt":"2015-03-17T14:43:19","guid":{"rendered":"http:\/\/countingpips.com\/?p=69683"},"modified":"2015-03-17T10:45:29","modified_gmt":"2015-03-17T14:45:29","slug":"eurusd-uptrend-continues-as-dollar-retreats","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/eurusd-uptrend-continues-as-dollar-retreats\/","title":{"rendered":"EURUSD Uptrend Continues As Dollar Retreats"},"content":{"rendered":"<div id=\"inves-1446428301\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 17, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <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 rebounds, trades above 1.06.<\/li>\n<li>Eurozone core CPI confirmed at 0.7% YoY in February.<\/li>\n<li>ZEW German investor confidence climbs to 13-month high in March.<\/li>\n<\/ul>\n<p>The EURUSD advanced for a second consecutive day on Tuesday, as core Eurozone inflation was confirmed higher in February, while German investor confidence soared to a 13-month high in March.<\/p>\n<p>The EURUSD climbed 0.45 percent to 1.0617, easing off an intraday high of 1.0651. The pair is testing the initial resistance at 1.0636. A clean break above this level would lead to 1.0704. On the downside, near-term support is at 1.0484.<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-158.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-199287\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-158.png\" alt=\"Screenshot (158)\" width=\"737\" height=\"488\" \/><\/a><\/p>\n<p>In economic data, Eurozone consumer prices declined in February, the European Commission confirmed on Tuesday. Annual CPI in the 19-member currency zone fell 0.3 percent, compared to 0.6 percent in January.<\/p><div id=\"inves-3501302062\" 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>Energy prices increased 1.6 percent in February but were down 7.9 percent compared to year-ago levels. Global crude prices are forecast to remain under pressure in the short-run as the supply glut intensifies.<\/p>\n<p>So-called core inflation, which strips away volatile goods such as food and energy, rose at an annual rate of 0.7 percent in February, compared to 0.6 percent the previous month.<\/p>\n<p>The European Commission also said Eurozone employment rose 0.1 percent in the fourth quarter and 0.9 percent year-on-year, adding further evidence the currency region was slowly gaining momentum.<\/p>\n<p>In a separate report on Tuesday the Centre for European Economic Research (ZEW) said investor sentiment in Germany reached a 13-month high in March, a sign Europe\u2019s largest economy had turned a corner.<\/p>\n<p>The closely monitored investor confidence index rose 1.8 points to 54.8 in March. That was the fifth consecutive monthly gain and the highest level since February 2014. The euro-wide investor sentiment index surged nearly ten points to 62.4.<\/p>\n<p>\u201cEconomic sentiment in Germany remains at a high level. In particular, the continuing positive development of the domestic economy confirms the expectations of the experts,\u201d said ZEW president Clemens Fuest in a statement.<\/p>\n<p>He added, \u201cAt the same time, limited progress is being made with regard to solving the Ukraine conflict and the sovereign debt crisis in Greece. This has a dampening effect on sentiment.\u201d<\/p>\n<p>A recent poll by German broadcaster ZDF found that more than half of Germans want Greece out of the Eurozone. Tensions between Greece and Germany have reached a boiling point since the far-left Syriza party assumed control of the Hellenic Parliament in January. With months of bitter negotiations still to go, patience is running out, according to a member of the German government.<\/p>\n<p>\u201cIt\u2019s now, first of all, about what the Greek government will implement in the necessary reform steps that it has promised,\u201d said Michael Grosse-Br\u00f6mer, who serves as the parliamentary whip of Chancellor Angela Merkel. \u201cThey must now finally deliver and not make a new proposal every other week.\u201d<\/p>\n<p><strong>By <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","protected":false},"excerpt":{"rendered":"<p>By fxtimes.com Technical Bias: Bearish Highlights:\u00a0 EURUSD rebounds, trades above 1.06. Eurozone core CPI confirmed at 0.7% YoY in February. ZEW German investor confidence climbs to 13-month high in March. The EURUSD advanced for a second consecutive day on Tuesday, as core Eurozone inflation was confirmed higher in February, while German investor confidence soared to [&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-69683","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69683","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=69683"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69683\/revisions"}],"predecessor-version":[{"id":69686,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69683\/revisions\/69686"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=69683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=69683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=69683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}