{"id":8170,"date":"2010-04-01T12:37:30","date_gmt":"2010-04-01T16:37:30","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8170"},"modified":"2010-04-01T12:37:30","modified_gmt":"2010-04-01T16:37:30","slug":"eurusd-hovers-around-1-35-ahead-of-u-s-manufacturing-pmi","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/eurusd-hovers-around-1-35-ahead-of-u-s-manufacturing-pmi\/","title":{"rendered":"EUR\/USD Hovers Around 1.35 Ahead of U.S. Manufacturing PMI"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is hovering around its psychological 1.35 area as investors await America\u2019s Manufacturing PMI data.\u00a0 Despite this being a session filled with data releases, the EU only printed German Retail Sales, which came in 4 basis points below analyst expectations.\u00a0 Hence, the EUR\/USD seems to be following its broad-based Dollar correlation.\u00a0 However, the Euro is presently being outperformed by the Pound, highlighted by the continual slide of the EUR\/GBP.\u00a0 Part of the Euro\u2019s relative weakness likely stems from recent declines in Greek bonds.\u00a0 Yields on Greek bonds have risen since the EU\u2019s pact, placing some downward pressure on the Euro since the EU may be forced to act on its agreement should Greek bonds continue their decline.\u00a0 Meanwhile, it will be interesting to see how the EUR\/USD reacts to upcoming U.S. data.\u00a0 Should U.S. data outperform, this could place downward pressure on the EUR\/USD with investors favoring the U.S. economy due to fiscal uncertainties in the EU.\u00a0 Although volume will likely be on the light side tomorrow due to banking holidays, the U.S. will release its highly anticipated Non-Farm Employment Change and headline Unemployment Rate data.\u00a0 If U.S. employment data impresses, this could also lead investors towards the Dollar, and vice versa.\u00a0 Due to the anticipation of light volume, investors may want to prepare for high volatility.<\/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: 1.3511
\nResistances: 1.3512, 1.3521, 1.3534, 1.3547, 1.3562, 1.3569
\nSupports:\u00a0 1.3496, 1.3486, 1.3477, 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 hovering around its psychological 1.35 area as investors await America\u2019s Manufacturing PMI data.\u00a0 Despite this being a session filled with data releases, the EU only printed German Retail Sales, which came in 4 basis points below analyst expectations.\u00a0 Hence, the EUR\/USD seems to be following its broad-based Dollar … <\/p>\n

Continue reading “EUR\/USD Hovers Around 1.35 Ahead of U.S. Manufacturing PMI”<\/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-8170","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8170","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=8170"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8170\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}