{"id":8131,"date":"2010-03-31T13:14:25","date_gmt":"2010-03-31T17:14:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8131"},"modified":"2010-03-31T13:14:25","modified_gmt":"2010-03-31T17:14:25","slug":"eurusd-shoots-higher-as-eu-outperforms-u-s","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/31\/eurusd-shoots-higher-as-eu-outperforms-u-s\/","title":{"rendered":"EUR\/USD Shoots Higher as EU Outperforms U.S."},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is logging large intraday while attempting a test of yesterday\u2019s highs.\u00a0 The EUR\/USD has climbed back above its highly psychological 1.35 level and it will be interesting if this momentum holds.\u00a0 The Euro is outperforming in reaction to a pop in Flash CPI coupled with a larger than expected decline in the German Unemployment Change.\u00a0 An improvement in employment and rising prices supports the ECB\u2019s decision to keep its monetary in check.\u00a0 Additionally, good fundamentals from the EU are very welcome considering the psychological toll fiscal troubles in Greece and now Portugal have taken on the Euro.\u00a0 Positive data from the EU contrasts disappointing numbers from the U.S.\u00a0 The ADP and Chicago PMI both missed estimates, striking a blow to confidence surrounding America\u2019s economic recovery.\u00a0 However, the ADP has been known to deviate from the headline, meaning more emphasis will likely be placed on Friday\u2019s employment data.\u00a0 Regardless, the EU outperforming the U.S. has helped the EUR\/USD move higher, in effect squeezing some of the countless short sellers.\u00a0 Although the EU will be quiet tomorrow, investors will receive a wealth of data from around the globe.\u00a0 Beginning in Asia, Japan will print the Tankan along with Australia\u2019s Trade Balance and China\u2019s Manufacturing PMI.\u00a0 During the Western session the UK and U.S. will also print their Manufacturing Production figures along with other key data points.\u00a0 Hence, tomorrow could prove to be a very active session in the FX markets throughout the day.<\/p>\n

Technically speaking, the EUR\/USD is testing the patience of its highly psychological 1.35 level with multiple downtrend lines hanging overhead.\u00a0 The EUR\/USD also faces technical barriers in the form of 3\/30, 3\/23, and 3\/19 highs.\u00a0 As for the downside, the EUR\/USD has multiple uptrend lines serving as technical cushions along with intraday and 3\/25 lows.<\/p>\n

Present Price: 1.3519
\nResistances: 1.3521, 1.3537, 1.3546, 1.3562, 1.3569, 1.3589
\nSupports:\u00a0 1.3509, 1.3494, 1.3481, 1.3469, 1.3459, 1.3446
\nPsychological: March lows, 1.35, 1.34<\/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 is logging large intraday while attempting a test of yesterday\u2019s highs.\u00a0 The EUR\/USD has climbed back above its highly psychological 1.35 level and it will be interesting if this momentum holds.\u00a0 The Euro is outperforming in reaction to a pop in Flash CPI coupled with a larger than expected … <\/p>\n

Continue reading “EUR\/USD Shoots Higher as EU Outperforms U.S.”<\/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-8131","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8131","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=8131"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8131\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}