{"id":2659,"date":"2009-06-25T09:09:41","date_gmt":"2009-06-25T14:09:41","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2659"},"modified":"2009-06-25T09:09:41","modified_gmt":"2009-06-25T14:09:41","slug":"eurusd-retreats-on-considerable-volume","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/25\/eurusd-retreats-on-considerable-volume\/","title":{"rendered":"EUR\/USD Retreats on Considerable Volume"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is continuing its streak of unpredictable behavior.\u00a0 A day after the EUR\/USD got back above 1.40 on increasing volume, the currency pair retreats on even larger volume the next session.\u00a0 We believe this pattern is a result of heightened investor anxiety, indicating the Dollar is at a critical point trend-wise.\u00a0 While the Dollar still has a tendency to depreciate due to negative psychological momentum in the market, the bulls aren\u2019t ready to sacrifice the medium-term uptrend so easily, hence Tuesday\u2019s considerable volume to the upside.\u00a0 We don\u2019t expect volatility to cool today since the U.S. just released final GDP and weekly unemployment claims.\u00a0 Though final GDP came in two basis points above analyst expectations, unemployment claims posted a surprising increase today.<\/p>\n

In addition to the negative unemployment claims number for America, the EU released a disappointing industrial new orders figure.\u00a0 The industrial orders number supports a fear that the data we saw improving over the past few months may retreat as national stimulus measures are blunted by a harsh global economic reality.\u00a0 Therefore, we\u2019ll have to keep a close eye on upcoming economic data releases to see if they support this viewpoint.<\/p>\n

U.S. equities are reacting negatively pre-market to the jobs data, meaning the EUR\/USD could add onto today\u2019s losses. The S&P futures continue to hover around 900, reflecting the indecisiveness of the greenback across the board.\u00a0 Even though present losses in the EUR\/USD are discouraging, the currency pair remains above our 2nd tier uptrend line.\u00a0 The GBP\/USD has been swinging between a trading range as well, indicating the Dollar is experiencing a battle between trends.\u00a0 Therefore, outlook is a bit tricky until investors commit to a trend.\u00a0 We will take a wait and see approach until the market makes a more concrete directional decision.<\/p>\n

Present Price: 1.3909<\/p>\n

Resistances: 1.3928, 1.3978, 1.4024, 1.4052, 1.4097<\/p>\n

Supports: 1.3894, 1.3863, 1.3825, 1.3803, 1.3757<\/p>\n

Psychological: 1.40, 1.35<\/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 – The EUR\/USD is continuing its streak of unpredictable behavior.\u00a0 A day after the EUR\/USD got back above 1.40 on increasing volume, the currency pair retreats on even larger volume the next session.\u00a0 We believe this pattern is a result of heightened investor anxiety, indicating the Dollar is at a critical point … <\/p>\n

Continue reading “EUR\/USD Retreats on Considerable Volume”<\/span><\/a><\/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-2659","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2659","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=2659"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2659\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}