{"id":11079,"date":"2010-07-14T09:12:47","date_gmt":"2010-07-14T13:12:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11079"},"modified":"2010-07-14T09:12:47","modified_gmt":"2010-07-14T13:12:47","slug":"breach-of-long-term-trend-line-highlights-shift-in-the-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/14\/breach-of-long-term-trend-line-highlights-shift-in-the-market\/","title":{"rendered":"Breach of Long Term Trend Line Highlights Shift in the Market"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; Yesterday\u2019s sharp appreciation in the EUR\/USD signaled a fundamental  shift in the trend of the pair.<\/p>\n<p>The price made a close above the  downward sloping trend line that has held since December of 2009. This  is considered a significant breach of the long term trend line and the  beginning of the uptrend that began in early June.<\/p>\n<p>A distinct bullish channel has formed from the swing low on the chart  beginning in early June where the pair has traded consistently. The  lower line of the channel should now serve as the new uptrend line.<\/p>\n<p>The near term resistance is yesterday\u2019s high of 1.2740, noted by R1  on the chart. As such, the next target for the pair rests at the  resistance line of 1.3090 at R2.<\/p>\n<p>Supports for the uptrend come in at 1.2525, noted by S1, along with  1.2350 at S2.<\/p>\n<p>The previous long term downward sloping trend line can also act as a  support. If the price does retrace back to the old trend line, it could  create a good setup to go long on the EUR\/USD.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/EUR_USD_Blog1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/EUR_USD_Blog1.JPG\" alt=\"\" width=\"595\" height=\"571\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                          Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                          may not be suitable for all investors. There is  a              possibility      that     you   could sustain a loss of  all   of    your         investment and      therefore  you     should   not    invest   money  that   you      cannot afford to      lose. You    should    be      aware of   all   the    risks   associated with     Foreign      Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; Yesterday\u2019s sharp appreciation in the EUR\/USD signaled a fundamental shift in the trend of the pair. The price made a close above the downward sloping trend line that has held since December of 2009. This is considered a significant breach of the long term trend line and the beginning of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/14\/breach-of-long-term-trend-line-highlights-shift-in-the-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Breach of Long Term Trend Line Highlights Shift in the Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11079","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11079"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11079\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}