{"id":6471,"date":"2010-02-02T11:39:48","date_gmt":"2010-02-02T16:39:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6471"},"modified":"2010-02-02T11:39:48","modified_gmt":"2010-02-02T16:39:48","slug":"eurusd-creeps-higher-as-markets-cool","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/02\/eurusd-creeps-higher-as-markets-cool\/","title":{"rendered":"EUR\/USD Creeps Higher as Markets Cool"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is attempting to stabilize and we notice a similar pattern in the GBP\/USD.\u00a0 Australia\u2019s RBA decision did yield volatility, though only in the AUD\/USD while the EUR\/USD emerged unscathed.\u00a0 Chatter concerning Greece has subsided as the EU decides how to deal with the situation.\u00a0 In this case no news is good news, and the EUR\/USD is benefitting from the silence thus far.\u00a0 German Retail Sales printed about in line with analyst expectations, yielding little response as we anticipated.\u00a0 However, the U.S. will release Pending Home Sales soon and this data point could move the Dollar should it deviate from analyst estimates.\u00a0 It\u2019s uncertain at this point in time how another positive U.S. data point would impact the Dollar since the Greenback weakened yesterday and it soared on Friday with positive data releases during both sessions.\u00a0 Therefore, investors should keep a wary eye on the EUR\/USD as today\u2019s data hits the wires.\u00a0 The EU will release its headline Retail Sales figure tomorrow and considering today\u2019s result it would be surprising for the number to print about in line with expectations.\u00a0 Meanwhile, attention will remain on the U.S. with ADP Non-Farm Employment Change and Services PMI data on deck for tomorrow.\u00a0 Additionally, the UK will release its Halifax HPI and Services PMI as well.\u00a0 Hence, activity in the Dollar could heat up and the EUR\/USD could opt to follow broad-based movements in the FX markets barring any EU announcements concerning 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 at the moment.\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: 1.3947<\/p>\n

Resistances: 1.3962, 1.3993, 1.40026, 1.4056, 1.4105, 1.4135<\/p>\n

Supports:\u00a0 1.3930, 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><\/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 attempting to stabilize and we notice a similar pattern in the GBP\/USD.\u00a0 Australia\u2019s RBA decision did yield volatility, though only in the AUD\/USD while the EUR\/USD emerged unscathed.\u00a0 Chatter concerning Greece has subsided as the EU decides how to deal with the situation.\u00a0 In this case no news … <\/p>\n

Continue reading “EUR\/USD Creeps Higher as Markets Cool”<\/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-6471","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6471","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=6471"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6471\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}