{"id":7732,"date":"2010-03-19T12:35:39","date_gmt":"2010-03-19T16:35:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7732"},"modified":"2010-03-19T12:35:39","modified_gmt":"2010-03-19T16:35:39","slug":"eurusd-downturn-continues-with-eu-divided","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/eurusd-downturn-continues-with-eu-divided\/","title":{"rendered":"EUR\/USD Downturn Continues with EU Divided"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The EUR\/USD\u2019s slide has continued and the currency pair has been driven below our key medium-term downtrend again, throwing March\u2019s uptrend into question.\u00a0 The EUR\/USD is currently trading above some important supports and the currency needs a topside boost soon to avoid a more protracted selloff.\u00a0 The EUR\/USD came under further selling pressure yesterday after Merkel implied that the IMF may be the best route for Greece.\u00a0 Additionally, rumors spread that the Fed may raise the rate again at its emergency window.\u00a0 The concept of monetary ordering in the U.S. combined with division in the EU has resulted in a swift and hefty pullback in the EUR\/USD.\u00a0 Sarkozy made the waters even murkier today by reiterating France\u2019s opposition to IMF intervention and confirmed the EU\u2019s support for Greece.\u00a0 Hence, the two largest economies are squaring off, making next week very interesting since Greece provided a one week timeline for a solution.\u00a0 Psychological pressures have come to the forefront due to the lack of economic data today, though the EU will re-enter the fray on Tuesday with the release of its Flash PMI set along with Germany\u2019s Business Ifo Business Climate figure.\u00a0 Meanwhiel, it will be interesting to see whether the EUR\/USD can hold its psychological 1.35 level land March lows.<\/p>\n<p>Technically speaking, the EUR\/USD faces multiple downtrend lines along with intraday 2\/26, and 3\/3 highs.\u00a0 As for the downside, the EUR\/USD has several uptrend lines serving as technical cushions along with 3\/5 and 2\/23 lows.\u00a0 Meanwhile, the psychological 1.35 area could serve as a solid technical cushion should it be tested.<\/p>\n<p>Present Price: 1.3543<br \/>\nResistances: 1.3552, 1.3571, 1.3591, 1.3610, 1.3626, 1.3643<br \/>\nSupports:\u00a0 1.3527, 1.3513, 1.3498, 1.3483, 1.3471, 1.3457<br \/>\nPsychological: March and February Lows, 1.35<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/march19euro.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/march19euro.gif\" alt=\"\" width=\"595\" height=\"606\" \/><\/a><\/p>\n<p>(click chart 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 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<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\u2019s slide has continued and the currency pair has been driven below our key medium-term downtrend again, throwing March\u2019s uptrend into question.\u00a0 The EUR\/USD is currently trading above some important supports and the currency needs a topside boost soon to avoid a more protracted selloff.\u00a0 The EUR\/USD came under further &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/eurusd-downturn-continues-with-eu-divided\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Downturn Continues with EU Divided&#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-7732","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7732","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=7732"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7732\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}