{"id":13867,"date":"2010-10-08T08:24:20","date_gmt":"2010-10-08T12:24:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13867"},"modified":"2010-10-08T08:24:20","modified_gmt":"2010-10-08T12:24:20","slug":"eurusd-technical-update","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/08\/eurusd-technical-update\/","title":{"rendered":"EUR\/USD \u2013 Technical Update"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; Now that the EUR\/USD has closed above a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/28\/eurusd-%e2%80%93-new-price-target\/\">retracement level <\/a>from  the December 2009 high, a bearish sign has developed on the daily  chart. This may allow for a consolidation pattern to form or a worst  case scenario a reversal of the uptrend.<\/p>\n<p>A close above 1.3890 the 61.8% Fibonacci  retracement was a significant milestone in the recovery of the pair.  Now that this technical barrier has been achieved, new resistance levels  are found.<\/p>\n<p>Resistance should be located at the December 2009 lows near 1.4210 (R1) and the mid-January high of 1.4580 (R2).<\/p>\n<p>Support for the EUR\/USD will be found at the March high of 1.3820 (S1).<\/p>\n<p>Today the EUR\/USD pushed as high as 1.4028 only to lose those gains  and fall as low as 1.3856. The pair has come back and is currently  trading at its opening day price.<\/p>\n<p>This could be a bearish signal. If the price closes at its currently  level, the daily candlestick will form a longed legged doji which may  signal a pause in the uptrend or at the worst a reversal.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/EURUSD-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/EURUSD-Daily.JPG\" alt=\"\" width=\"560\" height=\"698\" \/><\/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>Now that the EUR\/USD has closed above a retracement level from the December 2009 high, a bearish sign has developed on the daily chart. This may allow for a consolidation pattern to form or a worst case scenario a reversal of the uptrend.<\/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-13867","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13867","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=13867"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13867\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}