{"id":59631,"date":"2014-09-01T09:18:26","date_gmt":"2014-09-01T13:18:26","guid":{"rendered":"http:\/\/countingpips.com\/?p=59631"},"modified":"2014-09-01T09:51:08","modified_gmt":"2014-09-01T13:51:08","slug":"technical-analysis-of-the-eurusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/technical-analysis-of-the-eurusd\/","title":{"rendered":"Technical Analysis of the EUR\/USD"},"content":{"rendered":"<div id=\"inves-621430677\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 1, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>Euro Oversold<\/p>\n<p>The Euro continues to make new lows and as the exchange rate approaches 1.31, a fresh 52-week low might fall.\u00a0 Prices continue to feel the broader push of divergent monetary policies between the U.S., which is reducing its bond purchases, and the ECB, which seems destine to in act a full scale QE if the LTRO program scheduled for September does not kick start the economy.<\/p>\n<p>The weekly chart of the Euro shows that negative momentum continues to accelerate.\u00a0 The MACD (moving average convergence divergence) index is printing in negative territory, with a downward sloping trajectory.\u00a0 The MACD generated a sell signal back in May and continues to point to a lower exchange rate.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2014\/09\/eur-090114w.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-3571\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2014\/09\/eur-090114w-300x197.png\" alt=\"eur-090114w\" width=\"300\" height=\"197\" \/><\/a><\/p>\n<p>The daily MACD of the Euro also shows an indicator that is pointing to lower future prices after generating a sell signal in late August.\u00a0 This occurs when the spread (the 12-day moving average minus the 26-day moving average) crosses below the 9-day moving average of the spread.\u00a0 The index moved from positive to negative territory confirming the sell signal.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2014\/09\/eur-090114t.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-3572\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2014\/09\/eur-090114t-300x196.png\" alt=\"eur-090114t\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>The Euro has been oversold for 10-consecutive trading sessions.\u00a0 The RSI (relative strength index) has been printing below the oversold trigger level of 30, which could mean that a correction could happen at any time.\u00a0 Traders could look for a scenario where traders buy the rumor (of a full scale QE) and sell the fact after the ECB meeting scheduled for this week.\u00a0 The RSI is currently printing a reading of 28 on the weekly chart and a very soft 25 on the daily chart.<\/p><div id=\"inves-1029497850\" 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>The RSI is not the only technical indicator reading an oversold condition.\u00a0 The Commodity Channel Index is printing a reading of -173 on a weekly basis.\u00a0 Readings below -100 reflect an oversold condition.\u00a0 The daily CCI is printing a reading that is slightly less oversold near -129.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Euro Oversold The Euro continues to make new lows and as the exchange rate approaches 1.31, a fresh 52-week low might fall.\u00a0 Prices continue to feel the broader push of divergent monetary policies between the U.S., which is reducing its bond purchases, and the ECB, which seems destine to in act a [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59631","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59631","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=59631"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59631\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}