{"id":8491,"date":"2010-04-12T12:03:47","date_gmt":"2010-04-12T16:03:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8491"},"modified":"2010-04-12T12:03:47","modified_gmt":"2010-04-12T16:03:47","slug":"eurusd-surges-after-eu-gives-greece-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/12\/eurusd-surges-after-eu-gives-greece-support\/","title":{"rendered":"EUR\/USD Surges After EU Gives Greece Support"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The EUR\/USD surged when the markets opened, toppling previous April highs with ease and tapped 1.37 after the EU announced it will provide Greece with roughly $40 billion @ 5% and the IMF will cover the rest.\u00a0 The EU finally caved in to supporting Greece after Greek bonds collapsed last week and yields surged to a record high.\u00a0 Greece is satisfied with the aid pledge thus far, although 5% is a bit above what the government was hoping for.\u00a0 Regardless, the risk trade has received a boost of confidence as Greece fears ease.\u00a0 Additionally, this could be the burst that the EUR\/USD needs to shake free from its funk and piece together a nice uptrend, though we will have to see how conditions play out.\u00a0 Meanwhile, the data wire is calm until tomorrow when investors receive U.S. Trade Balance data.\u00a0 Since the EU will be quiet the Euro may continue to outperform unless there is a negative psychological development over the near-term.\u00a0 The story now becomes whether the EUR\/USD can sustain its new upward momentum and build a more substantial uptrend.<\/p>\n<p>Technically speaking, despite today\u2019s upswing the EUR\/USD faces fresh downtrend lines along with intraday, 3\/3, and March highs.\u00a0 As for the downside, the EUR\/USD has new uptrend lines serving as technical cushions along with intraday and 3\/5 lows.\u00a0 Additionally, the psychological 1.36 and 1.35 levels could serve as technical cushions for the near-term.<\/p>\n<p>Present Price: 1.3589<br \/>\nResistances: 1.3597, 1.3613, 1.3624, 1.3632, 1.3642, 1.3655<br \/>\nSupports:\u00a0 1.3586, 1.3577, 1.3563, 1.3551, 1.3540, 1.3531<br \/>\nPsychological: April and March highs, 1.35, 1.36, 1.37<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April12Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April12Euro.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/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 surged when the markets opened, toppling previous April highs with ease and tapped 1.37 after the EU announced it will provide Greece with roughly $40 billion @ 5% and the IMF will cover the rest.\u00a0 The EU finally caved in to supporting Greece after Greek bonds collapsed last week &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/12\/eurusd-surges-after-eu-gives-greece-support\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Surges After EU Gives Greece Support&#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-8491","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8491","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=8491"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8491\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}