{"id":7512,"date":"2010-03-11T12:47:05","date_gmt":"2010-03-11T17:47:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7512"},"modified":"2010-03-11T12:47:05","modified_gmt":"2010-03-11T17:47:05","slug":"eurusd-stays-range-bound-amid-protests-in-greece","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/11\/eurusd-stays-range-bound-amid-protests-in-greece\/","title":{"rendered":"EUR\/USD Stays Range Bound Amid Protests in Greece"},"content":{"rendered":"

By Fast Brokers<\/strong> – Greece experienced another wave of protests today as the government looks to implement its aggressive austerity package.\u00a0 However, the Euro has shown little reaction to the protests since Greece is still expected to go ahead with the austerity measures despite public disapproval.\u00a0 Meanwhile, the EUR\/USD is hold strong within its tight trading range as it stands strong above 1.35 and previous March lows.\u00a0 The EUR\/USD has shown quite a bit of resilience over the past month considering the extent of the currency pair\u2019s downturn during January and the beginning of February.\u00a0 It will be interesting to see if the EUR\/USD can manage a stop side breakout from this new base over the near-term, or whether another wave of selling disables the currency pair.\u00a0 Overall, the longer the EUR\/USD can consolidate with a slight upward trajectory, the better off the currency pair could be in the medium-term.\u00a0 However, we will have to wait and see how events unfold.\u00a0 Meanwhile, our downtrend lines are drawing nearer, meaning the EUR\/USD has the potential for some accelerated topside movements should fundamentals and\/or psychological cooperate.\u00a0 We also take note that the EUR\/USD is getting closer to our 5th tier downtrend line, which runs through the 1.4550 area.\u00a0 Hence, this gives you an idea of the kind of topside potential the currency pair has.\u00a0 The EU will continue to be quiet on the data wire for the remainder of the week, meaning tomorrow\u2019s U.S. Retail Sales and UoM releases will likely garner the spotlight.<\/p>\n

Technically speaking, the EUR\/USD faces multiple downtrend lines along with 3\/8 and 3\/3 highs.\u00a0 Our 4th tier downtrend line could serve as a key resistance since it runs through 2\/9 highs, or the 1.38 area.\u00a0 As we explained before, our 5th tier could also serve as a key barrier in regards to the medium-term outlook for the EUR\/USD since it runs through the 1.4550 area.\u00a0 As for the downside, the EUR\/USD has several uptrend lines serving as technical cushions along with 3\/5 and 3\/2 lows.\u00a0 Meanwhile, the psychological 1.35 area could continue to have an impact on price movements.
\nPresent Price: 1.3630<\/p>\n

Resistances: 1.3637, 1.3654, 1.3672, 1.3691, 1.3713, 1.3733<\/p>\n

Supports:\u00a0 1.3618, 1.3602, 1.3579, 1.3559, 1.3542, 1.3528<\/p>\n

Psychological: March and February Lows, 1.35<\/p>\n

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

(click chart 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":"

By Fast Brokers – Greece experienced another wave of protests today as the government looks to implement its aggressive austerity package.\u00a0 However, the Euro has shown little reaction to the protests since Greece is still expected to go ahead with the austerity measures despite public disapproval.\u00a0 Meanwhile, the EUR\/USD is hold strong within its tight … <\/p>\n

Continue reading “EUR\/USD Stays Range Bound Amid Protests in Greece”<\/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-7512","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7512","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=7512"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7512\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}