{"id":6152,"date":"2010-01-22T13:49:57","date_gmt":"2010-01-22T18:49:57","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6152"},"modified":"2010-01-22T13:49:57","modified_gmt":"2010-01-22T18:49:57","slug":"eurusd-stabilizes-following-encouraging-industrial-new-orders-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/22\/eurusd-stabilizes-following-encouraging-industrial-new-orders-data\/","title":{"rendered":"EUR\/USD Stabilizes Following Encouraging Industrial New Orders Data"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD has stabilized above Thursday lows after the EU released an Industrial New Orders figure a full percentage point above analyst expectations.\u00a0 A positive data release has allowed the Euro to finally create some sort of bottom after this week\u2019s huge pullback.\u00a0 The Euro\u2019s relative strength today is highlighted by a solid pop in the EUR\/GBP.\u00a0 However, the S&P futures made a key step back yesterday and gold has dropped below its highly psychological $1100\/oz level, both negative developments for the EUR\/USD due to correlative forces.\u00a0 That being said, investors should keep a sharp eye on the S&P futures around 1100 and monitor gold\u2019s ability to stabilize above December \u201909 lows should they be tested.\u00a0 If these two psychological cushions don\u2019t hold the Dollar could be in for a more extensive leg up over the medium-term.\u00a0 Volatility could remain at a heightened state next week with the EU kicking off by releasing its GfK Consumer Climate data followed by U.S. Existing Home Sales.\u00a0 Additionally, we\u2019ll receive heavily weighted data from around the globe over the week including monetary policy decisions from Japan and the U.S.<\/p>\n

Technically speaking, the EUR\/USD understandably faces multiple downtrend lines considering the extent of its decline.\u00a0 However, our downtrend lines have quite a bit of space between them, meaning the Euro could gain back some ground should the Dollar experience broad-based weakness.\u00a0 As for the downside, the EUR\/USD has a new 1st tier uptrend line running through Thursday lows acting as a support.\u00a0 Additionally, the EUR\/USD does have the psychological 1.40 level serving as a technical cushion.<\/p>\n

Present Price: 1.4130<\/p>\n

Resistances: 1.4117, 1.4146, 1.4165, 1.4191, 1.4224, 1.4247, 1.4291<\/p>\n

Supports:\u00a0 1.4080, 1.4065, 1.4045, 1.4015, 1.3981, 1.3950<\/p>\n

Psychological: 1.40<\/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 has stabilized above Thursday lows after the EU released an Industrial New Orders figure a full percentage point above analyst expectations.\u00a0 A positive data release has allowed the Euro to finally create some sort of bottom after this week\u2019s huge pullback.\u00a0 The Euro\u2019s relative strength today is highlighted by … <\/p>\n

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