{"id":7012,"date":"2010-02-22T11:25:04","date_gmt":"2010-02-22T16:25:04","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7012"},"modified":"2010-02-22T11:25:04","modified_gmt":"2010-02-22T16:25:04","slug":"eurusd-balances-after-fridays-bounce","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/22\/eurusd-balances-after-fridays-bounce\/","title":{"rendered":"EUR\/USD Balances After Friday\u2019s Bounce"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The EUR\/USD is stabilizing after Friday\u2019s solid pop in the wake of mixed EU PMI data.\u00a0 Positive manufacturing from Germany gave investors a reason to hope that the EU can withstand the economic storm in the Mediterranean.\u00a0 However, uncertainty remains as Greece works to prove that it can successfully implement its austerity plan while Spain, Portugal, and Italy battle with their own fiscal deficits.\u00a0 Therefore, the EUR\/USD does remain in a fragile state despite Friday\u2019s positive movement.\u00a0 Hence, investors should keep an eye on upcoming data, including tomorrow\u2019s German Ifo Business Climate release.\u00a0 Furthermore, there is potential for another unexpected development in the PIIGS countries.\u00a0 That being said, investors should remain alter for we\u2019ve seen how volatile FX markets can get amid debt concerns.\u00a0 Meanwhile, the data wire is relatively quiet today, giving the risk trade an opportunity to cool and stabilize.\u00a0 It will be interesting to see whether the EUR\/USD can piece together a more convincing recovery from Friday\u2019s lows.<\/p>\n<p>Technically speaking, the EUR\/USD faces multiple downtrend lines considering the extent of this year\u2019s downturn in the currency pair.\u00a0 The EUR\/USD also has 2\/17 and 2\/19 highs serving as technical barriers should they be reached.\u00a0 As for the downside, the EUR\/USD now has several uptrend lines serving as technical cushions along with 2\/12 and 2\/18 lows.\u00a0 Furthermore, the EUR\/USD is back above its highly psychological 1.35 level, meaning the area could serve as a cushion as well.<\/p>\n<p>Present Price: 1.3623<\/p>\n<p>Resistances: 1.3630, 1.3645, 1.3670, 1.3695, 1.3713, 1.3741<\/p>\n<p>Supports:\u00a0 1.3612, 1.3587, 1.3564, 1.3546, 1.3532, 1.3511<\/p>\n<p>Psychological: February lows, 1.35<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/feb22euro.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/feb22euro.gif\" alt=\"\" width=\"595\" height=\"590\" \/><\/a><\/p>\n<p>(click to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; The EUR\/USD is stabilizing after Friday\u2019s solid pop in the wake of mixed EU PMI data.\u00a0 Positive manufacturing from Germany gave investors a reason to hope that the EU can withstand the economic storm in the Mediterranean.\u00a0 However, uncertainty remains as Greece works to prove that it can successfully implement its &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/02\/22\/eurusd-balances-after-fridays-bounce\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Balances After Friday\u2019s Bounce&#8221;<\/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-7012","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7012","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=7012"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7012\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}