{"id":4956,"date":"2009-11-24T12:04:50","date_gmt":"2009-11-24T17:04:50","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4956"},"modified":"2009-11-24T12:04:50","modified_gmt":"2009-11-24T17:04:50","slug":"eurusd-fluctuates-following-negatively-mixed-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/24\/eurusd-fluctuates-following-negatively-mixed-u-s-data\/","title":{"rendered":"EUR\/USD Fluctuates Following Negatively Mixed U.S. Data"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD was rejected by its psychological 1.50 level once again, and the currency pair is fluctuating between our 2nd tier uptrend and downtrend lines as activity wanes in advance of the Thanksgiving holiday.\u00a0 Today\u2019s EU data releases were all positive with Germany\u2019s Ifo Business Climate and EU Industrial New Orders topping analyst expectations.\u00a0 The EUR\/USD strengthened following the EU releases, but this morning\u2019s U.S. econ data is keeping the currency pair in check.\u00a0 U.S. Prelim GDP and the S&P\/CS HPI Index data all came in weaker than anticipated and we are presently awaiting the CB Consumer Confidence number.\u00a0 However, even if the CB number tops estimates, the sluggish GDP data may weigh on the markets.\u00a0 On a positive note, the combination of positive EU and negative U.S. data is providing the Euro with a relative strength, as highlighted by the present performance of the EUR\/GBP.\u00a0 However, it seems the S&P futures may struggle with 1100 again today due to the less than stellar econ data from the U.S.\u00a0 Therefore, the EUR\/USD may be hard pressed to break through its topside barriers should U.S. equities not cooperate.<\/p>\n

Technically speaking, the EUR\/USD still faces our 2nd tier and 3rd tier downtrend lines, which run through October and November highs, respectfully.\u00a0 Furthermore, the EUR\/USD has to deal with its highly psychological 1.50 zone.\u00a0 As for the downside, the EUR\/USD does have multiple uptrend lines serving as technical cushions along with 11\/20 lows.\u00a0 Therefore, quite a few technical cushions and barriers are waiting nearby.\u00a0 Hence, further consolidation may not be out of the question.<\/p>\n

The EU will be relatively quiet on the data front tomorrow with only the release of the GfK German Consumer Climate number.\u00a0 Therefore, the EUR\/USD\u2019s performance may rely more upon the S&P\u2019s reaction to today\u2019s data along with tomorrow\u2019s Durable Goods Orders and New Home Sales data releases.\u00a0 Meanwhile, activity may begin to wind down as investors clock out early for the Thanksgiving holiday.\u00a0 However, the U.S. does have some important data releases on deck for tomorrow, meaning that the potential for volatility remains.<\/p>\n

Present Price: 1.4979<\/p>\n

Resistances: 1.4983, 1.4998, 1.5021, 1.5036, 1.5051, 1.5070, 1.5088<\/p>\n

Supports: 1.4963, 1.4952, 1.4936, 1.4918, 1.4902, 1.4882, 1.4859<\/p>\n

Psychological: 1.50, November Highs and Lows<\/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 was rejected by its psychological 1.50 level once again, and the currency pair is fluctuating between our 2nd tier uptrend and downtrend lines as activity wanes in advance of the Thanksgiving holiday.\u00a0 Today\u2019s EU data releases were all positive with Germany\u2019s Ifo Business Climate and EU Industrial New Orders … <\/p>\n

Continue reading “EUR\/USD Fluctuates Following Negatively Mixed U.S. Data”<\/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-4956","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4956","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=4956"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}