{"id":10050,"date":"2010-06-08T08:03:49","date_gmt":"2010-06-08T12:03:49","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10050"},"modified":"2010-06-08T08:03:49","modified_gmt":"2010-06-08T12:03:49","slug":"eurusd-consolidates-around-1-20","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/eurusd-consolidates-around-1-20\/","title":{"rendered":"EUR\/USD Consolidates Around 1.20"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The EUR\/USD is drifting between 1.19-1.20 after setting a higher low on Monday with investors trying to establish a near-term bottom.\u00a0 However, considerable downward pressure obviously remains and we\u2019re currently witnessing investors biting on oversold conditions.\u00a0 All eyes remain on the EU due to the relatively light data wire across the globe.\u00a0 EU finance ministers will meet today and it is likely they will issue damage control statements which could in effect prop up the EUR\/USD until Thursday\u2019s ECB meeting.\u00a0 On the other hand, should the finance ministers not step up with reassuring comments then the EUR\/USD could find itself under selling pressure once again.\u00a0 Meanwhile, a little more near-term upswing in the currency pair wouldn\u2019t be too surprising considering the extent of last week\u2019s decline.\u00a0 1.20 could become a near-term battle ground if the EUR\/USD can get a little boost and pop above.\u00a0 Either way, psychological forces are in control for the time being so investors should keep a close eye on the news wires for any new developments.<\/p>\n<p>Technically speaking, the EUR\/USD faces multiple layers of topside barriers, beginning with 1.20 and 6\/7 highs.\u00a0 As for the downside, the EUR\/USD has limited near-term support besides February 2006 lows, though as we said it\u2019s possible the currency pair will try to form a new base around 1.20.<\/p>\n<p>Present Price: 1.1963<br \/>\nResistances: 1.1977, 1.1991, 1.2017, 1.2034, 1.2052, 1.2064, 1.2083<br \/>\nSupports:\u00a0\u00a0 1.1952, 1.1937, 1.1919, 1.1909, 1.1890, 1.1874<br \/>\nPsychological: February 2006 lows, 1.20, 1.19<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/June8Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/June8Euro.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                                  Brokers<\/strong>.<\/a><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is                                  provided for information purposes only and   under    no               circumstances        should        be regarded    neither   as  an       investment        advice nor as a           solicitation     or      an    offer     to sell\/buy     any       financial  product.          FastBrokers     assumes      no             responsibility   or  liability    from  gains  or         losses       incurred by      the            information herein      contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss                                  in trading futures and foreign  exchange.        Please           carefully        review     all      risk   disclosure      documents    before        opening an    account      as   these           financial       instruments  are   not      appropriate      for all          investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; The EUR\/USD is drifting between 1.19-1.20 after setting a higher low on Monday with investors trying to establish a near-term bottom.\u00a0 However, considerable downward pressure obviously remains and we\u2019re currently witnessing investors biting on oversold conditions.\u00a0 All eyes remain on the EU due to the relatively light data wire across the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/eurusd-consolidates-around-1-20\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Consolidates Around 1.20&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10050","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10050"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}