{"id":5543,"date":"2009-12-29T10:13:55","date_gmt":"2009-12-29T15:13:55","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5543"},"modified":"2009-12-29T10:13:55","modified_gmt":"2009-12-29T15:13:55","slug":"eurusd-rises-on-light-volume","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/29\/eurusd-rises-on-light-volume\/","title":{"rendered":"EUR\/USD Rises On Light Volume"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is climbing on tepid volume despite light EU econ data as we enter another holiday-shortened week.\u00a0 Regardless, the EUR\/USD is recording solid gains today and we notice a sizable pop in the AUD\/USD as well.\u00a0 However, the Cable is declining, resulting in a strong upward movement in the EUR\/GBP.\u00a0 It\u2019s unclear exactly what is giving the Euro its relative strength over the Pound, yet topside participation in the AUD\/USD indicates investors may be reacting to a negative development in the UK.\u00a0 That being said, investors will receive some key HPI and CB Consumer Confidence data from the U.S.\u00a0 Should U.S. data continue last week\u2019s weak performance, then the EUR\/USD may log further gains as the Dollar\u2019s rally unwinds.\u00a0 Meanwhile, the EU will release Germany\u2019s Prelim CPI today followed by tomorrow\u2019s M3 Money Supply.\u00a0 However, reaction to these data points may be limited as investors enjoy the holidays.<\/p>\n

Technically speaking, the EUR\/USD faces multiple downtrend lines along with the psychological 1.45 level and 12\/16 highs.\u00a0 Hence, some challenging near-term topside technicals are in place due to the EUR\/USD recent deterioration.\u00a0 As for the downside, the EUR\/USD has technical cushions in the form of our two uptrend lines along with intraday and 12\/22 lows.<\/p>\n

Present Price: 1.4433<\/p>\n

Resistances: 1.4467, 1.4495, 1.4519, 1.4543, 1.4560, 1.4581<\/p>\n

Supports: 1.4408, 1.4372, 1.4348, 1.4322, 1.4298, 1.4266<\/p>\n

Psychological: 1.45, 1.40, December and September Lows<\/p>\n

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

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/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 is climbing on tepid volume despite light EU econ data as we enter another holiday-shortened week.\u00a0 Regardless, the EUR\/USD is recording solid gains today and we notice a sizable pop in the AUD\/USD as well.\u00a0 However, the Cable is declining, resulting in a strong upward movement in the EUR\/GBP.\u00a0 … <\/p>\n

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