{"id":1532,"date":"2009-04-23T10:14:53","date_gmt":"2009-04-23T15:14:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1532"},"modified":"2009-04-23T10:14:53","modified_gmt":"2009-04-23T15:14:53","slug":"eurusd-daily-commentary-for-42309","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/23\/eurusd-daily-commentary-for-42309\/","title":{"rendered":"EUR\/USD Daily Commentary for 4.23.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The EUR\/USD is rallying slightly, awakening from its consolidative slumber earlier in the week.\u00a0 The currency pair hopped above our 2nd tier downtrend line, but is having difficulties with our 3rd tier uptrend line.\u00a0 Therefore, we\u2019re cautiously optimistic.\u00a0 However, the EUR\/USD has climbed over the highly psychological 1.30 level.\u00a0 The relative strength in the Euro comes after all of the manufacturing and services PMI data beat estimates. Though the number all indicate contraction, at least an upward swing in momentum is forming.\u00a0 If the currency pair can sustain gains from present levels, then it may have something worthwhile to build from.\u00a0 The EUR\/USD will ultimately follow U.S. equities due to their tight economic interconnectivity.\u00a0 As a result, any positive developments in the EUR\/USD could be squashed if U.S. equities tumble.\u00a0 On the other hand, the Euro should keep some relative strength due to the performance of recent economic data unless tomorrow\u2019s business climate release comes in below analyst expectations.\u00a0 If the EUR\/USD can close above our 3rd tier uptrend line on the 4-hour we could see a nice pop towards 4\/10 lows.\u00a0 On the flipside, any decline could be deflected by our 2nd tier downtrend line.\u00a0 However, we wouldn\u2019t be surprised to see the EUR\/USD consolidate around 1.30 should U.S. equities move lower today.\u00a0 Fundamentally, we find supports of 1.3017, 1.2982, 1.2953, 1.2919, and 1.2833.\u00a0 To the topside, we see resistances of 1.3050, 1.3091, 1.3126, 1.3167, and 1.3211.\u00a0 The EUR\/USD is currently exchanging at 1.3017.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_23euro.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_23euro.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 rallying slightly, awakening from its consolidative slumber earlier in the week.  The currency pair hopped&#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-1532","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1532","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=1532"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1532\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}