{"id":12291,"date":"2010-08-23T11:30:52","date_gmt":"2010-08-23T15:30:52","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12291"},"modified":"2010-08-23T11:30:52","modified_gmt":"2010-08-23T15:30:52","slug":"eurusd-new-bearish-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/23\/eurusd-new-bearish-trend\/","title":{"rendered":"EUR\/USD \u2013 New Bearish Trend"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; During the past two weeks\u2019 trading we have seen a shift in the technicals of the EUR\/USD to the downside.<\/p>\n<p>Last Friday\u2019s trading saw a sharp drop  in the value of the pair by 0.7%. This made significant inroads into  shifting technicals for the pair, causing a breach of the long term <a href=\"http:\/\/www.forexyard.com\/en\/trend-types\">trend line <\/a>on  the weekly chart. The pair rose as high as the 20-week exponential  moving average before heading lower. The moving average line is now  downward sloping, indicating the trend has moved to the downside<\/p>\n<p>This same level could once again serve as resistance as the upward  sloping trend line comes in at the same price of 1.2890. Following a  breach below a rising trend line, the price has a tendency to move back  to the trend line which can act as a resistance level.<\/p>\n<p>Support for the EUR\/USD comes in at 1.2645, the 23.6% Fibonacci  retracement level from the November high, followed by the support at  1.2470.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/EURUSD-Weekly.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/EURUSD-Weekly.JPG\" alt=\"\" width=\"590\" height=\"608\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/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; During the past two weeks\u2019 trading we have seen a shift in the technicals of the EUR\/USD to the downside. Last Friday\u2019s trading saw a sharp drop in the value of the pair by 0.7%. This made significant inroads into shifting technicals for the pair, causing a breach of the long &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/23\/eurusd-new-bearish-trend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD \u2013 New Bearish Trend&#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-12291","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12291","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=12291"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}