{"id":6417,"date":"2010-02-01T11:22:29","date_gmt":"2010-02-01T16:22:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6417"},"modified":"2010-02-01T11:22:29","modified_gmt":"2010-02-01T16:22:29","slug":"eurusd-stabilizes-as-investors-await-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/01\/eurusd-stabilizes-as-investors-await-u-s-data\/","title":{"rendered":"EUR\/USD Stabilizes as Investors Await U.S. Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is stabilizing around the 1.39 level as investors wait for America\u2019s ISM Manufacturing PMI data.\u00a0 Consolidation in the EUR\/USD is a desirable development for Dollar bears since the Euro has been in a freefall the past couple weeks.\u00a0 Investors were able to take the weekend to allow fears concerning Greece\u2019s budget deficit to cool down a bit.\u00a0 It now appears the EU will need to make a decision in regards to bailing out Greece.\u00a0 The EU may have little choice but to lend a helping hand since the failure of an EU nation could have negative ramifications for the other member nations.\u00a0 An EU decision could come as soon as this week and it\u2019s uncertain what impact this will have on the Euro.\u00a0 Therefore, investors should monitor the EU headlines closely since such an economic move could create volatility in the EUR\/USD.\u00a0 Meanwhile, China\u2019s Manufacturing PMI data printed a bit shy of analyst expectations and the UK\u2019s outperformed.\u00a0 Hence, the risk trade has received a fuzzy picture to kick off the week.\u00a0 Investors are now awaiting America\u2019s own PMI number and the release could elicit some activity.\u00a0 Volatility should pick up in the FX markets as the week progresses with the RBA making a monetary policy decision during tomorrow\u2019s Asia trading session followed by U.S. Pending Home Sales.\u00a0 The EUR\/USD will release German Retail Sales and investors are expecting growth of 0.9%.\u00a0 However, recent data from Germany hasn\u2019t received too much of a response so focus will likely remain on the U.S. and Australia barring an EU decision regarding Greece.<\/p>\n

Technically speaking, the EUR\/USD faces topside technical barriers in the form of multiple downtrend lines along with 1\/29 and 1\/28 highs.\u00a0 Furthermore, the psychological 1.40 level could serve as a technical barrier should it be tested.\u00a0 As for the downside, the EUR\/USD has our 1st tier uptrend line serving as technical cushions along with previous January lows.\u00a0 The EUR\/USD has more uptrend lines waiting in the distance, although they are sitting off screen right now.\u00a0 Our 1st and 2nd tier uptrend lines could carry some weight since they run through April 2009 lows.\u00a0 That being said, a failure of our 1st tier could send a fairly negative signal considering April 2009 lows are around the 1.30.<\/p>\n

Present Price: 1.3909<\/p>\n

Resistances: 1.3936, 1.3976, 1.4002, 1.4036, 1.4065, 1.4099<\/p>\n

Supports:\u00a0 1.3903, 1.3878, 1.3857, 1.3833, 1.3806, 1.3782<\/p>\n

Psychological: 1.40, January lows<\/p>\n

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

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/span><\/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 stabilizing around the 1.39 level as investors wait for America\u2019s ISM Manufacturing PMI data.\u00a0 Consolidation in the EUR\/USD is a desirable development for Dollar bears since the Euro has been in a freefall the past couple weeks.\u00a0 Investors were able to take the weekend to allow fears concerning … <\/p>\n

Continue reading “EUR\/USD Stabilizes as Investors Await U.S. Data”<\/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-6417","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6417","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=6417"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6417\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}