{"id":170814,"date":"2020-05-20T09:30:10","date_gmt":"2020-05-20T13:30:10","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170814"},"modified":"2020-05-20T08:14:30","modified_gmt":"2020-05-20T12:14:30","slug":"euro-breaks-out-to-2-week-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/euro-breaks-out-to-2-week-high\/","title":{"rendered":"Euro Breaks Out To 2-Week High"},"content":{"rendered":"<div id=\"inves-3120022625\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 20, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <\/strong><a href=\"https:\/\/www.orbex.com\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Orbex<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/EURUSD_2005-750x430-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-170839\" src=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/EURUSD_2005-750x430-1.png\" alt=\"\" width=\"750\" height=\"430\" srcset=\"https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/EURUSD_2005-750x430-1.png 750w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/EURUSD_2005-750x430-1-160x92.png 160w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/EURUSD_2005-750x430-1-150x86.png 150w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/p>\n<p>The euro is building upon the dollar weakness as price broke out to a two-week high intraday before pulling back.<\/p>\n<p>This upside move now invalidates the head and shoulders pattern that we were watching.<\/p>\n<p>Price is reversing well before testing the 1.1000 level of resistance.<\/p>\n<p>This could suggest that further gains might be in store. But, a lot will depend on this current pullback.<\/p>\n<p>The minor support area is identified in the 1.0885 \u2013 1.0879 region.<\/p><div id=\"inves-2291013435\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>If price reverses at or near this level, we expect the common currency to potentially breakout above 1.1000 eventually.<\/p>\n<p><strong>By <\/strong><a href=\"https:\/\/www.orbex.com\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Orbex<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Orbex The euro is building upon the dollar weakness as price broke out to a two-week high intraday before pulling back. This upside move now invalidates the head and shoulders pattern that we were watching. Price is reversing well before testing the 1.1000 level of resistance. This could suggest that further gains might be [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170814","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170814"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170814\/revisions"}],"predecessor-version":[{"id":170841,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170814\/revisions\/170841"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}