{"id":10339,"date":"2010-06-17T08:44:55","date_gmt":"2010-06-17T12:44:55","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10339"},"modified":"2010-06-17T08:44:55","modified_gmt":"2010-06-17T12:44:55","slug":"eurusd-pops-as-eu-leaders-meet","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/17\/eurusd-pops-as-eu-leaders-meet\/","title":{"rendered":"EUR\/USD Pops as EU Leaders Meet"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is popping higher from its recent consolidation despite the fact that the spread between Spanish and German bonds have reached an all-time high.\u00a0 Spain still managed to auction off over $3 billion worth of bonds, boosting investor confidence that Spain will be able to support itself on the open market.\u00a0 Additionally, investors are feeling confident after news that Spain plans on releasing the results of its bank stress tests.\u00a0 Spain going public with its stress test results is leading some investors to believe that its financial industry may not be in as bad of shape as previously anticipated.\u00a0 Meanwhile, EU leaders are meeting for a one day summit to discuss means of better coordinating financial policy throughout the union.\u00a0 Leaders are emphasizing greater financial regulation and investors will be paying close attention to comments emanating from the summit.\u00a0 Overall, it seems the Euro is receiving a steady inflow of money as the currency outperforms the Pound, highlighted by a solid bounce in the EUR\/GBP.\u00a0 Investors are now waiting for America\u2019s data set, which includes CPI, the Philly Index, and weekly unemployment claims.\u00a0 The data wire will be relatively quiet tomorrow, meaning today\u2019s U.S. data and results from the EU summit should be the driving forces across the board over the remainder of the trading week.<\/p>\n

Technically speaking, the EUR\/USD still faces downtrend lines, though the near-term barriers are withering.\u00a0 The EUR\/USD does face topside obstacles in the form of intraday and 5\/28 highs.\u00a0 Additionally, the psychological 1.25 level could serve as a solid barrier should it be tested.\u00a0 As for the downside, the EUR\/USD has growing near-term uptrend lines serving as technical cushions along with intraday and 6\/15 lows.<\/p>\n

Present Price: 1.2387
\nResistances: 1.2415, 1.2437, 1.2466, 1.2488, 1.2526, 1.2546, 1.2562
\nSupports:\u00a0\u00a0 1.2380, 1.2357, 1.2332, 1.2313, 1.2294, 1.2267, 1.2243
\nPsychological: June lows and highs, 1.23, 1.25, 1.20<\/p>\n

\"\"<\/a><\/p>\n

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers.<\/a><\/strong><\/p>\n

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

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":"

By Fast Brokers – The EUR\/USD is popping higher from its recent consolidation despite the fact that the spread between Spanish and German bonds have reached an all-time high.\u00a0 Spain still managed to auction off over $3 billion worth of bonds, boosting investor confidence that Spain will be able to support itself on the open … <\/p>\n

Continue reading “EUR\/USD Pops as EU Leaders Meet”<\/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-10339","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10339","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=10339"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}