http://www.fxstreet.com/technical/analysis-reports/technical-research/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-06.htmlDaily Market Commentary EUR/USD Fluctuates Despite Negative U.S. Unemployment Data The EUR/USD is fluctuating around our 1st tier downtrend and 4th tier uptrend lines as investors digest the worse than expected U.S. unemployment data. The headline Unemployment Rate breached 10% (10.2%) and the services unemployment change data also came in weaker than anticipated. While we would normally expect a sharp pullback in the EUR/USD and broad-based preference for the Dollar in reaction to the news,Fri, 06 Nov 2009 16:40:20 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-05.htmlDaily Market Commentary EUR/USD Jumps Higher after ECB Policy Decision Both the EUR/USD and GBP/USD registered an initial positive reaction to their respective monetary policy decisions. The ECB and BoE kept their interest rates at their present levels, yet the BoE only increased its QE packaged by 25 billion Pounds vs 50 expected. Meanwhile, the ECB isn’t budging on their language that their will practice a gradual removal of alternative liquidity measures from the monetary system. Therefore,Thu, 05 Nov 2009 15:32:01 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-04.htmlDaily Market Commentary EUR/USD Experiences Solid Recovery from Tuesday Lows The EUR/USD logged sizable losses yesterday as we witnessed a broad-based preference for the Greenback despite a breakout in gold and U.S. equities ending slightly positive. Therefore, it seems downward momentum was more in control than correlations and fundamentals. Speaking of gold, yesterday’s breakout was impressive, and the precious metal is looking to test its psychological $1100/oz level. Though much of gold’sWed, 04 Nov 2009 16:27:54 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-02.htmlDaily Market Commentary EUR/USD Hovers Around Our 1st Tier Uptrend Line The EUR/USD’s trading right around where we left it on Friday. The currency pair found strength once again just around our 2nd uptrend line, setting a slightly higher low than Thursday. However, downward forces remain since last week’s global econ data ended on a sour note. German Retail Sales printed 12 basis points lower than analyst expectations, negating Thursday’s positive Employment Change number. Furthermore,Mon, 02 Nov 2009 16:25:05 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-11-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-30.htmlDaily Market Commentary EUR/USD Tops Out Below 10/27 Highs The EUR/USD is under some selling pressure today after yesterday’s rally fueled by U.S. Prelim GDP data failed to overcome 10/27 highs, let alone our 1st tier downtrend line. Additionally, yesterday’s buy-side volume came in well below Tuesday’s pop in sell-side activity. As a result, a negative investor sentiment remains in regards to the performance of riskier investment vehicles. The AUD/USD, Cable, and gold are also heading southFri, 30 Oct 2009 17:15:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-30.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-28.htmlDaily Market Commentary EUR/USD Consolidates above 10/13 Lows The EUR/USD has undergone encouraging consolidation along what is now our 3rd tier uptrend line. Present consolidation comes with a sigh of relief considering the extent of the selloff in the EUR/USD thus far this week. Investors are encouraged by the better than expected Core DGO data even though the headline figure printed shallow by two basis points. Since the EU’s economy relies heavily upon manufacturing, the solid Core DGOWed, 28 Oct 2009 16:06:28 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-27.htmlDaily Market Commentary EUR/USD Drops Beneath 10/19 Lows The EUR/USD skidded below its highly psychological 1.50 level yesterday in reaction to the selloff in U.S. equities. We didn’t receive much pertinent econ data or news from the EU on Monday, telling us weakness in the Euro was fueled by overbought conditions and the pullback in the S&P futures. The EU released its M3 Money Supply data today, and the figure came in 3 basis points below expectations at 1.8%. The rapid downturn in M3Tue, 27 Oct 2009 16:28:49 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-26.htmlDaily Market Commentary EUR/USD Consolidates Around 1.50 The EUR/USD is continuing its consolidation around the highly psychological 1.50 mark after Germany’s Consumer Climate number came in weak as anticipated. Despite the miss, the EUR/USD is showing little reaction since today’s data reading could be just a bump in the road to improvement and doesn’t confirm a material slowdown. Psychologically, the Euro is getting a bit of support today after a Chinese official released a statementMon, 26 Oct 2009 16:28:15 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-23.htmlDaily Market Commentary EUR/USD Retreats with U.S. equities and Broad Dollar Strength Investors are favoring the Dollar today after Q3 earnings continued to roll in positively, most notably MSFT and AMZN. Furthermore, U.S. Existing Home Sales blew past estimates while Britain’s Prelim GDP printed a shocking -0.4%. Therefore, investors are suddenly favoring the U.S. economy, and are heading towards the Dollar in speculation that the Fed may be able to tighten sooner than anticipated. However,Fri, 23 Oct 2009 18:00:33 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-22.htmlDaily Market Commentary EUR/USD Battles with 1.50 The EUR/USD is back wrestling with the highly psychological 1.50 level after breaking through the barrier yesterday. We view yesterday’s movement as an important technical development since we previously explained how 1.50 represents our final topside barrier before 1.55. Hence, we could be on the brink of another near-term breakout in the currency pair should tomorrow’s EU PMI data print well. On a cautionary note, headwinds are gainingThu, 22 Oct 2009 16:01:03 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-22.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-20.htmlDaily Market Commentary EUR/USD Consolidates after Taking another Swing at 1.50 The EUR/USD has failed to top 1.50 once again and the level is having as much psychological influence as we anticipated. 1.50 separates the EUR/USD from consolidation and exciting near-term gains. The currency pair has toppled the rest of our foreseeable near-term obstacles, leaving 1.50 as the final test for the bulls. Meanwhile, the Cable has approached 1.65 and is a close downtrend line away from making anotherTue, 20 Oct 2009 16:08:14 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-16.htmlDaily Market Commentary EUR/USD Forms Double Top Below 1.50 The EUR/USD’s upswing continued yesterday, yet hit a will just beneath the highly psychological 1.50 level as anticipated. The EUR/USD failed to fully participate in the equity rally and has formed a double top with a pop in volume on a 4 hour down-bar. We notice similar weakness in gold while the EUR/GBP has been hit with huge losses over the past 24 hours. The best explanation for the Euro’s present weakness is overbought conditionsFri, 16 Oct 2009 18:34:20 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-16.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-14.htmlDaily Market Commentary EUR/USD Continues its Climb Towards 1.50 The EUR/USD has continued to climb beyond our 3rd tier downtrend line as we anticipated. As we mentioned in yesterday’s analysis, we view the movement past our 3rd tier and September highs as a key development in regards to a new leg up for the currency pair. The EUR/USD is not hovering around 8/21/08 highs and appears poised to take a crack at the highly psychological 1.50 level. There’s not much historical resistance aboveWed, 14 Oct 2009 16:52:14 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-13.htmlDaily Market Commentary EUR/USD Pops Past September Highs The EUR/USD has broken through our 3rd tier downtrend line and consequently September highs. Though the currency pair is trading off of intraday highs, today’s move will likely prove to be an important step for the beginning of a new leg up. Our 3rd tier is the final foreseeable downtrend line for the near future. Therefore, barring a large immediate reversal, the EUR/USD may have finally broken loose of its top-end constraints. Today’sTue, 13 Oct 2009 16:31:17 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-09.htmlDaily Market Commentary EUR/USD Settles above Thursday Lows Following French IP The EUR/USD is settling above Thursday lows and our 3rd tier uptrend line after pulling back from Thursday highs. Much better than expected French Industrial Production data is helping buoy the Euro after investors decided to lock in profits earlier. The outperformance of French versus German econ data stems from the negatively mixed PMI numbers we received a couple weeks back. The underperformance of Germany’sFri, 09 Oct 2009 15:46:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-09.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-08.v02.htmlDaily Market Commentary EUR/USD Trades Higher Ahead of ECB Statement The EUR/USD has taken another small leg up as traders await the ECB’s monetary policy decision. Though most analysts are expecting the ECB to keep its policy unchanged, investors have been riding the EUR/USD higher in anticipation of future rate hikes. The RBA’s ¼ point raise has negatively impacted the Dollar across the board. Investors are coming to reality that the exit strategies will have to come into effect sooner orThu, 08 Oct 2009 14:27:07 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-08.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-06.htmlDaily Market Commentary EUR/USD Strengthens Towards September Highs The Euro’s relative strength is paying dividends today as investors exit the Dollar following a surprise 25 basis point rate hike from the RBA. We recognize broad-based weakness in the Dollar as a result, particularly against the Aussie and Kiwi. Additionally, gold has rocketed to new all-time highs, a negative catalyst for the Dollar. The RBA is the first central bank to raise rates following the massive flood of liquidity toTue, 06 Oct 2009 19:11:18 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-02.htmlDaily Market Commentary EUR/USD Declines Towards 1.45 with Slide in Equities The EUR/USD has followed U.S. equities lower, dropping through our 4th tier uptrend line before tapping the psychological 1.45 level. Though the EUR/USD bounced off of our 1st tier downtrend line, the currency pair continues to drift lower as strong bearish forces take control of the market as a whole. We point out key technical declines in the S&P futures and the GBP/USD while the USD/JPY continues to dragFri, 02 Oct 2009 15:15:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-10-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-30.htmlDaily Market Commentary EUR/USD Buckles Following Weak U.S. Employment Data Today’s rally in the EUR/USD has hit a roadblock after America’s ADP Non-Farm Employment Change number came in well below analyst expectations. Today’s release couples with yesterday’s disappointing CB Consumer Confidence release. Therefore, the U.S. continues to send negatively mixed signals, hampering the global economic outlook. In contrast to weak U.S. data, Germany’s Unemployment Change number came in belowWed, 30 Sep 2009 16:07:23 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-30.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-28.htmlDaily Market Commentary EUR/USD Climbs Back Above 9/21 Lows The EUR/USD is trading back above 9/21 lows, recovering from earlier losses while avoiding a retest of 1.45. Meanwhile, the EUR/GBP is trading off of intraday highs after touching .93. Therefore, the EUR/USD is rebounding with a broad-based dip in the Dollar rather than thriving off of the Euro’s relative strength. We may continue to see the EUR/USD behave more closely to its correlations throughout the week rather than relying onMon, 28 Sep 2009 16:36:01 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-24.htmlDaily Market Commentary EUR/USD Consolidates as Cable Implodes Broad-based strength in the Dollar and U.S. equities is dragging and the EUR/USD is consolidating below September highs in reaction. We recognize technically significant pullbacks in crude and the Cable, indicating a more debilitating downturn may be approaching. Meanwhile, the S&P futures are sinking below our 2nd tier uptrend line, and are looking to test our important 1st tier uptrend line. The Euro continues to flex aThu, 24 Sep 2009 17:18:45 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-24.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-23.htmlDaily Market Commentary EUR/USD Pulls Back in the Wake of Weak PMI Data The EUR/USD is pulling back from intraday highs after EU PMI data disappointed for the most part. While France’s PMI data outperformed, Germany’s came in surprisingly mixed, resulting in subpar headline EU PMI numbers. The disappointing PMI results are creating a relative weakness in the Euro, dragging down on what was clearly an overbought EUR/GBP. Although the PMI numbers were negatively mixed, all of the data pointsWed, 23 Sep 2009 16:32:34 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-21.htmlDaily Market Commentary EUR/USD Experiences Profit-Taking as Investors Await PMI The EUR/USD is experiencing profit-taking as investors lock-in some gains. The lack of global economic data provides a great opportunity for profit-taking. We notice profit-taking across the board, from equities to crude to the Yen. Investors won’t receive noteworthy econ data until Wednesday’s rush of EU PMI data grouped with BoE and Fed monetary policy decisions. The Greenback’s broad-based strength is notMon, 21 Sep 2009 17:20:19 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-18.htmlDaily Market Commentary EUR/USD Consolidates Following Surge in Current Account The EUR/USD is holding strong and consolidating above our 3rd tier uptrend line as the currency pair experiences a couple moderately-weighted inflection points. German PPI and the EU’s Current Account data came in well above analyst expectations. Hence, the positive string of data from the EU continues, supporting the EU’s steadfast monetary policy stance. The combination of rising prices and increased demand forFri, 18 Sep 2009 17:27:44 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-17.htmlDaily Market Commentary EUR/USD Trades off Weekly Highs Amid Profit-Taking The EUR/USD’s medium-term uptrend flexed its muscles yesterday, driving past 1.47 on solid buy-side activity. The EUR/USD benefitted greatly from a return to risk following better than expected U.S. Industrial Production and Capacity Utilization. As we explained in our previous analysis, the EUR/USD had few technical barriers to the topside, allowing for accelerated gains in the currency pair. However, the bulls ran outThu, 17 Sep 2009 16:45:02 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-17.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-15.htmlDaily Market Commentary EUR/USD Dips Following Positive Wave of U.S. Econ Data The EUR/USD is heading south along with the GBP/USD and gold while the USD/JPY pops following a much better than expected wave of economic data from the U.S. Strength in the Dollar off of positive U.S. econ data is the opposite reaction of what we’d normally expect. Therefore, we are witnessing an interesting alteration in sentiment as investors favor the Dollar due to comparative strength of the U.S. economy. WeTue, 15 Sep 2009 16:47:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-14.htmlDaily Market Commentary EUR/USD Balances with Upward Momentum Intact The EUR/USD is gravitating around the psychological 1.45 area as we suspected may happen. However, the EUR/USD is recovering quickly from losses earlier today by bouncing off of our 2nd tier uptrend line. Meanwhile, our 3rd tier uptrend line is reaching an inflection point with our makeshift 1st tier downtrend line. We say makeshift because the best we could do to form a downtrend line was to connect through last week’sMon, 14 Sep 2009 17:27:11 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-10.htmlDaily Market Commentary EUR/USD Looks to Continue its Run after Tuesday’s Key Movement The EUR/USD is looking to wrestle free of its slight consolidative period following Tuesday’s important movement to the topside. As we explained in our previous analysis, the EUR/USD jumping past our previous 3rd tier downtrend line and August highs was a clear technical message in favor of the uptrend following heavy summer consolidation. However, volume has tailed off a bit since then, and investors areThu, 10 Sep 2009 16:26:36 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-10.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-08.htmlDaily Market Commentary EUR/USD Flies as FX Markets Come to Life The EUR/USD is screaming higher and we are witnessing the return to volatility forewarned by the multiple inflection points of our trend lines on both the EUR/USD and GBP/USD. Investors started the fall with the bang and we may finally be The Dollar is depreciating swiftly across the board as investors react to the surge in gold and a wave of statements predicting a large, medium-term flight from the Dollar due to the massiveTue, 08 Sep 2009 17:33:41 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-08.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-04.htmlDaily Market Commentary EUR/USD Continues its Consolidation Between our Trend Lines The EUR/USD is consolidating between our trend lines as they creep towards their respective inflection points. The EUR/USD is trading lower this morning after America’s headline Unemployment Rate came in two basis points higher than analyst expectations. However, the EUR/USD is bouncing off of our 1st tier uptrend line, and it appears the currency pair may opt to stay within the bounds of our trend line tradingFri, 04 Sep 2009 17:26:22 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-03.htmlEUR/USD Fluctuates Between our Trend Lines as Inflection Approaches The EUR/USD posted a solid recovery yesterday, exhibiting more strength than we expected considering Thursday’s economic data was nothing to cheer about. Furthermore, the S&P futures hung beneath 1000, providing little motive to devalue the Dollar. Investors may have been reacting to the breakout in gold since the Dollar has been negatively correlated with the Greenback. Gold surged to $980/oz and was the talk of the town.Thu, 03 Sep 2009 16:30:50 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-03.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-02.htmlDaily Market Commentary EUR/USD Drops Quickly Despite Satisfactory Data The EUR/USD experienced a heightened selloff Tuesday despite the German Unemployment Change coming in below analyst expectations and the EU Unemployment Rate satisfying estimates at 9.5%. Instead of holding steady, the EUR/USD plunged below all of our previous uptrend lines on climbing sell-side volume. The EUR/USD was following crude and the S&P futures lower as global equity markets were under selling pressure. TheWed, 02 Sep 2009 17:28:38 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-09-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-31.htmlDaily Market Commentary EUR/USD Edges Lower Despite Encouraging Flash CPI The EUR/USD gave us a head-fake to the topside yesterday, instead deciding to submit to the downward force of its trading range. The EUR/USD is fighting to stay above our 2nd tier uptrend line and previous bottom-end support of 1.4281 as investors digest the nearly -7% decline in China’s SCI. The EUR/USD’s inability to charge past our 4th tier downtrend line despite solid buy-side volume is a bit disconcerting. However,Mon, 31 Aug 2009 17:23:17 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-31.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-28.v02.htmlDaily Market Commentary EUR/USD Climbs above our 4th Tier Downtrend Line The EUR/USD has popped above our key 4th tier downtrend line after the combination of better than expected U.S. and British GDP data with an encouraging EU Services Confidence number has motivated bulls to re-enter the risk pool. The S&P futures are knocking at the door of their previous 2009 highs while the 30 Year T-Bond futures drop like a rock. To top the cake, gold is registering an explosive move to the topside.Fri, 28 Aug 2009 16:08:36 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-28.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-26.htmlDaily Market Commentary EUR/USD Skids Following Durable Goods Data The EUR/USD is heading south towards the lower end of its weekly trading range after U.S. Core Durable Goods Orders came in two basis points below analyst expectations. The durable goods number is outweighing a better than expected German Ifo Business Climate release. Referring to yesterday’s post, we explained that U.S. demand for durable goods has a strong influence on the EU economy since EU GDP is highly reliant on exportsWed, 26 Aug 2009 16:52:56 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-25.htmlDaily Market Commentary EUR/USD Jogs Between our Trend Lines The EUR/USD is recovering from earlier losses, bouncing from our 2nd tier uptrend line as the S&P futures float well above their psychological 1000 mark. The Euro has exerted incredible relative strength lately, exhibited by the breakout in the EUR/GBP. Euro bulls were inspired by Friday’s EU PMI data coupled with yesterday’s better than expected Industrial Production release. Industrial Production registered its strongest levelTue, 25 Aug 2009 16:26:59 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-25.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-21.htmlDaily Market Commentary EUR/USD Pops Above 8/13 Highs after Positive PMI Data The EUR/USD is making a solid move higher past 8/13-8/14 highs after the wave of PMI data came in above analyst expectations. In fact, a couple PMI data points are registering expansion (50+) while the rest are making a strong case to do the same. Such positive improvements in data tend to have a larger impact on the EUR/USD than the GBP/USD since the ECB’s interest rate remains at 1%. The growth in PMI mirrors theFri, 21 Aug 2009 18:40:21 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-20.htmlDaily Market Commentary EUR/USD Awaits Friday’s Wave of PMI Data The EUR/USD jumped over our 3rd tier uptrend and 2nd tier downtrend lines despite very disappointing German PPI and EU Current Account numbers yesterday. Germany’s collapse in PPI adds onto last week’s decline in EU CPI. Hence, EU prices are freefalling while producer prices decline at a faster rate than consumer prices. Therefore, the ECB may be inclined to inject more liquidity since they have held a relatively neutral monetaryThu, 20 Aug 2009 16:36:17 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-18.htmlDaily Market Commentary EUR/USD Fights to Stay Above 1.40 and 7/29 Lows EUR/USD is looking to recoup some of yesterday’s losses after ZEW Economic Sentiment data blew past expectations and registered expansion (50+). However, gains are being contained by weak PPI and housing data from the U.S. The S&P futures have also been under considerable downward pressure as investors cash in on overbought conditions. Europe’s impressive sentiment reflects the better than expected GDP data we saw lastTue, 18 Aug 2009 16:58:32 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-14.htmlEUR/USD Sinks After More Negative U.S. Data The EUR/USD has dropped through our 3rd tier uptrend line after America’s U of M Consumer Sentiment number came in weaker than expected. Today’s pullback in consumer sentiment adds to yesterday’s disappointing retail sales data. The battered American consumer is not making a return as quickly as analysts hoped due to the persistently high level of unemployment. The S&P futures are off nearly -2% and crude is trading lower by over -3.5% inFri, 14 Aug 2009 17:24:34 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fastbrokers.com (FastBrokersFX)http://www.fxstreet.com/technical/analysis-reports/technical-research/2009-08-14.html