{"id":7697,"date":"2010-03-18T14:04:59","date_gmt":"2010-03-18T18:04:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7697"},"modified":"2010-03-18T14:04:59","modified_gmt":"2010-03-18T18:04:59","slug":"eurusd-fights-to-stay-above-315-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/eurusd-fights-to-stay-above-315-lows\/","title":{"rendered":"EUR\/USD Fights To Stay Above 3\/15 Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD has undergone a hefty selloff today amid a rise in uncertainty in the EU region.\u00a0 Word has spread that Germany is reconsidering the option of Greece going to the IMF for financial assistance.\u00a0 Hence, it seems Germany is trying to call Greece\u2019s bluff since the government recently stated that it will head to the IMF if the EU cannot produce an attractive rescue package.\u00a0 Therefore, despite adamant support from France, Germany is still not on board with helping out Greece.\u00a0 The reappearance of uncertainty has delivered a negative psychological blow to the EUR\/USD and is resulting in further relative weakness in the Euro, as highlighted by a pullback in the EUR\/GBP.\u00a0 That being said, the EUR\/USD has managed to stay above 3\/15 lows for the time being and the currency pair is still quite a distance away from our key 1st tier downtrend line.\u00a0 However, we will have to monitor how the remainder of the trading session plays out to determine whether the recent uptrend has been snapped.\u00a0 Investors should keep an eye out for our 1st tier downtrend line since it runs through 2010 highs, or the 1.4575 area.\u00a0 The Dollar is showing a mixed reaction to today\u2019s U.S. economic data thus far.\u00a0 Unemployment Claims and CPI printed about in line with analyst expectations while the Current Account and Philly Fed index each came in solid.\u00a0 Hence, today\u2019s data set does have a positive U.S. bias.\u00a0 The EU released Current Account data of its own, which printed far below analyst expectations, signaling that export demand may have stalled.\u00a0 Germany will release its PPI tomorrow along with a public address from Trichet.\u00a0 However, investors will likely be focusing on any new developments regarding Greece\u2019s fiscal situation.<\/p>\n

Technically speaking, the EUR\/USD faces multiple downtrend lines along with intraday, 3\/3, and 3\/12 highs.\u00a0 As for the downside, the EUR\/USD has several uptrend lines serving as technical cushions along with 3\/15 and 3\/10 lows.\u00a0 Meanwhile, the psychological 1.35 area is still serving a technical cushion while 1.40 serves as a key psychological barrier.
\nPresent Price: 1.3665<\/p>\n

Resistances: 1.3684, 1.3693, 1.3704, 1.3713, 1.3725, 1.3740<\/p>\n

Supports:\u00a0 1.3667, 1.3653, 1.3637, 1.3620, 1.3603, 1.3586<\/p>\n

Psychological: March and February Lows, 1.35, 1.40, February highs<\/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 regarded neither 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 has undergone a hefty selloff today amid a rise in uncertainty in the EU region.\u00a0 Word has spread that Germany is reconsidering the option of Greece going to the IMF for financial assistance.\u00a0 Hence, it seems Germany is trying to call Greece\u2019s bluff since the government recently stated that … <\/p>\n

Continue reading “EUR\/USD Fights To Stay Above 3\/15 Lows”<\/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-7697","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7697","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=7697"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7697\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}