{"id":9373,"date":"2010-05-12T11:59:47","date_gmt":"2010-05-12T15:59:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9373"},"modified":"2010-05-12T11:59:47","modified_gmt":"2010-05-12T15:59:47","slug":"eurusd-looks-to-stay-above-56-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/eurusd-looks-to-stay-above-56-lows\/","title":{"rendered":"EUR\/USD Looks to Stay Above 5\/6 Lows"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The EUR\/USD has bounced off intraday lows as the currency pair tries to calm down from what has been a volatile week and a half.\u00a0 In fact, trading has been so volatile that today\u2019s 100bp+ trading range looks like consolidation.\u00a0 The EUR\/USD is battling to avoid a retest of 5\/6 lows and its psychological 1.25 level as investors react to news that Spain has announced a few austerity measures in order to reign in its budget deficit.\u00a0 Though the austerity measures aren\u2019t an end-all solution, they\u2019re a good start.\u00a0 Although U.S. equities are rallying on the news, Euro investors haven\u2019t bought into the optimism, keeping the EUR\/USD at bay.\u00a0 In addition to the positive news from Spain, German and EU prelim GDP data points both topped analyst expectations while industrial production picked up speed.\u00a0\u00a0 Hence, EU fundamentals continue to improve as demand for exports increases with a weakening Euro.\u00a0 On the other hand, this data comes before last week\u2019s collapse, so the bulls are restraining themselves for now.\u00a0 The EU will be on a banking holiday tomorrow, leaving movements in the EUR\/USD up to present momentum and any game changing events from the UK or U.S.<\/p>\n<p>Technically speaking, the EUR\/USD clearly faces an uphill battle with a wealth of downtrend lines hanging over head.\u00a0 Additionally, the EUR\/USD faces technical barriers in the form of intraday, 5\/11, and 5\/10 highs along with the psychological 1.28, 1.29, and 1.30 areas.\u00a0 As for the downside, the EUR\/USD has a limited near-term support system in the form of intraday and 5\/6 lows along with the psychological 1.26 and 1.25 levels.<\/p>\n<p>Present Price: 1.2690<br \/>\nResistances: 1.2704, 1.2734, 1.2758, 1.2779, 1.2807, 1.2819, 1.2854<br \/>\nSupports:\u00a0\u00a0 1.2671, 1.2652, 1.2622, 1.2603, 1.2581, 1.2521<br \/>\nPsychological: May 2010 lows, March 2009 lows, October 2008 lows, 1.28, 1.27, 1.26, 1.25<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May11Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May11Euro.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 bounced off intraday lows as the currency pair tries to calm down from what has been a volatile week and a half.\u00a0 In fact, trading has been so volatile that today\u2019s 100bp+ trading range looks like consolidation.\u00a0 The EUR\/USD is battling to avoid a retest of 5\/6 lows &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/eurusd-looks-to-stay-above-56-lows\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Looks to Stay Above 5\/6 Lows&#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-9373","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9373","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=9373"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9373\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}