{"id":8722,"date":"2010-04-21T13:37:51","date_gmt":"2010-04-21T17:37:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8722"},"modified":"2010-04-21T13:37:51","modified_gmt":"2010-04-21T17:37:51","slug":"eurusd-trends-lower-with-underperforming-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/21\/eurusd-trends-lower-with-underperforming-euro\/","title":{"rendered":"EUR\/USD Trends Lower with Underperforming Euro"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The EUR\/USD has ducked below its psychological 1.34 level as Greek bond yields hit an unacceptable 8%.\u00a0 Hence, financial assistance from the EU seems imminent, fueling further uncertainty that the terms of the aid will be a feasible long-term solution for Greece to recover from its fiscal hole.\u00a0 With the EU quiet on the data wire today, investors have quickly forgotten yesterday\u2019s impressive economic sentiment, current account and PPI data.\u00a0 If uncertainty didn\u2019t continue to plague Greece, the EUR\/USD and Euro as a whole would likely be outperforming.\u00a0 However, this is not the case and psychological forces may influence the EUR\/USD for some time, or at least until investors are convinced that the financial assistance is sufficient.\u00a0 The U.S. will be quiet on the data wire today as well, meaning U.S. earnings will likely run the show barring any new developments in the Goldman case.\u00a0 Speaking of earnings, Morgan Stanley and Apple topped estimates and this could lead investors to favor the dollar due to the strong performance of corporate America.\u00a0 The data wire will get busy again tomorrow with the EU printing its Flash PMI data set followed by PPI and Existing Home Sales from the U.S.\u00a0 If the Flash PMI data comes in strong like yesterday\u2019s data this may help buoy the EUR\/USD and keep the currency pair above its April lows.<\/p>\n<p>Technically speaking, the EUR\/USD still has some solid uptrend lines in place despite its latest downturn.\u00a0 However, the currency pair is certainly beginning to test the patience of its support system, which includes intraday, 4\/9 and 4\/8 lows.\u00a0 As for the topside, the EUR\/USD faces barriers in the form of intraday and 4\/20 highs along with the psychological 1.34 and 1.35 levels.<\/p>\n<p>Present Price: 1.3399<br \/>\nResistances: 1.3410, 1.3418, 1.3425, 1.3435, 1.3443, 1.3454<br \/>\nSupports:\u00a0 1.3393, 1.3385, 1.3375, 1.3369, 1.3357, 1.3346<br \/>\nPsychological: April highs and lows, 1.35, 1.34, 1.33<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April21Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April21Euro.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 has ducked below its psychological 1.34 level as Greek bond yields hit an unacceptable 8%.\u00a0 Hence, financial assistance from the EU seems imminent, fueling further uncertainty that the terms of the aid will be a feasible long-term solution for Greece to recover from its fiscal hole.\u00a0 With the EU &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/21\/eurusd-trends-lower-with-underperforming-euro\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Trends Lower with Underperforming Euro&#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-8722","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8722","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=8722"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8722\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}