{"id":15588,"date":"2010-11-19T08:51:33","date_gmt":"2010-11-19T13:51:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15588"},"modified":"2010-11-19T08:51:33","modified_gmt":"2010-11-19T13:51:33","slug":"euro-remains-well-bid","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/19\/euro-remains-well-bid\/","title":{"rendered":"Euro Remains Well Bid"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The euro continues to be bolstered by talks of Ireland\u2019s willingness to accept aid in order to save its <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/11\/18\/ireland-in-bailout-negotiations-with-euimf-delegation\/\">faltering banking system <\/a>while Fed Chairman Ben Bernanke came out swinging against critics of QE II and Asian countries weak currency policy.<\/p>\n<p>Traders continue to bid the euro higher  in morning trading of the European session. Fueling the euro buying are  prospects of Ireland\u2019s acceptance of a bailout from a joint EU\/IMF fund.  It remains unclear if Ireland will tap the European mechanism for  nations struggling to pay their sovereign debts. Details of the proposed  agreement have yet to be finalized.<\/p>\n<p>Ben Bernanke came out swinging in a speech today in Frankfurt  Germany. In his sharpest criticism of Asian nations that are  artificially holding their currencies low to increase exports, Bernanke  claimed that China and Singapore were the worst offenders. These nations  are fueling uneven economic recoveries in the varying economies of the  world. The Fed Chairman\u2019s speech also addressed the criticism the Fed  has encountered over the second round of quantitative easing.<\/p>\n<p>Currently the EUR\/USD is trading at 1.3690, up from an opening day  price of 1.3586. The GBP\/USD is trading at its opening day price of  1.6029 after trading as high as 1.6093. The USD\/JPY is even for the day  at 83.40.<\/p>\n<p>The euro is trading with a high amount of volatility today and should  continue to do so going into the US trading session. Traders should be  following the Irish and EU\/IMF negotiations as the economic calendar is  absent of any noteworthy news events remaining for the day.<\/p>\n<p>Support and resistance for the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/11\/17\/eurusd-%e2%80%93-where-does-the-pair-go-from-here\/\">EUR\/USD <\/a>come in at 1.3660 on the hourly chart and last Friday\u2019s high of 1.3770.<\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/span><\/strong><\/em><\/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>The euro continues to be bolstered by talks of Ireland\u2019s willingness to accept aid in order to save its faltering banking system while Fed Chairman Ben Bernanke came out swinging against critics of QE II and Asian countries weak currency policy.<\/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-15588","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15588","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=15588"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15588\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}