{"id":4641,"date":"2009-11-10T11:02:33","date_gmt":"2009-11-10T16:02:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4641"},"modified":"2009-11-10T11:02:33","modified_gmt":"2009-11-10T16:02:33","slug":"eurusd-dips-after-hitting-headwinds-at-1-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/10\/eurusd-dips-after-hitting-headwinds-at-1-50\/","title":{"rendered":"EUR\/USD Dips after Hitting Headwinds at 1.50"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is pulling back from 1.50 and our important 2nd and 3rd tier downtrend lines as we witness a consolidation of the risk trade across the marketplace.\u00a0 Investors are hesitating at significant levels in both the EUR\/USD and the S&P futures as they approach their highly psychological 1.50 and 1100 levels, respectively.\u00a0 Furthermore, we are witnessing a retracement in gold towards its own psychological $1100\/oz level.\u00a0 Such consolidation is healthy considering the relative lack of economic news along with the significance of these psychological levels in terms of future trends.\u00a0 Although the news wire has been somewhat quiet so far today, the EU did release its ZEW Economic Confidence data.\u00a0 The ZEW numbers printed roughly 10% below consensus estimates, deflating optimism generated from Germany\u2019s positive Industrial Production release yesterday.\u00a0 Although the ZEW data is continuing its decline from September highs, the slope is gradual and could be part of a healthy pullback.\u00a0 Therefore, it may be too early to jump to any conclusions based off of this one data release.\u00a0 Regardless, investors didn\u2019t get the stream of positive data they were looking for, halting the EUR\/USD ascent towards October highs.<\/p>\n

Speaking of technicals, our 2nd and 3rd downtrend lines are still intact despite yesterday\u2019s impressive rally.\u00a0 These downtrends should be considered heavily-weighted since their run through October highs.\u00a0 Therefore, a solid movement above these two trend lines could yield a nice near-term pop.\u00a0 Meanwhile, the 1.50 level continues to play a lead role as far as resistance is concerned.\u00a0 As for the downside, the EUR\/USD still has multiple uptrend lines serving as technical cushions along with 11\/09 and 11\/06 lows.\u00a0 Therefore, the EUR\/USD has a solid support system in place.<\/p>\n

Despite today\u2019s calm thus far, activity could heat up late Tuesday EST with the release of key China econ data.\u00a0 China will release Industrial Production, CPI, CPI, and Fixed Asset Investments.\u00a0 Investors will likely be paying particularly close attention to China\u2019s econ data since the nation\u2019s economy has been an engine in the global recovery.\u00a0 An outperformance in China\u2019s data could give the risk trades a nice boost, whereas a cool down could result in further Dollar strength.<\/p>\n

Present Price: 1.4956<\/p>\n

Resistances: 1.4966, 1.4981, 1.4999, 1.5019, 1.5037, 1.5049<\/p>\n

Supports: 1.4947, 1.4923, 1.4905, 1.4887, 1.4873, 1.4856<\/p>\n

Psychological: 1.50, October Highs<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> <\/span>provided by <\/span>Fast Brokers<\/strong><\/span><\/span>.<\/a><\/p>\n

Disclaimer:<\/strong> <\/span>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> <\/span>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 pulling back from 1.50 and our important 2nd and 3rd tier downtrend lines as we witness a consolidation of the risk trade across the marketplace.\u00a0 Investors are hesitating at significant levels in both the EUR\/USD and the S&P futures as they approach their highly psychological 1.50 and 1100 … <\/p>\n

Continue reading “EUR\/USD Dips after Hitting Headwinds at 1.50”<\/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-4641","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4641","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=4641"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4641\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}