{"id":5259,"date":"2009-12-14T11:45:13","date_gmt":"2009-12-14T16:45:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5259"},"modified":"2009-12-14T11:45:13","modified_gmt":"2009-12-14T16:45:13","slug":"eurusd-consolidates-around-our-1st-tier-uptrend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/14\/eurusd-consolidates-around-our-1st-tier-uptrend-line\/","title":{"rendered":"EUR\/USD Consolidates Around our 1st tier Uptrend Line"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is moderating around our 1st tier uptrend line after taking another step down on Friday.\u00a0 Investors responded to encouraging U.S. consumer-related data buy buying up the Dollar across the board.\u00a0 This was the second Friday in a row that we witnessed a preference for the Dollar in reaction to positive U.S. econ data.\u00a0 Investors should take note of the development for the relationship could persist if U.S. data continues to improve.\u00a0 Although the data wire is relatively quiet today, the EU did release an Industrial Production figure meeting analyst expectations.\u00a0 Even though the FX markets are rather quiet right now, activity could pick up during tomorrow\u2019s session with the release of key econ data from around the globe.\u00a0 From the EU investors will receive ZEW Economic Sentiment data.\u00a0 Analysts are expecting a slight decline in the ZEW numbers while remaining above the expansion threshold (50+).\u00a0 If tomorrow\u2019s ZEW data should disappoint, we could witness further weakness in the EUR\/USD as investors find another reason to snap up the Dollar.\u00a0 In addition to tomorrow\u2019s EU data, investors will also receive pricing data from Britain and the U.S. along with TIC Long-Term Purchases, the Empire State Manufacturing Index, Capacity Utilization Rate and U.S. Industrial Production.\u00a0 Hence, another wave of key U.S. data could yield further Dollar volatility.<\/p>\n

Technically speaking, the EUR\/USD is fighting to stay above our 1st and 2nd tier uptrend lines.\u00a0 These uptrend lines may carry some weight since they run through September and August lows, respectfully.\u00a0 If our 1st tier doesn\u2019t hold, then the EUR\/USD has additional technical supports in the form of 11\/3 lows and the psychological 1.45 area.\u00a0 However, it seems the EUR\/USD is testing the patience of its uptrend since our new 1st tier runs through 8\/17 lows, meaning if it doesn\u2019t hold we could eventually witness a more protracted decline towards 1.40.\u00a0 However, before we get ahead of ourselves, we\u2019ll have to wait and see how the EUR\/USD interacts with present technical cushions.\u00a0 As for the topside, the EUR\/USD still faces multiple downtrend lines along with 12\/9 and 12\/8 highs.<\/p>\n

Present Price: 1.4639<\/p>\n

Resistances: 1.4650, 1.4672, 1.4690, 1.4707, 1.4724, 1.4740<\/p>\n

Supports: 1.4628, 1.4611, 1.4598, 1.4583, 1.4565, 1.4550, 1.4528<\/p>\n

Psychological: 1.45, 1.40, 1.50, November 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 is moderating around our 1st tier uptrend line after taking another step down on Friday.\u00a0 Investors responded to encouraging U.S. consumer-related data buy buying up the Dollar across the board.\u00a0 This was the second Friday in a row that we witnessed a preference for the Dollar in reaction to … <\/p>\n

Continue reading “EUR\/USD Consolidates Around our 1st tier Uptrend Line”<\/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-5259","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5259","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=5259"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5259\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}