{"id":5798,"date":"2010-01-12T11:38:39","date_gmt":"2010-01-12T16:38:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5798"},"modified":"2010-01-12T11:38:39","modified_gmt":"2010-01-12T16:38:39","slug":"eurusd-hangs-around-1-45","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/12\/eurusd-hangs-around-1-45\/","title":{"rendered":"EUR\/USD Hangs Around 1.45"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD is moderating around 1.45 as the wires begin to heat up for the first time this with an ECB policy meeting and U.S. Retail Sales headlining on Thursday.\u00a0 The ECB is expected to keep its monetary policy intact despite a bit of discouraging data as of late.\u00a0 The ECB may tighten its language a bit with the lingering possibility of an announcement concerning the removal of an alternative liquidity measure due to the confident language emitting from central bank representatives.\u00a0 Meanwhile, U.S. Retail Sales could print well on Thursday since today\u2019s U.S. Trade Balance showed imports outpaced exports.\u00a0 For the time being, investors are digesting news that China is increasing its level of required reserves for banks.\u00a0 Today\u2019s announcement coincides with an 8 basis point increase in the yield for 1-month bonds.\u00a0 Hence, governmental authorities are sending a clear message to financial institutions that they better ease up on loan issuance.\u00a0 That being said, China will release New Loans data in the coming days.\u00a0 Extra emphasis could be placed on this data point since the term \u2018overheating\u2019 has become synonymous with China.\u00a0 Along with news from China, earnings from Alcoa kicked off the earnings season on a sour note.\u00a0 However, earnings won\u2019t shift into first gear until next week.\u00a0 As for the EU, the wires should be quiet until the ECB meeting on Thursday.\u00a0 As a result, the EUR\/USD\u2019s movements between now and then could be tied closely to the currency pair\u2019s Dollar correlation.<\/p>\n

Technically speaking, we\u2019ve readjusted our downtrend lines to compensate for yesterday\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.<\/p>\n

Present Price: 1.4479<\/p>\n

Resistances: 1.4499, 1.4520, 1.4555, 1.4573, 1.4599, 1.4634<\/p>\n

Supports:\u00a0 1.4477, 1.4460, 1.4425, 1.4388, 1.4363, 1.4334<\/p>\n

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

(click to enlarge)<\/p>\n

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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 moderating around 1.45 as the wires begin to heat up for the first time this with an ECB policy meeting and U.S. Retail Sales headlining on Thursday.\u00a0 The ECB is expected to keep its monetary policy intact despite a bit of discouraging data as of late.\u00a0 The ECB … <\/p>\n

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