{"id":8409,"date":"2010-04-08T16:50:16","date_gmt":"2010-04-08T20:50:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8409"},"modified":"2010-04-08T16:50:16","modified_gmt":"2010-04-08T20:50:16","slug":"forex-eurusd-comes-off-monthly-low-to-trade-at-1-3350","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/08\/forex-eurusd-comes-off-monthly-low-to-trade-at-1-3350\/","title":{"rendered":"FOREX: EUR\/USD comes off monthly low to trade at 1.3350"},"content":{"rendered":"<p><strong>By CountingPips.com<\/strong><\/p>\n<p>The euro, fresh off three days of  decline, has rebounded against the U.S. dollar today in the forex  market after touching a monthly low in early trading. Greece&#8217;s fragile  financial situation, rising bond spreads and speculation that it may  default on its debt has weighed on the European common currency and  earlier today brought the EUR\/USD to its lowest <img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-8410\" title=\"EuroSpread200x150\" src=\"http:\/\/countingpips.com\/fx\/wp-content\/uploads\/2010\/04\/EuroSpread200x150.gif\" alt=\"\" width=\"208\" height=\"170\" \/>level since March 25th  before reversing direction.<\/p>\n<p>The EUR\/USD started off the day at the 1.3331 exchange rate and  proceeded to fall to 1.3282 before rebounding to the  current exchange rate of 1.3352 near the end of the U.S. trading  session.<\/p>\n<p>The euro got some help today by comments from European Central Bank  President Jean-Claude Trichet after the ECB announced it was holding its  interest rate steady at 1.00 percent in an expected move. Trichet stated  that a sovereign default &#8220;is not an issue&#8221;, concerning Greece&#8217;s debt  difficulties and said that the previously agreed upon loan package was a  &#8220;workable framework&#8221;.<\/p>\n<p>The Greek government also announced today that the budget deficit for the  first quarter of 2010 shrank by 40 percent on annual basis. The budget deficit  fell from EUR 7.1 billion in last year&#8217;s first quarter to a EUR 4.3  billion deficit in the first quarter of this year.<\/p>\n<p><strong>EUR\/USD 1-Hour Chart<\/strong> &#8211; The Euro breaking out of its short-term downtrend versus the U.S. Dollar today in forex trading. The EUR\/USD had fallen for three straight days this week, declining below the 200-hour moving average (red) and dropped to an April low point today at 1.3282. The pair has rebounded to the 1.3350 area and right where the 50-hour simple moving average lies (purple).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-8412\" title=\"4-8-forex-eur-usd\" src=\"http:\/\/countingpips.com\/fx\/wp-content\/uploads\/2010\/04\/4-8-forex-eur-usd.gif\" alt=\"forex-eur-usd\" width=\"595\" height=\"400\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EUR\/USD started the day at the 1.3331 exchange rate and fell to a low of 1.3282&#8230;<\/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-8409","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8409","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=8409"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8409\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}