{"id":1371,"date":"2009-04-14T10:13:26","date_gmt":"2009-04-14T15:13:26","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1371"},"modified":"2009-04-14T10:13:26","modified_gmt":"2009-04-14T15:13:26","slug":"eurusd-daily-commentary-for-41409","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/14\/eurusd-daily-commentary-for-41409\/","title":{"rendered":"EUR\/USD Daily Commentary for 4.14.09"},"content":{"rendered":"

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

Though yesterday\u2019s rally in the EUR\/USD made some interesting strides by edging above 4\/9 highs and our 1st tier downtrend line, investors are taking profits Tuesday.\u00a0 The volume was still light yesterday due to the Easter holiday and a lack of economic data.\u00a0 However, we could see currencies come back to life today with the U.S. releasing retail sales and PPI.\u00a0 Even though the EUR\/GBP could experience more near-term losses, it appears the currency pair should find some support soon.\u00a0 Therefore, the EUR\/USD may experience considerable strength around our 1st tier uptrend line and 1.3192 support, if the currency pair should reach this level.\u00a0 We expect the EUR\/USD to remain in this volatile consolidation phase for the near-term as investors try to figure out exactly where the global economy stands.\u00a0 The Euro is still at a disadvantage with the ECB taking a vague monetary stance, and uncertainty hardly ever yields a positive performance in price. Will the ECB cut its benchmark further or initiate unorthodox liquidity processes?\u00a0 Nobody knows at this point.\u00a0 Since the economic data surfacing from the EU over the past month has been mixed, the ECB will likely wait to see if the signs of improvement are only a bounce or a real turn in events.\u00a0 We\u2019ll witness a couple inflection points shortly, including our 1st tier uptrend and downtrend lines and our 2nd tier uptrend and downtrend lines.\u00a0 Therefore, the EUR\/USD is signaling that it could reach a directional pivot point soon.\u00a0 Fundamentally, we maintain our supports of 1.3271, 1.3223, 1.3192, 1.3162, and 1.3126.\u00a0 To the topside, we hold our resistances of 1.3323, 1.3351, 1.3375, 1.3413, and1.3462.\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 1.3277.<\/p>\n

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

Market Commentary<\/strong><\/em> 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 – Though yesterday\u2019s rally in the EUR\/USD made some interesting strides by edging above 4\/9 highs and our 1st tier downtrend line, investors are taking profits Tuesday…<\/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-1371","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1371","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=1371"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1371\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}