{"id":1437,"date":"2009-04-16T09:44:57","date_gmt":"2009-04-16T14:44:57","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1437"},"modified":"2009-04-16T09:44:57","modified_gmt":"2009-04-16T14:44:57","slug":"eurusd-daily-commentary-for-41609","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/16\/eurusd-daily-commentary-for-41609\/","title":{"rendered":"EUR\/USD Daily Commentary for 4.16.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The EUR\/USD is finally finding that stabilization we were anticipating with the EUR\/GBP leaping on oversold conditions.\u00a0 Despite all of the uncertainty swirling in the FX community concerning the ECB\u2019s future monetary policy, the EU\u2019s CPI data met analyst predictions while Industrial Production declined slightly less than expected.\u00a0 Therefore, investors finally have some positive news to feed off of in a fairly quiet week news-wise for the EU.\u00a0 The EUR\/USD is righting itself just above April lows, preventing a heightened selloff for the time being.\u00a0 However, there is little evidence to support the argument for a lasting recovery in the currency pair.\u00a0 The EUR\/USD is still trading below our 1st tier uptrend line with inflection points on the way.\u00a0 Speaking of inflection points, the pending collision of our 1st and 2nd tier uptrend and downtrend lines should yield significant volatility.\u00a0 Therefore, we could experience a breakup of the consolidation taking place.\u00a0 Despite the encouraging data surfacing from the EU today, the investor uncertainty surrounding the ECB\u2019s future monetary policy is clearly placing downward pressure on the EUR\/USD.\u00a0 If the currency pair should fall beneath April lows we could see the selloff pickup pace towards the highly psychological 1.30 area.\u00a0 Fundamentally, we maintain our supports of 1.3192, 1.3162, and 1.3126 with fresh supports of 1.3091 and 1.3050.\u00a0 To the topside, our 1.3223 and 1.3271 supports turn resistance while we hold our resistances of 1.3323, 1.3351, and 1.3375.\u00a0 The 1.35 area acts as a psychological barrier with 1.30 serving as a key psychological cushion.\u00a0 The EUR\/USD is currently exchanging at 1.3195.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_16euro.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_16euro.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>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<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 finally finding that stabilization we were anticipating with the EUR\/GBP leaping on oversold conditions&#8230;<\/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-1437","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1437","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=1437"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1437\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}