{"id":7410,"date":"2010-03-09T07:41:23","date_gmt":"2010-03-09T12:41:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7410"},"modified":"2010-03-09T07:41:23","modified_gmt":"2010-03-09T12:41:23","slug":"fx-sentiment-cautious-euro-and-sterling-slide","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/09\/fx-sentiment-cautious-euro-and-sterling-slide\/","title":{"rendered":"FX sentiment cautious, Euro and Sterling slide"},"content":{"rendered":"<p><strong>By eToro<\/strong> &#8211; The Euro and the Sterling gave up earlier gains from last week as risk aversion play weighed on the high \u00a0yielders. Last week the high yielding currencies among them the Euro and the Sterling were able to recover \u00a0losses and rebound against the <a href=\"http:\/\/www.etoro.com\/\">Dollar<\/a> and the Yen as better than expected job figures lifted recovery hops. \u00a0Nonfarm payrolls one of the strongest indicators of Job health in the US fell by -36k jobs against an expected \u00a0fall of -50k jobs. The Euro was able to rebound from the 1.34 zone to above 1.37 against the Dollar and topped \u00a0around 124\u00a5 to the Yen.<\/p>\n<p>The Euro and the Sterling opened the week also on a positive note; however the fact \u00a0that EU and US leaders only expressed solidarity to Greece without offering financial aid moved <a href=\"http:\/\/www.etoro.com\/\">FX<\/a> players to \u00a0be cautious pushing the Sterling and Euro to give up earlier gains. The Euro slide back to the 1.36 area after hitting 1.37 at the opening session and the Sterling moved back to the 1.5$ after failing to edge above 1.52$.Investors were expecting Greece to reach some sort of resolution to its debt problem and the fact that Greece failed to do so, elevated sovereign debt fears and moved investors to a risk aversion play shifting to Yen and <a href=\"http:\/\/www.etoro.com\/\">Dollar<\/a> positions to curb risk.<\/p>\n<p><strong>Euro and Sterling in tight range:<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"216\" src=\"http:\/\/www.etoro.net\/wp-content\/uploads\/2010\/03\/216.png\" alt=\"216\" width=\"433\" height=\"273\" \/><\/p>\n<p>The sterling is within a tight range a break of 1.52 could move the bullish correction to resume; a close below 1.5 would move the pair to retest the 1.47-1.48 support.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"39\" src=\"http:\/\/www.etoro.net\/wp-content\/uploads\/2010\/03\/39.png\" alt=\"39\" width=\"440\" height=\"286\" \/><\/p>\n<p>A break of the 1.38 upper range would confirm the bullish correction has resumed, while a break of the 1.34 support could lead the pair to drift further south.<\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.etoro.com\/B218_A16627_TClick.aspx\" target=\"_blank\"><strong>Daily Forex Market Analysis provided by eToro<\/a><\/strong><\/span><\/p>\n<p>Disclaimer: Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don\u2019t trade with money you can\u2019t afford to lose.<\/p>\n<p><strong><a href=\"http:\/\/www.etoro.com\/A16627_TClick.aspx\" target=\"_blank\">\u00a9 2009 eToro Blog.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By eToro &#8211; The Euro and the Sterling gave up earlier gains from last week as risk aversion play weighed on the high \u00a0yielders. Last week the high yielding currencies among them the Euro and the Sterling were able to recover \u00a0losses and rebound against the Dollar and the Yen as better than expected job &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/09\/fx-sentiment-cautious-euro-and-sterling-slide\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FX sentiment cautious, Euro and Sterling slide&#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-7410","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7410","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=7410"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7410\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}