{"id":62551,"date":"2014-10-27T04:32:39","date_gmt":"2014-10-27T08:32:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=62551"},"modified":"2014-10-27T07:14:28","modified_gmt":"2014-10-27T11:14:28","slug":"euro-looks-set-for-a-move-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/euro-looks-set-for-a-move-higher\/","title":{"rendered":"Euro Looks Set For A Move Higher"},"content":{"rendered":"
October 27, 2014<\/div>
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Visit our website \u2013 Ikofx<\/a><\/strong><\/em><\/p>\n

The Euro was seen trading higher against the Japanese yen earlier during the Asian session, but the upside was stalled around the 137.34 level. The EURJPY is under retracement as of now and testing an important support area which could produce a bounce in the pair moving ahead. The German IFO business climate index is due for release in a few minutes, which is expected to decline from 104.7 to 104.3. If the outcome surpasses the expectation, then it might create buying interest for the Euro in the near term. Moreover, the Euro area private loans data will also be released which can ignite some moves in the pair.<\/p>\n

There is a critical bullish trend line formed on the hourly chart of the EURJPY pair, which acted as a support and resistance on a number of occasions. The pair is currently trading around the mentioned trend line which can push it back up. Currently, the trend line also coincides with the 38.2% fib retracement level of the last leg from the 136.47 low to 137.34 high. So, there is a strong chance of a move higher in the near term. The pair has to break the recent high for more upside towards the 138.00 area where the Euro sellers might appear again. The hourly RSI is heading towards the 50 level, which might also provide support to the pair.<\/p>\n

\"EURJPY<\/a><\/p>\n

If the economic releases in the Euro area miss the forecast, then the pair might break the highlighted bullish trend line to trade lower towards the 100 moving average.<\/p>\n

Overall, one might consider buying dips as long as the pair stays above the mentioned trend line.<\/p>\n

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Visit our website \u2013 Ikofx The Euro was seen trading higher against the Japanese yen earlier during the Asian session, but the upside was stalled around the 137.34 level. The EURJPY is under retracement as of now and testing an important support area which could produce a bounce in the pair moving ahead. The German […]<\/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-62551","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62551","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=62551"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62551\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}