{"id":1302,"date":"2009-04-08T11:09:26","date_gmt":"2009-04-08T16:09:26","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1302"},"modified":"2009-04-08T11:09:26","modified_gmt":"2009-04-08T16:09:26","slug":"eurusd-daily-commentary-for-4809","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/08\/eurusd-daily-commentary-for-4809\/","title":{"rendered":"EUR\/USD Daily Commentary for 4.8.09"},"content":{"rendered":"

By Fast Brokers<\/span><\/p>\n

The EUR\/USD is strengthening after yesterday\u2019s large losses in the wake of a better than expected trade balance number out of Germany coupled with encouraging German factory orders data.\u00a0 Germany\u2019s trade balance seems to be bottoming out, indicating stabilization in its export industry.\u00a0 Though Germany\u2019s factory orders data came in below analyst expectations, the number shows a vast improvement from 2009\u2019s previous releases.\u00a0 Germany and France are the heavy-weights in the EU economically, so signs of improvement in German production is welcoming news for a beleaguered EUR\/USD.\u00a0 The EUR\/USD has caught the brunt of the pullback in U.S. equities since Trichet and the ECB offered little certainty concerning future monetary policy shocks.\u00a0 The positive data is allowing the EUR\/USD to rally from oversold conditions as the S&P futures find strength in their key psychological 800 level.\u00a0 Consequently, the currency pair has managed to stay above March 30 lows and is propelling from our 1st tier uptrend line.\u00a0 As a result, the uptrend has been saved, for now.\u00a0 We could see a nice pop in the EUR\/USD as our trend lines collide, signifying the uncertainty prevalent in the marketplace.\u00a0 However, the currency pair may wait for U.S. equities to commit to an uptrend or crash back into their downtrend before it makes another real directional move.\u00a0 The heightened volatility we are witnessing stems from the Federal Reserve\u2019s quantitative easing announcement, and we don\u2019t expect the wild ride to slow any time soon.\u00a0 Fundamentally, we maintain our supports of 1.3223, 1.3192, 1.3162, 1.3126 and 1.3088.\u00a0 To the topside, we hold our resistances of 1.3271, 1.3323, 1.3351, 1.3375 and 1.3413.\u00a0 The 1.35 area acts a psychological barrier again with 1.30 serving as a key psychological cushion.\u00a0 The EUR\/USD is currently exchanging at 1.3245.<\/p>\n

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

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

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither 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 strengthening after yesterday\u2019s large losses in the wake of a better than expected trade balance number out of Germany coupled…<\/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-1302","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1302","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=1302"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1302\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}