{"id":9937,"date":"2010-06-03T08:01:20","date_gmt":"2010-06-03T12:01:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9937"},"modified":"2010-06-03T08:01:20","modified_gmt":"2010-06-03T12:01:20","slug":"eurusd-climbs-higher-with-risk-trade","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/03\/eurusd-climbs-higher-with-risk-trade\/","title":{"rendered":"EUR\/USD Climbs Higher with Risk Trade"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The EUR\/USD tested 1.23 today as the currency pair benefitted from a broad-based risk rally.\u00a0 However, as of yet the EUR\/USD hasn\u2019t overcome any meaningful technical barriers despite today\u2019s huge gains in U.S. equities.\u00a0 Therefore, uncertainty continues to weigh on the F X markets and the EUR\/USD will likely need a substantial psychological or fundamental development to turn the tide.\u00a0 Unfortunately for the EUR\/USD, the EU has little data on the wire today, meaning the currency pair will be in the hands of psychological forces along with America\u2019s advance employment data.\u00a0 The U.S. and UK will also release their respective services PMI figures, meaning the EUR\/USD will likely just play along with its risk correlation.\u00a0 However, investors should still keep an eye on the news wire since these days it is wise to expect the unexpected from European countries which faces extraordinary fiscal pressures.\u00a0 Meanwhile, no news is good news and allows investor uncertainty to subside as the EUR\/USD tries to build a base above 1.20.<\/p>\n<p>Technically speaking, the EUR\/USD faces technical barriers in the form of mounting downtrend lines along with 6\/1 and 5\/28 highs.\u00a0 Additionally, the 1.25 level could serve as a strong resistance should it be tested.\u00a0 As for the downside, yesterday\u2019s break below May lows could prove to be an important technical event for the near-term.\u00a0 The EUR\/USD has supports in the form of 6\/1 lows and the highly psychological 1.20 area.<\/p>\n<p>Present Price: 1.2285<br \/>\nResistances: 1.2284, 1.2304, 1.2320, 1.2344, 1.2373, 1.2386, 1.2412<br \/>\nSupports:\u00a0\u00a0 1.2268, 1.2251, 1.2232, 1.2221, 1.2208, 1.2196, 1.2176<br \/>\nPsychological: June 2010 lows, March 2006 lows, 1.22, 1.20<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/June3Euro.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/June3Euro.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 tested 1.23 today as the currency pair benefitted from a broad-based risk rally.\u00a0 However, as of yet the EUR\/USD hasn\u2019t overcome any meaningful technical barriers despite today\u2019s huge gains in U.S. equities.\u00a0 Therefore, uncertainty continues to weigh on the F X markets and the EUR\/USD will likely need a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/03\/eurusd-climbs-higher-with-risk-trade\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD Climbs Higher with Risk Trade&#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-9937","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9937","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=9937"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9937\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}