{"id":1605,"date":"2009-04-28T11:06:11","date_gmt":"2009-04-28T16:06:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1605"},"modified":"2009-04-28T11:06:11","modified_gmt":"2009-04-28T16:06:11","slug":"eurusd-daily-commentary-for-42809","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/28\/eurusd-daily-commentary-for-42809\/","title":{"rendered":"EUR\/USD Daily Commentary for 4.28.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The EUR\/USD tumbled yesterday, collapsing through several key supports, including the highly psychological 1.30 level.\u00a0 EU economic data has outperformed over the past week, making Monday\u2019s large decline all the more worrying.\u00a0 The EUR\/USD is presently fighting to stay above April lows in order to avoid a fundamental collapse.\u00a0 The outbreak of Swine Flu is hitting the Euro particularly hard as investors run towards the Dollar and Yen for cover.\u00a0 The currency pair should continue to follow its positive correlation with U.S. equities to a tee due to the lack of economic data from the EU.\u00a0 The WSJ announced that the stress tests may show C and BAC will require more capital, meaning the economic worries persist.\u00a0 Hence, if the S&amp;P futures stumble under the pressure of our downtrend lines, the EUR\/USD may be inclined to follow suit.\u00a0 We could see a battle in the 1.30 area today as investors hesitate to let the psychological level go.\u00a0 On the other hand, if the EUR\/USD were to leave 1.30 and our 1st tier uptrend line behind, we could see the current selloff pick up speed.\u00a0 We have a negative stance on the EUR\/USD trend-wise with the Swine Flu putting the brakes on an economic recovery.\u00a0 If the flu were to reach epidemic status, the EUR\/USD may be forced beneath April lows.<\/p>\n<p>Fundamentally, we find supports of 1.2987, 1.2949, 1.2920, 1.2892, and 1.2866.\u00a0 To the topside, we see resistances of 1.3044, 1.3072, 1.3123, 1.3167, and 1.3199.\u00a0 Although 1.30 is serving as a cushion right now, it could soon become a psychological barrier.\u00a0 The EUR\/USD is currently exchanging at 1.2988.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_28euro.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_28euro.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 tumbled yesterday, collapsing through several key supports, including the highly psychological 1.30 level&#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-1605","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1605","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=1605"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1605\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}