{"id":9019,"date":"2010-05-03T08:45:40","date_gmt":"2010-05-03T12:45:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9019"},"modified":"2010-05-03T08:45:40","modified_gmt":"2010-05-03T12:45:40","slug":"eurusd-steps-lower-despite-150-billion-package","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/03\/eurusd-steps-lower-despite-150-billion-package\/","title":{"rendered":"EUR\/USD Steps Lower Despite $150 Billion Package"},"content":{"rendered":"

By Fast Brokers <\/strong>– The EUR\/USD has taken a step lower to start off the week, testing its psychological 1.32 level despite an agreement being reached in which the EU and IMF will provide Greece with roughly $150 billion over 3 years so long as austerity measures are implemented.\u00a0 Investors are reacting with speculation since some believe the plan is too little too late and won\u2019t prevent contagion.\u00a0 However, the aid package could prove helpful for the Euro over the near to medium term since it takes some of the pressure off of the EU region and it will take time to deduce whether the financial measures are sufficient in preventing a Greek tragedy.\u00a0 Meanwhile, it will be interesting to see how bond yields behave not only in Greece, but the other PIIGS nations as well.\u00a0 If bonds rise and yields head lower then downward pressure on the EUR\/USD may ease.\u00a0 Investors should keep in mind that EU data was fairly encouraging during the month of April and may otherwise have resulted in sufficient gains in the Euro if it wasn\u2019t for Greece\u2019s fiscal problems.\u00a0 On the other hands should yields remain at an abnormally high level and the financial aid proves unsuccessful then the downtrend could take hold of the EUR\/USD with a vengeance.\u00a0 Although the data wire is relatively quiet today, activity should really pick up as the week progresses.\u00a0 The ECB will have its monetary policy meeting on Thursday along with the UK\u2019s parliamentary elections.\u00a0 Investors will also receive key employment data from the U.S.\u00a0 As usual, there also remains the potential for a psychological flare, meaning investors should stay on their toes.\u00a0 Either way, this could prove to be a very eventful trading week.<\/p>\n

Technically speaking, the EUR\/USD faces mounting downtrend lines along with intraday and 4\/27 highs.\u00a0 Additionally, the psychological 1.33 and 1.34 levels could continue to serve as a psychological barrier over the near-term.\u00a0 As for the downside, the EUR\/USD has April 2010 and May 2009 lows serving as technical cushions along with the<\/p>\n

psychological 1.32, 1.31 and 1.30 trading zones.
\nPresent Price: 1.3246
\nResistances: 1.3251, 1.3269, 1.3295, 1.3311, 1.3326, 1.3347
\nSupports:\u00a0 1.3219, 1.3208, 1.3184, 1.3165, 1.3144, 1.3114
\nPsychological: April highs and lows, May 2009 lows, 1.33, 1.32, 1.31, 1.30<\/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 has taken a step lower to start off the week, testing its psychological 1.32 level despite an agreement being reached in which the EU and IMF will provide Greece with roughly $150 billion over 3 years so long as austerity measures are implemented.\u00a0 Investors are reacting with speculation since … <\/p>\n

Continue reading “EUR\/USD Steps Lower Despite $150 Billion Package”<\/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-9019","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9019","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=9019"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9019\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}