{"id":72040,"date":"2015-05-06T04:32:02","date_gmt":"2015-05-06T08:32:02","guid":{"rendered":"http:\/\/countingpips.com\/?p=72040"},"modified":"2015-05-06T05:12:33","modified_gmt":"2015-05-06T09:12:33","slug":"eurusd-is-trading-near-resistance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/05\/eurusd-is-trading-near-resistance\/","title":{"rendered":"EUR\/USD is trading near resistance."},"content":{"rendered":"<div id=\"inves-1822017915\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 6, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>The price is approaching the previous high from 1.1289 and will try to break this resistance and to continue the upward movement. \u00a0As you can see from the H4 chart, the price is trading just above the 61.8% retracement\u00a0level and if will make a consolidation here then the price is expected to go higher with first target somewhere at 1.5 or higher but this scenario depends on the US dollar weakness, if US dollar index will break the uptrend line (important support level) then we\u2019ll have an extended correction on US dollar.<\/p>\n<p>The rate is trading above the median line (ML) of the ascending pitchfork, you can see that the price has failed to reach the lower median line (LML), this is bullish signal, now I\u2019m expecting to see the price at the upper median line (UML). \u00a0As long as the price is trading inside of the ascending pitchfork, the pair is bullish.<br \/>\n<img decoding=\"async\" src=\"http:\/\/content.screencast.com\/users\/OVTbusiness\/folders\/Jing\/media\/a06cefed-135b-47f9-8dd6-d88a4130adb0\/2015-05-06_1123.png\" alt=\"eur\" \/><br \/>\nBy Olimpiu Tuns \u2013 Owner and Market Analyst at <a href=\"http:\/\/ovtbusiness.com\/\" target=\"_blank\">http:\/\/ovtbusiness.com\/<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price is approaching the previous high from 1.1289 and will try to break this resistance and to continue the upward movement. \u00a0As you can see from the H4 chart, the price is trading just above the 61.8% retracement\u00a0level and if will make a consolidation here then the price is expected to go higher with [&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-72040","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72040","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=72040"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72040\/revisions"}],"predecessor-version":[{"id":72047,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/72040\/revisions\/72047"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=72040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=72040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=72040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}