{"id":8570,"date":"2010-04-14T14:44:50","date_gmt":"2010-04-14T18:44:50","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8570"},"modified":"2010-04-14T14:44:50","modified_gmt":"2010-04-14T18:44:50","slug":"eurusd-continues-1-36-consolidation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/14\/eurusd-continues-1-36-consolidation\/","title":{"rendered":"EUR\/USD Continues 1.36 Consolidation"},"content":{"rendered":"

By Fast Brokers<\/strong> – The EUR\/USD is edging higher, yet is experiencing little activity considering the solid U.S. Retail Sales data.\u00a0 Both the core and the headline topped analyst expectations.\u00a0 While one may be led to believe this would be a Dollar positive, the risk trade is benefitting a bit from today\u2019s U.S. data set with the Aussie and Cable creeping higher.\u00a0 U.S. CPI came in a basis point below analyst expectations, showing inflation still isn\u2019t a concern and this gives the Fed an opportunity to extend its loose monetary policy, a Dollar negative.\u00a0 The EU did release stronger than expected Industrial Production data today, yet the Pound is outperforming the Euro, exhibited by weakness in the EUR\/GBP.\u00a0 Hence, there remains concern that the EU\u2019s proposed financial assistance will not be sufficient enough to stabilize Greece.\u00a0 In fact, George Soros joined El-Erian today by cautioning that Greece still faces considerable economic headwinds.\u00a0 Hence, any upward momentum in the Euro is being contained at the moment and it seems there will have to be a positive psychological breakthrough to really turn the corner.\u00a0 Although the EU will be relatively quiet on the data wire again tomorrow, investors will receive a key data set from China, including GDP and CPI.\u00a0 This will be followed by important U.S. manufacturing data, meaning tomorrow\u2019s trading session could experience heightened volatility.\u00a0 China will dominate the headlines, so investors should keep a close eye on the Dollar during the Asia trading session.<\/p>\n

Technically speaking, the EUR\/USD is continuing its consolidation pattern, meaning the near-term uptrend is still in play.\u00a0 However, there remain hefty downtrend forces weighing on the EUR\/USD including multiple downtrend lines.\u00a0 The EUR\/USD also faces technical barriers in the form of intraday and 4\/12 highs.\u00a0 Additionally, the 1.37 area could serve as a psychological barrier should it be tested.\u00a0 As for the downside, the EUR\/USD has multiple uptrend lines serving as technical cushions along with 4\/13 lows.\u00a0 The 1.35 level could serve as a solid support should it be reached.<\/p>\n

Present Price: 1.3630
\nResistances: 1.3642, 1.3655, 1.3663, 1.3675, 1.3685, 1.3692
\nSupports:\u00a0 1.3622, 1.3614, 1.3605, 1.3597, 1.3586
\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 edging higher, yet is experiencing little activity considering the solid U.S. Retail Sales data.\u00a0 Both the core and the headline topped analyst expectations.\u00a0 While one may be led to believe this would be a Dollar positive, the risk trade is benefitting a bit from today\u2019s U.S. data set … <\/p>\n

Continue reading “EUR\/USD Continues 1.36 Consolidation”<\/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-8570","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8570","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=8570"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8570\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}