{"id":7119,"date":"2010-02-25T12:10:13","date_gmt":"2010-02-25T17:10:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7119"},"modified":"2010-02-25T12:10:13","modified_gmt":"2010-02-25T17:10:13","slug":"eurusd-tests-february-lows-as-greece-fears-reignite","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/25\/eurusd-tests-february-lows-as-greece-fears-reignite\/","title":{"rendered":"EUR\/USD Tests February Lows as Greece Fears Reignite"},"content":{"rendered":"

The EUR\/USD has dipped back below its psychological 1.35 level and is testing February lows as uncertainty in Greece regains steam.\u00a0 S&P and Moody\u2019s warned that they may downgrade Greece\u2019s debt by the end of March should the government not successfully implement its austerity plan.\u00a0 Meanwhile, Greek government officials are throwing verbal grenades at Germany, effectively harming ties with the country Greece may need to rely upon for a bailout.\u00a0 The \"\"<\/a>deteriorating relationship between the two countries is stoking speculation that Germany may leave Greece to its own devices to correct its economy or go to an outside source, specifically the IMF.\u00a0 Regardless of the lasting effects of the spitballs flying around, today\u2019s developments are having a negative impact on the risk trade.\u00a0 The EUR\/USD, Cable, AUD\/USD, and USD\/JPY are all heading south in a clear signal that investors are heading for safety.\u00a0 Exacerbating today\u2019s move is a disconcerting rise in U.S. weekly unemployment claims along with mixed durable goods data.\u00a0 Although the headline outpaced expectations, the core number disappointed.\u00a0 All that being said, the EUR\/USD is holding up relatively well thus far, likely a result of encouraging German Unemployment Change data.\u00a0 The Euro\u2019s comparative strength is highlighting by another solid step higher in the EUR\/GBP.\u00a0 Meanwhile, the data wire won\u2019t slow down with U.S Prelim GDP and Existing Home Sales due tomorrow.\u00a0 Additionally, the EU will release some CPI numbers.\u00a0 Should EU consumer prices print poorly then the EUR\/USD could experience further downward pressure in the anticipation that liquidity tightening is not in the picture for the foreseeable future.\u00a0 After all, it\u2019s difficult to imagine tighter liquidity with the fiscal issues in the PIIGS nations.<\/p>\n

Technically speaking, the EUR\/USD faces multiple downtrend lines along with 2\/24, 2\/23, and 2\/17 highs.\u00a0 As for the downside, the EUR\/USD has several uptrend lines serving as technical cushions along with 2\/19 lows.\u00a0 Furthermore, the psychological 1.35 area could continue to have an impact on price movements.<\/p>\n

Present Price: 1.3473<\/p>\n

Resistances: 1.3493, 1.3516, 1.3546, 1.3572, 1.3594, 1.3634<\/p>\n

Supports:\u00a0 1.3458, 1.3440, 1.3420, 1.3394, 1.3377, 1.3358<\/p>\n

Psychological: February lows, 1.35<\/p>\n

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

(click to enlarge)<\/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":"

The EUR\/USD has dipped back below its psychological 1.35 level and is testing February lows as uncertainty in Greece regains steam.\u00a0 S&P and Moody\u2019s warned that they may downgrade Greece\u2019s debt by the end of March should the government not successfully implement its austerity plan.\u00a0 Meanwhile, Greek government officials are throwing verbal grenades at Germany, … <\/p>\n

Continue reading “EUR\/USD Tests February Lows as Greece Fears Reignite”<\/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-7119","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7119","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=7119"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7119\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}