{"id":6224,"date":"2010-01-26T09:07:23","date_gmt":"2010-01-26T14:07:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6224"},"modified":"2010-01-26T09:07:23","modified_gmt":"2010-01-26T14:07:23","slug":"eurusd-holds-above-1-40-after-positive-data-set","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/26\/eurusd-holds-above-1-40-after-positive-data-set\/","title":{"rendered":"EUR\/USD Holds Above 1.40 After Positive Data Set"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD has recovered some of its intraday losses after the Dollar appreciated across the board in reaction to news that Chinese banks are being aggressive in limiting new loan volume.\u00a0 The Euro received some good news after Germany\u2019s Ifo Business Climate and French Consumer Spending outperformed.\u00a0 Furthermore, the EU\u2019s current account registered a slight surplus after analysts anticipated a deficit of -3.1 billion.\u00a0 Hence, it seems demand for EU goods and services is recovering faster than anticipated, a positive development for the Euro which has been hammered the past couple weeks.\u00a0 However, investors should keep in mind that last week\u2019s Flash PMI data left something to be desired.\u00a0 Therefore, EU economic data is painting a mixed picture.\u00a0 Regardless, today\u2019s encouraging data set has allowed the Euro to strengthen and make up for some lost ground, highlighted by a solid up-bar taking place in the EUR\/GBP right now.\u00a0 Attention will now shift back to the U.S. with CB Consumer Confidence on deck.\u00a0 Yesterday\u2019s U.S. Existing Home Sales data came in weaker than anticipated and it will be interesting to see how the Dollar reacts should today\u2019s CB number also disappoint.\u00a0 Although the EU will release German Prelim CPI tomorrow, attention will be centered on the Fed\u2019s monetary policy meeting.\u00a0 That being said, volatility could remain at a heightened state in the FX market over the next couple trading sessions, especially considering the earnings season is just beginning to heat up.<\/p>\n

Technically speaking, the EUR\/USD faces topside technical barriers in the form of multiple downtrend lines along with 1\/25 highs.\u00a0 As for the downside, the EUR\/USD has our 1st and 2nd tier uptrend lines serving as technical cushions along with previous January lows and the psychological 1.40 level.\u00a0 Our 1st tier uptrend line could carry some weight since it runs through some April 2009 lows.\u00a0 That being said, a failure of our 1st tier could send a pretty negative signal considering April 2009 lows are around the 1.30.<\/p>\n

Present Price: 1.4096<\/p>\n

Resistances: 1.4115, 1.4146, 1.4169, 1.4191, 1.4224, 1.4247<\/p>\n

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

Psychological: 1.40<\/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 has recovered some of its intraday losses after the Dollar appreciated across the board in reaction to news that Chinese banks are being aggressive in limiting new loan volume.\u00a0 The Euro received some good news after Germany\u2019s Ifo Business Climate and French Consumer Spending outperformed.\u00a0 Furthermore, the EU\u2019s current … <\/p>\n

Continue reading “EUR\/USD Holds Above 1.40 After Positive Data Set”<\/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-6224","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6224","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=6224"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6224\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}