{"id":8532,"date":"2010-04-13T13:44:09","date_gmt":"2010-04-13T17:44:09","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8532"},"modified":"2010-04-13T13:44:09","modified_gmt":"2010-04-13T17:44:09","slug":"eurusd-hangs-around-1-36","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/eurusd-hangs-around-1-36\/","title":{"rendered":"EUR\/USD Hangs Around 1.36"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD is hanging around its psychological 1.36 area as FX markets yield limited activity due to a relatively quiet data wire.\u00a0 The Euro did receive a bit of good news today in the fact that Greece\u2019s debt auction received more buyers than anticipated, implying renewed investors confidence in the region following the EU\u2019s $40 billion aid offer.\u00a0 However, Pimco\u2019s El-Erian said that the investing giant is not interested in Greek bonds under the assumption that the EU\u2019s offer will prove insufficient in abating Greece\u2019s fiscal crisis.\u00a0 Therefore, investors are receiving mixed signals on the news wire today, keeping the EUR\/USD range bound.\u00a0 Additionally, a cool down from yesterday\u2019s topside breakout is reasonable as investors lock in profits.\u00a0 That being said, it will be important to see the EUR\/USD sustain its upward momentum so that this week\u2019s upswing can develop into a more reliable uptrend.\u00a0 The EU will be quiet on the data wire tomorrow, leaving the EUR\/USD under the near-term influence of U.S. data and comments from Bernanke.\u00a0 The U.S. will release Retail Sales and CPI data, which each tend to have a considerable impact on the greenback across the board.\u00a0 Hence, investors should gauge the Dollar\u2019s reaction to tomorrow\u2019s data flow, particularly if it prints better than expected.\u00a0 Strong U.S. data could lead investors to the Dollar via comparative economic strength.\u00a0 Investors will also be digesting earnings data as the reports kick off.<\/p>\n

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

Present Price: 1.3591
\nResistances: 1.3597, 1.3613, 1.3624, 1.3632, 1.3642, 1.3655
\nSupports:\u00a0 1.3586, 1.3577, 1.3563, 1.3551, 1.3540, 1.3531
\nPsychological: April and March highs, 1.35, 1.36, 1.37<\/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 hanging around its psychological 1.36 area as FX markets yield limited activity due to a relatively quiet data wire.\u00a0 The Euro did receive a bit of good news today in the fact that Greece\u2019s debt auction received more buyers than anticipated, implying renewed investors confidence in the region … <\/p>\n

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