{"id":8748,"date":"2010-04-22T12:06:38","date_gmt":"2010-04-22T16:06:38","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8748"},"modified":"2010-04-22T12:06:38","modified_gmt":"2010-04-22T16:06:38","slug":"eurusd-knocked-lower-by-greece","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/eurusd-knocked-lower-by-greece\/","title":{"rendered":"EUR\/USD Knocked Lower by Greece"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The EUR\/USD is getting hammered after moving higher during the Asia trading session.\u00a0 Greek debt continues to set new all-time highs and is leaving beyond the 8% threshold.\u00a0 The yield is rising today after Greece reported a budget deficit of 13.6% of GDP, higher than analyst expectations.\u00a0 Additionally, the budget shortfall in the EU region hit an all-time high of 6.3%.\u00a0 This ignites speculation of contagion and is clearly weighing on the Euro as the currency slides against the Pound.\u00a0 The risk trade as a whole is taking a hit and extending intraday losses after U.S. Unemployment Claims remained above 450k.\u00a0 Nokia and QCOM earnings disappointed, souring the positive earnings so far this week.\u00a0 To top the cake, U.S. PPI printed stronger than anticipated, giving investors just another reason to favor the Dollar over the Euro.\u00a0 The EUR\/USD is now approaching key supports as a result, and it will be interesting to see whether the currency pair can withstand a test of previous April lows.\u00a0 Meanwhile, investors are casting aside more positive data from the EU region as Flash PMIs impressed.\u00a0 This adds onto the encouraging consumer confidence data we saw earlier this week.\u00a0 Hence, fiscal fears are dominating and the EUR\/USD could continue to get punished until negative psychological forces recede.\u00a0 The data wire will stay active tomorrow as the EU releases Germany\u2019s Ifo business climate index.\u00a0 Additionally, the U.S. will print its DGO and new home sales figures, meaning the trading week could end with a surge in activity.<\/p>\n<p>Technically speaking, the EUR\/USD is testing the patience of key uptrend lines now, particularly the 1st tier running through April lows.\u00a0 Therefore, 1.33 could prove to be a key psychological battleground.\u00a0 As for the topside, downtrends are accumulating and the EUR\/USD also faces technical barriers in the form of 4\/8, 4\/9, and intraday highs.<\/p>\n<p>Present Price: 1.3339<br \/>\nResistances: 1.3348, 1.3359, 1.3366, 1.3375, 1.3381, 1.3390<br \/>\nSupports:\u00a0 1.3337, 1.3330, 1.3324, 1.3314, 1.3306, 1.3296<br \/>\nPsychological: April highs and lows, 1.34, 1.33<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April22Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April22Euro.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 is getting hammered after moving higher during the Asia trading session.\u00a0 Greek debt continues to set new all-time highs and is leaving beyond the 8% threshold.\u00a0 The yield is rising today after Greece reported a budget deficit of 13.6% of GDP, higher than analyst expectations.\u00a0 Additionally, the budget shortfall &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/eurusd-knocked-lower-by-greece\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Knocked Lower by Greece&#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-8748","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8748","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=8748"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8748\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}