{"id":12455,"date":"2010-08-27T09:45:59","date_gmt":"2010-08-27T13:45:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12455"},"modified":"2010-08-27T09:45:59","modified_gmt":"2010-08-27T13:45:59","slug":"eurusd-bearish-flag-pattern","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/27\/eurusd-bearish-flag-pattern\/","title":{"rendered":"EUR\/USD \u2013 Bearish Flag Pattern"},"content":{"rendered":"<p><strong>Russell Glaser<\/strong> &#8211; A sharp decline in the value of the EUR\/USD followed by a bounce  higher has setup a consolidation pattern that could lead to further  declines in the pair.<\/p>\n<p>The 4-hour EUR\/USD chart below shows a  sharp drop in value for the pair beginning on August 23rd at a price  near the resistance level of 1.2730 (R1) to a low near the 1.2610  support level  (S1). This drop in the price was followed by a short  period of rising prices which failed to close above resistance level,  forming a bearish flag pattern.<\/p>\n<p>The next move may be to the downside as the flag pattern is rising.  The measured move following a breakout below the lower line of the flag  pattern should equal the length of the flagpole, roughly 140 pips.<\/p>\n<p>A continuation of the downward move may send the EUR\/USD even lower to the 2009 low at 1.2450 (S2).<\/p>\n<p>Additional resistance can be found at 1.3030 (R2).<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/Bearish-Flag.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/Bearish-Flag.JPG\" alt=\"\" width=\"560\" height=\"571\" \/><\/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>Russell Glaser &#8211; A sharp decline in the value of the EUR\/USD followed by a bounce higher has setup a consolidation pattern that could lead to further declines in the pair. The 4-hour EUR\/USD chart below shows a sharp drop in value for the pair beginning on August 23rd at a price near the resistance &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/27\/eurusd-bearish-flag-pattern\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/USD \u2013 Bearish Flag Pattern&#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-12455","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12455","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=12455"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12455\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}