{"id":2724,"date":"2009-06-29T10:59:23","date_gmt":"2009-06-29T15:59:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2724"},"modified":"2009-06-29T10:59:23","modified_gmt":"2009-06-29T15:59:23","slug":"eurusd-bounces-back-above-140","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/29\/eurusd-bounces-back-above-140\/","title":{"rendered":"EUR\/USD Bounces Back Above 1.40"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD\u2019s upswing on Friday fell short of 6\/24 highs as we anticipated since volume wasn\u2019t strong enough to create a more significant movement to the upside.\u00a0 The currency pair is propelling from our 2nd tier uptrend line on Monday after the EU reported a better than expected consumer sentiment and economic confidence numbers.\u00a0 However, despite the improvement, the -31 consumer sentiment number is still a far cry from 2005 lows of -15.\u00a0 Additionally, the economic confidence number is quite a ways from 2007 highs.\u00a0 Therefore, we don\u2019t believe the sentiment data should have too large of an impact on the Euro today.<\/p>\n

Meanwhile, the EUR\/USD is recovering above the psychological 1.40 level, an encouraging technical development.\u00a0 June 24 highs remain the main barrier in regards to a near-term pop, but our 3rd tier downtrend line is approaching.\u00a0 Therefore, any near-term breakout may not have too much room to run.\u00a0 Despite recent improvement in the EUR\/USD since 6\/15 lows, the currency pair is still stuck under the lid of its trading range and our 3rd tier downtrend line.\u00a0 Investors remain skeptical in regards to the sustainability of a global economic recovery after central banks issued wary forecasts.\u00a0 Furthermore, investors are taking note of the $615 billion window of liquidity the ECB is providing for EU banks at a 1% interest rate.\u00a0 Encouragingly, the EUR\/USD has reliable supports to the downside, beginning with 1.40 and our uptrend lines.\u00a0 Hence, it seems the EUR\/USD will be mired in its present trading range until there is a technical breakout in either direction backed by substantial news and volume.\u00a0 However, it only seems like a matter of time, something\u2019s gotta give.<\/p>\n

The EUR\/USD\u2019s jolt from relative tranquility may come later this week with key unemployment, housing, and manufacturing data coming from both the U.S. and Britain followed by the ECB\u2019s monetary policy decision on Thursday.\u00a0 The ECB is expected to keep its minimum bid rate unchanged at 1%, yet investors will be interested in how the central bank addresses its present alternative liquidity measures.\u00a0 As for the immediate-term we don\u2019t anticipate any trend-setting movements from the EUR\/USD until the data and central bank meetings roll around.
\nPresent Price: 1.4071<\/p>\n

Resistances: 1.4097, 1.4141, 1.4167, 1.4191, 1.4229<\/p>\n

Supports: 1.4061, 1.4024, 1.3978, 1.3928, 1.3894<\/p>\n

Psychological: 1.45, 1.40<\/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\u2019s upswing on Friday fell short of 6\/24 highs as we anticipated since volume wasn\u2019t strong enough to create a more significant movement to the upside.\u00a0 The currency pair is propelling from our 2nd tier uptrend line on Monday after the EU reported a better than expected consumer sentiment and … <\/p>\n

Continue reading “EUR\/USD Bounces Back Above 1.40”<\/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-2724","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2724","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=2724"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}