{"id":5014,"date":"2009-11-30T13:01:46","date_gmt":"2009-11-30T18:01:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5014"},"modified":"2009-11-30T13:01:46","modified_gmt":"2009-11-30T18:01:46","slug":"eurusd-fluctuates-around-1-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/30\/eurusd-fluctuates-around-1-50\/","title":{"rendered":"EUR\/USD Fluctuates Around 1.50"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD has recovered well from Friday lows, propelling from our 2nd tier downtrend line before fading beneath Wednesday highs.\u00a0 The EUR\/USD is now hovering back around its highly psychological 1.50 level as investors continue to dissect news concerning Dubai.\u00a0 Regardless, the currency pair is back in its safe zone following Friday\u2019s scare and the EU econ data wire is relatively quiet until Thursday\u2019s ECB meeting.\u00a0 Although Trichet and the ECB have used more aggressive language in regards to their intent to begin winding down some alternative liquidity measures, there is a bit of uncertainty concerning how the ECB will behave come Thursday due to the incident in Dubai coupled with mixed global econ data.\u00a0 That being said, the ECB did release a Flash CPI today which was one basis point hotter than expected (0.6% vs. 0.5%).\u00a0 Therefore, consumer prices seem to be picking back up with all of the liquidity washing around.\u00a0 The EU will also release German Retail Sales tomorrow along with Germany\u2019s Unemployment Change and the headline EU Unemployment Rate.\u00a0 These data points follow potential market movers in the form of China\u2019s Manufacturing PMI and the RBA\u2019s monetary policy decision.\u00a0 As a result, we could see activity heat up in the next 24 hours.<\/p>\n

Meanwhile, the Euro\u2019s present relative strength is helping the currency pair hold up strong around its 1.50 level while creating some space between present price and our uptrend lines.\u00a0 Last Wednesday\u2019s surge past October lows was a very bullish move, allowing the EUR\/USD to weather the Dubai storm thus far.\u00a0 As a result, both the EUR\/GBP and EUR\/AUD are performing rather well.\u00a0 However, the EUR\/USD may be forced to follow suit should equities and other major Dollar crosses take a turn for the worst.\u00a0 That being said, investors should keep an eye out for our 1st tier uptrend line should it be tested.\u00a0 Our 1st tier runs through November lows.\u00a0 Hence, a movement below the 1st tier may indicate a more protracted pullback towards the 1.460 area.\u00a0 As for the topside, the EUR\/USD faces our 3rd tier downtrend line along with previous November highs the psychological 1.50 level.<\/p>\n

Present Price: 1.5000<\/p>\n

Resistances: 1.5021, 1.5036, 1.5049, 1.5071, 1.5082, 1.5097, 1.5117<\/p>\n

Supports: 1.4992, 1.4979, 1.4961, 1.4937, 1.4920, 1.4903<\/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 has recovered well from Friday lows, propelling from our 2nd tier downtrend line before fading beneath Wednesday highs.\u00a0 The EUR\/USD is now hovering back around its highly psychological 1.50 level as investors continue to dissect news concerning Dubai.\u00a0 Regardless, the currency pair is back in its safe zone following … <\/p>\n

Continue reading “EUR\/USD Fluctuates Around 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-5014","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5014","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=5014"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}