{"id":9596,"date":"2010-05-20T12:02:13","date_gmt":"2010-05-20T16:02:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9596"},"modified":"2010-05-20T12:02:13","modified_gmt":"2010-05-20T16:02:13","slug":"eurusd-fluctuates-below-1-25","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/20\/eurusd-fluctuates-below-1-25\/","title":{"rendered":"EUR\/USD Fluctuates Below 1.25"},"content":{"rendered":"

By Fast Brokers<\/strong> – The rally from yesterday is softening and the EUR\/USD has been not been able to break through to its psychological 1.25 level.\u00a0 On a positive note, the currency pair is continuing its stabilization pattern, though it remains whether it will hold or just give way like on the 18th.\u00a0 There has been little news out of the EU besides the development that other nations are not joining Germany\u2019s plan to band short selling of government bonds and financials.\u00a0 Hence, the EU seems even more fractured with countries going their own route isn\u2019t of moving forwards in a more unified stance.\u00a0 Attention will likely remain focused on Germany as government officials vote on the $1 trillion rescue package.\u00a0 If by chance the German government doesn\u2019t approve the rescue package then we could see another swift selloff in the Euro, though disapproval is unlikely.\u00a0 The EU was relatively quiet on the data wire today besides German PPI, which printed a tad hotter than analyst expectations.\u00a0 However, the EU will light up the wire tomorrow by releasing its key PMI data set along with Germany\u2019s Ifo business climate figure.\u00a0 Hence, the trading week could end on a volatile note.\u00a0 If the PMI numbers print stronger than expected, this could help buoy the EUR\/USD granted there is no new negative psychological development regarding fiscal issues or the rescue package.<\/p>\n

Technically speaking, the EUR\/USD faces accumulating downtrend lines along with intraday and 5\/18 highs.\u00a0 Additionally, the 1.25 area should serve as a solid barrier should it be tested.\u00a0 As for the downside, the EUR\/USD has supports in the form of intraday and 5\/17 lows along with the psychological 1.21 and 1.20 areas.<\/p>\n

Present Price: 1.2330
\nResistances: 1.2347, 1.2363, 1.2383, 1.2413, 1.2432, 1.2456
\nSupports:\u00a0\u00a0 1.2326, 1.2307, 1.2286, 1.2268, 1.2245, 1.2233, 1.2213
\nPsychological: May 2010 lows, April 2006 lows, 1.24, 1.25, 1.23, 1.21, 1.20<\/p>\n

\"\"<\/a><\/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 rally from yesterday is softening and the EUR\/USD has been not been able to break through to its psychological 1.25 level.\u00a0 On a positive note, the currency pair is continuing its stabilization pattern, though it remains whether it will hold or just give way like on the 18th.\u00a0 There has … <\/p>\n

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