{"id":10815,"date":"2010-07-05T11:15:03","date_gmt":"2010-07-05T15:15:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10815"},"modified":"2010-07-05T11:15:03","modified_gmt":"2010-07-05T15:15:03","slug":"eur-hits-five-week-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/05\/eur-hits-five-week-high\/","title":{"rendered":"EUR Hits Five-Week High"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; The EUR rallied to a five-week high above 1.25 last week, while the  dollar fell broadly after disappointing data heightened worries the U.S.  economic recovery is stalling.<\/p>\n<p>Concerns about euro zone debt and  liquidity problems eased further on Thursday after Spain successfully  sold 3.5 billion EUR of a five-year bond, adding to positive sentiment a  day after European banks borrowed less money than expected from a  European Central Bank (ECB) tender.<\/p>\n<p>Gains in the single European currency accelerated after the EUR broke  key technical resistance levels around 1.25.<\/p>\n<p>As for the week ahead, the most significant news publication seems to  be the Minimum Bid Rate, which is the euro zone\u2019s interest rate  announcement for July. Analysts expect the ECB to leave rates at 1.00%;  however, any rate manipulations are likely to have a sharp impact on the  market. Traders should also follow every publication regarding the  European debt crisis as this issue continues to be the main reason for  the weak Euro.<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>The EUR has dropped significantly versus the CHF in the past few  months, and it is currently traded around 133.20. And now, as evident in  the data below, the weekly chart is giving bullish signals, indicating  that EUR\/CHF pair might go up.<\/p>\n<p>&#8211; Below is the weekly chart of the EUR\/CHF currency pair<br \/>\n&#8211; The technical indicators that are used are the Relative Strength Index  (RSI), and Slow Stochastic.<br \/>\n&#8211; Point 1: The Slow Stochastic indicates an impending bullish cross,  signaling that the next move may be in an upward direction.<br \/>\n&#8211; Point 2: The Relative Strength Index (RSI) indicates that the price of  this cross currently floats in the oversold territory, signaling upward  pressure.<\/p>\n<p><strong>EUR\/CHF \u2013 Weekly Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/EURCHF-Weekly-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/EURCHF-Weekly-Chart.JPG\" alt=\"\" width=\"445\" height=\"527\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                      Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                      may not be suitable for all investors. There is a           possibility      that     you   could sustain a loss of all of   your         investment and      therefore  you     should  not invest   money  that   you      cannot afford to      lose. You  should  be      aware of   all   the    risks   associated with   Foreign    Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; The EUR rallied to a five-week high above 1.25 last week, while the dollar fell broadly after disappointing data heightened worries the U.S. economic recovery is stalling. Concerns about euro zone debt and liquidity problems eased further on Thursday after Spain successfully sold 3.5 billion EUR of a five-year bond, adding &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/05\/eur-hits-five-week-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR Hits Five-Week High&#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-10815","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10815","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=10815"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10815\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}