{"id":5737,"date":"2010-01-08T10:33:36","date_gmt":"2010-01-08T15:33:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5737"},"modified":"2010-01-08T10:33:36","modified_gmt":"2010-01-08T15:33:36","slug":"eurusd-strengthens-following-weak-employment-change-number","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/08\/eurusd-strengthens-following-weak-employment-change-number\/","title":{"rendered":"EUR\/USD Strengthens Following Weak Employment Change Number"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD is strengthening in reaction to a weaker than expected Employment Change figure.\u00a0 Since the Dollar rallied after the turnaround in employment data in December, it seems reasonable that the Greenback is falling across the board in reaction to today\u2019s release.\u00a0 Additionally, it will be interesting to see the EUR\/USD log further gains today considering the level of anticipation heading into today\u2019s data set.\u00a0 On a positive note, the headline Unemployment Rate did remain at 10% and analysts were expecting a basis point increase to 10.1%.\u00a0 As for the EU, the Union\u2019s headline Unemployment Rate also printed at 10%, a basis point higher than analyst expectations.\u00a0 Furthermore, German Industrial Production came in 4 basis points below analyst expectations.\u00a0 Hence, EU economic data has started 2010 off on a sour note, and today\u2019s data set has yielded a relative weakness in the Euro as exemplified by a dip in the EUR\/GBP.\u00a0 Regardless, the Dollar could remain under selling pressure across the board due to today\u2019s negative development in regards to U.S. employment.<\/p>\n

Technically speaking, the EUR\/USD still faces multiple downtrend lines along with the psychological 1.45 level, 1\/05, 12\/23, and 12\/18 highs.\u00a0 Hence, some challenging near-term topside technicals are in place due to the EUR\/USD\u2019s downturn in December.\u00a0 As for the downside, the EUR\/USD has technical cushions in the form of our 1st and 2nd tier uptrend lines along with intraday and 1\/04 and 12\/22 lows.\u00a0 The EUR\/USD is still trading well below our 3rd tier uptrend line that runs through July lows.\u00a0 However, it will be interesting to see whether today\u2019s disappointing U.S. jobs data provides enough of a topside boost to get the EUR\/USD back above our 3rd tier uptrend line.\u00a0 On an encouraging note, the EUR\/USD is setting higher lows, creating the possibility for a new base.<\/p>\n

Present Price: 1.4333<\/p>\n

Resistances: 1.4364, 1.4400, 1.4418, 1.4439, 1.4458, 1.4489<\/p>\n

Supports: 1.4321, 1.4300, 1.4267, 1.4235, 1.4216<\/p>\n

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

(click to enlarge)<\/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 strengthening in reaction to a weaker than expected Employment Change figure.\u00a0 Since the Dollar rallied after the turnaround in employment data in December, it seems reasonable that the Greenback is falling across the board in reaction to today\u2019s release.\u00a0 Additionally, it will be interesting to see the EUR\/USD … <\/p>\n

Continue reading “EUR\/USD Strengthens Following Weak Employment Change Number”<\/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-5737","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5737","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=5737"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5737\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}