{"id":5767,"date":"2010-01-11T11:27:29","date_gmt":"2010-01-11T16:27:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5767"},"modified":"2010-01-11T11:27:29","modified_gmt":"2010-01-11T16:27:29","slug":"eurusd-pops-back-to-1-45","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/11\/eurusd-pops-back-to-1-45\/","title":{"rendered":"EUR\/USD Pops Back to 1.45"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD has popped back to its psychological 1.45, backed by strong volume during the Asia trading session.\u00a0 Investors sold off the Greenback across the board after China\u2019s solid Trade Balance report.\u00a0 Investors were encouraged by the huge increase in imports to China, a sign consumption in the country is heating up.\u00a0 This is a positive development for struggling developed economies.\u00a0 Furthermore, the Trade Balance signaled a sizable increase in exports, also a positive sign in terms of consumption around the globe.\u00a0 The increase in imports did outpace the recovery in exports, implied by the weaker than expected overall Trade Balance figure.\u00a0 The continuation of China\u2019s brisk recovery has spurred a bit of speculation and this is why we saw the pop in the risk trade during the Asia trading session.<\/p>\n

Meanwhile, the EU did print a better than expected French Industrial Production number, an encouraging development considering last week\u2019s stream of EU data left something to be desired.\u00a0 The EU should be relatively quiet on the wire until Thursday\u2019s ECB monetary policy meeting.\u00a0 Despite recent sluggish data, there is presently little reason to suspect that the ECB will remove its foot from the breaks of liquidity.\u00a0 Hence, the Euro is experiencing a solid rally in anticipation that the ECB will either keep its policy unchanged or reign in another alternative liquidity program.\u00a0 The EUR\/USD\u2019s rise back to the 1.45 range is a welcome occurrence for Dollar bears.\u00a0 Furthermore, the EUR\/USD is trading back above our 3rd tier trend line, an important measure since it runs through July 2009 lows.<\/p>\n

Technically speaking, we\u2019ve readjusted our downtrend lines to compensate for today\u2019s nice topside breakout.\u00a0 That being said, the EUR\/USD does have quite a bit of room to make up for considering the extent of December\u2019s decline.\u00a0 Therefore, the EUR\/USD does have some more obstacles to overcome, including 12\/16, 12\/14, and 12\/11 highs.\u00a0 Meanwhile, the EUR\/USD has broken through previous January highs after building a solid based above December \u201909 lows.\u00a0 The EUR\/USD has bought some more breathing room to the downside in the process, including multiple uptrend lines along with 1\/8 and 12\/22 lows.\u00a0 Furthermore, the psychological 1.45 level could become a technical cushion should the EUR\/USD piece together an extended intraday rally.<\/p>\n

Present Price: 1.4506<\/p>\n

Resistances: 1.4549, 1.4573, 1.4599, 1.4634, 1.4653, 1.4684<\/p>\n

Supports: 1.4499, 1.4476, 1.4460, 1.4425, 1.4388, 1.4363<\/p>\n

Psychological: 1.45, December highs and January lows<\/p>\n

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

(click to enlarge)<\/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 has popped back to its psychological 1.45, backed by strong volume during the Asia trading session.\u00a0 Investors sold off the Greenback across the board after China\u2019s solid Trade Balance report.\u00a0 Investors were encouraged by the huge increase in imports to China, a sign consumption in the country is heating … <\/p>\n

Continue reading “EUR\/USD Pops Back to 1.45”<\/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-5767","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5767","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=5767"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5767\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}